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Joined: Aug 2004
Posts: 22,315
Wiki Master
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OP
Wiki Master
Joined: Aug 2004
Posts: 22,315 |
Virgin Media has unveiled its quarterly results today, showing the number of customers exiting the service has fallen from 1.7% in Q4 2006 to 1.6% in Q1 2007.
Despite the fall in churn, the company's total revenue has dropped 59.7 million from 1,081.6 million in Q4 2006 to 1,021.9 million over the first three months of this year. Gross customer additions were also down 29,200 to 184,300 from 213,500 in Q4 2006.
Following the merger of Virgin Mobile, Telewest and NTL last year, the company was rebranded Virgin Media in January at a cost of £25 million. I seen that one coming lol! They dont alf do things on the cheap too, £25 million to promote a new brand and create brand awareness... no wonder most customers didnt have a clue until their bills started saying Virgin Media on them. And to think Sky spent £30 million in the first 3 months "just" promoting the launch of Sky+!!  Digital Spy Report
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Joined: Nov 2003
Posts: 21,269 Likes: 4
Wiki Master
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Wiki Master
Joined: Nov 2003
Posts: 21,269 Likes: 4 |
They never heard of world poverty ? Stupid money to re-brand, i can see it now, Richard how much shall we spend on the new name change, err about 20 million or so  Err Excuse me Richard, we spend 5 Million too much. Not too worry the customers will pay for it 
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Joined: Aug 2004
Posts: 22,315
Wiki Master
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OP
Wiki Master
Joined: Aug 2004
Posts: 22,315 |
To be truthful... it probably hasnt cost them a single penny, they are saving more then £25 million by not having the Sky channels!
now thats seriously good cheap skating lol!
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Joined: Nov 2003
Posts: 21,269 Likes: 4
Wiki Master
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Wiki Master
Joined: Nov 2003
Posts: 21,269 Likes: 4 |
I bet it wasn't in the business proposal to the share holders.
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Joined: Aug 2004
Posts: 22,315
Wiki Master
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OP
Wiki Master
Joined: Aug 2004
Posts: 22,315 |
The business proposal was of course how to maximise revenues (as with all companies).
They went with the idea of removing some flagship channels and hoping customers wouldnt really notice haha!
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