27.4% more subscribers for Nova-Forthnet

Greece’s Nova ended 2014 with a record 363,549 triple play subscribers, or 27.4% more than a year earlier.

Meanwhile, its pay-TV subscriber base grew by 12.1% year-on-year to reach a record 507,261.

In its latest set of results, Nova’s owner Forthnet says it expects the rollout of triple play services to be the main growth driver for the pay-TV market.

It also notes that Nova GO reached 100,000 active users in less than a year after its launch and is now provided to all Nova and Nova triple play customers.

Referring to non-binding offers submitted in July 2014, Forthnet says it agreed to independent due diligence, according to the law, and that the process has now been completed.

The company had normalised revenues of €384,496,000 in 2014, down by 0.1% on a year earlier. Its adjusted EBITDA was €59,355,000, a 7.1% reduction on 2013.

Meanwhile, normalised pay-TV revenues in 2014 were €18,107,000, up 8.1% on a year earlier.

Commenting on the results, Panos Papadopoulos, the company’s CEO, said: “Despite a difficult macroeconomic environment that resulted in turnover contraction in our sector, our strategy stabilised turnover and increased the subscription base in our key business units. Our subscribers’ base increased steadily, primarily due to Nova 3play, against a backdrop of intense price competition. For the quarters to come we continue implementing our strategy on the development of innovative products and services that differentiate us from the competition and adjust further the company’s cost base in order to be prepared for the continuously changing market conditions.”

Source: http://www.broadbandtvnews.com/2015/03/31/triple-play-boosts-greek-nova/