China Cablecom (CABL) Announces 21% Increase in Digital Subscribers Q/Q
China Cablecom Holdings, Ltd. (Nasdaq: CABL) today announced that its Hubei assets added over 40,000 television subscribers in the period ending March 31, 2010.
Overall digital subscribers were recorded at 499,292, a 21% growth from year-end 2009. The reported organic growth was attributed to the continued government mandate to digitalize cable television nationwide in China.
The Company's goal is to continue adding new users, endorse the accelerated pace of digitalization and generate higher revenues through increases in ARPU. For the full year 2010, China Cablecom expects its Hubei assets to reach a total subscriber count of approximately 1,280,000. Hubei Province is regarded as a coastal city and is predicted to reach a digital cable penetration rate of 70% by 2012.
"This quarter's organic and digital subscriber growth affirms the strength of our cable assets," says Clive Ng, Founder and Executive Chairman of China Cablecom. "This significant increase reflects the broad appeal of the overall industry as digitalization continues to pick up. We anticipate a more aggressive approach as we expect our Hubei assets to reach a 50% penetration rate by year-end. The increases in ARPU and organic growth are compelling to both top and bottom line numbers serving to generate long-term value for our shareholders."
Overall digital subscribers were recorded at 499,292, a 21% growth from year-end 2009. The reported organic growth was attributed to the continued government mandate to digitalize cable television nationwide in China.
The Company's goal is to continue adding new users, endorse the accelerated pace of digitalization and generate higher revenues through increases in ARPU. For the full year 2010, China Cablecom expects its Hubei assets to reach a total subscriber count of approximately 1,280,000. Hubei Province is regarded as a coastal city and is predicted to reach a digital cable penetration rate of 70% by 2012.
"This quarter's organic and digital subscriber growth affirms the strength of our cable assets," says Clive Ng, Founder and Executive Chairman of China Cablecom. "This significant increase reflects the broad appeal of the overall industry as digitalization continues to pick up. We anticipate a more aggressive approach as we expect our Hubei assets to reach a 50% penetration rate by year-end. The increases in ARPU and organic growth are compelling to both top and bottom line numbers serving to generate long-term value for our shareholders."
You May Also Be Interested In
- Dow Chemical (DOW) Wins $2.16B in K-Dow Arbitration
- Hill International (HIL) Receives $16.1 Million Contract From LA County Metro Transportation Authority
- InterDigital (IDCC) Says It Hasn't Seen Huawei Complaint, Can't Offer Response Yet
Create E-mail Alert Related Categories
Corporate NewsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
