Virgin Media Superfast Broadband Subscribers Increase To 1.3m
More superfast broadband customers contributes to Q2 revenues of £1bn
Virgin Media has increased its superfast broadband user base by 459,000 customers to 1.3 million, three times the number from this time last year.
Superfast broadband customers now represent 31 percent of its total broadband user base, according the company which posted its second quarter results this week.
The increase in customers contributed to a 4.2 percent rise in revenues to £1 billion, a year-on-year increase of ten percent.
Virgin Media superfast broadband
Around 41 percent of Virgin Media customers chose took speeds of more than 60Mbps, while plans to double the speeds of four million users are well underway. Also contributing to the increased revenues was an increase in the paying-TV base, with the number of subscribers to its TiVo PVR (personal video recorder) service rising from 261,700 to 938,000.
“This has been a quarter of improved revenue and OCF growth. We are well placed to benefit from the fast-growing demand for superfast broadband and TiVo positions us well to lead the evolving TV market,” said Neil Berkett, CEO of Virgin Media.
“I’m pleased to be reporting our fourth consecutive quarter of growth. The business division has continued to cement itself as a key provider of data services in both the wholesale and retail markets as well as strengthening its position as a leading provider of services to the public sector,” added Mark Heraghty.” We’ve also made great progress in rolling out Wi-Fi across London Underground in time for the start of the big events this summer.”
The Underground Wi-Fi service was launched last month, with up to 120 stations set to be added to the network by the end of 2012.
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