Vodafone breaks 9MN TV subs barrier in fiscal year
DetailsEditor | 20 May 2015
In a year that has seen an overall return to growth in the last quarter, Vodafone has revealed a strong performance in its TV business during the 2014/15 financial year.
For the 12-month period ended 31 March 2015, group revenue was up 10.1% to £42.2 billion. Yet full year organic service revenue declined 1.6%, while EBITDA was down 6.9% at £11.9 billion.
But awash with £80 billion of cash from selling its half of Verizon Wireless to the American comms giant, TV has been a key business line for the mobile operator. In November 2014 Vodafone teamed up with Kabel Deutschland to provide German TV viewers with what they claimed was the best products from their respective worlds, and in December 2014 the company was the subject of a number of rumours that it was poised to make a huge TV play with the acquisition of Liberty Global and blinkbox.
The results showed that at the end of the year, through organic investment and acquisition, Vodafone now covers 28 million households across Europe with its own fibre or cable infrastructure. In the 2015 financial year, a quarter of service revenues in Europe came from fixed lines, compared with just 10% five years ago. This has formed the basis for the current 9.1 million TV customers in Europe in a year in which Vodafone also completed the acquisition of Ono, Spain's No 1 cable operator covering seven million homes.
In the coming weeks, Vodafone will launch a consumer broadband proposition in the UK, with TV to follow later in 2015.