BSkyB On Target To Hit 8.5 Million Subs By 2010

Satellite broadcaster BSkyB is predicted to announce this week that it has a total of 8.5 million subscribers in the UK, up by around 200,000 for its Q2 results.

The broadcaster releases its results on Wednesday and it is expected that a new total will indicate the company is well on the way to its 2010 target of 10 million subscribers.

At the end of the first quarter, BSkyB had 74,000 broadband customers (see 1 Million Customers Register Interest In Sky Broadband), having launched the service in the summer of last year (see Sky Launches Free Broadband Service).

It is forecast that around 150,000 more subscribers will be added in the second quarter. That would still leave the company with a lot of work to do in order to make the one million broadband customers the City is expecting BSkyB to have by the end of this year.

Investment banking and institutional stockbroking business, Numis Securities, forecasts pre-tax profits of £300 million for the first half of the year, a 23% decrease on the previous year. Revenues should be up 12% to £2.2 billion.

A key area of interest for investors is any further explanation of Sky’s decision late last year to take an almost 18% stake in terrestrial broadcaster ITV (see BSkyB Chief Exec Defends Company’s Swoop On ITV Shares). The holding is currently subject to a regulatory review (see OFT Invites Comments On Sky Stake In ITV).

BSkyB: 020 7705 3000 www.sky.com