NOW subscribers up, loss narrows
PCCW IPTV network still neck and neck with rival i-CableHONG KONG -- Now TV, the IPTV-based pay-TV platform operated by PCCW, saw subscriber numbers grow by 7% compared with a year ago, hitting 992,000 by June 30.
Revenues at the division were up by 5% and it reduced its losses (as measured by EBITDA) from HK$43 million (US$5.55 million) to HK$34 million. PCCW said it expects NOW to reach EBITDA break-even within months.
NOW's direct rival, i-Cable earlier this month reported subscriptions growth of 3%, taking its total to 947,000. But revenue dropped by 15% as the company took on "lower yield subscriptions."
Earlier in the week an appeals court in Hong Kong denied PCCW the right to go to the Court of Final Appeal over a failed bid to take the company private.