Private targets 12mn IPTV subscribers by end-2009
May 14, 2008 - Private Media Group has announced in its first-quarter results that its combined new media sales increased 12% year-on-year to reach €3mn for the three-month period, and the company now aims to make its content available to 7.9mn IPTV subscribers in Europe by the end of this year and 12mn by the end of 2009.
Johan Gillborg, CFO for Private, commented: "In Q1 2008, the combined sales from broadcasting, wireless and Internet was 57% of total sales. This shows the continuing trend in shifting our business model towards new media. We expect aggressive expansion in this area and this will significantly affect the overall growth and operating profit of the company's business going forward. We are successfully implementing our new media strategy and to date we have contracted with 24 major platform operators in 11 countries in Europe. During 2007 the European IPTV market grew by 60% to 6.4 million IPTV subscribers (i) and by the end of the year we had gained 70% coverage with 4.5 million subscribers.”
The company posted a net loss of €0.8mn for the three months ended March 31, 2008 compared to a net loss of €0.6mn for same period of last year, with the increase in net loss attributed to decreased gross profits from DVD and magazine sales.
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