Virgin Media posts modest 2% rise in 3rd quarter revenue of £1,047m
Virgin Media has clocked up a 2 per cent rise in like-for-like revenue to £1.047m over the third quarter (£3,145m for the year to date) after adding a fresh cohort of subscribers to its broadband and media businesses, citing the success of its ‘Big Bundles’ campaign for this growth.
In its latest set of financial results the telecoms firm saw its cable customer base rise by 34,600 whilst broadband customers jumped 48,600 to 4.5m.
Over the year as a whole Virgin has now installed its TiVo set top box in 441,000 more households (64 per cent of all TV customers) and boosted landline customers by 24,800 to 4.2m and mobile contracts by 194,400 to 2.1m.
Mike Fries, chief executive officer of Virgin’s parent company Liberty Global, said: "We continue leveraging the scale of our core distribution platform and the substantial investments we’re making to bring innovative products to market.
"As a result, our third quarter results were driven in large part by record volume growth, underpinned by strong consumer demand for our next-generation video platforms, our market-leading broadband speeds, and our increasingly converged products that provide our customers with connectivity and entertainment outside of the home.”