Cogeco is working towards entering the mobile wireless market in Canada.
Philippe Jetté, the CEO of Cogeco, told analysts in a conference call discussing the company’s third-quarter results for the year that the company has started negations to access an MVNO network.
“Securing satisfactory wholesale rates for access to incumbent wireless networks will be critical to the viability and long-term success of our mobile entry,” Jetté said.
The company secured spectrum licenses in the 2500 MHz and 3500 MHz bands in Québec earlier this year. This covers 95 percent of its operating footprint in Canada and will help it evolve to a wireless operation.
The company’s revenue grew 1.9 percent (nearly $742 million) compared to last year. The company, which operates in both Canada and the U.S., saw better results north of the border.
Revenue on the Canadian telecom side increased by 3.2 percent due to high-speed internet service additions, increased customer revenue, and the March 2023 acquisition of Oxio.
As of May 31st, Cogeco had nearly 1.9 million customers in Canada, between internet, video, and phone services, which includes the 6,000 units it added in the third quarter of this year. The figures also include the addition of 11,000 internet customers in the last quarter.
The addition was offset by a decrease in video and phone service customers. The decline in video customers came from a change in how people consume video and the onset of customers only subscribing to internet services. The decline in phone services came from people turning to mobile phones over landlines.
These figures don’t include the customers Cogeco acquired from Oxio. This includes 52,577 service units, made up of 46,656 internet customers, 3,716 video customers, and 2,205 phone customers.
Image credit: Shutterstock
Source: Cogeco
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