NBN Revenue Soars, Rollout On Target For 2020

NBN Co. have released their latest half-yearly report, revealing the next-generation broadband service has now rolled out to 3.8 million premises.

This marks a 129% increase on the previous year and growth that indicates the rollout is on-track to meet its target coverage by 2020.

Likewise, there’s been a 125% increase (on 2015) in the number of homes with an active NBN service to 1.6 million.

As a result of these gains, the internet service provider brought in $403 million in revenue for the half-year period.

NBN CEO Bill Morrow claims “It has been another impressive result for the NBN team and our partners as we step closer to completing the build and connecting eight million homes by 2020.”

Morrow says “Growing penetration is driving encouraging revenue growth. In the past six months, NBN recorded revenue close to the total achieved in the entire fiscal 2016 year. This strong growth is demonstrating the long term sustainability of the company.”

“Now, 80 per cent of the country is either in design, in construction or already able to order a service. This shows the vast reach of NBN  network into a majority of communities across the country,” he says.

As with previous reports, 25Mbps remains the most popular tier and average revenue continues to hover around $43.

Bill Morrow attributes that stagnant demand to “limited current need for higher products and lower awareness of their availability.”

He says the company will look to encourage higher take up of higher speed plans.