Friday 23 February 2018

Virgin Media Ireland posts 2pc increase in revenue following UTV Ireland acquisition

Virgin Media
Virgin Media
Ellie Donnelly

Ellie Donnelly

Virgin Media Ireland has posted a 2pc increase in revenue in the three months to 30 June, reflecting the company’s acquisition of UTV Ireland, which is now part of TV3 Group revenues.

Revenue at Virgin Media Ireland - previously UPC Ireland - for the three months to 30 June was €102m.

In addition, the company cited the continued growth in its Mobile and business to business segments as factors behind the growth.

Commenting on the results, Paul Farrell, vice-president of commercial at Virgin Media said that the group was generating real momentum with its network build and have already switched on new homes and businesses in Dundalk, Drogheda, Ballina, Enniscorthy, Gorey, Tullamore, Kildare and Greystones.

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"Ultrafast Broadband is becoming essential and our new customers are benefiting from being connected to... ultrafast broadband," Mr Farrell said.

The company said that it continued to champion small businesses and innovation through our UK and Ireland VOOM Competition.

During the three months to 30 June, an additional 13,000 mobile users were added to its network in Ireland, enticed by its SIM-only postpaid mobile operation.

The company now has 40,500 mobile customers in Ireland.

In May this year TV3 officially opened a newly upgraded Studio One and recorded an all-time high of 18pc share of viewing.

TV3 has also announced a strategic partnership with Sky to give advertisers access to more than 30 million targetable television viewers in the UK and Ireland.

Virgin Media Ireland is part of the Liberty Global Group, an American international telecommunications and television company. In June 2013, Liberty Global Group acquired Virgin Media for $24bn in cash and stock.

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