October 24, 2019
Sky original content productions continue to drive the United Kingdom satellite TV operator’s bottom line.
The Comcast-owned subsidiary Oct. 24 reported that original content and sports programming increased third-quarter (ended Sept. 30) revenue 15.4% to $315 million from $273 million during the previous-year period.
Pre-tax earnings skyrocketed 46% to $899 million from $650 million during the previous-year period. Revenue declined 0.9% to $4.5 billion from $4.7 billion last year.
Specifically, Sky has triumphed from original series licensing of “Chernobyl,” “Patrick Melrose” and “Catherine The Great” to HBO.
Sky credited “Chernobyl,” which won 12 Primetime Emmys, for driving record subscriber growth in Q2. With the conclusion of the series’ initial broadcast, Sky said net customer relationships dropped in Q3 by 99,000.
Still total consumer relationships, which includes over-the-top video platform Now TV, have increased by 482,000 in the past 12 months.
Sky ended the period with 23.9 million subscribers, up 2.1% from 23.4 million during the previous-year period.