6 May 2016

Sky TV losing thousands of subscribers

12:23 pm on 6 May 2016

Sky Television has told investors the company is losing thousands of customers from its pay TV service.

Sky's share price dipped more than 12 percent this morning, as the market reacted to the news that Sky expects to lose 45,000 pay TV customers in the year to the end of June.

The company says the decrease is due partly to subscribers leaving following the Rugby World Cup, but will be compensated by a 25,000 increase in the number of customers on its Neon and FanPass services.

It expects the total number of subscribers at the end of June to be around 830,000

Sky continues to face increased competition from internet television services such as Netflix, and Spark's Lightbox service.