In his explanation of why he sees a rosy future for the residential security industry, Haislip said that besides being recession resistant, the industry usually sees an average attrition of less than 13 percent a year, which he said is lower than many other electronic home services companies. Additionally, Haislip said that the industry is still highly fragmented, and said that fragmentation allows the possibility of growth for a company like Monitronics. Additionally, said Haislip, dealer programs like Monitronics are spurred on in growth by the entrepreneurial spirit of an estimated 15,000 security dealer companies operating in the United States.
Haislip said that adding new services like interactive/mobile services and home automation could push penetration higher than the 17.5 percent that the industry currently sees. Haislip added that the move toward newer wireless technologies that are quality, dependable offerings helps ease the challenge of installing security systems, and that such technology could also benefit market penetration.
Haislip reported $272 million in revenues for Monitronics in 2010, and said that over 95 percent of that revenue was from consumer recurring monthly revenues. Haislip reported 14 percent financial growth in 2009 and 19 percent financial growth in 2010. He said that there were a number of other bidders for Monitronics before the sale to Ascent. Monitronics was primarily being operated and owned by private equity.
Ascent acquired Monitronics after selling off its former primary operating company AMG Media Services, a company which provided creative services as well as distribution services for the film and cable industry. The sale of AMG was announced by Ascent in late November.