The bright spot in Liberty Global’s 2nd quarter results, Virgin Media added a record 112,000 new RGUs in the second quarter.
As of June 30, 2018, the UK & Ireland cablenet now holds and 5.9 million cable customers and mobile services to 3.1 million subscribers.
The figures were released before the dispute with UKTV that has seen 10 of the broadcaster’s channels removed from Virgin’s TV service. Only in the next quarter will we see an indication as to whether this actually does any damage or if the combination of replacement channels and boxsets.
Right now churn is falling with a 20 basis points reduction taking churn to 15%.
However, mobile subscription revenue declined 1.2% on a rebased basis in Q2 primarily as a result of lower out of bundle usage
In the meantime Virgin has added 45,000 video subscribers, driven by its new cutting-edge V6 box, that’s now taken by 1.9 million subscribers, representing 48% of the UK video base.
Triple play is also a strong performer and now represents 63.2% of subscribers.
