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Foxtel profit, subscribers up.

Australia's largest pay TV provider made a $107 million before-tax profit.

Foxtel has grown its number of direct subscribers to 1.58 million households in the six months to December 31, up 2.1 per cent on the previous corresponding period.

Including wholesale subscribers, it grew to more than 1.66 million.

Australia’s largest pay TV provider made a $107 million before-tax profit.

Earnings before interest, tax, depreciation and amortisation increased 0.7 per cent year-on-year to $280 million and pre-tax profit was up 5 per cent to $107m.

The 13.4 per cent customer churn (cancellation) rate over the six months, which was up from 12.5 per cent a year earlier.

Meanwhile new CEO Richard Freudenstein said ”Most of the subscription growth is from our existing customers taking more products … including really really good penetration of multi-room [which allows subscribers to watch Foxtel in several rooms] by world standards.’

But he also said he couldn’t comment on the progress of Foxtel’s $1.9bn takeover bid for its regional rival Austar, being considered by the Australian Competition & Consumer Commission.

Source:  The Age, The Australian.

3 Responses

  1. wow! sorry but my BS detector is going nuts here…
    i got at least 4 calls in the lead up to xmas asking me if i wanted to upgrade to multi room free for three months… I eventually took up the offer in November only to be told in Jan 12 that the offer was actually only one month, hence why i was being charged… needless to say i canned the whole thing in favour of Fetch…

    Anyone else get this? surely you cant manipulate the figures and deceive shareholders that easily?

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