Sky TV reveals new set-top box with voice-controlled remote, other streaming apps

By Nona Pelletier for RNZ

Sky TV is looking to boost revenue and customer numbers with the development of revenue sharing with partners and the introduction of a new Sky box.

In a presentation to investors, the pay TV company said technology was transforming its business, with 86 per cent of its system in the cloud.

Sky TV’s investment is focused on software for such things as data analytics.

The introduction of the upgraded Sky box follows a few months of customer testing.

The box was easier to use, with a voice-enabled remote control, and could be bundled with other content services and apps, the company said.

The new boxes are expected to be in homes by the middle of next year, with a customer target of 150,000 to 200,000 by the end of 2024.

The company hopes the investment in new boxes will help it stabilise customer numbers and revenue streams over the next two to three years.

Sky expects investment in the new boxes will fall within 7 to 9 per cent of its capital investment envelope.

Streaming is expected to boost revenue, but at a more modest rate than in recent years, while other revenue, such as advertising, is expected to return to pre-Covid levels.

Revenue is expected to be between $695 million and $715m this year, down from $747.6m last year.

The company made a net loss of $157m in the year ended June 2020, but expects a net profit of $37.5m to $45.0m this year.

Sky plans to cut non-programming operations by $15m a year, with expected savings of at least $10m to $15m by 2024.

The company has locked in key programming costs for the next two to three years. This is expected to peak by 2024, before settling back to 45 to 50 per cent of revenue.

– RNZ

Source: Read Full Article