Sky tops 9 million subscribers

Sky has passed the 9m subscriber mark, adding 87,000 customers net in the three months to September 30.

Almost half of its total customer base now takes Sky+ after a record 421,000 subscribers signed up to use the standard definition personal video recorder during the period. Customers taking the premium Sky+ HD box increased by 93,000 to a total of 591,000; in July, the retail price of the high definition box was reduced from £150 to £99.

Despite churn ticking up to 10.9% in the quarter, driven by the implementation of Sky's annual price rise, the company managed a quarter-on-quarter increase in revenue of 5% to £1.24bn, and gross profit of 8% to £843m. Profit after tax, which was hit by a £24m write-down of Sky's investment in ITV and other impairments, still rose 22% quarter-on-quarter.

Sky warned, however: "The economic climate is tougher than it has been for many years and like all companies we face uncertainty. While no consumer business is immune to a downturn, our move to a broader customer offer, including leading broadband and fixed-line telephony services as well as the best home entertainment, has enabled us to build a healthy and relatively resilient subscription base. There remains substantial headroom for growth in our core sectors, both through adding new customers and selling more products to them. This, together with our focus on cost efficiency, is delivering improved profitability."

Sky was particularly pleased with the number of customers taking its Sky Broadband and Sky Talk services. 1.8m homes now take Sky's broadband offerings and 1.4m subscribe to Sky Talk; 12% of its total customer base take the "triple-play" proposition of TV, broadband and phone all from Sky.