The overall number of Sky subscribers fell in the year to end June, but the company has been successful in tempting enough existing subscribers with its higher-cost new services that profit increased.
The company’s spend on programming was 32% of its income, its average figure over the last five years. There might be a lot more channels on the service than there were five years ago, but Sky’s spend on its own content offer hasn’t grown as a proportion of income.
Income was up 2% to $928 million, the subscriber base fell 1.5% to 851,561 (or 47% of NZ households), while profit climbed 6.4% to $171.8 million.
The much-commented on delayed release of SVOD service NEON, following on from the much-commented etc Igloo, didn’t help earnings during the period.
Sky’s report is available for download here