Vodafone TV customers down 69,000 in 4Q 2024
Tuesday, February 4th, 2025
Vodafone Group has today announced its trading update for the quarter ended 31 December 2024.
“Group service revenue growth accelerated to 5.2% in the third quarter. This was driven by a step-up in the UK and strong performance in Türkiye and Africa, whilst Germany is impacted by the TV law change.” – Margherita Della Valle, Group Chief Executive.
Germany
Total revenue decreased by 7.6% to €3.1 billion as a result of lower service and equipment revenue. As anticipated, the service revenue reduction in Q3 remained broadly consistent with Q2, declining by 6.4% (Q2: -6.2%). The decline was primarily due to a -3.8 percentage point impact (Q2: -3.8 percentage points) from the end to bulk TV contracting in Multi Dwelling Units (‘MDU’), which came into full effect from July 2024, as well as a lower broadband customer base and lower mobile ARPU.
Fixed service revenue decreased by 10.7% in Q3 (Q2: -9.7%) due to the cumulative impact of TV and broadband customer losses. The MDU transition had a -6.8 percentage point impact (Q2: -6.9 percentage points) on fixed service revenue growth in Q3.
We have now largely completed the migration of our MDU TV customer base following the change in TV law that came into force in July 2024. By the end of December 2024, we had retained 4.1 million households (49% of affected customers), which is in line with our 50% expectation. We will continue to engage with the remaining households affected by the law change. Our total TV customer base declined by 66,000 during the quarter, primarily due to the MDU transition.
Europe
TV Customers (thousands):
Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- Germany 13,007 12,895 12,760 12,640 12,547 12,411 11,758 11,103 8,900 8,834 Portugal 833 846 852 861 871 881 886 890 895 901 Other 1,747 1,737 1,733 1,728 1,720 1,714 1,706 1,688 1,672 1,663 ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- Europe* 15,587 15,478 15,345 15,229 15,138 15,006 14,350 13,681 11,467 11,398
Net additions (thousands):
Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- Germany (86) (112) (135) (120) (93) (136) (653) (655) (2,203) (66) Portugal 14 13 6 9 10 10 5 4 5 6 Other 14 (10) (4) (5) (8) (6) (8) (18) (16) (9) ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- Europe* (58) (109) (133) (116) (91) (132) (656) (669) (2,214) (69)
* Europe totals exclude TV customers from Italy, Spain, and Hungary.
Links: Vodafone