Virgin Media's quarterly results have shown that it now has 222,000 subscribers to its flagship TiVo cable service, with its superfast broadband business growing fast.
The TiVo service is now being pushed hard in ad campaigns and that appears to be having an effect, with 127,200 net additions in the quarter – one third of which are new to Virgin Media.
Apparently over one million households are now on 20MB broadband or higher, while 54 per cent of new subscribers are signing up for 30MB or up services.
Success
Neil Berkett, Chief Executive Officer of Virgin Media, said: "Our results show that we're successfully serving what is a rapidly emerging market for better quality services.
"The demand for superior connectivity is accelerating as more people, regardless of their circumstances, recognise the best digital technology is worth paying more for.
"In TV, we have quadrupled the number of households using our game-changing TiVo service and customer advocacy for this product is very strong.
"We are increasing the value and mix of our customer base as people add or move to higher tier services and as new joiners increasingly take up higher value products.
"This, along with subscriber growth, has increased revenue and we have had further substantial increases in free cash flow and OCF. Our strong and sustained financial performance allows us to continue to invest in giving our customers more value and further differentiating our range of market leading products."
On the financial front, Virgin Media showed quarterly revenue growth of 2.2 per cent – up to £1 billion – while the company received £348 million in cash as part of the sale of the UKTV channels.
