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Liberty posts first-half loss while Virgin TV shines and next-gen video services grow

With rising trends in video, products such as Horizon TV have been the ray of hope for Liberty Global especially in Europe as quarterly and six-monthly results were revealed for the first half of 2017.

Liberty Global’s European division posted revenue of $3.664 billion with a year-on-year increase of 1.6% leading to a half-yearly total of $7.183 billion, up by 1.9% annually.

Second quarter and half-year operating income was $483 million and $914 million respectively with declines of 5% and 11.7%.

Liberty expanded with 406,000 RGUs across Europe with a 16% year-over-year improvement in Western Europe with what the Company called its strongest H1 video performance since 2006 and with continued network expansion.

This improvement in video results was attributed to strong performance by Virgin Media in the UK that presented best ever Q2 video RGU additions of 33,000 as compared with a prior loss of 17,000.

Some more interesting findings were that almost a tenth of video subscribers in UK had a new box with Liberty adding 302,000 subscribers in Q2 which took its total next-generation subscriber base to 7.2 million.

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