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25/07/2001
BSkyB announces half billion losses despite subscriber increase
British Sky Broadcasting (BSkyB) have announced their results for the year ended June 30 2001.
The company reported strong growth in digital subscribers to 5.5 million, up 21 per cent, revenue increased by 25 per cent to £2,306 million, and operating profit before the deduction of goodwill and exceptional items increased by 88 per cent to £160 million.
After goodwill, interest, share of joint ventures’ losses and exceptional items, the loss before tax was £515 million. The loss after tax was £539 million and resulted in a loss of 29.2 pence per share.
BSkyB also reported they have acquired just under 5.5m satellite subscribers, up around 940,000 on last year and 75,000 ahead of the previous quarter.
The company exceeded their target of £300 per year in average revenue per subscriber (ARPU) in the quarter to June 30, as a result of price increases in January. The churn rate remained at around 10 per cent.
Recent years have seen millions of subscribers moving to digital from analogue.
BSkyB have built up a dominant market position over their competitors by giving away digital set-top boxes to subscribers for free, but the cost of the giveaway has resulted in huge losses over the period.
But as the next generation of set-top boxes are expected to cost £300 it is unlikely these will be given away.
(GB)
The company reported strong growth in digital subscribers to 5.5 million, up 21 per cent, revenue increased by 25 per cent to £2,306 million, and operating profit before the deduction of goodwill and exceptional items increased by 88 per cent to £160 million.
After goodwill, interest, share of joint ventures’ losses and exceptional items, the loss before tax was £515 million. The loss after tax was £539 million and resulted in a loss of 29.2 pence per share.
BSkyB also reported they have acquired just under 5.5m satellite subscribers, up around 940,000 on last year and 75,000 ahead of the previous quarter.
The company exceeded their target of £300 per year in average revenue per subscriber (ARPU) in the quarter to June 30, as a result of price increases in January. The churn rate remained at around 10 per cent.
Recent years have seen millions of subscribers moving to digital from analogue.
BSkyB have built up a dominant market position over their competitors by giving away digital set-top boxes to subscribers for free, but the cost of the giveaway has resulted in huge losses over the period.
But as the next generation of set-top boxes are expected to cost £300 it is unlikely these will be given away.
(GB)
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