What They Say
In the report on Q4 from parent company, Comcast, Sky is reported to have lost 198K subscribers in the UK, Germany and Italy. Revenue was down in Q4 by 2.4% to $5.07 billion, although subscribers did increase in Q4 as did revenue overall, by 3.1% compared to 2020. Italian subscriptions are said to have been hit by Sky losing the rights to some Serie A football rights. Overall, Sky still has 23 million customers including Austria and Ireland.
Comcast also owns NBCUniversal and its streaming service, Peacock, ended 2021 with 24.5 million monthly active accounts in the US. As of July, the company said it had 54 million sign-ups for the platform.
Revenue at Comcast’s theme parks rose to $1.9 billion, up 191 per cent, as the sector continues to recover from the pandemic.
What We Think
Streaming is impacting even the most successful of the broadcasters. I don’t see Sky Glass as impacting the likely direction, although I found over the holiday that I had a family member that is thinking of getting a set just because it’s easy to connect. (BR)
