Virgin Media adds 37,000 TV customers

by Staff Brand Republic 08-May-08, 14:45

LONDON - Virgin Media has reported 37,000 cable TV customer additions and a net loss of £104m during the first quarter of the year.

The additions since the last quarter of 2007 take Virgin's TV subscriber total to 3.51m, of which 3.31m are digital TV subscribers.

On-network churn across the whole business fell to 1.2%, its lowest level since 2004, but a shift of existing customers to lower priced packages contributed to a decrease in average revenue per user from £42.24 in the previous quarter to £41.91.

Revenues were down 2% year on year to £1bn but the company narrowed its net loss from £120.3m a year ago to £104.4m.

The number of subscribers with Virgin's V+ digital video recorder grew 101,800 during the quarter to 364,200.

Neil Berkett, chief executive of Virgin Media, said: "Our first quarter results represent another solid operational performance. In particular, churn continued to decline, reflecting the emphasis that we have placed on this area."