Telefónica ended 2014 with 1.9 million pay-TV customers in its home market, or three times the number only a year earlier.

In its latest set of results, the company says that this was largely due to the success of Movistar.

In the fourth quarter alone, net additions amounted to 305,000, while churn was only 1%, or 1.9 percentage points lower than a year earlier.

The Spanish telco, which also has extensive TV interests in Latin America, had 5.1 million pay-TV customers in total at the end of 2014, gaining 437,000 in Q4 alone.

The group’s total revenues in 2014 amounted to €50,377 million, 11.7% down on the reported figure for the previous year.

OIBDA was €15,515 million (-18.7%), while the net income of €6,967 million contrasted with a loss of €34.7 million in 2013.