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Telefónica Chile has reported a significant revenue drop, which would be larger if it wasn’t for the IPTV and direct-to-home (DTH) operations.

Analysing the financial results from the January-September 2017 period, Telefónica’s Chilean subsidiary has reported a 0.2% drop in revenues during the nine-month period and a 0.7% drop during Q3 2017.

Looking to the fixed business, revenue reached €222 million during the quarter (0.7% less than a year ago). Drops were contained by pay-TV operations, whose revenues increased by 2.1%. Driven by IPTV and DTH, pay-TV accesses were also on the up, growing by 3.3% to reach 683,000 subscribers.

The figures keep Telefónica Movistar as the second largest pay-TV operator in Chile, only beaten by Liberty Global’s VTR and its 1.07 million subs.

“The income drop in the fixed business is explained by the decrease of revenue through voice, which has been compensated by growth in pay-TV and telecom services for companies, especially cloud and security,” pointed out the telco’s Chilean subsidiary.