The Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

The Bahamas Telecommunications Company (BTC) was yesterday revealed to have suffered modest year-over-year declines in both revenues and subscribers, with both largely flat for the 2023 first quarter.

The Bahamian carrier's ultimate parent, Liberty Latin America, unveiling its results for the three months to end-March 2023 disclosed that BTC's revenues fell by $600,000 or just 1.3 percent year-over-year, declining from $47.7m in 2022 to $47.1m this time around.

It was a similar outcome for subscriber numbers. BTC saw mobile subscribers drop by a total 2,100 during the 2023 first quarter, losing 2,000 pre-paid customers but only 100 of the more lucrative postpaid number, to finish at 168,300 at end-March 2023. That represented a 1.2 percent drop compared to the year-end 2022 figures, with BTC closing the first quarter with 144,400 pre-paid subscribers and 23,900 post-paid.

Elsewhere, BTC saw fixed-line customer numbers fall by 1,100 during the 2023 first quarter, but this was offset by gains elsewhere. Broadband Internet subscribers rose by 1,600, while TV and phone customers rose by 700 and 200, respectively. The carrier closed the period with 6,300 TV subscribers, 24,700 on the Internet and 33,7800 for fixed-line phone.

BTC's 2023 first quarter performance was similar to that posted during the latter part of 2022. Its year-over-year revenue growth slowed to just 1.3 percent year-over-year for the 2022 third quarter even though it remained ahead of prior year comparatives for the first nine months. BTC’s top-line income grew by less than $1m for the third quarter when measured against 2021 figures.

Revenues for the three months to end-September were just 1.3 percent higher year-over-year at $48.4m, as opposed to $47.8m in the prior year’s third quarter. For the first nine months, BTC’s revenues were 2.8 percent ahead of 2021 at $144.5m compared to $140.5m in 2021. The year-over-year top line rise was some $4m.

BTC’s subscriber numbers remained flat yet again during the 2022 third quarter, with an increase of 200 mobile pre-paid customers more than offset by a 400 fall in the more lucrative post-paid segment. This made for a total mobile subscriber decline of 200 as BTC remains locked in fierce competitive battle for market share with its rival, Aliv.

On the fixed-line side, a 100 subscriber increase in Internet customers was outweighed by an 800-strong decrease on fixed-line voice, resulting in a net decrease of 700 fixed-line customers. Total fixed-line customer numbers for BTC was pegged at 5,200.

As a result of this slow, continued attrition and whittling away, BTC’s mobile subscriber base remained flat at 173,000 at end-September 2022. This consists of 141,900 pre-paid and 31,100 post-paid subscribers. On the TV, Internet and fixed-line voice side, it presently has some 72,300 total revenue generating units (RGUs).

These are split into 9,600 TV/video subscribers, 31,600 Internet clients and 31,100 fixed-line voice customers. This compares to 73,00 fixed-line revenue generating units at end-June 2022, split between 31,500 broadband Internet customers and 31,900 fixed-line voice subscribers, with 9,600 video/TV clients making up the balance then.