Foxtel’s streaming products reached about 2.1 million paid subscribers in the September quarter, according to News Corp's first quarter results.
This is a 69% rise in subscribers compared to the same three months last year.
News Corp, majority owner of Foxtel, reported Subscription Video Services EBITDA (Earnings Before Interest, Taxes, Depreciation) growing 46% to US$114 million.
Revenue was up 3% to US$510 million.
“Higher revenues from Kayo and BINGE and higher advertising revenues were offset by the impact from fewer residential broadcast subscribers and the negative impact from lower commercial subscription revenues primarily resulting from recent lockdowns related to the global COVID-19 pandemic," says News.
“Foxtel Group streaming subscription revenues represented approximately 19% of total circulation and subscription revenues in the quarter. Adjusted Revenues were flat compared to the prior year.”
As of September 30, Foxtel’s total paid subscribers were around 3.9 million, up 17% compared to the prior year. About 1.8 million of the total paid subscribers were residential and commercial broadcast subscribers.
There were around 1.1 million Kayo subscribers (total and paying), compared to 681,000 subscribers, 644,000 paying, in the prior year.
Binge had 885,000 subscribers, 802,000 paying, as of September 30 compared to 321,000, 290,000 paying.
Foxtel Now had 239,000 subscribers, 227,000 paying, compared to 310,000 subscribers, 298,000 paying.
Broadcast subscriber churn in the quarter improved to 14% from 14.6%.
“Segment EBITDA in the quarter increased $36 million, or 46%, compared with the prior year,” News says.
“The improvement was primarily driven by $34 million of lower sports programming rights and production costs, which reflects the $36 million negative impact seen in the first quarter of fiscal 2021 from the recognition of sports programming rights and production costs deferred from the fourth quarter of fiscal 2020.
“The Segment EBITDA improvement was also due to a $3 million positive impact from foreign currency fluctuations. Adjusted Segment EBITDA increased 42%.”
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.