Kerching!
Virgin Media has boosted its revenues in 2010 by 5.8 percent to a whopping £3.8bn, £1bn of which was pulled in throughout Q4.
The revenue of the fourth quarter is up 6.6 percent year-on-year and Virgin has said that revenue growth combined with cost control has contributed to its record year.
Virgin Media added 76,000 new customers in 2010, a rapid rise from 2009's figures, where 17,600 people bought its products or services and the firm's total customer base has now topped 4.8 million.
So-called ‘triple play' customers (those buying 3 services from Virgin) increased a little to make up 63 percent of its subscriber base, while ‘quad-play' customers made up 11.8 percent.
Perhaps unsurprisingly given its new products and announcements, Virgin Media signed up 44,100 new customers to its broadband service in Q4 and it now provides 4.39m subscribers with broadband. Virgin said over 780,000 of its subscribers have signed up to its 20Mb or 50Mb services, 40 percent more than in 2009.
Given consumers' desire for speedy internet access, Virgin said around 1 in 3 of its new customers picked a higher speed option and 118,000 have opted for its 50Mb service.
Meanwhile, in the TV part of its business, the company's TV base added 12,100 subscribers in Q4 bringing the total number to 3.78m, but an impressive 64 percent of customers now use its on-demand service and no doubt more people will be tempted with the launch of a TiVo- powered service coming this year.
Virgin now has around 1.5m subscribers to its HD package, adding 91,900 new customers in Q4 and its HD offering now makes up almost 40 percent of its total telly customer base. Furthermore around 780,000 subscribers have taken out its Sky premium channels.
Virgin's mobile contract customers increased by 27.5 percent in 2010 to reach 1.2m, while revenues for its mobile division reached £148.3m in Q4.
Virgin media's CEO, Neil Berkett, said: "A strong financial performance combined with the launch of a number of market leading product developments ensured 2010 was a year of great achievement for Virgin Media. We have driven our consumer division to its highest ever rate of revenue growth, maintained robust cost control and delivered our best ever financial year. The significant strides forward in our Mobile and Business operations contributed to this substantial result."
He reckons Virgin's TiVo TV service and rollout of its 100Mb broadband package will "further accelerate [its] lead in next generation services" and attract more new customers.
