Magenta TV sees success in Deutsche Telekom in Q1 earnings

Magenta TV, the OTT service offering from Deutsche Telekom, has “gained ground” in the competitive German market since its launch in October 2018, the company’s Q1 earnings report has revealed.

On May 9, Deutsche Telekom announced its quarterly earnings, with growth in the OTT market proving a particular point of success. According to the report, 66,000 new customers signed up to Magenta TV in the last quarter. This brings the total number of subscribers to 3.4 million, an increase of 7.1% from March 2018 (when the service was known as Entertain TV).

German TV revenues for Q1 reached €391 million. This represents a 7.4% increase from €377 million in Q4 2018.

The company also announced that 4.4 million customers now use MagentaEINS, a convergence product package of fixed-network and mobile communications. This is an increase of 17.1% year-over-year. 53% of branded mobile contract customers now use MagentaEINS packages, an increase of 9% in the year.

Throughout the  Europe, Deutsche Telekom boasts 4.9 million customers, up from 4.83 million the previous quarter – an increase of 1.4%. From an annual perspective, the subscriber count has risen by 14.8%. This growth is primarily attributed to new business in Croatia where there are now in excess of 1 million subscribers. Gains in Croatia, Hungary and the Czech Republic have offset customer losses in Romania.

The report surmises that “with both telecommunication providers and OTT players offering TV services, the TV market is already saturated in many countries of our segment”.