Broadband and TiVo lift Virgin Media revenue

VIRGIN Media reported better than expected sales yesterday, driven by strong demand for the cable operator’s internet-connected television and high-speed broadband services.

The popularity of Virgin’s TiVo equipment, which offers on-demand internet services as well as traditional channels, offset a seasonal fall in the number of cable TV subscribers.

Virgin signed up its one millionth TiVo subscriber this month, having added more than 260,000 users in the three months to July, which helped sales rise 4.2 per cent to £1bn for the period.

The company lost 14,700 pay-TV customers overall during the quarter, a time when many students cut the service off before the summer.

Subscribers to Virgin’s superfast internet service increased by 460,000, although income for the period fell from £98m to £72m.

Chief executive Neil Berkett said: “We are well placed to benefit from the fast-growing demand for superfast broadband and TiVo positions us well to lead the evolving TV market.”