Sky Adds 56,000 Customers

Sky added 56,000 customers in the first quarter of 2008, taking its total number of subscribers to 8.9 million.

The satellite broadcaster, releasing results for its third quarter, said that Sky+ households grew by 262,000, to 3.4 million, while broadband customers were up 229,000 to reach 1,428,000.

The company added that it added 43,000 high-definition subscribers, taking its total to 465,000 at the end of March.

Churn, which shows how many customers left the service, was 10.5%,while average revenue per user increased to £424.

Sky’s revenues were up 10% over the same period to £3.7 billion, while its operating profit for the period was £504m, down 18% on last year.

Sky recently confirmed the launch of a legal challenge against the competition regulator’s ruling ordering it to sell the majority of its 17.9% stake in ITV (see Sky Confirms Legal Challenge To ITV Share Ruling).

Jeremy Darroch, chief executive said: “We are reporting a strong set of results today. We are delivering for customers through a combination of great quality, value and service. As a result, more customers are choosing Sky, they are more satisfied and they are taking more products than ever before.

“In the third quarter, despite a difficult consumer environment, customer growth increased by 10% on last year and third-quarter churn was at a four-year low.

“The success of our strategy is reflected in our financial performance. Revenue growth of 10%, increased quarterly profitability and reducing broadband losses put us on track to achieve our targets.”

Sky: 08702 40 40 40 www.sky.com