Yahoo Movies Sky Shows Signs Of Recovery From Covid Crisis As Revenues Rise 28% To $5.2B
Sky has become the second major European broadcaster in two days to show signs that the worst of the coronavirus pandemic is in the rear-view mirror.
Following an encouraging set of ITV earnings on Wednesday, Comcast revealed that Sky’s revenues rose by 28% to $5.2B in the second quarter of the year after improvements in advertising, direct-to-consumer (things like sports subscriptions), and content sales.
More from Deadline
For the six months ended June 30, Sky’s revenue increased 18.9% to $10.2B, compared with $8.6B over the same period in 2020. The improvement was not far off ITV, which posted a 26% increase in revenues to £1.8B ($2.5B) in the first half of 2021.
It was not all good news, however. Sky’s adjusted EBITDA fell 25.3% to $560M in Q2, while its total customer relationships decreased by 248,000 to 23.2M. It marks a trend of customer contraction under Comcast, as streamers continue to make inroads into the wallets of TV audiences.
Sign up for Deadline's Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.
