BSkyB today extolled the success of its digital services, reporting sales of 2.6 million, despite blaming its rapid expansion in the digital world for a £61.5 million pre-tax loss in its half-year results.
The broadcasting group has been giving away set-top boxes in the race to become the largest digital service provider in the UK. It said today that it intends to push its subscriber base to 5 million by the end of this year. Its nearest rival ONdigital announced half a million digital sales in its latest results (see ONdigital Takes Half A Million Subscribers).
The group also announced its intention to invest £250 million in boosting its online ventures sky.com and skysports.com. Over the next twelve months it plans to “build cross platform portals driving viewers between the television, internet and the interactive television service, Open”. Tony Ball, chief executive of the group said that to “enhance the presence of the Sky brand and content in the new media field” was a priority with “the objective of skysports.com becoming the number one sports portal.”
A major deal with Kingston Communications to deliver TV and internet services down the telephone was also announced as well as investments in net retailer Streets Online and interactive television developer and design company Static.
Turnover for the group was up at £874.6m compared to £772.1m for the same period last year. Shares in the group rocketed yesterday in anticipation of its results (see Sharewatch).
BSkyB: 020 7705 3000
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