Virgin Media has published its financial results for the first half of 2011 and the quarter ending June 30th 2011. Key points being that half of the new broadband customers to the firm are opting for the 30Mbps or faster cable broadband services, the number of cable customers shrank by 36,000 om the second quarter, though most were people taking a single service.
The reduction in numbers appears to have been offset by revenue from people taking bundles of services, where average revenue for each customer grew by 3.2% to £47.35. To some extent this is helped by growing demand for their 50Mbps and 100Mbps products which now have 170,000 customers between them, a 45% increase since the year end. In total there are some 1 million customers on the 20Mbps or faster products. The total number of cable broadband customers is 4,048,600 customers, which means there are around 2.8 million customers on the older 10Mbps service.
The Virgin Media ADSL/ADSL2+ service has some 265,900 customers, which given the comparable size to Plusnet makes it odd that they are not included in the Ofcom broadband speed measurements.
The growth in the higher speed products of 50Mbps and 100Mbps is a good sign, but this still only represents 4.2% of customers opting for the one of the fastest broadband products available in the UK. A figure that other firms rolling out super-fast services will be watching closely as they judge how much to invest in roll-outs.