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Ovum applauds BT’s Vision strategy

BT Tower, London

BT Tower, London

Industry analysts Ovum have praised the latest strong results posted yesterday by UK telco BT for its hybrid television service ‘BT Vision’, which is expected to be updated later this year.

In the first quarter of this year, the telco added 28,000 subscribers to its BT Vision service to reach over 700,000, up 23% on an annual basis. Additional content was also added to the TV service in the quarter as a result of deals with Miramax and UKTV.

Mark Giles, analyst at Ovum (part of Informa Telecoms & Media, publisher of IP&TV News), commented: “BT saw continued strong growth in Infinity and Vision (IPTV) subscribers. With its planned update to Vision 2.0 being implemented and the launch of YouView expected this summer, BT is ensuring that its IPTV service and overall bundled broadband plus content offering remains a draw for customers. This will really help differentiate its TV service versus Sky and Virgin, which until now it has struggled to do.”

Within its latest earnings statement, the telco also celebrated a considerable milestone for its fibre broadband project, having now passed 10mn homes and business with its roll-out, months ahead of its end-2012 target. Total revenues across all operations and markets for the 12 months to March 2012 reached GB£ 7.809bn, down 3% from one year previously, while EBITDA rose 6% to reach GB£ 627mn.

Mr. Giles commented on these financial results: “BT has presented solid results both financially and operationally in terms of subscribers. Despite its lack of content in comparison to Sky and Virgin, net broadband additions continued strongly in 4Q, signalling consumers’ preference for a strong bundle of services, and how much BT’s fibre offering is proving to be a differentiator.”

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