Telefónica sees strong TV growth

Telefónica had 2.5 million TV customers in Spain at the end of September, up 275,000 quarter-on-quarter and up 1.6 million compared with the same period last year.

The company’s Movistar Fusión bundled offering had four million customers at the end of the period, accounting for close to 90% of gross additions for the period. The offering accounted for over half of new Movistar customers in the period. Some 58% of Movistar Fusión customers take pay TV, including 120,000 satellite TV customers.

Revenue from the Spanish operation grew for the first time since the third quarter of 2008, rising 0.2% year-on-year to €2.998 billion. However, OIBDA fell by 2.9% to €1.335 billion thanks to costs related to TV programming.

Pay TV in Latin America also grew. Telefónica Brasil saw its TV base grow by 19% year-on-year to 1.8 million, while Spanish-speaking America saw pay TV subscribers rise 17% year-on-year.

Telefónica’s overall consolidated revenue grew by 12%, while net income grew by 69.6% to €4.577 billion.

The company’s Movistar Fusión bundled offering had four million customers at the end of the period, accounting for close to 90% of gross additions for the period. The offering accounted for over half of new Movistar customers in the period. Some 58% of Movistar Fusión customers take pay TV, including 120,000 satellite TV customers.

Revenue from the Spanish operation grew for the first time since the third quarter of 2008, rising 0.2% year-on-year to €2.998 billion. However, OIBDA fell by 2.9% to €1.335 billion thanks to costs related to TV programming.

Pay TV in Latin America also grew. Telefónica Brasil saw its TV base grow by 19% year-on-year to 1.8 million, while Spanish-speaking America saw pay TV subscribers rise 17% year-on-year.

Telefónica’s overall consolidated revenue grew by 12%, while net income grew by 69.6% to €4.577 billion.