Bundled services grow in Portugal
The number of service package subscribers in Portugal at the end of Q1 stood at 4.6 million.
This, according to the regulator ANACOM, was 150,000, or 3.4%, more than in the same period last year.
The growth is exclusively down to 4/5P offers (+177, 000, or +7.7%). The 4/5P offers were also the most used, with 2.5 million subscribers (54.2% of the total number for bundled offers), followed by the 3P offers, with 1.7 million subscribers (36.8%). 3P offers registered the biggest decrease since they started the downward trajectory in 2022 (-1.2%). Meanwhile, isolated offers, single play or 1P, which are characterised by not being sold in bundles, accounted for 69.7% of mobile accesses and 15.2% of fixed accesses.
It is estimated that, in July 2022, isolated residential offers would amount to just 1% of total fixed broadband residential subscribers, 3% of total pay-TV residential subscribers and 5% of total residential fixed line telephony subscribers.
In Q1, revenues from bundled services amounted to €494 million (51.9% of total retail revenues), up 7.9% on the previous year and the highest growth annual recorded since 2016. Revenues from 4/5P offers represented 66.7% of total bundled revenues or 34.6% of total retail revenues.
ARPU (€36.13 excluding VAT) also recorded the highest annual growth since 2016 (+4.3%).
ARPU was €44.69 in the case of 4/5P offers (+3.7%) and €28.19 euros in the case of 3P offers (+2.4%).
At the end of Q1, Meo was the provider with the highest share of subscribers to bundled services (41.3%), followed by Grupo Nos (35.4%), Vodafone (20.4 %) and Nowo (2.8%). Compared to the same quarter of the previous year, Meo and Vodafone increased their share of subscribers (+0.4 p.p. and +0.2 p.p., respectively), while the shares of Grupo Nos (-0.4 p.p.) and Nowo (- 0.3 p.p.) decreased.
In net terms, Nowo was the only one of the referred providers to decrease the number of package subscribers. By type of offer, Meo had the highest share of subscribers in all types of offer: 2P (45.4%), 3P (39.3%) and 4/5P (41.9%).
On the other hand, Meo also had the highest share of revenue from bundled services (41.4%), followed by Grupo Nos (40.4%), Vodafone (16.6%) and Nowo (1.7%).
Compared to the same quarter last year, Grupo Nos and Meo increased their revenue shares (+0.3 p.p. and +0.1 p.p., respectively), while Nowo and Vodafone decreased their shares (both -0.2 p.p.).
