Sky UK Q2 2020 results – Emerging from the worst?
- Publisher Enders Analysis.
- Publish Date August 11, 2020
- Sector Media, Telecom, UK, UK Media.
- Company

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