Com Hem’s third quarter results show a mature business; revenue increased by 3.7%, digital TV subs grew by 4,000 and TiVo by 9,000.
Perhaps the most surprising element in the Swedish cablenet’s statement was that it had renewed its contract with Netflix – not so much the renewal – more it had come round so soon. TV4 Play, the commercial channel’s catch up service has also been extended for a further term.
“I summarise this quarter as a solid one in which the business delivered successfully on our long-term plan, while investing in the pillars of our future growth,” said Anders Nilsson, CEO, Com Hem. “We continue to grow subscribers steadily, as we continue our shift from volume to price and volume-led growth.”
For the quarter ending September 30, 2015, Com Hem reported revenues of SEK 1,255 million, driven by a healthy growth in its consumer business, underlying EBITDA was SEK 590 million. There were 903,000 unique consumer subscribers, 648,000 broadband RGUs and digital TV 631,000 RGUs. 903,000 homes take TiVo.
A new TV Everywhere service – branded Com Hem Play – was launched in mid-September exclusively to TiVo customers, replacing the previous TiVoToGo service. The reach of Com Hem Play rose 58 per cent compared to TiVoToGo, while total streaming volume up by over 200 per cent compared with the month preceding launch.
