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Virgin Media Tops 3.93m Broadband Subscribers

Posted: 25th Feb, 2009 By: MarkJ
Virgin Media has reported its latest fourth quarter 2008 results today, which saw the operators broadband subscriber base (cable modem and ADSL) inch forwards from 3,885,800 at the end of Q3 to 3,934,800 (+49,000) now. This represents a fairly static rate of growth over the previous quarter.

Naturally the bulk of this increase came from Virgin's cable based broadband platform (3,682,800), while those on its lesser known Virgin.net (ADSL) side reduced from 260,100 in Q3 to 252,000. This sadly became somewhat of a common trait for the ADSL service throughout much of last year:

Neil Berkett, Chief Executive Officer of Virgin Media, said: "Since its launch in December the consumer response to our next generation 50Mb broadband service has been encouraging and helped reinforce our position as the UK's leading residential broadband provider. We have also extended our lead in the video-on-demand and catch-up TV markets, which we believe to be valuable services in retaining customers and attracting prospects to Virgin Media. Over the course of 2008 we received more than half a billion views as on-demand TV came of age.

A GBP 300m repayment of our debt in the quarter, along with the amendment of our senior credit facility in November 2008, and our operational improvements mean Virgin Media today is a strong business with a stable foundation. In 2009, we intend to continue working to build stockholder value by maintaining a relentless focus on operational efficiency and delivering a range of superior services.
"

The percentage of Virgin Media's broadband customers on their 10Mbps and 20Mbps tiers is now 21% and 11%, respectively. From May 2009 the provider plans to begin upgrading its 2.5m existing 2Mbps customers to the faster 10Mbps service.

Happily Virgin Media do appear to be weathering the current financial climate (recession) better than some ISPs, such as Tiscali and Orange, though they like many other broadband providers will continue to face difficult challenges throughout a turbulent 2009.
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