Canada's Rogers adds lower-than-expected subscriptions amid price war
April 23 (Reuters) - Rogers Communications (RCIb.TO), opens new tab posted lower-than-expected quarterly subscriber additions on Wednesday, as the Canadian wireless giant grapples with rising pricing war and strict immigration practices.
The company posted 11,000 monthly bill-paying wireless phone subscribers for the first quarter, whereas analysts at Visible Alpha had expected an addition of 17,390 subscribers.
The company continues to struggle amid a pricing war. Rivals Telus (T.TO), opens new tab and BCE (BCE.TO), opens new tab have made people opt for cheaper alternatives.
Canada's recent policy changes and crackdown on immigration have also had an impact on demand, as carriers have relied on newcomers to expand its customer base.
Earlier this month, the company signed a 12-year agreement worth C$11 billion ($7.68 billion) to secure media rights for the National Hockey League (NHL) games across all platforms in Canada.
Rogers has been aggressively investing into Canadian sports over the past few years to capitalize on its strong viewership and loyal fanbase amid a broader decline in traditional media.
The wireless segment, which accounts for half of Rogers' revenue, collected C$2.54 billion in the first quarter, compared with estimates of C$2.57 billion, according to data compiled by LSEG.
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