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February 20, 2014
07:39 EDTDTVDirecTV reports Q4 Latin America net subscriber additions 231K
Excluding changes in foreign exchange rates, DTVLA fourth quarter revenues grew 24% driven by a 15% increase in the average number of subscribers and an 8% increase in local currency ARPU's. When factoring in unfavorable changes in foreign currency, most notably in Venezuela, Argentina and Brazil, DTVLA ARPU declined 7.8% to $51.47 and revenues increased 6% to $1.77B compared to the fourth quarter of 2012. Net subscriber additions of 231,000 in the quarter decreased from 658,000 in the prior year period due to a decline in gross subscriber additions, along with a higher average monthly churn rate. Fourth quarter gross subscriber additions declined to 989,000 principally due to lower imports of set-top boxes for new customers in Venezuela, as well as lower subscriber additions in Argentina, Colombia and Chile associated with more challenging economic and competitive conditions. Average monthly post-paid churn increased to 1.85% and total average monthly churn increased to 2.21% mostly due to higher churn in Brazil related to the effect of a higher mix of mass market subscribers along with more challenging economic and competitive conditions. DTVLA ended the year with 11.57M subscribers, an increase of 12% compared with the year ended December 31, 2012.
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