April 25, 2012

Rather good first quarter for Virgin Media, HD and Tivo

Virgin Media has published its results for Q1 2012 and actually beat forecasts on signing up new customers and sales, which were up 2.4%. It has also announced first quarter revenues in excess of £1bn, another first for the company.
They added 21,200 customers to its network compared with the previousquarter, the highest in two years. The VM cable subscriber base now at 4.827 million, edging at a glacial pace towards 5 million.
"The appeal of TiVo is driving strong pay TV performance. We added 242,000 more TiVo customers during the quarter to reach a total of 677,100 at the quarter-end, which represents 18% of our TV customer base. This already exceeds the proportion of our customers on our lowest free tier, which now stands at 17% having fallen from 21% a year ago, as we successfully increased the number of paying TV customers by 50,600 in the quarter."
Virgin also added 45,700 cable broadband customers in the period, their highest figure ever for a single quarter.

Full results presentation: Virgin Media 2012 Q1 results

There is no mention of any new channels, HD or otherwise, on the horizon. The only ones confirmed as "coming soon" I'm aware of are Alibi HD and the Olympics BBC bonanza.

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