‘n’ posts strong growth

Polish pay TV platform ‘n’ added 37,000 subscribers in the first quarter, taking its total to 966,000, up 16% year-on-year.

‘n’’s prepaid business grew by 10% year-on-year to 324,000 customers, including 83,000 for its prepaid HD service, which doubled its base in the course of the year.

Revenue from the post-paid business grew by PLN28 million (€6.6 million), while prepaid revenue grew by PLN5 million year-on-year. However pay TV EBITDA fell by PLN4 million to a loss of PLN6 million thanks to increased programming costs.

‘n’’s performance contributed to a 5% year-on-year increase in TVN Group revenues and a 15% decline in EBITDA. The company posted a net profit of PLN181 million thanks primarily to unrealised foreign exchange gains on revaluation of senior notes.