Sky makes strong start to financial year | Pay-TV | News | Rapid TV News
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skyBabyDriver 12oct2017Despite some uncertainties in its key markets, pay-TV giant Sky has made a strong start to its latest financial year, posting 5% and 11% yearly increases in like-for-like revenue and EBIDTA.

All in, for the finical quarter ended 30 September 2017, Sky banked £3.3 billion, with revenues split £2.104 billion in the UK and Ireland, £591million in Italy and £459 million in Germany and Austria. Group EBITDA for the quarter was £582 million with a respective territory split of 408 million, £99 million and £17 million. There was a 15% increase in established business EBITDA to £606 million, excluding investment in new business.

For the quarter Sky claimed ‘good’ demand for products and services, adding 160,000 new customers in the quarter, up 51% year-on-year. The quarter also saw over 800,000 subscription products added, passing the 60 million mark including 9.6 million pay-as-you-go sports and entertainment buys, up 12% annually. Sky Q was said to continue to grow 'strongly' 18 months since launch in the UK with 1.6 million customers taking the service, up 23% since Q4.

Going forward, Sky revealed that it was increasing investment in its Sky Originals slate by 25% during the fiscal year, showing four major dramas every single quarter, including the eagerly awaited premiere of our first German production, Babylon Berlin, on 13 October.  As part of what it called ‘a big year of innovation’, Sky is launching in Q1 its Sky Soundbox all-in-one sound system in the UK and it is rolling out Sky Q, to Italy.  It will follow this with the launch of Sky Q in Germany and Austria in the first half of 2018.

“We've had a strong start to our new financial year with good revenue growth and excellent profit growth as investments we've made come through,” said Sky group chief executive Jeremy Darroch commenting on the results. “Against the backdrop of pressure on consumer spending and lower spend on UK television advertising, we were particularly pleased with our own EBITDA growth. Our investment on-screen to broaden our offering is delivering with viewing to Sky channels up 10% year on year. Customers have lots to look forward to as we continue to enhance our products and services in all territories.”