New platform uptake has contributed to a near doubling in the amount of TV customers for Canadian cable company Telus who has revelaed robust profit growth in the second quarter of 2010.
For the quarterly period ended 30 June 2010, Telus reported flat growth in revenue of $2.4 billion, an increase of only one per cent, and consolidated EBITDA increased by 5%. Reported net income of $296 million represented a year-over-year increase of 21%
At the heart of the growth has been steady rises over the last year in both total customer connections and TelusTV customers. The former increased by 288,000, driven by a 6.5% increase in wireless subscribers yet TV was the star performer with a 98% growth over the year. Telus TV net additions were 29,000, an increase of 71% over the same period in 2009. The company attributed this to improved installation capabilities, enhanced service including PVR Anywhere, investment in expanded broadband coverage, and addition of Telus Satellite TV service in mid-2009.
Darren Entwistle, Telus president and CEO was eager to point out exactly the specific items that were driving growth in the TV sector. He commented: "Telus continues to demonstrate leadership and innovation for the benefit of consumers with the recent launch of Optik TV powered by Microsoft Mediaroom with the advanced functionality of PVR Anywhere. Optik TV clients are among the first globally to be able to use the Xbox 360 as a digital set top box. Furthermore, we are now providing customers the flexibility to manage their PVR by using Remote Recording over the Web or iPhone while they are on the move."