UPC Ireland sees rise in number of phone, broadband subscribers
Strong growth in phone subscriptions sees company strengthen its market share
The Liberty Global owned company said that total subscriptions increased by 6 per cent or 65,200 in Q3 compared with the same quarter in 2013.
UPC Ireland added a further 13,600 customers in the third quarter of the year, bringing its total subscription base up to 1,105,200.
The Liberty Global owned company said that total subscriptions increased by 6 per cent or 65,200 compared with the same quarter in 2013. Broadband subscriptions grew by 9 per cent year-on-year to 359,100, while phone customers increased by 21 per cent in the same period to 336,300.
Carol Grennan, chief financial officer of UPC Ireland said the company will continue to focus on “innovative new services where we are providing the best overall experience and value for our entire customer base including our Horizon TV service which recently passed 100,000 subscriptions.”
Globally, Liberty Global, the international cable company controlled by billionaire John Malone, said that third-quarter revenue climbed 5.2 per cent as more customers signed up for its subscriptions services. Sales increased to $4.5 billion(€3.6bn) from a year earlier.
Liberty Global, which also said it completed its tender offer for Dutch cable company Ziggo NV, has expanded through purchases across Europe and owns operations stretching from Hungary to the UK. With cable targets dwindling, the company has added TV content and production to drive growth. The integration of Ziggo “will drive substantial cost and revenue synergies over the coming years,” Liberty Global chief executive officer Mike Fries predicted.
Liberty Global reported quarterly net income of $157.1 million, or 20 cents a share, compared with a loss of $830.1 million, or $1.04, a year earlier. Liberty Global said it provided 49.2 million subscription services, an increase from 47.8 million a year earlier. The company won the European Union’s approval last month to acquire Ziggo in return for selling a Dutch pay-TV channel and pledging to end clauses in contracts with TV broadcasters that restrict the ability to offer content on the Internet.
In July, Liberty Global bought a 6.4 per cent stake in ITV, the UK’s biggest commercial broadcaster with top-rated shows such as “Downton Abbey, ” from Rupert Murdoch’s British Sky Broadcasting Group.
Liberty Global paid £481 million for the shares and said it didn’t have immediate plans to make a full takeover bid.
(Additional reporting Bloomberg)