Menu
Finance

Sky Adds 1 Million European Customers, Shrugging Off Competitors Like BT, Netflix

Sky has "shrugged off fierce competition, including from BT and Netflix," to add nearly 1 million customers across Europe in the past year, according to Henry Mance of the FINANCIAL TIMES. The pay-TV broadcaster, which last November completed the £7B acquisitions of Sky Italia and Sky Deutschland, "has faced questions over whether it can sustain revenue growth in the face of rivals' cheaper sports and entertainment packages." Adjusted pre-tax profit after gains on disposals and restructuring costs rose 6% to £1.2B ($1.87B) in the year to June 30, "broadly in line with analysts' forecasts." Pre-tax profits were £1.52B ($2.37B). Sky's customer numbers increased 4% year-on-year in the U.K., 12% in Germany, "but remained flat in Italy, with a decline in the last three months." City analyst Thomas Singlehurst said that the results were "very strong," but there was likely to be "some moderation in the rate [of] improvement" in the coming months because of BT's Champions League launch and Sky's own price increases. BT, Sky's biggest rival in the U.K., is expected to "market its own TV packages heavily to coincide with the launch of its exclusive coverage of the Champions League this autumn." Sky CEO Jeremy Darroch said that Sky Sports remained "the first choice" for audiences. Darroch: "We'll get through the next three months" (FT, 7/29). BLOOMBERG's Kristen Schweizer reported Sky has "started to see some benefits from creating a pan-European broadcaster after consolidating its German and Italian assets under the U.K. company." It said that it is "on track" to hit its target of £200M ($312M) in synergies by the end of the fiscal year ending in June '17. Sky spends about £2.6B ($4B) a year on content for the U.K., including sports, its own entertainment products and rights to air Hollywood films. In February, the broadcaster agreed to pay more than £4B ($6.2B) for a three-year package of U.K. rights to broadcast the Premier League (BLOOMBERG, 7/29).

SBJ Morning Buzzcast: March 18, 2024

Sports Business Awards nominees unveiled; NWSL's historic opening weekend and takeaways from CFP deal

ESPN’s Jay Bilas, BTN’s Meghan McKeown, and a deep dive into AppleTV+’s The Dynasty

On this week’s Sports Media Podcast from the New York Post and Sports Business Journal, ESPN’s Jay Bilas talks all things NCAA. Big Ten Network’s Meghan McKeown shares her insight into the Caitlin Clark craze. The Boston Globe’s Chad Finn chats all things Bean Town. And SBJ’s Xavier Hunter drops in to share his findings on how the NWSL is making a social media push.

Learn more about your ad choices. Visit megaphone.fm/adchoices

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Global/Issues/2015/07/30/Finance/Sky-Customers.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Global/Issues/2015/07/30/Finance/Sky-Customers.aspx

CLOSE