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Sky Q1 2017/18 results: Solid quarter, but challenges remain - Venture Insights

Report Overview

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Sky Q1 2017/18 results: Solid quarter, but challenges remain

PublisherEnders Analysis.
Publish Date October 17, 2017
Sector Media, Telecom, TV, UK Media.
Company SKY.

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Sky made a strong start to fiscal 2018, with improved customer net adds across each of its markets versus the previous quarter, as well as group revenue growth at 5%

Operating profits switched back to growth, after the negative Premier League effect annualised out, with it now settled at the full cost of £1.4 billion per year. EBITDA growth hit 11%, or 15% excluding the effect of UK mobile and the Spanish OTT launch

Against the backdrop of continued uncertainty around the UK advertising market, attention has turned to the upcoming Premier League auction, though we think it unlikely that digital players will cause disruption