Rogers Reports Second Quarter 2008 Financial and Operating Results
Tuesday, July 29th, 2008TORONTO — Rogers Communications Inc. (Toronto: RCI.A; RCI.B) (NYSE:RCI) today announced its consolidated financial and operating results for the three and six months ended June 30, 2008.
Highlights of the second quarter of 2008 include the following:
- High-definition TV (“HD”) subscribers at Cable were up 59% from June 30, 2007 to June 30, 2008, from 287,000 to 455,000, while the number of quarterly purchases of Rogers on Demand product from the second quarter 2007 to the second quarter 2008 increased by approximately 20%.
- Cable announced that its agreement to acquire Aurora Cable TV Limited (“Aurora Cable”) had been approved by the CRTC and the transaction was completed on June 12, 2008. Aurora Cable passes approximately 26,000 homes and provides cable television, Internet and telephony services in the Town of Aurora and the community of Oak Ridges, in Richmond Hill, Ontario.
Cable Segment
Basic cable net losses for the three months ended June 30, 2008 reflect the normal seasonality, while the net losses for the six months ended June 30, 2008 were also negatively impacted by the conversion of a large municipal housing authority’s cable TV arrangement with Rogers from a bulk to an individual tenant pay basis, which had the impact of reducing basic cable subscribers by approximately 5,000.
The digital cable subscriber base grew by 16% from June 30, 2007 to June 30, 2008. Digital penetration now represents 62% of basic cable households. Strong demand for HD and personal video recorder (“PVR”) digital set-top box equipment and pay-per-use purchases, combined with the success of multi-product marketing campaigns, which package cable television, high-speed Internet and Rogers Home Phone services, contributed to the growth in the digital subscriber base of 23,000 and 72,000 households, respectively, in the three and six months ended June 30, 2008. HD subscribers at Cable were up 59% from June 30, 2007 to June 30, 2008, from 287,000 to 455,000.
Summarized Subscriber Results:
Three months ended Six months ended (Subscriber statistics June 30, June 30, in thousands, -------------------------------------------------- except ARPU) 2008 2007 Chg 2008 2007 Chg -------------------------------------------------------------------------- Cable homes passed 3,648 3,515 133 Basic Cable Net losses (13) (12) (1) (13) (11) (2) Total Basic Cable subscribers 2,298 2,266 32 Core Cable ARPU $ 60.73 $ 56.34 $ 4.39 $ 59.62 $ 55.45 $ 4.17 Digital Cable Terminals, net additions 54 61 (7) 157 181 (24) Total terminals in service 2,036 1,678 358 Households, net additions 23 34 (11) 72 103 (31) Total households 1,431 1,237 194
More: Earnings Release
Latest News
- 30% of EU SVOD viewing time goes to content from the EU plus UK
- Circle City renews with Nielsen for Local TV measurement
- Skyworth and China Mobile launch 8K set-top box
- Orange Spain, MASMOVIL joint venture begins operations
- Brightcove launches Cloud Playout 2.0
- MediaKind to unveil video, streaming and AI technologies at NAB