Virgin Media's loss widened to £163.2m in the last three months of 2007 - despite faster growth in TV subscribers.
It lost money for the tenth successive quarter and the figure was worse than its £122.1m loss in the last three months of 2006. Its overall revenue was £1.05bn - down from £1.08bn year-on-year, according to results released to investors today.
However, Virgin said it was confident in its strategy of focusing on fast broadband over premium television content. The quarter saw its fastest growth in television subscribers for seven years, with Virgin reporting net gains of 61,100, up from 20,400 in the previous quarter.
The company attributed the increased TV takeup to the "attractiveness of [the] video on demand platform", which is being used by 47% of its TV customers every month. It believes uptake of its high definition V+ personal video recorder, largely driven by a price promotion, also increased uptake.
When will they ever learn that continuously offering rediculous loss-making discount's in a desperate attempt to retain customer's will never yeild a profitable company... Digital Spy Report