Q2 2008: Premiere increases revenues to EUR 272.4 millionThursday, August 7th, 2008
MUNICH — In Q2 2008 Premiere AG (PRE.XE)’s revenues increased 18.9 percent to EUR 272.4 million (Q2 2007: EUR 229.1 million).
As in the Christmas season 2007 and the first three months of 2008, piracy continued to affect performance in Q2. As of June 30, 2008, Premiere had a total of 4,157,810 customers: 3,554,696 direct subscribers (June 30, 2007: 3,473,174) and 603,114 indirect arena customers. Compared to Q2 of the previous year, the number of direct subscribers rose by 2.3 percent. Compared with Q1 2008, Premiere registered a decrease of 84,657 customers (Q1 2008: 4,242,467).
Subscribers Change Q2 2008 Q2 2007 (absolute) (in %) --------- --------- ---------- ------ Subscribers as of June 30 4,157,810 3,473,174 684,636 19.7 Churn rate (rolling) 18.3% 19.5% 1.2 -
Encryption system: Smartcard swap for satellite customers in progress
In the last few months Premiere has developed and successfully tested an extensive security package together with its encryption partners NDS (NASDAQ: NNDS) Videoguard and Nagravision (SWX:KUD.VX). The second phase of this project, during which the smartcards of satellite customers will be swapped, started a few days ago and will be completed by the end of the third quarter. All receivers that can be updated to NDS Videoguard® will now be configured with a new software. Börnicke: “The conversion is going according to schedule and the security gap will be closed soon. Anyone who has purchased a hacked receiver will soon realize that Premiere is only be available to Premiere subscribers.”
More: Earnings Release