Announcing its quarterly figures, Virgin said that TiVo customers now number 1.5 million, with the increase helping to boost the firm’s revenue and earnings.
“We had a good start to the year with accelerated revenue growth, improved churn, and strong free cash flow growth. The great value we provide through our collections packages, which bundle superfast broadband and our next generation TiVo service, has seen new customers join and our existing customers stay loyal to us,” said Virgin Media CEO Neil Berkett.
He added “this positive momentum in the business positions us well for our planned merger with Liberty Global” – which was announced earlier this year.
In total, Virgin’s revenue was up 3.6% year-on-year to £1.04 billion (€1.22 billion). Operating income increased 14% to £150m, while net income was £139m, up from £7m in the same quarter last year.
Virgin added that its paying TV customers increased by 13,700, reaching 3.3 million in the quarter. It also added more HD channels to its TV line-up this year, taking this total to 43, and launched 21 new live channels to its cloud-based entertainment service Virgin TV Anywhere.
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12th December 2018