Belgium’s Telenet ended September with a total of 1,822,500 video RGUs.
This, according to the company in its latest set of results, included the removal of 9,200 video subscribers following the merger of SFR-Coditel with Eltrona and represented a net organic loss of 13,100 during Q3 and 34,900 in the first nine months of the year.
Telenet adds that this net loss excludes migrations to its enhanced video service and represents customers churning to competitors’ platforms, such as other digital television, OTT and satellite providers, or customers terminating their video service or moving out of our service footprint.
Telenet notes that as of the end of September 1,691,100 of its video customers had upgraded to its enhanced video services. The latter’s base contracted by 4,600 net RGUs in Q3 and 1,600 in the first nine months of the year, impacted by the delayed signing of the Belgian football broadcasting contract with Eleven Sports and its temporary halted “Signal Switch” campaign.
Telenet notes that in mid-September it launched “Streamz”, a unique streaming service of DPG Media and Telenet, in which it holds a 50% share. Consequently, neither the operational nor the financial results of the joint venture itself are consolidated into its accounts.
It also says that at the end of Q3 it had 213,300 Play Sports customers, or 15,000 more than three months earlier.
Telenet had revenues of €1,901.1 million in the first nine months of this year, virually unchanged on the €1,910.6 million posted in the same period in 2019.
Its adjusted EBITDA was €1.041.1 million (+2%) and net profit €298.1 million (+109%).
