April 28, 2010

Virgin Media Q1 2010 Results

Full details: Virgin Media - First Quarter 2010 Results
We grew our digital TV base by 46,600 in the quarter to over 3.7m. We have now switched off our analogue TV signal in all digitally capable areas, freeing up significant spectrum to enhance both our TV and broadband services further. Taking into account this planned decline in analogue TV services, our TV customer net growth was 35,700.
Subscribers are increasingly using our market-leading video-on-demand (VOD) service and 58% of our TV customers now regularly watch VOD. We are developing monetization of this library of thousands of hours of content, working with broadcasters and advertisers to create dynamic pre-, mid- and post-roll adverts. We recently announced a landmark first agreement with two UK media agencies that are part of Aegis Group, one of the world's leading marketing communications companies.
Our VOD services include a substantial amount of high definition (HD) content. We are also continuing to expand our HD offering, where we now offer 12 HD channels and expect to add even more in the coming months. We have also launched our new HD ready standard set-top box, the V HD Box, which is available for no additional monthly subscription fee, ensuring our customers do not need to pay extra per month for access to HD channels. Our V+ HD DVR subscriber base continues to grow and we added 77,900 subscribers in the quarter to reach an installed base of 939,900, which represents a penetration level of 25%.
We also continue to work with TiVo to develop a new converged TV and broadband interactive platform which will be unveiled later this year.
Coverage from Media Guardian: Virgin Media beats expectations with 38,000 new households

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