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The economic downturn as well as increased competition has combined to damage subscriber numbers at Sky Italia, with profits “collapsing” according to a report from Enders Analysis. The position could change in 2014, says the report. Sky Italia has around 4.8 million subs.
“The subscriber base seems to have levelled off, revenues are stable, but profits have collapsed. Management plans cost cuts to raise profitability by 2016,” says Enders. “The upcoming auction for the 2015-18 football rights could see Sky gaining more exclusivity at a higher cost, which it would have to recoup mostly by rising prices. The key potential upside resides in an Italian economic upturn – which is only conceivable in a few years’ time.”