ISP TVnet Kft has started internet protocol television (IPTV) services in the capital with an investment of Ft 100 million, managing director Tibor Lengyel said on Wednesday.
TVnet started the services on November 6, the same day as T-Online Zrt, the internet unit of incumbent telco Magyar Telekom Nyrt, started offering its own IPTV services. TVnet will make the service available in 11 of Hungary's biggest cities in January and February with a further investment of Ft 400 million.
Lengyel said earlier that he expected the company to gain 4,000-10,000 subscribers in its first year of operation. TVnet had 15,000 subscribers at the end of 2005, three times the number a year earlier. The company had revenue of more than Ft 1 billion, double the 2004 figure.