UNTERFÖHRING, Germany--(BUSINESS WIRE)--In the third quarter of the 2014/15 financial year, Sky Deutschland delivered record customer growth. The number of direct subscribers increased by 103,000 (Q3 2013/14: 64,000), which is 61% above the previous year’s period. At the end of March, the total number of direct subscribers reached 4,225,000 (Q3 2013/14: 3,731,000), representing an increase of 494,000 subscribers over the last 12 months – the highest year-on-year growth in the history of the company. Supported by the continued take-up of two year contracts, customer loyalty improved significantly with the 12-month rolling churn rate dropping to 8.4% (Q3 2013/14: 10.6%).
In Q3 2014/15, total revenues grew to €455 million (Q3 2013/14: €421 million). Subscription revenues were the key driver, up 9% to €419 million (Q3 2013/14: €384 million), driven by accelerated new customer additions and the continued strong performance on churn. Total costs excluding depreciation went up by 1% to €433 million (Q3 2013/14: €429 million). This reflects the planned step up in costs related to the enhanced Bundesliga rights, offset by the shift of two Bundesliga match-days from Q3 into Q4 this fiscal year as well as by the change in estimates in programming costs. As a result, EBITDA for Q3 2014/15 amounted to €22 million (Q3 2013/14: negative €9 million), which is an improvement of €31 million year-on-year.
Brian Sullivan, CEO of Sky Deutschland: “Sky's constant focus on customers has once again driven record growth and a strong set of results. With almost half a million net new customers joining in the last 12 months Sky is becoming a must have for anyone who loves great entertainment, and the potential keeps growing. I am incredibly proud of what our team has delivered, and it’s just getting started.”
About Sky Deutschland:
Sky is the leading pay-TV provider in Germany and Austria with more than 4.2 million subscribers and annual revenues amounting to approximately 1.7 billion Euros. The program portfolio of Sky includes live sports, feature films, series, children’s programs and documentaries. Sky has around 2,500 employees and is based in Unterföhring near Munich. The company is a part of Sky plc, Europe’s leading entertainment group (Status: 31 March 2015).