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Virgin Media: Subscriber growth renaissance continues - Venture Insights

Report Overview

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Virgin Media: Subscriber growth renaissance continues

PublisherEnders Analysis.
Publish Date November 12, 2020
Sector Media, Technology, Telecom, UK, UK Broadband, UK Media.

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Virgin Media’s lockdown subscriber surge continued into Q3, as working-from-home highlights the importance of the faster speeds its network can offer.

Contents

Subscriber growth returns, ARPU a tougher nut for now

Subscriber renaissance continues

ARPU was however weak, and will get weaker

New customer pricing remains firm

EBITDA hit by one-offs, but worse to come

Still winning in ultrafast…for now

Guidance maintained, tough Q4 for profitability

List of charts/tables

Figure 1: UK cable revenue growth and group EBITDA growth

Figure 2: Virgin Media UK consumer cable operating performance

Figure 3: Virgin Media UK cable revenue and operating statistics

Figure 4: Virgin Media selected recent price changes

Figure 5: Broadband entry level pricing, new customers (£/month)

Figure 6: Broadband high speed pricing, new customers (£/month)

Figure 7: Virgin Media Group operating performance

Figure 8: Project Lightning progress (000)

Figure 9: Gigabit-capable premises covered (m)

Figure 10: Liberty Global 2020 guidance