Virgin Media trebles Q1 income
May 8, 2015
Virgin Media’s broadband subscriber numbers have increased from 4,625,800 in the previous quarter, to 4,969,700 in the first quarter of this year (40,200 of which are still on ADSL rather than cable0 – up 7 per cent.
Of those 4.9 million net subscribers, Liberty-owned Virgin reports that 36 per cent are on 100Mbps or faster packages – a big increase 12 per cent of customers at the same time last year.
Subscriptions to TV services (TiVo, and Horizon in Ireland) grew by 115,000 during Q1 2015, reaching 2.8 million. The company also gained 19,000 mobile contract subscribers, but due to a decline in PAYG users, saw a net loss of 46,000 mobile subscribers.
Virgin said its rebased revenue was up 3 per cent to £1.13 billion in Q1, and operating income was up to £97 million (€133m), over treble what it was the previous year.