Sky UK Q2 2020 results – Emerging from the worst?

Report Overview

Sky UK Q2 2020 results – Emerging from the worst?

Already a Subscriber? Login here to view Full Report

Sky UK Q2 2020 results – Emerging from the worst?

Sport is back, but its recent hiatus amid the COVID-19 crisis hit Sky hard, with Q2 revenue plunging 12.9% year-on-year. EBITDA remains flat for now, with sports rights cost absorption postponed but not cancelled
Sky updated its EBITDA guidance to -60% across H2, reflecting increased costs from a condensed sports schedule and a return to planned investments, as well as continued weakness in advertising and pub revenues
Meanwhile, Sky marches on with new branded channel launches in the UK. On the Continent, the successful renewal of German Bundesliga rights provides some certainty, of which there is none in Italy for either the Serie A or the Champions League

Contents

Headline financials

On screen performance with the return of live sport

Channels and content

Continental Europe

Conclusion

List of charts/tables

Figure 1: Headline financials ($m) and YOY growth rates*

Figure 2: Sky direct-to-consumer revenue YOY growth

Figure 3: Sky retail customer quarterly net adds (000)

Figure 4: UK weekly TV viewing share, Sky Sports and Sky News, 2020 (%)

Figure 5: Average TV audience to Premier League matches, 2019/20 season (m)

Figure 6: New Sky-branded channel launches