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Tue 21st Apr 2015 - Sky reports 242,000 new customers in Third Quarter
Sky reports 242,000 new customers in Third Quarter: Sky has reported 242,000 new customers in its Third Quarter to 31 March 2015, almost 70% more than prior year. It sold over one million new paid-for subscription products. The results are the highest Third Quarter growth in 11 years in UK and Ireland with record growth rate in Germany and Austria and the best Third Quarter performance in Italy for three years. It reported a 5% increase in group revenue to £8,453 million and a 20% increase in operating profit to £1,025 million. Jeremy Darroch, group chief executive, said: “We have delivered an excellent third quarter as customers across the enlarged Sky group respond to the quality and breadth of what we offer. In all, we attracted almost 70% more new customers than the prior year and over one million new products. By continuing the strong operating momentum of the first half, we have grown revenues by 5% and operating profit by 20% over the nine months. The UK and Ireland delivered a stand-out performance, reporting both the highest customer growth and lowest churn for eleven years. We took share in broadband and grew strongly in TV as our dual-brand strategy with NOW TV and Sky continues to deliver. At the same time, Germany enjoyed another record quarter of growth and Italy posted its best Q3 customer growth in three years. We’ve also delivered significantly increased customer loyalty in each of our businesses. We are particularly excited by our progress in original drama. Fortitude debuted as the most successful drama ever on Sky Atlantic in the UK, 1992 opened as our most successful original scripted series in Italy, while Germany took its first steps in international co-production with 100 Code. As these results demonstrate, our teams are working well together right across the new Sky. Five months in, our integration plans are progressing well and we are well positioned for the expanded growth opportunity ahead.” The company added: “Paid-for product growth of 760,000 in the UK and Ireland took us over the 37 million mark, bolstered by 27% year on year growth in TV, with 94,000 additions, and 43% growth in broadband, with 100,000 additions. In Germany, paid-for products increased by 212,000 with good growth in Sky Premium HD and another strong quarter performance from Sky+ to take it to 50% of homes. In Italy, paid-for subscription product growth was 30,000 with a new marketing campaign helping deliver strong growth in HD of 19,000. In all three businesses we continued to make exceptional progress on improving customer loyalty. Increased customer satisfaction resulting from the growth of connected TV services delivered a 90 basis-point reduction in 12-month rolling churn to 10.1% in the UK and Ireland, our best performance in 11 years and a 40 basis-point reduction quarter on quarter. In Germany, the increased take-up of two-year contracts contributed to a reduction of 240 basis points to 8.5%. Meanwhile, churn in Italy hit a low of 9.7%, 120 basis points down on the prior year, thanks to increased product penetration and a continued focus on the quality of customers in acquisition.”


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