Sharewatch: BSkyB Dips Amid Continued Subscriber Worries
Satellite TV giant BSkyB performed poorly yesterday, dropping 1.38% to close at 483p as concern continued amongst investors over slowing subscriber growth. The company has recently signed sponsorship deals with several radio stations to boost its profile amongst non-typical audiences.
The pay TV heavyweight recently agreed a sponsorship deal with Classic FM to cover its daily drive-time show, as well as signing to sponsor Virgin Radio’s high-profile Pete & Geoff breakfast show. BSkyB will also sponsor Capital Gold Network’s breakfast show for the next three months as it attempts to reverse the subscriber slowdown (see Capital Signs Breakfast Sponsorship With Sky).
The satellite broadcaster failed to meet its self-set goal of adding 100,000 new subscribers a quarter earlier this year (see Sky Profits Rocket Despite Slowing Subscriber Rates). The recent spate of radio advertising and sponsorship marks the first phase of BSkyB’s brand relaunch and extensive cross-media campaign to promote its service to the millions who still do not subscribe to it (see Sky Targets Digital Refuseniks With Cross-Media Campaign).
Elsewhere magazine publisher Emap saw its share price inch up by 0.06% to 787˝p. Speculation has been raised that the company is planning a new women’s title to boost its portfolio, and is targeting the top end of the sector having acquired the publishing rights to Italian fashion magazine, Grazia (see Emap Targets Older Readers With Upmarket Women’s Title).
Radio group GWR continued to see its share price slip, losing 0.60% to close at 246˝p. Yesterday saw the company’s subsidiary, NOWdigital, announce a new digital radio multiplex covering the Cambridge region, boosting the availability of GWR’s stations in the area and increasing choice for residents (see Boost To DAB Radio As Cambridge Gets Local Multiplex).
The FTSE 100 performed well yesterday, adding 25.3 points to its total to close at 4,707.1. Meanwhile the FTSE 250 managed a less impressive performance, losing 9.4 points to close down at 6,391.6.
The closing prices of media company shares on Tuesday were:
