Mobile revenues down 11 per cent but subscriber numbers still increase
Virgin Media’s Q1 revenues for the three months ending March 31 this year has seen an annual increase from £1.17 billion to more than £1.21 billion.
Turnover in the UK made up £1.13 billion. Total operating income across the company dropped from £89.1 million to £59.9 million over the year.
Cable subscription revenues took up the largest chunk with £863 million, while £95.8 million came from mobile, down 11 per cent from the previous year. More than 14 million customers were subscribed to its video, internet and fixed line telephone services in the three months, up from 13.8 million the previous year.
Virgin’s mobile customers did increase annually, from 3.007 million to 3.043 million in Q1. It claimed the migration from subsidised contracts to ones which split airtime and handsets led to the reduction in revenue.
Dana Strong has been appointed consumer president, while Jeff Dodds is now MD of mobile. Strong held previous roles as Liberty Global chief transformation officer and Virgin Media chief operating officer. Dodds was most notably TalkTalk director of mobile from April last year.
The broadband company has brought fibre broadband with speeds of up to 350Mbps to hundreds of businesses in Manchester.
Virgin’s new range of business broadband products are labelled as ‘Voom Fibre’ and was launched on May 2, with prices starting from £30.