BSkyB reports 500% increase in weekly on-demand downloads over year

BSkyB’s latest financial report for the last nine months shows strong growth for the corporation, which surpassed revenues of £5.3 million and experienced a rapid growth in uptake of connected services.

The news comes shortly after BSkyB announced a change to the way in which it will be reporting its financial results – now merging the DTH figures with its ‘NOW TV’ numbers and a single ‘Customer Number’, making it difficult for analysts to monitor any shifts from subscription to on-demand pay models.

In addition to revenue growth, adjusted operating profit was up 9% (£994 million) and adjusted basic earnings per share of 43.7p was up 16%.

The results show a rapid growth in uptake of new connected TV services, with 2.3 million internet-connected Sky+HD boxes installed across the globe (up almost 600,000 on the last quarter), and 3.26 million Sky Go subscribers – up 66% year on year.

Average weekly on-demand downloads reached 4.5 million, a huge 500% year on year increase.

“Despite the tough consumer environment, we added 715,000 more subscription products in three months, taking the total past 30 million for the first time,” said BSkyB’s chief executive Jeremy Darroch.

“These results highlight the way that our successful transition to more broadly-based growth has created a bigger, more profitable business. And having more ways to grow serves us particularly well at a time when household budgets look likely to remain stretched.

“We will continue to focus on overall product sales as the best means of delivering sustainable growth and returns for shareholders.”

Darroch added that customers are taking advantage of new ways to watch Sky content, primarily via connected TV platforms.

BSkyB plans to create 550 new jobs as a result of the financial growth.