Shock! Horror! SkyTV reports a big $240m loss!

Forums › Sky, Neon, Lightbox › Shock! Horror! SkyTV reports a big $240m loss!

kryptonjohn

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#240170 24-Aug-2018 09:22

So says the headline:

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12112395

But actually they made a slightly improved operating profit of $119m, once a write-off of goodwill is removed from the occasion.

I have growing contempt for the local newspapers.

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#2078306 24-Aug-2018 09:46

So kinda like your headline then

Kirk

networkn

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#2078307 24-Aug-2018 09:46

Most businesses would be exceptionally happy to have 750K+ customers. It's a worrying trend (sort of) that they are losing customers, but it's incremental customer loss vs mass exodus loss.

MikeB4

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#2078308 24-Aug-2018 09:49

It is still a platform stuck in the 1990s. The metrics will continue to slide until they wake up and reinvent or get purchased.

networkn

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#2078314 24-Aug-2018 09:55

MikeB4:

It is still a platform stuck in the 1990s. The metrics will continue to slide until they wake up and reinvent or get purchased.

Change takes time.

As has been reported many times recently, they have new platforms but they will take to implement and people need to be patient.

kryptonjohn

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#2078326 24-Aug-2018 10:06

When Sky came out it I thought of it as a premium service. Over time it's come to be treated as mainstream. Maybe it needs to lose a few customers, gather a few improvements and go back to premium again.

tripp

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#2078327 24-Aug-2018 10:06

MikeB4:

It is still a platform stuck in the 1990s. The metrics will continue to slide until they wake up and reinvent or get purchased.

Sky is working on it, next 18 months is going to be a lot of fun :)

DaMuzzMan67

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#2078328 24-Aug-2018 10:07

57,000 customer loss in 12 months - not a great figure. Although, I agree - I would love to have a business with that many thousand customers paying me money each month...

Looks like most of the loss was caused by a write-off of goodwill created when merging with Independent Newspapers Limited. They needed to get it off the books at some stage - they just picked to do it now. They still made a good profit and declared a 7.5cent dividend to pay shareholders.

So really, no major news (apart from the subscriber loss) - just a book entry from the merger back in 2005...

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kryptonjohn

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#2078329 24-Aug-2018 10:08

tripp:

MikeB4:

It is still a platform stuck in the 1990s. The metrics will continue to slide until they wake up and reinvent or get purchased.

Sky is working on it, next 18 months is going to be a lot of fun :)

I think Sky *has* improved, finally, over the last year. There are more channels and more content, improved internet download functionality for back episodes etc, and as I posted elsewhere, their customer service has been very good.

kryptonjohn

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#2078331 24-Aug-2018 10:12

DaMuzzMan67:

57,000 customer loss in 12 months - not a great figure. Although, I agree - I would love to have a business with that many thousand customers paying me money each month...

Looks like most of the loss was caused by a write-off of goodwill created when merging with Independent Newspapers Limited. They needed to get it off the books at some stage - they just picked to do it now. They still made a good profit and declared a 7.5cent dividend to pay shareholders.

So really, no major news (apart from the subscriber loss) - just a book entry from the merger back in 2005...

According to the report, they still have >$1 billion of "goodwill" festering on their books. They're now paying a price for jacking that figure up so high.

I see the story has now been updated with a little more detail on this.

networkn

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#2078332 24-Aug-2018 10:14

One thing that frustrates me is not being able to download whole prior games of super Rugby. They have the highlights from the quarters, semis and final, but not the full games!

tdgeek

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#2078351 24-Aug-2018 10:44

MikeB4:

It is still a platform stuck in the 1990s. The metrics will continue to slide until they wake up and reinvent or get purchased.

Tired of hearing this. Explain why its in the 90's, what needs to be reinvented.

As per the many many threads here its ALL about price, people want it for cheap as chips. My favourite was one guy who will pay $20 for everything, the whole enchilada

When a deal comes along, everyone here jumps in to GET SKY.

Second favourite is rorting. Third favourite is monopoly. Fourth favourite is people complaining about streaming issues

One point in the article is that they will stick with satellite, that's interesting. I imagine they will still go Sky app online as well, a bit cheaper maybe, and satellite might be a bit more or unchanged. maybe they will get a deal with Optus as a per subscriber fee, leaving them free to push on with a full Sky app as there won't then be an economy of scale downturn for satellite as people slowly migrate to the app

ockel

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#2078358 24-Aug-2018 10:54

MikeB4:

It is still a platform stuck in the 1990s. The metrics will continue to slide until they wake up and reinvent or get purchased.

Cant get purchased. Sky would need to lose a lot of sport content before ComCom would allow it to be acquired as there is, apparently, no competition for sports rights.

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MikeB4

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#2078363 24-Aug-2018 11:02

ockel:

MikeB4:

It is still a platform stuck in the 1990s. The metrics will continue to slide until they wake up and reinvent or get purchased.

Cant get purchased. Sky would need to lose a lot of sport content before ComCom would allow it to be acquired as there is, apparently, no competition for sports rights.

Could get purchased from offshore or by a "non competing" entity

ockel

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#2078369 24-Aug-2018 11:05

MikeB4:

ockel:

MikeB4:

It is still a platform stuck in the 1990s. The metrics will continue to slide until they wake up and reinvent or get purchased.

Cant get purchased. Sky would need to lose a lot of sport content before ComCom would allow it to be acquired as there is, apparently, no competition for sports rights.

Could get purchased from offshore or by a "non competing" entity

You mean like Vodafone? Its an offshore non competing entity. Merger rejected as the new entity would have a dominant position in sports content (currently Sky has 100% of that content and Vodafone has 0%). What would have changed? Nothing. What would change if another non competing entity bid for it? Nothing.

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DarthKermit

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#2078374 24-Aug-2018 11:07

I'll start a give a little page for the poor suffering company.

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