Belgium’s Telenet ended the first quarter with 1,727,800 video RGUs, down 1% (19,500) from the total a year earlier.
In its latest results, the company says it lost 21,800 in Q1 2023 alone and puts this down to several factors. The most significant was the acquisition of Eltrona, “with approximately two-thirds of its video subscriber base still being basic video subscribers and to a lesser extent lower subscriber additions under our TADAAM brand given the exclusion of paused customers”.
Telenet also says it can be explained by “a lower proportion of remaining analogue TV subscribers due to demographics and product optimisation within the multiple play customer base related to the current macro-economic environment”.
Telenet’s premium subscriber base accounted for around 34% of its total enhanced TV customer base as of Q1.This was 1% lower than a year earlier.
The operator’s revenues in Q1 amounted to €702.8 million, or 9% more than in the same period last year. Its adjusted EBITDA was €319.6 million (-3%) and net profit €16.8 million (-90%).