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February 29, 2008

Virgin Media publishes Q4 2007 results

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by Dave Nixon

Virgin Media have released their results for Q4 2007, ending December 31st.
The figures show possibly one of the finest quarters since the NTL/Telewest merger into Virgin, with an on-net customer net accumulation of 24,400, up from 13,000 last quarter (‘on-net’ refers to where Virgin operate their own cable network).

The TV service has unquestionably seen the end of the recession that came about due to a spate between Virgin and BSkyB, with 61,100 net additions (the best for 7 years), up from 20,400 for Q3 2007, and 2,200 Q2 2007.

Regarding broadband users, Virgin saw a net addition of 106,200 customers to their Cable service and 5,000 to their DSL service (which operates where cable is unavailable), providing a total net addition of 111,200. This swells their total broadband customers to 3.7 million, up from 3.6 million for Q3 2007, conversely it is a down turn in customer gain compared with 122,900 net additions last quarter. The statistics also show a 49.5% triple-play penetration, up from 47% last quarter.

With 3.7 million broadband customers Virgin are asseting to the UK’s largest residential broadband provider. BT still pinnacle them on total number of broadband connections of 4.25 million at the end of 2007, however it isn’t noticeable how close the battle is in the residential arena without a break down of BT’s business vs residential figures.

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