In the last six months of 2010 BSkyB surpassed 10 million subscribers while growing operating profits to £520 million from £414 million in 2009 – growth of 26 percent.
Looking forward to 2011, Sky said they were cautious on the economic outlook for 2011 but were planning on launching a number of new services to add value to its existing products. Next week all customers will see the Sky Atlantic channel launch with content from HBO and AMC coming to this side of the world, including Mad Men and Treme - which comes from the same person who brought us The Wire. Later in the year, Sky Anywhere will bring Sky to mobiles and tablets. The roll out of Anywhere will be aided by BSkyB’s purchase of The Cloud which we reported on earlier this week.
Sky also announced it would be creating 1,500 new jobs around the UK in its contact centres including a new centre in Sheffield. The results also revealed that HD uptake was continuing to grow with 3.5 million customers now with a HD subscription. Sky broadband also showed growth with 24 percent of customer bundling broadband with their TV package. To reflect this growth, Sky is increasing its dividend by 11 percent year-on-year, to 8.74 pence.
Jeremy Darroch, Chief Executive, commented: “The business has delivered a half year of outstanding performance, with record product sales and strong double-digit growth in revenue, profit and cash flow. In recognition of the growing strength of the business, we are increasing the interim dividend by a further 11 percent, the seventh consecutive year of growth.”