Sky Italia Chairman James Murdoch has told an investor call that the paycaster has never been better positioned competitively, despite a loss of 71,000 subscribers on the year.
Announced as part of parent News Corp’s quarterly financials, Sky Italia reported one of its best-ever quarterly results.
“Sky Italia has never been better positioned competitively. It is performing very well in a challenging environment” and that “when you hold it up to where Mediaset is, or where Telecom Italia is… we feel very good about the positioning,” said Murdoch. “The focus from a strategic point of view is getting a handle on the cost base… right-sizing the business in an economic environment that is very different from what it was a number of years ago”.
News Corp CFO Dave DeVoe added the quarter’s operating income “reflects the challenging economic environment in Italy that is directly affecting subscriber additions and churn”.
Sky Italia generated quarterly segment operating income of $89 million (€71.9 million), compared to $145 million of operating income reported a year ago. 42,000 subs lost in the quarter took the subscriber base to 4.9 million.