BSkyB Adds More Customers But Posts Q1 Loss

01 May 2008

LONDON: UK satellite provider BSkyB added 56,000 subscribers during the first quarter of 2008, bringing its total number of customers to 8.88 million and fuelling confidence for full-year targets.

The News Corporation-controlled business says its 10.5% level of churn was at a four-year low during the quarter.

Ceo Jeremy Darroch believes the company is withstanding the current economic downturn when consumers are spending less time in stores and more time in front of their televisions and computers.

He declares "The sorts of services we offer are very important to our customers, especially as they are spending more time in the home. 

"We have strong products backed up by a strong record in customer services. I think we are well-placed."

BSkyB's overall Q1 revenues rose to £1.25 billion ($2.45bn; €1.58bn), compared with £1.2bn for the same period in 2007, but writing down a big fall in the value of its investment in rival ITV meant the company recorded a loss after tax of £6m.

Data sourced from BBC Online; additional content by WARC staff