Sky New Zealand reports results for 2021 financial yearWednesday, August 25th, 2021
AUCKLAND — Sky New Zealand has reported a strong result for the 2021 financial year, delivering revenue of $711.2m, EBITDA of $186.4m and NPAT of $47.5m, including several one-offs.
The Sky Box customer base continues to stabilise, evidenced through further reductions in the rate of churn for Sky Box customers in FY21. These improvements are driven by retaining similar levels of acquisitions whilst improving levels of churn through enhanced customer insights, marketing and retention programmes. Average revenue per user (ARPU) has declined due to the impacts of COVID-19 related discounts, offering discounts following the migration of reseller customers to direct billing relationships and a small drop in average package holdings.
Following the strong levels of streaming customer growth in FY20 through Neon and Sky Sport Now, there was a small decline in FY21 due to the change in focus in RugbyPass, away from a subscription product service to an audience and network business, as well as a drop in Neon subscribers following the churn of some Lightbox customers on bundled services, albeit this was then followed by significant growth over the remainder of the year. Sky Sport Now benefited from the improvement in COVID-19 related sport restrictions in New Zealand and Neon had a strong content line-up.
2021 2020 2019 2018 2017 --------- --------- --------- --------- --------- Sky Box customers (1) 561,989 585,248 619,073 661,361 705,652 Streaming customers (2) 393,179 404,321 159,767 106,366 110,861 Other customers (3) - - - - 8,269 Total customers 955,168 989,569 778,840 767,727 824,782 Net customer growth - Sky Box -4% -5% -6% -6% -5% Net customer growth - streaming -3% 153% 50% -4% 22% Sky Box acquisition (4) 47,273 41,510 49,952 59,603 79,685 Sky Box churn (4) (69,287) (74,643) (91,841) (103,394) (113,226) Sky Box ARPU ($ monthly) (5) 78.40 82.08 83.46 84.54 85.05 Streaming ARPU ($ monthly) (6) 17.46 19.80 - - -
1. Sky Box customer groups comprise residential, commercial (including reseller in prior years), and broadband customers.
2. Streaming customer groups comprises Neon, Lightbox, Sky Sport Now, RugbyPass and retransmission.
3. Other customers include customers from non-trading businesses, IGLOO and Fatso.
4. Sky Box acquisition and churn is for Sky residential customers only, including reseller.
5. Sky Box ARPU is average revenue per user for Sky residential customers only, including reseller customers, calculated as the average for the twelve month period.
6. Streaming ARPU is the blended rate across Neon, Lightbox, Sky Sport Now, RugbyPass, and retransmission.
Links: Sky New Zealand