Unitymedia is continuing to deliver increases in subscriber revenues despite the loss of basic cable subscribers.
Reporting its half year results the cablenet, which serves the German states of North Rhine Westphalia and Hessen said it had increased its total RGUs (Revenue Generated Per Unit) from 5,546,000 at June 30, 2007 to 5,936,000 as of June 30, 2008. At the same time the total number of subscribers taking the so-called “new services” almost doubled to 1,224,000. The percentage of basic cable subscribers taking digital services at 22% was twice the figure given in 2007.
H1 cable revenues increased 13% year-on-year to €409.3 million while adjusted cable EBITDA was up 17% in the first half to €193.4 million on margins on 47.2%.
Such figures suggest that the 152,000 loss of basic cable subscribers to 4,712,000 may not be greatly concerning. As other European operators have found the presence of DTT and IPTV makes it difficult to hold onto all of the subscriber base enjoyed by the utility model of previous incumbents.
