Partner announced today (Monday, November 29) its financial results for the third quarter of 2021 and revealed a continuation of the trend we anticipated in the early quarter, with 5% revenue growth and a jump from a loss of $ 5 million in the same quarter in 2020 to a profit of 24 million in the last quarter. At the same time, the company reports the continued deployment of its fiber network to the Internet, which comes as of the end of the quarter ended September 30 to 660,000 households, with more than 200,000 subscribers already connected to the fiber Internet compared to about 180,000 in the second quarter of This year.
It concluded the third quarter with revenues of NIS 837 million, an increase of nearly 5% year-on-year, while continuing the momentum we saw in the second quarter, when with the publication of the reports he noted Partner CEO, Avi Zvi, Because “Partner crossed the 3 million cellular threshold, for the first time in about a decade, and continued to reduce the abandonment rate to the lowest level since 2211“.
As of the date of publication of the report (29.11.2021), the number of the company’s optical fiber subscribers was over 200,000, with the company continuing to deploy the fiber in Israel in the background and intends to reach 660,000 households currently connected to the network to about one million households by the end of 2022.
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Partner’s total cellular subscribers at the end of the third quarter were about 3.2 million, an increase of 9% year-on-year. The average income from a cellular subscription (ARPU) was NIS 48, an annual decrease of about 6%, with the third quarter in a row in which the company maintains a threshold similar to its average income from each paying subscriber.
Is there room for additional streaming services in Israel?
Partner and Cellcom have managed to show impressive growth in the number of subscribers to their TV services in previous years, but this year the growth seems to have moderated significantly. Partner now reports 226,000 subscribers at the end of the third quarter, an increase of about 2,000 subscribers compared to the third quarter data of 2020, when it comes to an increase of about 3,000 subscribers compared to the data of the second quarter of 2021.
With Partner TV, the company has significantly reduced the gap in the number of subscribers compared to the competing Cellcom TV service, but the moderate growth figures presented by the two companies in the past year raise the question of whether there is really room in the Israeli market for additional streaming services. With the planned launch of Disney Plus in Israel in 2022, there will be a competitive competition for our small market, but without providing added value in the form of Israeli broadcast channels and in light of Netflix’s strong presence in Israel, Disney may choose to allow bundles with existing services. In the past.
Meanwhile, most TV subscribers are still in the hands of HOT and yes, having as many as 2 of the number of subscribers that Partner and Cellcom present with their streaming services.
Here is our quarterly comparison table for the number of TV subscribers of Partner and Cellcom:
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