Broadband boosts NTL
Ups revs, narrows losses
A third of NTL subscribers now subscribe to the cableco's broadband service.
So says NTL, which reports that it now has more than 911,000 broadband punters, although it is debatable if it should include its 150k entry level product among its "broadband" numbers.
Nevertheless, NTL claims that the number of broadband customers increased by 100,400 to 864,600 by the end of September (it's now nudged past 911,000).
And that increase in broadband take-up helped increase the average amount each punter spends with NTL to £41.43 a month.
Publishing Q3 figures for the quarter to the end of September, NTL reports that turnover increased to £555 million from £534 million compared to the same period last year. Net loss fell from £369 million to £117 million.
NTL chief exec Simon Duffy said "broadband growth is maintaining momentum as we continue to increase our market share in our franchise areas".
Yesterday, NTL faced a committee of MPs to discuss the progress made to date on broadband. In its submission to the Trade and Industry Select Committee NTL said that cable had been the "driver of broadband right from the beginning".
"The success of cable companies competing with BT at the infrastructure level stands in marked contrast to the competitive and regulatory mess that has characterised competition over the BT network," said NTL.
"It is only infrastructure-based competition from cable broadband that has served to keep BT 'honest' and ensure consumers have a wide range of products to chose from." ®