TalkTalk retains TV crown as its user base soars

 
Oliver Smith
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TALKTALK’S YouView TV offering continues to outpace the growth of both BT’s and Sky’s TV services, adding 185,000 subscribers in the first quarter and taking its TV customer base to more than 1.1m.

The FTSE 250-listed firm reported its sixth consecutive quarter of year-on-year revenue growth during the three months to 30 June, with total revenues up 3.1 per cent to £434m.

“Our strategy for growth continues to deliver according to plan, and we are delighted to report another quar­ter of base growth and year-on-year revenue progress, including continuing strong momentum in new products such as TV, and data services in TalkTalk Business,” said TalkTalk chief executive Dido Harding in the firm’s interim management statement yesterday.

TalkTalk’s TV products are aimed at customers upgrading from free-to-air digital TV offerings.

While the firm added only a modest 10,000 broadband adds during the quarter, it was the seventh consecutive quarter of growth on that measure as well.

TalkTalk’s customer churn also beat expectations, falling to just 1.4 per cent of its customer base.

Despite expectations of a share­holder rebellion at TalkTalk’s annual meeting yesterday, both its remuneration report and policy were supported by 97.3 per cent and 93.6 per cent of voting shareholders respectively. Talk­Talk’s shares slipped one per cent to 316.8p yesterday.

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