In Spain, pay TV numbers declined by 3% thanks to a decline in the satellite base offset to some extent by growth in IPTV. The company said that its Movistar Fusión converged base grew by 4% and now represents 84% of the broadband base and 77% of the company’s mobile contract base, with Movistar Fusión’s penetration of pay TV rising significantly.
Telefónica España’s pay TV base overall at the end of the period was 3.616 million, of which 2.97 million were Fusión customers, up 7.3% year-on-year.
On the downside, the Spanish operation’s supplier costs increased by 3.6% in the quarter, in part driven by increased TV content costs.
Elsewhere, in Brazil, Telefónica saw its pay TV base slide by 7% to 1.7 million despite growth in IPTV subscribers. In Spanish-speaking America, the pay TV base rose 3% to 2.9 million.
Overall, Telefónica posted first quarter revenues of €13.1 billion, up 5%, and operating income before depreciation and amortisation of €1 billion, up 4.8%.
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27 November 2020 @ 21:00:00 UTC