Sky adds 100k customers, posts GBP9.6 billion for Q1

Sky adds 100k customers, posts GBP9.6 billion for Q1

Sky, a BSkyB company said it added a total of 100,000 new subscribers for the first quarter of 2017.

The disclosure was contained in its first quarter results which showed that the company made a total of GBP9.6 billion in revenue.

The data is a 11% year on year growth for its revenue. Adjusted Group EBITDA rose to GBP1.5 billion; adjusted Group operating profit of GBP1.0 billion.

Jeremy Darroch, Group Chief Executive said “It’s been another strong quarter for Sky, despite this being our seasonally quietest period. We continue to perform well, attracting another 106,000 customers across the Group in the quarter, taking growth to 769,000 over the last 12 months. We have delivered strong revenue growth of 11% and are on track financially with operating profit for the nine months exceeding £1 billion.

“We’ve made good progress on the growth plans that we laid out. We launched Sky Mobile to create a substantial new source of revenue and profits. We have continued to improve the customer experience with further enhancements to our Sky Q and Sky+ platforms as well as the launch of our digital customer service via the My Sky app. We have concluded a number of long term rights renewals and are announcing today a major new multi-year co-production deal with HBO, as well as a ground breaking virtual reality experience in partnership with Sir David Attenborough and the Natural History Museum.

“Looking forward, we enter the final quarter of our fiscal year in good shape. Despite the broader consumer environment remaining uncertain, we continue to deliver on our strategy and are on track for the full year. ”

Sky also announced a USD250 million coproduction partnership with HBO to develop drama series.