TiVo and broadband pull ahead for Virgin

Strong growth for TiVo and superfast broadband dominated in Virgin’s year-end results as advanced services compensated for a general slowdown in UK pay-TV take-up.

While TiVo doubled its customers in Q4 2011, at 435,000 representing 12% of the TV base, new TV installs of 1,100 remain low. However, there was a 56,100 increase in the paying TV base for the quarter and a strong demand for superfast broadband, categorised by Virgin as being 30 Mbps and above in Q4 with customer growth of 133,000.

“Our strategy of focusing on customers who want more from the digital world is paying off. With the number of TiVo customers doubling in the final quarter of the year, our new TiVo service is attracting both new and existing customers,” said Virgin Media CEO Neil Berkett.

Total revenue in the fourth quarter was up 2.0% to £1.0 billion, as growth in consumer segment cable revenue (up 0.8% at £688.5m) and business segment revenue were partially offset by reductions in mobile and non-cable revenue in the consumer segment. The company also recorded its first-ever profit, signalling an end to decades of losses in the UK cable sector.

Virgin Media says it is creating an additional 620 new jobs to support growing demand for its TiVo and superfast broadband products. The new recruits will be based at a number of locations across the country, with the majority in Manchester and Swansea.

500 staff will fill roles within customer services, while the remaining 120 will be trained as engineers as part of Virgin’s apprenticeship scheme.

“This investment will benefit a number of communities across the country and we’re particularly proud that we’re able to provide so many young people with a much needed start in these challenging economic times,” said Paul Buttery, chief customer & networks officer.

Virgin Media subscriber progress

 Source: Virgin Media