Today NBN released an update to their project progress and the project is get built, improving Australia’s connectivity and speeds.
NBN Co made an impressive $620 million in revenue (not profit) in the first 3 months of this year. This represents a 53% increase compared to September 30th last year. As an average, the average NBN customer is returning $44.
While the project will take many years to return outright profit to its investors, its crazy the Government plans to sell this amazing, money making asset, one of a very select few the Government now own. Unlike almost every other budget area, the internet and therefore NBN, is something customers will always want and are paying every month for it.
Overall there are now almost 4.4 million activations (different than customers), which has grown by almost 340,000 in the past 3 months, demonstrating the rollout ramp.
What is interesting to note is the number of premesis that could connect is 7.3 million, yet just 4.4 have, which means 2.9 million homes and businesses have the opportunity to connect to faster and often cheaper internet, but haven’t. This needs to be improved upon.
“We are entering the biggest deployment and activation years of the nbn build and these results demonstrate our ability to scale anddeliver.
Central to our continued progress and performance are our strong relationships with delivery partners and retail service providers. Industry collaboration has helped us scale network deployment quickly and make substantial improvements to end-user experience.
53 per cent of all homes and businesses are now on a 50 Mbps wholesale download speed or higher, with 70% of new customers opting for these higher speed plans each month. We know our pricing decisions last year are having the impact we intended, that is, to help provide a good experience for homes and businesses using the network.
We are confident we’ll continue to deliver in partnership with the industry, meeting our Corporate Plan targets for the 2019 financial year and driving towards network completion by 2020.”NBN Co CEO Stephen Rue said