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Virgin Media experiencing strong broadband growth

In its Q1 results, Virgin Media say net broadband additions are up from the previous quarter.

There were net additions of 87,900, up from 78,100 for the same period in the last quarter.  The company has 3.15M cable broadband customers and a total of 3.41M broadband customers including non-cable broadband.  Trials are currently being conducted of a higher speed 50Mb cable service.  They also emphasised the advantages of its cable network, including consistent broadband speeds regardless of location on the network.

However, overall revenues for the Virgin Media group declined at £1,021.9M compared to £1,081.6M in Q4 2006.  Net additions in its Cable service were lower than the previous quarter, mainly due to the removal of Sky’s basic channels from its TV platform.  Virgin Media says the publicity during the removal caused customer confusion and affected the acquisition of new subscribers.

Steve Burch, CEO of Virgin Media, said:

“Our first quarter of 2007 shows strong growth in TV and broadband, while fixed line telephone continues to struggle. We are encouraged by the decline in churn and the impact that our rebrand message is having on consumers. The £25 million incremental spending on rebrand and marketing will have long term benefits as we establish our position in the marketplace. With reinvigorated products and packaging, and a focus on cash flow growth, the outlook for our business remains strong”