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    Sky Financial Results for 2015

    This is a discussion on Sky Financial Results for 2015 within the Sky news and announcements forums, part of the SkyUser Announcements category; Sky have today posted their preliminary annual results for 2015. The results combine, for the first time, the figures from ...

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      Sky Financial Results for 2015

      Sky have today posted their preliminary annual results for 2015. The results combine, for the first time, the figures from both Sky Deutschland and Sky Italia which Sky bought in November 2015. However there are some parts which compare the UK & Ireland figures of 2014 with 2015 figures.

      To read the full report please look here: https://corporate.sky.com/documents/...ts-release.pdf

      The main points which that want people to note is that revenue has risen by 5% and profits are up 18%. A cynic might point out that with the recent hike in TV subscription for UK customers, these figures might be artificially high. The UK & Ireland figures show revenue was up 6% and profits were up by 12%.

      The UK & Ireland customer base has risen above 12 million for the first time. Whilst more people have more than one product (i.e. TV, telephone & broadband), NowTV is also making a positive impact on sales.

      Churn (the number of people who leave) is still high IMHO at 9.8% (10.9% in 2014). It is the lowest for Sky for the past 11 years. All those retention deals appear to be working for more people!

      The market has always been competitive and 'new customer' deals often entice people to switch between suppliers in order to get the best deal. In the past year BT introduced their TV products and TalkTalk has also been gaining strength with theirs.

      Whilst there is much anger over the price paid to watch football on Sky Sports in the UK, Sky Italia has secured the rights to all 472 matches in Serie B football for the next three seasons. When added to the rights to all Serie A matches, of which one third are exclusive, and all Europa League matches, this confirms Sky as the number 1 choice for football fans in Italy.

      The report reminds people that Sky Sports has concluded a total of 35 deals in the last 18 months.

      In the UK and Ireland, Sky Sports has concluded a total of 35 deals in the last 18 months. We achieved success in the Premier League auction in February with the rights to 126 live games a season from 2016 to 2018, three times as many live matches as any other broadcaster. Additionally, we secured exclusive live coverage of The Open golf championship and strengthened our offering in boxing with the extension of our exclusive partnership with Matchroom Sport in May. This will see us offer up to 120 nights of live boxing over the next six years. Also in boxing, the Mayweather Pacquiao pay-per-view fight in May became the highest grossing pay-per-view fight ever for Sky in the UK and Ireland, and also in Germany and Austria.
      Innovation
      More than 7 million Sky customers now have their STBs connected to the Internet in the UK & Ireland. This represents 65% of Sky's customer base.

      This has meant that the On Demand & CUTV content have seen over 1.5billion downloads in the last 12 months. An increase of 60%. This has also had an effect on the Buy and Keep service that was introduced in 2014. It now sees weekly revenues in excess of £1million. Perhaps now they will consider adding Blu-ray films to the service too?

      Sky launched a connected box in the German market in December. To date on 250,000 boxes have been hooked up. Based on how the progress has been here, I suspect that this will only get higher over the next few years.

      Sky Italia introduced an IPTV based STB in April. This will allow Italian customers to get Sky TV without a Satellite dish.

      NowTV customer will see the new faster box released next month.

      Service
      With the increase in on-line service and various tweaks to the Sky+ HD STBs, Sky have seen a reduction in calls to their call centres by 11% in the UK & Ireland. Just to remind you, the latest firmware updates make it easier to pair a viewing card to your STB. This was one of the most popular types of calls.

      The on-line services from Sky now the community forums, twitter, facebook, Sky Service app and the improved 'Services' menu on the Sky+ HD STB. They have also added various help pages on their website and uploaded more content on YouTube.

      At the same time, we closed the year with customer satisfaction at a record high. This was reflected in the latest Ofcom survey which showed Sky leading the market on customer satisfaction with the fewest complaints across TV, broadband and home phone services.
      In Italy, we reduced our calls per customer by 12% over the year as we moved more customer interactions online with downloads to our self service mobile app surpassing 1.5 million by year-end. Meanwhile, we almost doubled customer satisfaction scores on the prior year.

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      Re: Sky Financial Results for 2015

      Sky Broadband UK Growth Stable to Reach 5.62 Million Internet Users

      Sky Broadband UK Growth Stable to Reach 5.62 Million Internet Users - ISPreview UK
      Sky Broadband is holding its own against increasing pressure from BT and this is demonstrated by their Q2 2015 results reporting another +96,000 increase in Internet subscribers for the UK and Ireland (total 5.62 million), which is only a small dip from the +100k added in Q1 2015 and +106k in Q4-2014.

      The news is good given that Sky seems to operate in an increasingly difficult environment, which over the past few months has seen BT continuing to challenge what makes the media giant so attractive (e.g. TV and premium sports content). But despite that Sky has spent big to retain much of its hold (example), albeit at a cost to consumer prices.

      Most recently BT has picked up a new AMC channel with an exclusive UK airing of The Walking Dead TV spin-off (‘Fear the Walking Dead’) and they’ve also become the first to launch a 4K Ultra HD TV channel for sports content, which is an area where Sky would normally be expected to pioneer.

      But today’s results show that Sky, which is fighting back with its NOW TV video streaming service and also still retains the lion’s share of top-level premium TV sports content, is managing to hold its own and actually improved upon their broadband growth vs the same period last year (Q2 2014 saw +50,000 net additions).

      Jeremy Darroch, Sky’s Group CEO, said:

      The past 12 months have been an outstanding period of growth for Sky. We’ve successfully completed a deal that has transformed the size and scale of opportunity for the business whilst delivering an excellent financial and operational performance as more customers chose Sky and took more of our products.

      It’s clear that the steps we have taken to broaden out our business are paying off. By distributing our content over multiple platforms and launching new products and services, we are now able to offer something for every household.


      The UK and Ireland, where our strategy is most progressed, put in a particularly strong performance. We passed the 12-million customer milestone with the highest growth in 11 years; we surpassed 38 million paid-for subscription products; and we delivered the lowest churn in 11 years. This is the direct result of the investments we’ve made in connected services and quality content with more than 7 million customers now connected
      .”
      Sadly Sky’s results, which earlier this year were consolidated and simplified into an incredibly vague form following the merger with Sky Italia (Italy) and Sky Deutschland (Germany), don’t give us a lot of detail. But we do learn that their Average Revenue Per User (ARPU) remains stuck at £47 per month, while Churn fell from 10.1% in Q1 to 9.8% now.

      Sky’s share price is also continuing to ride high, despite a recent slip, and in 2016 they’ll become a quad-play provider by launching their own consumer mobile services via O2’s MVNO platform (here). Mind you BT has recently called upon Ofcom to take a closer look at Sky’s dominance of the Pay TV market and the regulator is already known to be investigating some aspects of this (e.g. Premier League Footy).

      Put another way, Sky appear to be doing well in an increasingly competitive environment, but the media giant will need to keep innovating if they’re to avoid losing what they’ve already gained. The forthcoming mobile service will help, but Sky also needs to get a move on with their 4K TV plans (SkyQ) and it wouldn’t hurt to introduce a more competitive broadband router than the somewhat low-spec SR102 (Sky Hub); we know a fair few people can be discouraged by that last one.

     

     

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