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Sky Revenues Drop 15.5% As Coronavirus Deals Big Blow To Advertising & Sports Subs

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Jake Kanter International TV EditorComcast has revealed that its European pay-TV broadcaster Sky has been far from immune to the headwinds of coronavirus, with the pandemic putting a significant drag on subscription and advertising revenues.In the three months to the end of June 2020, Sky’s total revenue dropped 15.5% to $4.1BN, with deep declines in income across its subscription, advertising, and content revenue streams.Advertising revenue collapsed by 43% to $321 in the second quarter, while Sky’s direct-to-consumer segment fell 9.4% to $3.5BN.Comcast said Covid-19 resulted in “lower sports subscriptions revenues” which means people were canceling their subs while big-ticket events, including the Premier League, were put on hiatus..

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