Vibrant Virgin buoys Liberty as video business lags in Q2 | Cable | News | Rapid TV News
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Record financial period rebased revenue growth may have been recorded at its Virgin Media subsidiary in addition to healthy business elsewhere but between healthy overall numbers and subscriber adds, video is falling behind at cable giant Liberty Global.

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For the second quarter of the year ended 30 June 2018, Liberty posted continuing operations revenues of $3.045 billion, a rise of 2.7% compared with the figure reported at the end of Q2 2017, and half-yearly continuing operations revenues of $6.14 billion, up by the same amount as for the quarter year-on-year. Q2 operating income soared 31% annually to $263.9 million, but for the half year this sank 6.7% compared with the first half of 2017 to $384.3 million.

During the quarter, Liberty added 42,900 revenue generating units but markedly not in video which shed 11,500 customers in the three-month period. On a bright note, this was 4,700 fewer than in Q2 2017. For the half year, Liberty showed a net loss of 72,600 video customers, more than 50,000 more than for the same period a year earlier.

Despite the carnage of all video customers, the company actually had growing next-generation video line in Q2. The company 158,000 subscribers to its advanced platforms — Horizon TV, Horizon-Lite, TiVo, Virgin TV V6 and Yelo TV — in the quarter reached 6.7 million or 77% of the firm’s total cable video base.

Star subsidiary for Liberty in the Q2 results was Virgin Media in the UK which generated record Q2 rebased revenue and subscriber growth, delivering a 4.1% top-line increase while adding 112,000 net RGU additions. Liberty says the increase was driven by core offers in the UK. focused on triple-play bundles, which included a doubling of broadband speeds combined with the VIrgin TV V6 set-top box .