Boxer Denmark grew subscriber levels from 180,000 to 364,000 on the back of the encryption of popular commercial channel TV2.
“Earnings in Denmark have improved, which directly visible in the Group’s overall results,” said newly appointed CEO Åsa Sundberg.
Group revenues of SEK 4.5 billion grew from the SEK 4 billion in 2011, though operating profit fell slightly to SEK 351 million, largely due to a trademark dispute.
Sundberg called for an increase in pay-TV channels in the Finnish market, which Teracom says continues to be challenging. “The majority of the most popular channels broadcast outside of the pay-TV offering, which makes the pay-TV market rather intractable. Our assessment is that it is not sustainable for television channels to be completely dependent on advertising funding and thus forgo the security and financing of content revenues from pay-TV have to offer”.
Subscribers to Teracom’s Plus TV fell from 238,000 to 232,000 year-on-year.
In Sweden the new Flex 8 package has been well received and the relaunch of the on demand box has exceeded expectations. Despite this subscribers fell from 617,000 to 594,000.