Tuesday, November 5, 2019
New Services Boost Telefónica
The group said that "video revenues" rose 6.9% to 757 million euros in the quarter, supported by an increase in subscriptions to its pay TV service and its OTT “Movistar Play” service in Latin America (the latter grew 86% in terms of subs). Telefónica also reported a 24% rise in cloud revenues to 176 million euros, and a 33% increase in IoT revenues to 130 million euros. It now serves 22.4 million IoT connections (up 1.1 million in the quarter). Security revenues rose almost 42% to 128 million euros.
The group’s own fibre/cable network now passes 54.5 million homes, up 11% year-on-year, with 22.7 million of those in Spain. Actual retail fibre/cable connections total 14.2 million (a rise of 11% year-on-year).
The group said: "Investment in fibre is key for Telefónica and will allow the generation of revenues and efficiencies with the capture of savings due to the dismantling of copper networks. The technological evolution of the fibre throughout its useful life of more than 30 years, will allow offering up to 10 Gbps symmetrical and optimise the deployment of 5G. In parallel, the new access network “Open Access” will support increasingly flexible and virtually controlled services." source: Telefónica statement.
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