Britons are flocking to sign-up for BSkyB’s new digital TV packages at the rate of 100,000 per month, according to the latest figures released yesterday by the satellite broadcaster.

Total subscribers now stand at 4.95 million, well ahead of the company’s 4.75m forecast. Of the current total, 4.1m are subscribers to the digital service, and Sky is expected to pass its target of 5m comfortably before the year end.

But this spectacular progress comes at a price. Effectively Sky has been buying new subscribers with offers of free mini-dishes and set-top boxes, a strategy that has racked-up substantial losses.

In the quarter ended September 30, Sky’s cumulative loss rose to £123.6m – up from £13.6m in the same period in 1999.

News source: BBC Online Business News (UK)