The highest organic growth in 11 years has taken the number of Sky subscribers in the UK and Ireland to over 12 million. The figures also include the NOW TV OTT platform that is seen as a prime source of growth.
In the 12 months to June 30, 2015, there was a 5% increase in group revenue to £11,283 million and an 18% increase in operating profit to £1,400 million.
The company also enjoyed its highest ever growth in Germany and Austria (see separate story).
“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,” said Sky chief executive Jeremy Darroch.
“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.”
UK revenues were up by 6% to £7,820 million and operating profit up 12% to £1,350 million.
Quarterly TV growth increased by 49% to 113,000, while broadband additions of 96,000 were up 92% year on year.
Churn stood at 9.8% on a 12-month rolling basis, the lowest for 11 years; all three markets have churn below 10%.
Sky in Germany and Austria also delivered a strong year’s performance, achieving a 9% increase in revenues to £1,377 million. Here Sky D added 467,000 new customers, the highest customer growth since launch, including 55,000 new customers in Q4.
Sky in Italy delivered revenues of £2,086 million; the customer base remains stable at 4.7 million after three years of decline.