Virgin Media reports strong Q3 results

Virgin Media has reported strong third quarter results, with revenues up 1.3% to £953 million and 39,000 new broadband customers.

The cable company now has 3.8 million broadband customers, while its TV customer base stands at 3.7 million following a rise of 37,000.

In results released this morning, Virgin also revealed that its video-on-demand (VOD) service has an average monthly reach of 55% of digital customers, with VOD views hitting their highest ever average at 66 million per month.

Revenue at VMTV, home of pay TV channels including Virgin1 and Living, was up year on year from £30.9 million to £34 million in Q3.

Neil Berkett, chief executive officer of Virgin Media, said: “I am pleased to report that this quarter’s results delivered a strong OCF performance. I believe this demonstrates the success we have had in significantly differentiating and monetizing our compelling consumer proposition. Our triple-play penetration is at record levels and over 10% of our customers now take all four services from us.

“Our focus remains on attracting high value customers, who buy more from us and stay with us longer. This strategy has led to the second successive quarter of record ARPU and strong consumer revenue growth. I am delighted that these results show we are progressing significantly in this regard.”