TV subscribers at Vodafone down 162,000 in 2Q 2023

Vodafone Group Plc ⫶ Q1 FY24 trading update

Vodafone Group Plc has released a trading update for its Q1 FY24 period.

In Europe as a whole, Vodafone finished with 16.89 million TV customers, down 162,000 in the quarter, and down 1.247 million YoY.

In Germany, the company’s TV customer base declined by 120,000, and its consumer converged customer base remained broadly stable at 2.3 million. Preparations for the change to German TV laws in July 2024 continue to progress.

TV customers

TV customers (‘000s)

                  Q1 21/22  Q2 21/22  Q3 21/22  Q4 21/22  Q1 22/23  Q2 22/23  Q3 22/23  Q4 22/23  Q1 23/24
                  --------  --------  --------  --------  --------  --------  --------  --------  --------
Germany(1)          13,406    13,380    13,305    13,172    13,093    13,007    12,895    12,760    12,640
Italy                  306       299       287       291       290       280       263       248       235
Spain(1)             1,599     1,565     1,521     1,515     1,515     1,505     1,496     1,459     1,426
Portugal               764       780       796       808       819       833       846       852       861
Other                2,425     2,425     2,424     2,419     2,420     2,433     2,418     1,733     1,728
                  --------  --------  --------  --------  --------  --------  --------  --------  --------
Europe              18,500    18,449    18,333    18,205    18,137    18,058    17,918    17,052    16,890

VodafoneZiggo(2)     3,788     3,755     3,730     3,705     3,691     3,670     3,665     3,645

Net additions (‘000s)

                  Q1 21/22  Q2 21/22  Q3 21/22  Q4 21/22  Q1 22/23  Q2 22/23  Q3 22/23  Q4 22/23  Q1 23/24
                  --------  --------  --------  --------  --------  --------  --------  --------  --------
Germany(1)             -75       -26       -75      -133       -79      -86       -112      -135      -120
Italy                    4        -7       -12         4        -1      -10        -17       -15       -13
Spain(1)                -4       -34       -44        -6         0      -10         -9       -37       -33
Portugal                15        16        16        12        11       14         13         6         9
Other                   27         0        -1        -5         1       13        -15        -5        -5
                  --------  --------  --------  --------  --------  --------  --------  --------  --------
Europe                 -33       -51      -116      -128       -68       -79      -140      -186      -162

VodafoneZiggo(2)       -23       -23       -25       -25       -14       -21        -5       -20

1. Net additions for Q1 21/22 for Germany and Spain reflect the first time inclusion of OTT and boxless TV customers.
2. Net additions for Q2 21/22 exclude a base clean up of 10k customers.