Modern Times Group (MTG) ended Q2 with 983,000 subscribers to its pay-TV services in the Nordic region.
This was from the 1,007,000 total posted three months earlier and 994,000 in the same period last year. Of its subscribers, 480,000 (491,000 in Q1 2016 and 536,000 in Q2 2015) were for satellite, of which 503,000 (516,000, 458,000) were for third party networks. Satellite ARPU amounted to SEK5,265 (€556) , up from SEK5,090 three months earlier and SEK5,115 in Q 2015.
Meanwhile, outside the Nordic region MTG ended Q2 with 175,000 international pay-TC subscribers (181,000, 192,000), with satellite ARPU being SEK1,573 (SEK1,537 and SEK1,520).
Looking at the Nordic market, MTG says: “Pay-TV sales were up at constant FX following continued healthy Viaplay subscriber intake, as well as the impact of the recent Viaplay and Viasat price adjustments. The Viasat satellite subscriber base continued to decline but satellite ARPU was up year-on-year at constant FX. The decline in the third party subscriber base reflected both the end of the sports season, as well as higher initial churn levels following the price adjustments. Both Viasat and Viaplay churn levels have now returned to more normalised levels as anticipated”.
Commenting on the international pay-TV business, it adds: “Pay-TV sales were up on an organic basis, with higher sales for Trace partly offset by lower sales in the Baltics. The total satellite subscriber base decreased quarter-on-quarter, but satellite ARPU was up year-on-year at constant FX rates following price increases and the introduction of new package structures”.
MTG’s results were impacted by the sale of CTC Media in Russia. Its continued operations had net sales of SEK4,328 million in Q2, compared to SEK4,155 million a year earlier, while net income was SEK310 million (SEK373 million).
The net loss from total operations was SEK674 million, compared to SEK58 million a year earlier.
