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Portugal Telecom sees TV growth in tough market

Portugal Telecom’s Meo service saw residential and commercial pay TV subscribers rise 6.9% year-on-year and by 20,000 customers quarter-on-quarter to reach 1,334,000 at the end of March. 

Portugal Telecom’s triple-play base increased by 37,000 in the quarter to March to reach 989,000, up 14.7% year-on-year.

In the Portuguese residential market, the group had 1.168 million pay TV customers at the end of March, up 3.6% year-on-year. Commercial pay TV customers increased by 39.1% year-on-year to reach 165,000.

According to the group, pay TV and broadband RGUs accounted for 57.4% of total RGUs as of the end of March.

Downward price pressure in the residential sector in the Portuguese residential market contributed to a 3.9% year-on-year fall in revenues for Portugal Telecom in the quarter to €690 million. EBITDA dropped by 3.% to €279 million.

Brazilian unit Oi reported 828,000 residential pay TV customers as of the end of March.