Virgin Media Q2 results published
Virgin Media is proud of the handy stat that 40% of its subscribers are on a 100 Mbps or faster broadband package as the Q2 2015 results are announced and this is double the amount for Q2 2014.
The growth in ultrafast customers (100 Mbps or faster) has in many cases been driven by the free upgrades and with triple play packages being the most popular we suspect that as the bundles with movies and sports come with 100 Mbps or 152 Mbps packages this will be driving take-up rather than lots of individuals choosing a 100 Mbps service over the cheaper 50 Mbps package.
Importantly after years of fairly static network growth Virgin Media is growing its footprint and Project Lightning has added 54,000 premises so far and the network passes some 12,684,100 premises adding 144,000 premises in the last 12 months.
The Q1 results merged the UK figures with Ireland, so we cannot talk about Q1 UK customer numbers, but the Q2 results split them out again and with 4,570,300 broadband customers this is an increase of 34,300 connections in the last six months. The millions of broadband customers are also doing more with average data usage now running at 108 GB per month.
The key moving forward for Liberty Global is whether the take-up in areas where it is expanding its footprint will demonstrate demand that justifies continued roll-out to reach the eventual aim of 70% UK network coverage. Some are keen for Virgin Media to arrive to deliver better broadband where Openreach has not done so in parts of some cities, but others are waiting for Openreach to roll-out as they are not happy with the Virgin Media products available to them, the big unknown is which camp is the bigger one when it comes to parting with hard earned cash.