Sky Reports Near-70% Rise In New Customers
Sky has announced a big rise in new customer numbers, alongside financial results showing growth in both revenue and profits for its first nine months.
The European entertainment company, which owns Sky News, said it added 242,000 households in its third quarter to 31 March.
It represented a group increase of almost 70% on the previous year, Sky said, and amounted to its best performance in the UK and Ireland for 11 years.
The firm, which struck separate deals costing around £7bn to acquire control of its namesake operations in Italy and Germany last year, said customer growth in Germany was running at a record rate.
Operating profit was up 20% on the same period last year to £1.03bn while group revenue rose 5% over the nine months to £8.45bn.
Sky chief executive Jeremy Darroch said: "We have delivered an excellent third quarter as customers across the enlarged Sky group respond to the quality and breadth of what we offer.
"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.
"As these results demonstrate, our teams are working well together right across the new Sky."
The results were the first to be announced since Sky won the rights to show the majority of live Premier League football games for three years from 2016-17.
The £4.176bn it agreed to pay represented a rise of almost £2.2bn on the previous auction.
Mr Darroch said at the time the company had a "clear plan" to absorb the cost, with savings elsewhere dominating.
The focus of its UK battle with BT has now shifted to so-called quad play, offering home phone, broadband, TV and mobile bundles.
Sky has announced a partnership with Telefonica Europe that will allow it to offer mobile voice and data services to customers from 2016.
BT has entered the mobile market again and is planning to spend £12.5bn buying EE.
Sky's share price rose more than 4% when the FTSE 100 opened on Tuesday.
