Sky plc moves ‘with good momentum’ as revenues top £13.6bn

Media and entertainment giant Sky plc has grown revenues to £13.6bn.

The London-headquartered firm generated year-on-year sales growth of 4.5% in the 12 months to June 30 2018.

Sky’s revenue for the 2016/17 year was just under £13bn on a constant currency basis.

EBITDA for 2017/18 was £2.35bn, up from £2.15bn the year previous.

During the 12 months, Sky attracted more than half a million new customers to bring its total customer base to 26,515,000.

The company also ramped up its sports content offering by securing exclusive rights to broadcast Premier League games for seasons 2019-22, in addition to deals with Italy’s top tier Serie A league, the Austrian Bundesliga and Formula 1.

Jeremy Darroch, group chief executive at Sky, said: “It’s been an exceptional year. Over half a million new customers joined Sky this year and we now have 63 million products in customer’s homes as they continue to choose Sky over other providers.

“As a consequence, we have extended our leadership position as Europe’s largest direct-to-consumer media and entertainment business.”

He continued: “In the UK and Ireland, our largest market, we’ve delivered an excellent operational and financial performance whilst scaling our new initiatives. In Germany and Austria, we have comprehensively upgraded all our services as part of our plans for sustained long-term growth in what is Europe’s largest TV market.

“In Italy, we’ve had a ground-breaking year, opening up significant new growth opportunities for our business by offering new services over DTT and fibre, allowing us to reach new segments of the market.”

Speaking further, Mr Darroch said Sky has entered the year ahead “with good momentum”.

He added: “We have an excellent set of plans and we’re focused on executing them well. We are proud that Sky is recognised globally as an outstanding business and are confident we have the right assets and capabilities to continue creating long term growth opportunities and to capitalise on the strong position we’ve built.”

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