Virgin Media Posts £5m Q1 Loss Despite Subscriber Growth

12 May 2008

LONDON: Virgin Media, the US-owned British cable services operator declared itself "well positioned for growth" after recruiting 4,900 net customer additions in its first quarter to March 31.

Despite which the cash-haemorrhaging company still languishes in the red with a loss of £5 million ($9.74m; €6.31m) during the quarter – nonetheless a £10m improvement on the year-ago period.

Claims ceo Neil Berkett: "Our first quarter results represent another solid operational performance. In particular, churn continued to decline, reflecting the emphasis that we have placed on this area. With our focus on customer value, reducing churn and stabilising ARPU, we are well positioned for growth."

  • The company also revealed it has reopened negotiations with principal rival BSkyB in a bid to regain the latter's mainstream channels including Sky One and Sky News.

    Following a bitter dispute over price, Virgin dropped the Sky channels in February 2007. But according to Berkett, a compromise could be in the offing.

    "We are in dialogue," said Berkett, "Both Jeremy Darroch [Sky's ceo] and myself are saying we'd like to do a deal. The unfortunate thing is we don' t have a conclusion. I'd love to do a deal but we haven't done one yet".

  • Data sourced from and; additional content by WARC staff