Telenet cable TV churn hits five year low

Belgian cable operator Telenet said it lost 8,700 basic cable TV subscribers in Q2 2013  – its lowest level of basic cable television churn since Q2 2008. 

The firm said that subscribers to total basic analogue and digital cable television services were 2,097,500 at the end of June 2013, which represented approximately 73% of homes passed by its network.

This represented a net organic loss of 20,100 basic cable TV subscribers since the start of 2013 – a “sharp improvement” compared to last year’s loss rate of 46,300, which Telenet attributed to an “intensely competitive environment” and an analogue channel reshuffle implemented in April last year.

Telenet said that subscribers to its Telenet Digital TV platform grew 12% year‐on‐year to 1,453,200 at the end of June 30, 2013. Over the first six months of 2013, the firm attracted 53,000 net digital TV subscribers, of which 20,100 were added in Q2 2013.

Telenet added that at the end of June 2013, 196,100 customers subscribed to its pay television sports channels, representing an increase of 7% compared to June 30, 2012.

“Since the acquisition of the Belgian football broadcasting rights, we have recorded a strong 58% increase in the number of subscribers to our pay television sports channels,” the firm said.

Commenting on the firm’s results, Telenet CEO John Porter said: “Approximately 69% of our TV customers are enjoying the numerous benefits of watching digital. And despite new competition in the lower end of the market, our basic cable TV churn in Q2 2013 was one of the lowest since the start of digital TV in 2005.”

Overall, revenue for the first half of 2012 came in at €813.6 million, up 12% year-on-year. Net profit was up 340% to €110 million.