Cabovisão is facing up to severe competition in the Portugese pay-TV market as the Canadian-owned net lost almost 2,000 RGUs (Revenue Generating Units) in the third quarter to August 31, 2008.
Cabovisão faces competition from Portugal Telecom’s MEO IPTV and satellite service and in certain areas from fellow cablenet Zon. Next year the launch of DTT will place further pressure on basic subs.
RGUs fell from 726,775 to 724,966 on the quarter while basic cable slipped from 300,591 to 296,135, though both metrics remain slightly ahead of 2007. On the more positive side, pay-TV customers reached 57,715, slightly up on their May 31 mark.
Parent company Cogeco, which has faced criticism for its 2006 purchase, received a $18.7 million amortisation charge for the 2008 fiscal year, and has invested both in digital upgrades and sustaining RGU levels.
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