Ultra High-Speed Internet Service Propels Customer Success and Month-Over-Month Growth
Vancouver, BC – Urban Communications Inc. (TSX-V:UBN), one of the country’s first telecommunications companies to deliver Gigabit Internet service to the home, today announced record Urbanfibre subscriber and commercial customer growth in April and May, leading to month over month record recurring revenues.
With the rapid adoption of Urban’s commercial offering, the company saw a 39% increase in commercial customers and 25% growth in commercial revenue in May. The company has achieved an overall average monthly growth rate in commercial revenue of 21% since January, 2016.
Residential subscriber acquisition remains strong with the company reaching almost 20% acquisition rate in buildings that have been connected to the network for more than 12 months.
Urban’s focus on providing high value, ultra high speed, Gigabit Internet service that business and residential users depend upon has sustained these record results, fuelled by intense focus on measurable customer success.
“So far, 2016 has been a record-breaking year for us and April and May have accelerated our progress,” said Urban VP, Product, Jon Paul Janze. “Our Gigabit, ultra high speed Internet offering and knowledgeable, responsive service team has put us at the forefront of the commercial Internet services industry in BC. We are very excited to continue to push boundaries and challenge the Internet service industry to provide better value to customers and a higher level of customer service.”
Urbanfibre is currently connected in over 78 residential and commercial buildings in Metro Vancouver, giving access to over 6,000 residential subscribers and businesses seeking ultra high -speed connectivity. The large footprint is an immediate roadmap for rapid subscriber growth and continued recurring revenue.
ABOUT URBAN COMMUNICATIONS INC.
Urban Communications Inc. (TSX-V: UBN) is a telecommunications company providing a full suite of Internet, voice, video and broadband application products over its 300 km. state-of-the-art carrier grade fibre optic network in Metro Vancouver and Victoria to commercial, residential and public sector customers. Urban has recently launched high-speed Internet service to residential and commercial subscribers on its network at 1,000 Mbps (1 Gbps).
Chief Executive Officer
Phone: (604) 763-7565
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.