Sky takes market share in broadband and grows strongly in TV

Jeremy Darroch
Jeremy Darroch
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MEDIA GIANT Sky has reported its highest third quarter growth in 11 years in the UK and Ireland as customers flocked to its subscription products.

The group said revenues rose 5 per cent in the nine months to £8.45bn.

Jeremy Darroch, group chief executive, 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.

“In all, we attracted almost 70 per cent more new customers than the prior year and over one million new products.

“By continuing the strong operating momentum of the first half, we have grown revenues by 5 per cent and operating profit by 20 per cent over the nine months.

“The UK and Ireland delivered a stand-out performance, reporting both the highest customer growth and lowest churn for 11 years.

“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. Five months in, our integration plans are progressing well and we are well positioned for the expanded growth opportunity ahead.”

Sky is a significant employer in Yorkshire with more than 1,600 staff across two sites in Leeds and Yorkshire.

It also owns a minority stake in Sky Betting and Gaming.

Mr Darroch is a graduate of Hull University.