German pay-TV operator Premiere lost a further 28,000 direct customers in the first quarter, leaving it with 2.371 million subscribers. The biggest losses were among customer taking the Flex offer, which Premiere is phasing out.
Revenues for the quarter amounted to 232.7m, flat year-on-year on a comparable basis. EBITDA was negative Â29.8m, down from positive Â2.9m for the first quarter of 2008. Premiere reported a net loss of Â80m for the quarter, compared with a net loss of Â28.1m in 2008. On the positive side, ARPU increased by almost Â1 quarter-on-quarter to Â24.85.
Premiere confirmed its existing full-year outlook. The company expects subscriber growth to resume in the second half of the year, with EBITDA and cash-flow expected to be positive from 2011.
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