Spanish telecommunications company Telefonica submitted its financial statement for the first quarter of 2016 in which it reported that it reached 4.7 million Pay-TV accesses in Latin America (under the Movistar brand in Latin America and Vivo in Brazil) with video revenues of USD 285 million.
Its Brazilian division, including the incorporation of GVT in March 2015, had Pay-TV revenues for USD 126 million, representing an annual organic growth of 21.1% and 1.8 million accesses, i.e., 5% more compared to the same quarter last year.
In Chile, video revenues were of USD 62 million (+6.3% in local currency), with a total of 646,000 accesses (+5%). In Peru, they obtained USD 78 million (+24.8%) and 1.2 million Pay-TV accesses (+21%). In Colombia, video revenues were of USD 19 million (+35.4%) and it had 497,000 accesses (+16%). In Venezuela, 478,000 accesses (+0.4%).
“The evolution of the main financial variables (revenues, OIBDA) in the quarter is strongly affected by the depreciation of exchange rates in 2015, although this impact is neutralized in terms of cash generation”, wrote the Executive President of Telefonica, Jose Maria Alvarez-Pallete, in the letter to investors.