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Sky’s European economics play on Comcast

January 27, 2023 10.56 Europe/London By Julian Clover


Comcast is to launch a single global interface for products including Sky Glass and Xfinity.

It comes as the owner of the Sky platform recorded noncash impairment charges of $8.6 billion in its European operations amid challenging economic environments.

In an earnings call, Brian Roberts, Comcast’s chairman & chief executive officer confirmed there would be a series of announcements on its global technology platform. This will see the launch of one global user interface for Sky Glass, Xfinity, X1, Flex, Xumo and our US and international partners.

“This scale not only brings us operational efficiencies, but it also puts us in the enviable position when it comes to conversations with distributors, OEMs, programmers, app developers and talent,” he said.

Roberts told analysts that Sky Glass was the top-selling UHD TV model, while Sky Mobile is the fastest-growing mobile provider, surpassing 3 million lines. Sky Broadband now has over 6.5 million subscribers.

Direct-to-consumer revenue was also consistent compared to last year, reflecting growth in the UK, driven by wireless and broadband revenue, offset by declines in Germany and Italy.

There were positive additions across the UK, Italy, and Germany of 129,000, driven by broadband and wireless, suggesting video remains challenging.

Sky’s EBITDA decreased 15% to $340 million, including $89 million of severance expense, which is $53 million higher compared to last year’s fourth quarter.

Comcast tripled the number of Peacock subscribers, surpassing 20 million at year-end, though the Sky version of the app appears to be given less love than at its launch with fewer local premiers.

Comcast’s Consolidated Adjusted EBITDA Increased 5.0% to $36.5 billion.

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Filed Under: Business, Editor's Choice, Finance, Newsline, Top Story, TV Tagged With: Comcast, Sky Edited: 30 January 2023 12:37

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About Julian Clover

Julian Clover is a Media and Technology journalist based in Cambridge, UK. He works in online and printed media. Julian is also a voice on local radio. You can talk to Julian on X @julianclover, or by email at jclover@broadbandtvnews.com.

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