Telefónica’s pay-TV service, Movistar Plus, has consolidated its recovery in the Spanish television market, extending its growth streak for another quarter. The company’s latest figures confirm that the rebound, which began after the 2023 downturn, represents a lasting shift rather than a temporary uptick.

By the end of the third quarter of 2025, Movistar Plus+ had reached 3.74 million subscribers, up from 3.67 million in the previous quarter — a net gain of 73,000 customers in just three months. Since the start of the year, the platform has added 227,000 subscribers, achieving its best performance since the third quarter of 2021, when it stood at around 3.76 million users.

The data marks a sharp turnaround from recent years. After surpassing four million subscribers in 2020, Movistar Plus+ experienced a steady decline, bottoming out at 3.42 million in mid-2023. Since then, it has recovered more than 330,000 customers, posting nine consecutive quarters of growth and putting an end to speculation over the sustainability of its model.

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Tags: Movistar, telefonica