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Virgin Media Forecasts Better than Expected Quarterly Results
(11-06-07) - Virgin Media has released a statement that predicts better-than-expected TV subscriber levels in the second quarter of 2007.
The company’s first quarter results (published on May 9th) forecast decreasing subscriber levels because of Sky’s withdrawal of its basic channels from the Virgin Media digital TV service.
However, Virgin Media now says that subscriber levels are unlikely to have declined in the second quarter. According to the company’s statement, “this is due in significant part to the wide ranging mitigating actions we have taken. We have also benefited from reinvigorated communications and marketing, growing customer recognition of the value of our video-on-demand content and the inherent appeal of the new Virgin Media brand.”
It is possible that the ongoing battle between Virgin and Sky could have kept the company in the public eye and brought attention to Virgin Media’s remaining services. As it is sponsor of the new series of Big Brother, this attention is unlikely to diminish over the summer.
According to Broadcast, Virgin Media is currently close to agreeing a sports news channel deal to replace Sky Sports News.
Chris Eagle, Commercial Manager at www.digitalchoices.co.uk, says: “Virgin Media has succeeded in coming out of the Sky battle with very few scars. This can be partly attributed to its decision to let subscribers out of their contracts early, and we hope other companies follow their customer service example.”
