Only in America would Iowa's top cable provider be headquartered in New York and owned by a man with an Italian name. Mediacom offers cable, Internet, and digital phone service throughout smaller markets in 22 mostly Midwestern and Southern states. Its core markets include areas in Georgia, Illinois, Iowa, Minnesota, and Missouri. Mediacom serves residential and small to midsized business customers. The company operates through Mediacom LLC and Mediacom Broadband. Together the subsidiaries count 945,000 video subscribers, 965,000 data customers, and 386,000 phone customers. It also sells advertising time to local, regional and national advertisers.
Mediacom is uniquely positioned in that it mainly competes with satellite cable providers for TV customers, but DIRECTV and DISH Network are unable to provide phone service over their network. Comcast and Time Warner Cable, the nation's top two cable companies, do not operate in Iowa, which has allowed Mediacom to flourish in the Hawkeye State. About 60% the company's customers subscribe to two or more services, such as cable and Internet, and almost 20% are "triple-play" customers who also buy phone service.
The company provides services to 1,500 communities in 22 US states, including in Georgia, Florida, Illinois, Iowa, and Missouri.
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Residential customers may either pay for service on a month-to-month basis or sign a contract to obtain more favorable rates.
Overall sales Mediacom LLC and Mediacom Broadband totaled $1.6 billion in 2013, a 2% year-over-year boost. The company experienced a typical churn rate of 2% for cable and digital phone customers, but revenues for high-speed data increased 9%. Sales from advertising were also down about 10%, while revenues for business services enjoyed double-digit growth.
Revenues from cable services make up half of all sales; data services account for another 30%. Business services make up another 10% of sales, while revenues from advertising and phone customers together make up the remaining 10%.
The country's eighth-largest cable company focuses on smaller markets but still aims to provide the same services as a larger provider. It offers about 85 HD channels, DVR service, and in 2014 it began offering home security services under the Mediacom Home Controller brand. It also provides service calls on weekend and evening hours, so customers don't have to do the dreaded wait for the cable guy.
Mediacom is owned by its chairman, CEO, and founder Rocco B. Commisso. Mr. Commisso, who came to the US as a child and was an executive at Cablevision, took the company private in 2011. He founded the company in 1995; it went public in 2000.