Sky’s increase of 77,000 subscribers in the last quarter helped buoy parent company Comcast. Over the course of the 12 months Sky grew its ‘customer relationships’ comprising TV, broadband and telephony subscriptions by 394,000.
Revenues of $5 billion were consistent with 2018, increasing by 1.4%, as higher direct-to-consumer and content revenue were partially offset by lower advertising revenue.
12-month revenue decreased 3.0% to $19.2 billion compared to 2018.
Sky, like other broadcasters, have been hit by changes in legislation governing the advertising of gambling that have been introduced in the UK and Italy.
Sky’s adjusted EBITDA for the 12 months to December 31, 2019 increased by 7.1% to $3.1 billion.
Comcast itself lost 140,000 video customers in the third quarter, higher than the 139,000 anticipated by analysts and the 11th consecutive quarter of losses.