Canadian cableco Cogeco Connexion reported that its revenues in the three months to end-November 2020 – its first fiscal quarter – climbed 2.2% year-on-year to CAD328.0 million (USD258.9 million), citing sustained demand for residential high speed internet since the beginning of the pandemic due to customers spending more time at home for work, education and entertainment, alongside prices increases for certain services, partly offset by a decline in pay-TV customers. Adjusted quarterly EBITDA jumped 8.9% y-o-y to CAD186.1 million due to rising turnover alongside reduced operating expenses.
Internet customers increased by 3,232 in three months to 815,248, while fixed telephony customers fell by 5,203 to 363,238 under the ongoing trend seeing users cancelling landline services in favour of mobile telephony. Pay-TV customers dropped by 6,952 to 612,297, attributed to highly competitive offers from market rivals and ongoing changes in the video consumption environment, partly offset by take-up of advanced digital video services. At 30 November 2020, 68% of Cogeco Connexion's customers subscribed to double or triple-play bundles (compared to 69% reported in the corresponding period of 2019).
Thanks to TeleGeography for this industry update.