Com Hem grows TiVo amid increased losses
May 5, 2014 11.01 Europe/London By Julian Clover
TiVo Com HemAround 12% of Com Hemís installed base now have TiVo, but the Swedish cablenet is suffering subscriber erosion in its digital tiers, while profits slipped.
Net Loss for the Period SEK 255 million for the three months ended March 31, 2014, compared to a net loss of SEK 59 million for the three months ended March 31, 2013.
Com Hem has suffered under higher content costs and increased operational expenses relating to TiVo and its own Service Provider business.
Revenue from digital television services increased by SEK 4 million in the period to March 31, 2014. This was achieved through a combination of a better tier mix and the successful migration to the TiVo platform.
Since the commercial launch of TiVo approximately 74,000 DTV RGUs subscribe on a TiVo subscription. This is equivalent to a penetration of 12.4% of the DTV subscriber base, after only two quarters from the commercial launch.
However, the actual number of digital TV subscribers fell back by 16,000 or 2.6% from an average of 607,000 RGUs in the first three months of 2013.
Meanwhile the 1.83 million antenna households represents a new record, tempered by a fall in overall revenues.
In broadband, demand for high broadband speed and a better tier mix increased revenues.
Total high-speed broadband RGUs increased by approximately 22,000, or 4.0%, from an average of approximately 539,000 during the first quarter of 2013 to an average of approximately 561,000 during the first quarter of 2014.