Sky HD bump boosts profit

BSkyB says pre-tax profit almost doubled in the nine months to the end of March, driven by a 76% bump in takeup of its high definition television service.

SKY
SKY

The pay-TV company reports pre-tax profit increased to £707m in the last three quarters, up from £339m in the same period a year earlier.

Revenue rose to £4.4bn, up 10% from the £3.9bn registered last year.

The broadcaster, which operates the Sky 1 and Sky Sports channels, says therewere 428,000 net additions to its HD service in the period, up 76% year on year.

Jeremy Darroch, chief executive of Sky, claims the “huge” response was due to its decision to “cut the upfront cost” of the service for customers.

The company has investment heavily in its HD service. It adds Sky News HD will launch on election night.

The pay-TV firm reports it added 62,000 net new customers in the three months to the end of March, pushing it subscriber base to 9.7 million.

Darroch adds that the results show that its “financial performance is accelerating”.

The company says the number of customers taking its TV, broadband and telephony package increased 39% year on year in the nine months to March.

Earlier this week, the Competition Appeals Tribunal says it would consider Sky’s appeal against Ofcom’s March ruling that it should cut the prices it sells sports content to rivals.

Latest from Marketing Week

NOT REGISTERED? IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now

THE BEST CONTENT

Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here