- Strategic investments drive customer growth momentum in Q4
- Over 1 million more superfast broadband users – 50% growth – in a year
Virgin Media, part of the world’s largest international cable company, Liberty Global plc, today announces its unaudited preliminary results for the period ending 31st December 2013.
Tom Mockridge, Virgin Media’s chief executive officer, said: “More than a million extra homes are getting superfast broadband from us than a year ago. In that time the average amount our customers download has grown 50% as they do more online. And while Virgin Media’s basic broadband service is far faster than the national average, almost half of our new customers are opting for 60Mb or above, showing the demand for the superior speeds that cable delivers.
“The power of our network will allow us to boost Britain’s broadband speeds again this year as we supercharge the lives of our customers. Virgin Media’s top speed will soon be twice as fast as anything else widely available, ensuring our customers can make even more of the incredible online world.
“Virgin Media now serves more cable customers than ever before as our combination of better broadband and the best way to watch television sets us apart. Over half of our TV customers have TiVo, which remains the fastest growing pay service in the country. These two million households enjoy an ever-developing advanced connected TV service, which uniquely doesn’t slow down a customer’s internet connection.
“During 2013 Virgin Media became a part of Liberty Global, creating the world’s largest international cable company. Since then we have been working across Europe to exchange talent as well as share knowledge and create synergies to benefit our combined future. Our new leadership team, drawn from within Virgin Media, Liberty Global and beyond, has strength in depth and extensive experience.
“The strength of our consumer cable business is clear, with strong financial fundamentals and improving operational momentum towards the end of the year, even with heightened competition. As part of Liberty Global, we are investing to give customers more value for money and set ourselves for further growth in the future.”
Virgin Media operational results
- Total subscriptions for cable services up 36,000 in Q4 to 12.3 million
- Cable customers up 20,000 in Q4 to 4.9 million
- Average revenue per customer up £1.16 in 2013 to £48.21
Superfast broadband as standard
- 30Mb+ broadband subscribers up 209,000 in Q4 and 1 million in 2013
- 3.2 million or 74% of all 4.4 million broadband subscribers
- Broadband subscribers up 39,000 in Q4 and 104,000 in 2013
The best way to watch TV
- TiVo subscribers up 137,000 in Q4 and 629,000 in 2013
- 2 million or 52% of all 3.7 million TV subscribers
- Pay-TV subscribers up 19,000 in Q4 and up 56,000 in 2013
- 3.3 million or 89% of all 3.7 million TV subscribers
Making smartphones smarter
- Postpaid mobile subscribers up 59,000 in Q4 and 202,000 in 2013
- 1.9 million or 63% of all 3 million mobile subscribers
- ENDS -
Average revenue per customer relationship is calculated by dividing the average monthly subscription revenue (excluding installation, late fees, interconnect and mobile services revenue) by the average of the opening and closing balance of customer relationships for the period.
Postpaid mobile subscribers were previously referred to as contract mobile subscribers.
Full definitions of financial and operational metrics are available at www.virginmedia.com/investors
Gareth Mead, Virgin Media – 0333 000 2584, firstname.lastname@example.org
Matt Ridsdale, Tavistock – 020 7920 3150, email@example.com
Lulu Bridges, Tavistock – 020 7920 3150, firstname.lastname@example.org
About Virgin Media
Virgin Media is the first provider of all four broadband, TV, mobile phone and home phone services in the UK. The company’s cable network – the result of multi-billion pound private investment – delivers ultrafast broadband to over half of all U.K. homes, with speeds of up to 120Mb, as well as market leading connectivity to thousands of public and private sector organisations across the country.
Virgin Media has developed the UK’s most advanced interactive television service and was the first to offer HD TV and 3D on demand to millions of British households. It also launched the world’s first virtual mobile network and is one of the largest fixed-line home phone providers in the country. For more information, go to http://www.virginmedia.com/.
About Liberty Global
Liberty Global is the largest international cable company with operations in 14 countries. We connect people to the digital world and enable them to discover and experience its endless possibilities. Our market-leading triple-play services are provided through next-generation networks and innovative technology platforms that connected 24 million customers subscribing to 48 million television, broadband internet and telephony services at December 31, 2013.
Liberty Global's consumer brands include Virgin Media, UPC, Unitymedia, Kabel BW, Telenet and VTR. Our operations also include Liberty Global Business Services, our commercial division and Liberty Global Ventures, our investment fund.