Virgin Media Q3 results show slight decrease in service subscriptions
6 November 2015 | 0
Virgin Media, formerly UPC, has released its financial results for the third quarter of 2015, showing an increase of 12,200 in service subscriptions and 1,000 customers sign up to the telco’s forthcoming MVNO offering over the Three network.
Total service subscriptions for the quarter were 1,104,800, down slightly from the 1,105,200 reported for the same period last year.
Broadband subscriptions continued their strong growth, totalling 371,300 – an increase of 3.4% over the same period last year. Home Phone subscriptions also performed strongly, up 6.4% to 357,900.
Digital cable TV continued its slide as chord-cutting increases in popularity. For the third quarter of 2015 Virgin Media said it has 318.300 service subscriptions, down from 335,800 to 318,300.
Carol Grennan, CFO, Virgin Media Ireland said: “Virgin Media is the home of Ireland’s best broadband and this is reflected in the continuously strong uptake of our broadband services where our customers are benefiting with ultrafast and unlimited download capabilities.
“We’ll continue to break barriers by offering the most competitive services available and we now have Ireland’s best mobile offer where customers can get Virgin Mobile Unlimited for free for the first 3 months and just €25 thereafter.
“We’re now offering digital TV, ultrafast broadband, phone and mobile as an overall market leading proposition which puts customers at the heart of everything we do.”
“Our business division continues to drive positive results with revenues up by 31% in the third quarter across all business market segments ranging from SOHOs and SMEs to medium and large enterprises, wholesale and Ireland’s number one Wi-Fi provider Bitbuzz.
“In addition, we’re pleased to have upgraded over 60 businesses to our new carrier-grade Ethernet service which has earned Carrier Ethernet 2.0 certification from the Metro Ethernet Forum (MEF). This provides significant commercial benefits to our business customers and demonstrates our commitment to the continuous development of our network.”
During the quarter Virgin Media completed its rebrand from UPC, announced plans to purchase broadcaster TV3 and appointed Tony Hanway (pictured) as new CEO of Ireland, replacing Magnus Ternsjo.