February 17, 2011

More on the Virgin Media 2010 full year and Q4 results

Here is Neil Berkett's presentation to Investors
And here is the coverage and commentary from The Guardian on the TV numbers from Virgin announced this morning:
Virgin Media reported a net loss of £141.4m in 2010, a huge improvement over the £357.8m loss – adjusted following the sale of Virgin Media TV to BSkyB last July – it posted in 2009. In the fourth quarter the company said net income moved £37.1m into the black, compared with a £94.4m adjusted loss for the same period in 2009.

Overall, Virgin Media added 76,600 new customers last year – up from just 17,600 in 2009, with 17,100 added in the final quarter. The company's total subscriber base is now 4.8 million. "Triple play" customers – those taking three products from Virgin – grew slightly to 63% of the subscriber base. "Quad-play" customers were 11.8% of the total.
Within its total customer base Virgin was able to sign up 44,100 new customers to its broadband service in the fourth quarter, taking the total number of subscribers to 4.29 million. The company said that more than 780,000 customers take its high-speed 20Mb or 50Mb broadband services, with a year-on-year growth rate of 40%.
In the fourth quarter, almost one in three new customers signing up for broadband opted for a higher speed service. A total of 118,000 customers have signed up for the 50Mb service, and there was a 29% increase in sign-ups between the third and fourth quarters last year.
Virgin Media's TV base increased by just 12,100 in the fourth quarter, taking the total number of subscribers to 3.78 million. Virgin Media's on-demand service, which is being upgraded to a new TiVo-powered service, is used by 64% of customers with average monthly views of content at 87m.
Virgin Media managed to sign up 91,900 new HD customers in the fourth quarter. Overall, Virgin Media has 1.5 million subscribers to HD, approximately 39% of its total customer base.
The company also added about 60,000 customers taking its Sky premium suite of channels, taking the total to about 780,000. "It is amazing what a little help from Ofcom can do," said the Virgin Media chief executive, Neil Berkett, referring to a ruling made by the media regulator in April last year ordering Sky to cut the price it charges rivals for its sports channels to stimulate pricing competition.

No comments: