Posted: 27th Oct, 2011 By: MarkJ
Cable giant Virgin Media UK has today released their latest quarterly financial results (Q3-2011), which saw the operator
return to growth, following a brief Q2 dip, to top
4,333,600 broadband ISP subscribers (up by +19,100 from 4,314,500 in Q2-2011).
The vast majority of Virgin's broadband subscribers (4,072,900) use its ultrafast cable (
DOCSIS /
EuroDOCSIS) platform, although the
Virgin National (Virgin.net) / ADSL2+ based non-cable services still account for
260,700 of the total (down by -5,200 from 265,900 in Q2).
Neil Berkett, CEO of Virgin Media, said:
"Our results show that we’re successfully serving what is a rapidly emerging market for better quality services. The demand for superior connectivity is accelerating as more people, regardless of their circumstances, recognise the best digital technology is worth paying more for.
Over a quarter of our entire base now subscribe to speeds of 20Mb or higher and a record number of customers joined us on superfast broadband speeds during the period with. In TV, we have quadrupled the number of households using our game-changing TiVo service and customer advocacy for this product is very strong.
We are increasing the value and mix of our customer base as people add or move to higher tier services and as new joiners increasingly take up higher value products."
Some 26% of Virgin's cable broadband base (over one million households) now take its
20Mbps or faster services and 54% of "
new" subscribers are adopting superfast speeds of
30Mbps or higher. At the time of writing their 30Mbps service is home to roughly 500,000 subscribers, with 187,000 on their top
50Mbps and
100Mbps packages (up from 170,000 in Q2).
The 100Mbps service in particular, which launched at the end of 2010, will be
available to half of the UK by mid-2012 and over
eight million homes can already access it. Overall Virgin Media saw quarterly
revenue growth of 2.2% to reach £1bn, while their
Average Revenue Per User (ARPU) grew by 3.2% to record £47.86.