29 Oct 2010

Advertisers spending more, says Sky TV

7:06 am on 29 October 2010

Sky Network Television believes it's headed for double-digit earnings growth this year, as both customers and advertisers spend more.

Speaking at the pay television company's annual meeting in Auckland on Thursday, Sky chief executive John Fellet says he's comfortable with analysts' forecasts that revenues this year will rise 15% to around $320 million.

While overall subscriber numbers have declined in recent years, Mr Fellet says customers are buying more expensive products, like My Sky.

He says it's also encouraging to see major advertising returning to the screens after a long recession.

Investors at the meeting approved a resolution to increase the pool of directors' fees by 50% to $750,000.

Sky's chairman, Peter Macourt, says directors have not had an increase since 2006, and he also hopes to expand the seven-strong all male board to include at least one woman director.