Sky Italia has reported third quarter operating income of $40 million, an improvement of $23 million versus the $17 million reported a year ago. Local currency revenues increased 4 per cent, primarily related to increased advertising and subscription revenues. Sky Italia’s quarter-end subscriber base declined to 4.94 million due to the net reduction of approximately 86,000 subscribers during the quarter.
News Corp CFO Dave DeVoe said that News Corp was pleased with the financial performance of Sky Italia and underlined the “incredibly difficult time” that Italy is going through, defining it as “one of the most challenging periods that the country has faced in decades” – noting the impact on Sky Italia’s subscribers number which saw a reduction of 86,000.
Nonetheless DeVoe said that they “believe in the long-term future of the business: competitively, the business is stronger than it’s ever been with a top quality service and a powerful product” and given also “the low pay TV penetration in the country”.