24 Feb 2015

Sky TV profit strong despite subscriber loss

8:24 am on 24 February 2015

Sky Network Television has lifted its half year profit, despite a loss of subscribers and greater competition in providing shows through the internet.

The company raised its net profit by 11 percent to $92.5 million in the six months to December due to lower interest, depreciation and amortisation costs.

Revenue rose two percent to $464.5 million, thanks to more lucrative MySky users, which helped lift the average revenue per subscriber to $79.43 a month.

That offset the loss of about nine thousand customers and a fall in advertising revenue.

Chief executive of Sky Television, John Fellet, said it was a mixed result reflecting the transition to a business model that meets the changes in customers' viewing habits.

"If you look at our percentage of programming costs, we've been able launch new channels, strengthen existing channels and our programming costs are still in that same range that they've been in for the last ten years," he said.

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