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Portuguese cable TV operator Cabovisão has rebranded as Nowo, with the aim of providing a low-cost alternative to the bundled offers dominating the local market.
The basic offer will consist of a package with a 100 Mbps Internet connection and 33 analogue TV channels, costing €19.99 per month. All those who want can then add more services, such as higher Internet speeds, digital and premium TV channels, fixed and/or mobile telephony.
Nowo offers a maximum 12-month loyalty contract, while the installation is free of charge (€30 for 6-month contracts).
According to CEO, Miguel Veiga Martins, Nowo aims to “break the status quo” in a “saturated” market dominated by packages in which “nobody can choose what they want and where all pay for unwanted services”.
The new strategy foresees the doubling of both the number of customers to 400,000 and market share in revenues to 10 per cent over the next two years.
Nowo disposes of a hybrid network (fibre optic and coaxial cable) that reaches nearly one million homes in Portugal. The company plans to invest around €30 million over two or three years to upgrade the network and expand coverage.
Cabovisão, together with Portuguese telecom operator Oni, were purchased last year by Apax France and Fortino Capital from Altice.