Telenor slows pay TV subscriber losses, increases EBITDA
Telenor-owned Nordic pay TV operator Canal Digital recorded a slowing down of its subscriber losses and solid nominal EBITDA growth for the second quarter.
Canal Digital lost 2,000 subscribers over the quarter, the lowest rate of loss since the third quarter of 2008. DTH subscribers in Norway now number 492,000, down 11,000 year-on-year, while Swedish, Danish and Finnish subs number 308,000, 104,000 and 49,000 respectively, all down year-on-year, with Denmark recording the largest loss after Norway, of 9,000 customers.
Canal Digital posted revenues of NOK1.109 billion (€150 million) for the quarter, flat year-on-year as price increases and stronger hardware and services sales were offset by subscriber losses and negative currency movements. Canal Digital’s EBITDA grew by a 23% year-on-year to NOK159 million.
Telenor Broadcast overall posted revenues of NOK1.697 billion, down 2% and EBITDA of NOK504 million, up 11%. Conditional access unit Conax saw revenues grow by 6% to NOK141 million, while EBITDA grew by 22% to NOK63 million. Telenor Satellite Broadcasting (TSBc) posted revenues of NOK248 million, up slightly year-on-year, while EBITDA grew by 3% to NOK165 million, and broadcasting infrastructure arm Norkring saw revenue fall by 4% to NOK227 million, with EBITDA up slightly to NOK116 million.
Separately, TSBc says it has pre-sold nearly its entire allocation of occasional-use capacity at the 1°West orbital position for special broadcast services during the forthcoming London Olympic Games.
As well as a contract with the BBC signed in 2011 for capacity on TSBc’s IS 10-02 satellite at 1° West, TSBc has agreed deals with other major broadcasters, including TV 2 Denmark and Danmarks Radio, to meet their capacity requirements throughout the Olympics.