TiVo is helping Com Hem turn around the previous decline in digital TV subscriptions. An additional 4,000 RGUs were added in the second quarter to reach 599,000 as of June 30, 2014.
The advanced TV platform itself has now passed the 100,000 mark, standing at 103,000, equivalent to a penetration of 17.1% of the total number of digital-television RGUs.
However, the Swedish cablenet is not yet out of the woods. When compared to the end of the second quarter of 2013, digital-television RGUs are 6,000 lower.
Consumer churn for the second quarter was 16.4%, compared to 15.2% for the first quarter of 2014. The increase reflects the impact of a price rise in May.
“We have also successfully returned our digital-television business to RGU growth, reaching an important milestone with more than 100,000 TiVo customers and further strengthening the product with 38 new channels added to TiVoToGo,” said Anders Nilsson, CEO, Com Hem
In its first published results since last month’s IPO, Com Hem has recorded a revenue increase of 8.1%.
As of June 30, Com Hem had 1,832,000 homes connected, an increase of 2,000 households during the quarter.
Second quarter financials, Com Hem recorded SEK 1,198m revenues, an increase of 8.1% compared to the same period in 2013. Increased losses of SEK 718 million, compared to SEK 279 million, following one-off costs of SEK 680m associated with the IPO and refinancing of debt.
Com Hem was listed on NASDAQ OMX Stockholm, Large Cap on June 17, 2014.
