Releasing its Q3 numbers, Sky has reported strong demand from new customers, with existing customers continuing to take more from the broadcaster. 177,000 new customers joined during the quarter, with 686,000 more products in Sky homes.
Group revenue rose 5 per cent to £8.715 billion (€11bn), with a 12 per cent increase in operating profit to £1.143 billion.
“It’s been another strong quarter for Sky,” declared Jeremy Darroch, Group Chief Executive. “Our strategy to broaden our business, expanding into new markets and customer segments, has delivered further excellent financial results with revenue up 5 per cent and a double digit growth in profit.
“We want to offer customers the very best TV experience, whenever and however they want to watch. With the launch of Sky Q in February, we now have three outstanding products to meet all our customers’ needs. We are pleased with the early response to Sky Q, as we focus on establishing this premium product in its first market. Our approach to the connected home continues to engage customers; almost 11 million Sky households have now connected to enjoy our on demand services including Sky Box Sets, which recently launched in both Germany and Italy.
“Our content offering is getting bigger and better. With Sky originals, we are creating unique and high-quality shows such as Stan Lee’s Lucky Man, which drew record audiences. We have many more exciting original productions to look forward to with our first production in Germany, Babylon Berlin, shortly to begin filming and we have just announced our most ambitious production slate in the UK, featuring world class talent such as Idris Elba, Tim Roth and Christina Hendricks in six major new shows. Strengthening our movies offer, we secured our first group-wide movie deal with Sony this quarter, and for families we launched our new Sky Kids App, which will be rolled out in all territories. In sport, we are excited to become the exclusive home of Formula 1 in the UK and Ireland from 2019 whilst we will be showing UEFA Euro 2016 this summer in Italy.
“Our promise of world class content, commitment to innovation and brilliant service is persuading more customers to join and stay with Sky, in every market. As we pass the major milestone of 40 million products in UK and Irish households, we will continue to execute this successful approach across the group.”