According to the telco’s Q4 2017 financial report, total revenues for the quarter stood at €1.26 billion, nearly the same as in Q4 2016. Service revenues were €1.14 billion, meaning a 2% year-on-year increase.

Within such stable business, income sources seem to be changing for Vodafone, as the market continues to evolve in Spain. Revenues through convergent services grew by 13.1% year-on-year, and accounted for 59% of the whole residential income.

Such growth, the telco has claimed, is due to the rapid deployment of an aggressive convergent strategy, driven by fibre services delivered through a growing network (+20 million homes connected) and an evolving entertainment and pay-TV offering.

In terms of subscribers, Vodafone One, the telco’s line of convergent products, grew by 17.2% to reach 2.51 million homes, pay-TV subs increased by 7.2% to total 1.37 million (strengthening Vodafone’s position as second largest player in the market), and fibre clients grew by 21.6% to reach 2.68 million households.

For the telco, the recent partnership with the subscription and transactional video-on-demand (VOD) service Filmin illustrates Vodafone’s strategy in video and entertainment.

“Filmin is a perfect complement for Vodafone One TV’s content offering, which already includes its own VOD platform, linear channels and the integration of third-party platforms like Netflix and HBO. All in all, over 40,000 titles available in a single platform,” said the telco.