Nynex CableComms Group has announced first quarter financial figures which show that the cable operator’s losses have been reduced from £25m in 1995 to £23m. Total revenue increased by 92% from £16.9m to £32.5m, cable television revenue increased 79% to £14.3m and average monthly revenue per customer increased to £23.44 from £21.28.
During the first quarter Nynex also participated in its first pay-per-view event: 35,287 subscribers paid to view the Bruno Tyson fight (17.9% of the customer base), which generated revenue of £300,000.
The number of homes passed by Nynex increased to just over 1 million compared to 687,000 in the same period last year. Penetration rates increased to 19.7% from 19% last year and the churn rate dropped from 32.1% to 30.1%.
Installation costs for the quarter have risen to £1m from £0.7m last year. Operating costs have also risen – from £38.2m to £51.6m as a result of the continued growth in Nynex’s network and customer base.
Nynex: 0181 873 2000
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