Telecommunications company Megacable Holdings from Mexico published its financial results for the first quarter of 2016 in which it reported a record growth of 19% in its Pay-TV subscribers by gaining 477,000 new ones and reaching a total of 2,967,443.
The increase of net video additions was of 57% compared to the same period of 2015 due to the demand that was created during the first months of 2016 due to the analogue switch-off completed in Mexico in December last year.
Total company revenues were of USD 233,415, which means an increase of 22% compared to 1Q 2015, while those concerning its Pay-TV operations were of USD 111,134 or 16% more annually. Video sales accounted for 48% of total revenue.
Financial website Bloomberg.com informed that, according to reports from Itau and Credit Suisse banks, telecommunications company Televisa, which owns 60.6% of the market share, could bid in the short term to buy Megacable, which has 15.1% of the local participation.