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Telefónica’s pay-TV growth stagnant in Europe

Spanish telecoms giant had reached the landmark of 1mn pay-TV subscribers in Europe by the end of the first half of this year, but reports that it barely moved from one year earlier, up just 1%.

In Latin America however the company enjoyed brisker trade: total number of pay-TV accesses stood at 2.3mn by the end of June, up 10%, likely helped by €1.91bn of investments made in the six month period, which were mainly related to network rollout and the deployment of pay TV services.

Overall group revenue for the first half of this year reached €30.98bn, up 0.3%, thanks to higher sales (+7%) in Latin America, while net profits fell 25% by the same comparison to €2.075bn, including €743mn of exceptional items.

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