Sky revenues on the up as competitors close in
TV GIANT Sky has reported a 5% increase in revenue as it focuses on original programming.
For the nine months to 31 March 2016, revenue increased 5% to £8.7bn.
Sky employs 1,200 people in Leeds, having brought 600 jobs in website and app development to Leeds Dock.
The broadcasting firm agreed a pan-European movie deal with Sony and extended sporting partnerships, bringing Formula 1 and UEFA Euro 2016 under its wing.
It is still receiving stiff competition from online providers such as Netflix, Amazon Prime and challengers such as Hulu, which may explain the focus on original content.
Jeremy Darroch, group chief executive, commented:”It’s been another strong quarter for Sky. Our strategy to broaden our business, expanding into new markets and customer segments, has delivered further excellent financial results with revenue up 5% and a double digit growth in profit.
“Our content offering is getting bigger and better. With Sky originals, we are creating unique and high-quality shows such as Stan Lee’s Lucky Man, which drew record audiences. We have many more exciting original productions to look forward to with our first production in Germany, Babylon Berlin, shortly to begin filming and we have just announced our most ambitious production slate in the UK, featuring world class talent such as Idris Elba, Tim Roth and Christina Hendricks in six major new shows.”
