Sky hit by costs of Premier League, announces HBO deal

Sky hit by costs of Premier League, announces HBO deal

The announcement comes as Sky reported an 11% year-on-year hike in revenues to £9.6B ($12.4B) for the nine months ending March 31.

Overall group revenue rose by 5% to £9,641 million, while United Kingdom revenue increased by 4% to £6,410 million.

Sky said the EBITDA at its Italian unit increased 44 percent year on year to GBP 202 million, with customers rising to 4.8 million, up 68,000 on the year-earlier figures.

Sky said it had added 106,000 new customers during its third quarter, or three months to the end of March. At constant exchange rates, that growth was 5pc.

A "consistent" flow of greenlights is expected, with "at least" two dramas projected per year.

Mortgage Rates Thursday, April 20: Slightly Higher, Still at 5-Month Lows
The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA fell to 4.09% from 4.14% during this period. The Mortgage Collaborative network is more than 100 lenders strong, with an annual origination volume of $156 billion.

Sky's customer base across its European markets now stands at 22.4 million. "This new venture deepens that relationship, maintains our leadership position in world-class content, provides great opportunities for indies and gives our customers even more opportunity to enjoy brilliant storytelling", he added. "We have continued to improve the customer experience with further enhancements to our Sky Q and Sky+ platforms as well as the launch of our digital customer service via the My Sky app".

Sky has announced a multi-year co-production deal worth £195m with United States television network HBO, which will see the pair produce "high-end drama". "Together we represent the best in television and combined we will raise the bar even higher in pay-TV programming". "Our content has never looked stronger", the CEO said, lauding Sky's original series, which he said are getting "stronger", and its licensing deals with major Hollywood partners, including HBO, Showtime and the major studios.

Media tycoon Rupert Murdoch's Fox announced in December a deal to buy the 61-per cent stake in Sky it did not already own for £11.7 billion.

That news was released along with the Sky's results for the nine months to April.

Jeremy Darroch, chief executive officer (CEO) of Sky, spelled out the challenges confronting the broadcaster in its home market, pointing to economic headwinds in the form of weakened retail sales, consumer confidence and house price inflation and noting that "the environment we're dealing with therefore at the margin puts a little more pressure on the business".

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