Subscriber numbers grow
Virgin Media, the U.K. cable group listed in New York, reported increased losses in the fourth quarter of 2007 despite adding TV subscribers.The company lost £163.2 million ($323.1 million) compared with a loss of $174.4 million in the last quarter of 2006. Sales were $2.07 billion, down from $2.13 billion the previous year. But Virgin hailed what it said was the best growth in TV subs for seven years with a net gain of 61,100, a big improvement on 20,400 in the previous quarter. However, the run-up to Christmas is traditionally a strong period for pay TV operators. The net increase in broadband subscribers in the three months was 111,200, down from 122,900 in the last three months of 2006. Acting CEO Neil Berkett said: “We are achieving good results from our stated strategy of exploiting our superior network capability to drive broadband growth and deliver the next generation of personalized on-demand content, as well as focusing on reducing churn.”
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