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Virgin Media Tops 3.88m Broadband Subscribers

Posted: 06th Nov, 2008 By: MarkJ
Virgin Media has reported its latest third quarter 2008 results today, which saw the operators broadband subscriber base inch forwards from 3,836,100 at the end of Q2 to 3,885,800 (+49,700) now. This represents a nominal slowdown from +54,300 in the previous quarter.

The bulk of this increase came from Virgin's cable based broadband platform, while those on its Virgin.net (ADSL) side reduced from 272,700 in Q2 to 260,100 now:

Neil Berkett, Chief Executive Officer of Virgin Media, said: "These third quarter results represent another solid operational and financial performance as we continue to execute against our strategy. In particular, we have grown ARPU, churn remains lower than a year ago and our customers are buying more products from us than ever before.

In the face of a slowdown in the general economy, our business has shown good resilience and we are focused on keeping churn low, improving our operational execution and driving unnecessary costs and inefficiencies out of the business.

We continue to exploit our competitive advantages in leading next generation broadband in the UK and redefining the on-demand TV experience. Our fourth quarter will mark a major milestone as we launch our unrivaled 50Mb broadband service.
"

The slowdown is not unique to Virgin and has impacted all ISPs; in fact they appear to be maintaining a lower churn than some of their closest rivals. Furthermore the imminent introduction of a new 50Mbps broadband product, Mobile Broadband bundles and recent patching up of relations with BSkyB could even improve VM's growth come 2009.
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