TiVo drives ONO to No 3 in Spain
Juan Fernandez Gonzalez | 09 May 2014
ONO's income increased by 2.8% in Q1 2014, with customers gained in every business sector. The cable company, recently bought by Vodafone, is now the third pay-TV option in the country, right behind Movistar TV, mostly thanks to its TiVo platform.
As with many other operators, quad-play packages are driving the growth. ONO added 283,000 new customers between TV, telephone, Internet and mobile, reaching more than 5.5 million clients.
In spite of the growth in income (€410 million by the end of March), ONO's profits dropped €24 million, although the company insists that the new convergent strategy is being welcomed by the market. Profits have also been affected by the company's investments, totalling €83 million in Q1.
Nearly two million clients are paying for ONO's convergent packages, in which fibre Internet and pay-TV are acting has the main hooks. ONO's Internet service has 1.56 million customers, while 1.3 are also paying for mobile packages.
With over 700,000 customers, ONO's pay-TV growth is mostly driven by the interactive service TiVo, which currently represents 49% of the company's TV services. In addition to the interactive set-top box features, TiVo clients have access to over-the-top (OTT) and video-on-demand (VOD) services through ONO TV online.
"We have made an important commercial effort, thanks to which we have increased our customer base and consolidated our strategic products," said Rosalía Portela, CEO. "So far it has been one of the best commercial quarters for the company".