News
Charity-focused MVNO now has more than 100,000 customers.
The People’s Operator (TPO) on Monday reported a surge in full-year revenue and customer numbers, but its loss widened on higher expenses.
The U.K.-based MVNO, which directs 10% of subscription fees to charity, ended December 2015 with more than 100,000 customers: 80,000 in the U.K., and 21,000 in the U.S. At the end of 2014, TPO was only operating in the U.K. and had just 14,000 customers.
"This was a solid year of growth for The People’s Operator," said executive chairman and Wikipedia founder Jimmy Wales, in a statement. "Our subscriber numbers continue to rise and we are seeing excellent traction following our launch in the U.S."
Full-year revenue surged to £2.1 million (€2.63 million) from £432,391 in 2014. Monthly ARPU in the U.K. stood at £14 for postpaid customers and £12 for prepaid customers. Figures for the U.S. were not disclosed.
On the downside, selling costs jumped substantially to £3.94 million from £772,506, while administrative expenses increased to £7.18 million from £1.45 million.
The result was a net loss of £10.45 million in 2015, wider than 2014’s net loss of £2.33 million.
"I remain very optimistic for our future in both the U.K. and the U.S.," Wales said.
