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Sky signals the end of the satellite dish Sky signals the end of the satellite dish
(35 minutes later)
Sky plans to make all its channels and content available online, meaning customers will no longer need a satellite dish on their property.Sky plans to make all its channels and content available online, meaning customers will no longer need a satellite dish on their property.
The pay TV broadcaster already offers some programming online on its Sky Go and Now TV services. The pay TV company already offers some programming online on its Sky Go and Now TV services and through Sky boxes.
Sky called the move a "major development" that would reduce costs and allow it to enter new markets.Sky called the move a "major development" that would reduce costs and allow it to enter new markets.
It is a response to the move away from costly pay TV subscriptions in favour of streaming services such as Netflix. It hopes that making its hundreds of channels more widely available will increase both revenue and profits.
Italy will be its first market to get all Sky channels online, followed by Austria, with the UK expected to follow in 2019. Italy will be its first market to get all Sky channels online, followed by Austria, with the UK expected to follow later this year or in 2019.
The move will allow properties that cannot have a dish to get Sky, a spokesperson said. Customers will still need a Sky box, however.The move will allow properties that cannot have a dish to get Sky, a spokesperson said. Customers will still need a Sky box, however.
The broadcaster hopes making its channels available to more homes will increase both revenue and profits. Sky's move is an attempt to competition from the likes of streaming services such as Netflix and Amazon.
Jeremy Darroch, Sky chief executive, said the consumer environment was expected to remain "challenging".Jeremy Darroch, Sky chief executive, said the consumer environment was expected to remain "challenging".
Reporting its results for the six months to 31 December, Sky said average revenue per user in the UK and Ireland - its biggest market - fell £1 to £46 a month. Reporting its results for the six months to 31 December, Sky said average revenue per user in the UK and Ireland - by far its biggest market - fell £1 to £46 a month.
However, the number of customers leaving - the "churn" rate - decreased from 11.6% at the end of 2016 to 11.2%.However, the number of customers leaving - the "churn" rate - decreased from 11.6% at the end of 2016 to 11.2%.
Sky said the fall was a result of more customers taking its latest Sky Q box and a "more disciplined and targeted approach to discounting". Sky said the fall was a result of more customers taking its premium Sky Q box and a "more disciplined and targeted approach to discounting".
Mr Darroch said there was good growth at both the top end of the market, with its premium Sky Q product now in 2 million homes in the UK and Ireland, and the bottom end with Now TV. Mr Darroch said there was good growth at both the top end of the market, with its premium Sky Q box now in 2 million homes in the UK and Ireland, and the bottom end with Now TV.
Now TV offers sports, movies and entertainment channels over the internet more flexibly and cheaply than through a Sky subscription.Now TV offers sports, movies and entertainment channels over the internet more flexibly and cheaply than through a Sky subscription.
The number of retail customers in the UK and Ireland rose by 255,000 to 12.9 million, while Sky added 365,000 new customers to bring the total to 22.9 million. A new USB stick will allow customers to watch Now TV content on any television - including EU countries when an expected change to "geoblocking" rules comes into effect this summer.
The number of Sky retail customers in the UK and Ireland rose by 255,000 to 12.9 million, while Sky added 365,000 new customers to bring the total to 22.9 million.
Like-for-like revenues rose 5% to £6.7bn in the half-year and pre-tax profit jumped by £106m to £448m compared with the same period in the previous year.Like-for-like revenues rose 5% to £6.7bn in the half-year and pre-tax profit jumped by £106m to £448m compared with the same period in the previous year.
Last year 21st Century Fox made a bid to buy the 61% of Sky that it does not own. Both companies are controlled by media mogul Rupert Murdoch.Last year 21st Century Fox made a bid to buy the 61% of Sky that it does not own. Both companies are controlled by media mogul Rupert Murdoch.
This week the the UK's Competition and Markets Authority ruled that the proposed takeover was not in the public interest on grounds of media plurality.This week the the UK's Competition and Markets Authority ruled that the proposed takeover was not in the public interest on grounds of media plurality.
Since Fox made the bid it has agreed to be taken over by Disney, so the US media giant could end up owning Sky.Since Fox made the bid it has agreed to be taken over by Disney, so the US media giant could end up owning Sky.
Sky shares rose 1% to £10.33 in morning trading in London, valuing the company at £17.7bn.Sky shares rose 1% to £10.33 in morning trading in London, valuing the company at £17.7bn.