NZ Cricket to Spark Sport

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#2334807 10-Oct-2019 11:08

surfisup1000:

How can Sky survive?

They can't.

To his credit, the new CE made the right noises but, unfortunately for him, the die was long cast.

WyleECoyoteNZ

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#2334819 10-Oct-2019 11:16

Could be bye bye Sky, but as they have a bit of Motorsport (Supercars, MotoGP, NASCAR, Indycar), I suspect for a little while I'll have to have both Sky and (get) Spark.

Some of the older generation might struggle with the change. My inlaws have my old flat screen LCD TV, but it's not a smart TV. Getting them to chromecast or the like is going to be confusing for them, or they might have to buy a new TV.

The other question, which in my opinion, will determine a bit, is who employs the current line up of commentators (Doull, Smith, Richardson etc)? Are they employed by Sky or NZC?

sen8or

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#2334877 10-Oct-2019 11:34

Surely the directors of Sky would have to be seriously considering the solvency of Sky and their ability to trade?

Market share declining rapidly.

Share price, dropped 60% in just 8 months

Key assets being lost to competitors

I don't know what Sky's current financial position is, I could only (through a quick google search) see the 2018 results, but they weren't pretty

5 year trend of declining revenue, profit, returns to shareholders, cashflow, company value.

Depending on their contractual obligations, the directors must be sweating their obligations under the companies act about wreckless trading and/or trading whilst insolvent.

Massive blow and not to be underestimated i suspect...

How funny championing Spark after all the years of Telecom doing to NZers exactly what Sky have been doing (life it seems is not without a sense of irony, Morpheis, the matrix)

sen8or

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#2334881 10-Oct-2019 11:41

Maybe its normal for a broadcasting company, but at June 18, more than the entire value of the company was goodwill / intangible assets, scary stuff

SheriffNZ

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#2334886 10-Oct-2019 11:43

sen8or:

Maybe its normal for a broadcasting company, but at June 18, more than the entire value of the company was goodwill / intangible assets, scary stuff

I imagine it would be, given the value of the business is largely driven by the rights they hold to broadcast product in NZ. These rights are intangible assets.

sen8or

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#2334905 10-Oct-2019 11:59

But the value they place on them is the scary part. How much would they have pinned on the NZ Cricket contract over the next few years?

If they had been accounting for it correctly, the existing contract should have been amortized down to nil at expiry with costs of new one accounted for upon signing. Given their impairment of $360mio in 2018, they may have been doing this.

How do they value the intangibles?

It should be lower of fair market value or net realizable gain. Arguably with something like broadcasting rights, its not an exact science, how much importance do NZ audiences place on particular broadcasts and to what level of income can you attribute to those broadcasts.

Rugby for example would be a sport where a high value can be placed on the rights, without it Sky would be well and truely dead in the water. In terms of sport, I'd have thought cricket would be a close 2nd, if not then certainly in the top 5 (Rugby, soccer, motorsport, cricket, basketball, netball)

Oh to be a fly on the wall at the next Sky management meeting....

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kiwifidget

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#2334907 10-Oct-2019 12:07

This is a real blow to people with data caps. It's marginal enough to stream a rugby game for 80-100 minutes, but quite another to stream all day for a 50-over match, or the 5 days of a test match.

Delete cookies?! Are you insane?!

karni

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#2334953 10-Oct-2019 12:24

cyril7:

Mahon:

Who actually films all the matches in NZ? I thought it was Sky?

OSB which is contracted to Sky, but naturally works for anyone including TVNZ

Cyril

Slight correction, OSB is owned by Sky.

ALTRON

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#2334978 10-Oct-2019 12:44

Yogi02:

tdgeek:

Yogi02:

Gutted! - Looks like Sky will be bye bye after cricket. The main reasons I have it are cricket, F1 and MotoGP - (and endless reruns of car restorations lol)

What about cricket with NZ thats offshore? Sky will have that, so you will need Sky for MotoGP and offshore cricket

MotoGP, you can easily pay for a season pass through their own service.

I get the motogp season pass. Its a little on the $$ side but its totally worth it if you're into motoGP

I also have SSN and have demo'd motogp on that via kodi addon. The official motogp app+chromecast is waaay better quality than SSN.

SSN at a muddy looking 50fps while the official app + chromecast is a native 60FPS=looks great.

ANyone know of a good legit motogp addon for KODI?

sorry for off topic

Yogi02

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#2334982 10-Oct-2019 12:54

sen8or:

Surely the directors of Sky would have to be seriously considering the solvency of Sky and their ability to trade?

Market share declining rapidly.

Share price, dropped 60% in just 8 months

Key assets being lost to competitors

I don't know what Sky's current financial position is, I could only (through a quick google search) see the 2018 results, but they weren't pretty

5 year trend of declining revenue, profit, returns to shareholders, cashflow, company value.

Depending on their contractual obligations, the directors must be sweating their obligations under the companies act about wreckless trading and/or trading whilst insolvent.

Massive blow and not to be underestimated i suspect...

How funny championing Spark after all the years of Telecom doing to NZers exactly what Sky have been doing (life it seems is not without a sense of irony, Morpheis, the matrix)

Shares are taking a bit hammering today - been down to 0.90 (19% drop), be interesting to see where it ends up.

surfisup1000

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#2334983 10-Oct-2019 12:55

"Sky is now valued at just $381 million - compared to the $2.7 billion market capitalisation at its peak in mid-2014"

Sky executives have overseen a loss of 2.3 billion dollars in shareholder value. I wonder if they have been receiving bonuses?

This is Skys kodak moment.

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vexxxboy

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#2334985 10-Oct-2019 13:01

all i can say is now i have to buy two subs to watch all the cricket which is not going to happen and the one to miss out will be the streaming service, i hate streaming sport it never seems to work without some glitches and i dont want to pay for extra equipment to watch it and anyway the boxing day test is on Sky along with the Indian tour and most of the T20 tournaments .

Common sense is not as common as you think.

invisibleman18

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#2334986 10-Oct-2019 13:02

So I guess as with the football, if it's your big thing you still need both Spark and Sky. Interesting to see how much Spark put their price up or whether they start offering subscriptions per sport.

tdgeek

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#2334989 10-Oct-2019 13:06

kiwifidget:

This is a real blow to people with data caps. It's marginal enough to stream a rugby game for 80-100 minutes, but quite another to stream all day for a 50-over match, or the 5 days of a test match.

I agree

BUT less than half the population have Sky. You can argue that with Spark, less people miss out. I see the beatup on Spark on Stuff Comments, I bet half of them pasted what they beatup on Sky in the past. Monopoly, missing out, etc, etc.

dafman

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#2335001 10-Oct-2019 13:13

kiwifidget:

This is a real blow to people with data caps. It's marginal enough to stream a rugby game for 80-100 minutes, but quite another to stream all day for a 50-over match, or the 5 days of a test match.

Data caps, like Sky set top boxes, are fast becoming things that used to be if you like watching sport.

Despite all the hand-wringing and whinging over Spark streaming the World Cup, they've shown, to date, that the world doesn't end when major sports move off Sky's 1980's box. Thanks to the World Cup, a lot of people who couldn't stream now can. This, coupled with today's cricket announcement, surely is the 80-minute final whistle for Sky. We just now need to wait for them to depart the pitch in an orderly fashion.

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