Telefónica lost 51,000 pay-TV subscribers in Spain in Q1 due largely to the impact of higher VAT introduced in September 2012 and an adverse macroeconomic environment.
However, as the company reports in its latest set of results, the loss eased during the quarter and last month it launched an Imagenio Familiar promotion for €10 a month, instead of the usual €29.90, valid until August 31 and with the aim of securing new customers.
Telefónica retail fixed broadband business in Spain performed much better in Q1, growing by 3% year-on-year with 52,000 net additions in the period and 180,000 since the launch of Movistar Fusión in October 2012.
Telefónica also saw strong growth in its fibre customers in Spain in Q1, with 60,000 net additions (+23% year-on-year) and connected households of 372,000, accounting for 16% of households passed (2.3 million).
Elsewhere in Europe, Telefónica ended Q1 with 141,000 pay-TV subscribers in the Czech Republic, or 2% more than a year earlier.
The company as a whole had revenues of €14,141 million in Q1, an 8.8% year-on-year decrease.
Revenue growth in Latin America could not offset lower revenues in Europe, impacted by the macroeconomic situation, intense level of competition and negative impact of regulation.
