Sky posts highest customer growth rate in 11 years
Sky has recorded its highest rate of third quarter customer growth in 11 years with 242,000 new subscribers joining its ranks, a 70 per cent increase on the year before.
These healthy numbers fuelled a 5 per cent increase in group revenue to £8,453m and a 20 per cent increase in operating profits to £1,025m
Commenting on the results Jeremy Darroch, group chief executive, said:“ The UK and Ireland delivered a stand-out performance, reporting both the highest customer growth and lowest churn for eleven years. We took share in broadband and grew strongly in TV as our dual-brand strategy with NOW TV and Sky continues to deliver. At the same time, Germany enjoyed another record quarter of growth and Italy posted its best Q3 customer growth in three years. We’ve also delivered significantly increased customer loyalty in each of our businesses.
“We are particularly excited by our progress in original drama. Fortitude debuted as the most successful drama ever on Sky Atlantic in the UK, 1992 opened as our most successful original scripted series in Italy, while Germany took its first steps in international co-production with 100 Code.”
The results come five months after Sky completed a merger of its UK, German and Italian operations.