Hot loses TV subs as mobile grows
March 20, 2018 11.24 Europe/London By Julian Clover
Patrick Drahi’s Hot shed 22,000 TV subscribers during 2017, but the Israeli cablenet drew in 6,000 internet subs and 117,000 to its mobile service.
The changing tide has seen subscribers leave the traditional cable television service in favour of internet platform Next TV. Overall cable TV revenues slipped by 1 per cent to NIS 3 billion (€703 million). Triple play customers dropped by 9,000.
“We have attained a significant achievement in the first quarter of 2018, with positive growth in the number of customers for the first time in eight years, despite growing competition in the communications market. This proves that the company’s customers are unwilling to compromise,” said Hot CEO Tal Granot Goldstein. “Hot is the only communications group in Israel has grown for the second straight year and that finished 2017 with improvement in all financial measures. Hot Mobile recruited the most subscribers in the mobile phone market for the third straight year, and continues to improve in revenue, all financial measures, and strong growth in end-user equipment sales.”
EBITDA grew 5% to NIS 1.7 billion.