Revenue of Virgin Media O2 in the UK 2008-2023

Virgin Media O2 UK Holdings Ltd. (VMED O2) reported global revenue of around 10.9 billion British pounds in 2023, showing an increase on the previous year. Figures prior to 2020 represent revenues for Virgin Media only, while those from 2020 onward reflecting the joint venture entered into by Liberty Global and Telefonica in June 2021 which merged the subsidiaries Virgin Media Ltd. and O2 Holdings Ltd. The revenue for 2020 was adjusted to reflect this merger. 

Mobile services lead VMED O2's gains

Mobile services are the largest contributor to the VMED O2 revenue mix, with 5.95 billion British pounds flowing in to the company from this source. Fixed services revenue followed with around 3.9 billion British pounds in revenues that year, with fixed B2B services accounting for just over 14 percent of fixed revenue. Several key figures covering VMED O2 have experienced fluctuations in recent years. In 2023, the company reported a 2.46 billion British pounds operating loss due to large goodwill impairment, rising debt costs, and tighter cash flows. This represented a significant change from the 197 million British pounds in operating income reported in the previous year.

VMED O2's revenues

Virgin Media's UK based revenues from access and calls of residential networks, business networks, and overall fixed line network and call revenues have all experienced decreases in recent years. However, both residential network revenues as well as fixed line network and call revenues have seen a slight increase since 2019.