Virgin Media is promising to offer its customers the fastest commercially available broadband network in the UK by the end of 2010.
It announced plans to roll out a 100Mb broadband service across parts of the UK in February as it gave its financial results for the previous quarter which were ahead of expectations.
Its revenue for the last three months of 2009 was GBP980million, boosted by it signing up an additional 28,600 subscribers for its cable service.
The company’s success is based on the high proportion of its customers – over 60 per cent – who are signed up for at least three of its offerings from pay-TV, broadband, and fixed and mobile telephone services. More than one in 10 of the total takes all four.
Cable customers are also contributing more to the group’s revenue, with income from these up 5.8 per cent over the quarter. These yields are set to grow further, as the company implements a series of price rises across its products in the coming months.
But Virgin Media chief executive Neil Berkett told Reuters that while the group was succeeding in upselling to its existing customers, it was attracting new subscribers at the same time.
And he believed the roll-out of its superfast broadband would see this migration take a further step forward.
“The launch of Virgin Media’s 100Mb service will be a historic moment and will mean the UK will be comparable to other leading broadband nations,” he said.
