Eutelsat has admitted its video revenues are facing a mid-single digit decline.
Video, which represents 60% of the satellite operator’s business, recorded revenues of €164 million in the first quarter, down 3.4% quarter-on-quarter and 9.5% year on year.
Overall its revenues were down 2.4% at €273 million.
Eutelsat says the figures include the impact of the early non-renewal of a capacity contract with Digitürk from mid-November 2022. But its projections, which are otherwise in line with the sector as a whole, exclude the effect of Russian and Iranian sanctions which will be embarked for a full 12 months versus six months in FY 2022-23.
Professional Video revenues, which account for under 10% of the Video vertical, also decreased, reflecting lower occasional use.
Quarter-on-quarter, revenues of the four Operating Verticals, including Government Services, Fixed Connectivity and Mobile Connectivty were down by 2.3% like-for-like.
