Sky Archives - GrowthRater

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Comcast’s buyers curse

“Accept the Recommended Comcast Offer Immediately”[!!!] If I was a Comcast shareholder I would be concerned about the apparent enthusiasm with which the Sky board were recommending that their shareholders accept their managements revised offer for Sky. Whoever was pulling the strings over at Sky (Murdoch, Disney?), they have played a blinder; extracting a 125% […]

Shrek gazumps Mickey & Murdoch

Perhaps the cunning plan was to absorb Sky while still carrying a hefty risk premium ahead of the all important Premier League (PL) football rights negotiations and then reap the benefit when these were renewed for what turned out to be -14%/-£199m pa reduction. Unfortunately, with 21st Century Fox’s (21CF) bid stranded with the UK […]

Wazzup – 27 July 2017 – a results palooza!

A results deluge today as companies report Q2 numbers ahead of the August holidays. Updates from RELX, ITV, DMGT, Sky, A3M, S&P Global, Amazon, Comcast, Nielsen, Solocal, Barrick, Dow Chemical, Fiat Chrysler, Eastman Chemical, BASF, Air Products, Danone and VW, to name a few. RELX – H1 FY17 results. Fortunately, another steady […]

Sky – cutting the cord

What could possibly go wrong? Sky subscriptions are cyclically resilient because people go out less in recession and therefore spend more time at home where they value their telly subscriptions more. This was certainly true back in 2008 and before that for US cable in 2001. I should know, I was trotting out this argument […]

Sky’s response to rising churn and weaker subscriber growth is……to put prices up. Brilliant!

Yesterday, Sky announced its Q3 FY16 results (the Jan-Mar 2016 quarter) where it reported a slight deterioration in net subscriber additions in its core UK operation (of +70k QoQ vs +127K the year before) including an increase in churn from 10.1% to 10.7% notwithstanding a flat ARPU of £47. After the +6.8% UK sales increase […]

Mediaset is still looking like a value trap

Reviewing last week’s Mediaset results I was struck by a sense of deja vue. Here was a company that for a third consecutive year was denying that it was not trying to sell its lossmaking PayTV unit (Mediaset Premium) in the face of supposedly well sourced rumour to the contrary, this time to Vincent Bollore’s […]