Sky

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  • January 8, 2021

    Football rights economics: Low broadcasting competition underpins [...]

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    • Beyond the short-term impact of the COVID crisis, the value of football rights in Europe is heading down
    • Lower competitive intensity in the broadcasting market is the main reason, and looks unlikely to be reversed
    • The leagues must consider long-term initiatives to broaden demand—cash fixes risk worsening their structural problems
  • November 25, 2019

    Sky UK Q3 2019 results: balanced, but more to come?

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    While Sky’s overall revenues continue to rise, Q3’s growth was hampered by a significant fall in advertising revenue and to a lesser extent a slowdown in content sales. Underlying EBITDA growth was in the mid-teens. Next quarter, Sky will continue to benefit from lower Premier League rights costs versus last season, and profit appears on track to meet full year guidance. Q3 saw a rare decline in Sky’s total number of customers due to the conclusion of Game of Thrones. Sky clearly understands the value of unique content—recently extending its HBO deal. In our view, this was essential, since without a distribution deal for Disney+ (launching in the UK in March) Sky would lose Disney’s alluring content.