Telenet’s total basic and enhanced video services subscriptions reached 2,062,000 at June 30, 2017.
This number includes 82,200 inorganic additions through the SFR BeLux acquisition. On an organic basis, the cabler lost 15,200 video subscribers in Q2 2017.
“While our organic loss rate in Q2 2017 continued to be higher compared to last year as a result of the increased competitive environment including the effects from regulated cable wholesale, our video churn improved sequentially. The aforementioned organic loss excludes migrations to our enhanced video service and represents customers churning to competitors’ platforms, such as other digital television, OTT and satellite providers, or customers terminating their television service or having moved out of our service footprint. Given the historical video penetration in our footprint, the limited expansion of the number of homes passed and strong competition in the domestic TV market, we anticipate further churn of total video subscribers,” the company said in statement
At June 30, 2017, approximately 87% of Telenet’s video customers subscribed to its enhanced video services, translating into 1,796,500 enhanced video customers, including 74,700 inorganic enhanced video subscriber additions from the SFR BeLux acquisition.
Compared to March 31, 2017, Telenet lost 4,700 net enhanced video subscribers in Q2 2017 on an organic basis as a result of the intensely competitive environment. All of Telenet’s enhanced video subscribers can access the Yelo Play TV Everywqehere app for free.
At June 30, 2017, the subscription VOD packages Play and Play More had 393,100 customers, up 19% compared to the prior year period.
“In June 2017, we also successfully closed the acquisition of Altice’s former Belgian and Luxembourg activities (SFR BeLux) through which we will extend our footprint in Brussels and gain presence in certain parts of Wallonia and Luxembourg,” said John Porter, Telenet’s CEO.
“Through the acquisition, we extended our footprint by 319,100 homes passed and welcomed 90,800 unique customer relationships, subscribing to 190,400 fixed RGUs, of which the vast majority are in Belgium. Having now closed this acquisition, we’ll move ahead with the actual integration including a €12 million investment and the start of the “Grote Netwerf” programem in Brussels.”
