- August 4, 2020
- Posted by: Stratford Team
- Category: Markets
Liberty Global plc (NASDAQ: LBTYA, LBTYB and LBTYK), one of the world’s leading converged video, broadband and communications companies, today announces the launch of gigabit broadband services from Virgin Media to almost 1 million homes in Glasgow, Leeds and Bradford.
Following the addition of the cities and their surrounding areas to Liberty Global’s gigabit capable footprint, a total of more than 12 million homes across Europe are now gigabit ready. This rises to 13.2 million homes with the inclusion of the gigabit footprint of VodafoneZiggo, its Joint Venture in the Netherlands. With a gigabit connection, ultra-high definition 4K films and TV programmes, very large files and videos can be downloaded almost instantaneously, even with multiple devices using a connection at the same time.
Virgin Media’s gigabit network now covers one in four Virgin Media premises. Thanks to continued investment, Virgin Media now boasts the largest gigabit network in the UK, surpassing all other networks. The speed increases in Glasgow, Leeds and Bradford are part of Virgin Media’s plan to bring gigabit speeds to more than 15 million homes across its entire network by the end of 2021, significantly ahead of the UK government’s target of delivering gigabit-capable broadband nationwide by 2025.
The cities are the latest in a growing list of that can now experience speeds 17 times faster than the UK average. Virgin Media has already connected cities including Southampton, Manchester, Birmingham, Coventry, Reading Liverpool and Edinburgh to its gigabit network, all delivered through Virgin Media’s newest and most powerful router, the Hub 4.
Liberty Global is set to launch gigabit speed services in even more cities in the coming months as it continues to boost superfast internet access across Europe. Elsewhere amongst Liberty Global’s operating companies, Telenet and UPC Switzerland connected customers throughout their entire networks last year, while UPC Poland has so far connected more than 60 cities to its gigabit service.
Mike Fries, CEO, Liberty Global, comments: “Within the past 10 years we have gone from offering speeds of 100Mbps to making gigabit ready connections available to more than 12 million homes across our European footprint. We’re continuing to invest in the fastest broadband network in the UK and our recently announced merger with O2 creates an even more exciting opportunity to accelerate growth in the future.”
Gigabit speeds revolutionise the digital experience by making the next generation of home entertainment technology a reality. Applications of gigabit speeds include cloud-based gaming, 8K streaming, remote health telemonitoring and advanced telepresence, which could enable consumers to go ‘virtual reality shopping’ or watch live broadcasts of holographic sports events.
By providing ultra-high capacity, reliable, secure, resilient and low latency networks, gigabit speed broadband services will unlock significant economic growth. According to research from international management consulting firm, Arthur D. Little, the innovation spurred by the widespread availability of Gigabit speeds are estimated to deliver between €250-660 billion of economic value per year in Europe by 2025.
ABOUT LIBERTY GLOBAL
Liberty Global (NASDAQ: LBTYA, LBTYB and LBTYK) is one of the world’s leading converged video, broadband and communications companies, with operations in six European countries under the consumer brands Virgin Media, Telenet and UPC. We invest in the infrastructure and digital platforms that empower our customers to make the most of the digital revolution. Our substantial scale and commitment to innovation enable us to develop market-leading products delivered through next-generation networks that connect 11 million customers subscribing to 25 million TV, broadband internet and telephony services. We also serve 6 million mobile subscribers and offer WiFi service through millions of access points across our footprint.
In addition, Liberty Global owns 50% of VodafoneZiggo, a joint venture in the Netherlands with 4 million customers subscribing to 10 million fixed-line and 5 million mobile services, as well as significant investments in ITV, All3Media, ITI Neovision, LionsGate, the Formula E racing series and several regional sports networks.
For more information, please visit www.libertyglobal.com.
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