Covid-19/Sky: a decrease in turnover for the pay-TV operator in the first quarter of 2020

The British pay-TV operator Sky have posted a turnover of $4.517bn (€4.09bn) for the first quarter in 2020, announced its parent company Comcast (a US media conglomerate and cable operator) on 30/04/2020. This figure is down 5.8% compared to the first quarter of 2019 (-3.7% at constant currency and perimeter).

The pay-TV operator present in the UK, Ireland, Germany, Austria and Italy lost 65,000 subscribers in the first quarter of 2020 (compared to the last quarter of 2019), out of a total of 23.9 million on 31/03/2020.

"Direct-to-consumer revenue decreased 1.9% to $3.7bn, primarily reflecting a decrease in average revenue per customer relationship due to the impact of Covid-19, which has resulted in lower sports subscription revenues, partially offset by an increase in customer relationships over the last twelve months. Advertising revenue decreased 11.6% to $513m, primarily due to overall market weakness, which was worsened by Covid-19, as well as an unfavorable impact from a change in legislation related to gambling advertisements in the UK and Italy. Content revenue decreased…