Foxtel Group paid streaming subscriptions that include both Binge and Kayo have risen in the last quarter compared to the same September ending quarter in 2022.
Despite the rise, streaming revenues have fallen revenues by $22M or 3% as consumers battle rising costs, this is seen as being expected as consumers switch from winter sports spanning NRL and AFL during summer months.
The fall was attributed to foreign currency fluctuations.
The Foxtel Group streaming subscription revenues represented approximately 30% of total circulation and subscription revenues for the three months ended September 30, 2023, as compared to 25% in the corresponding period of fiscal2023.
The impact of foreign currency fluctuations of the U.S. dollar against local currencies resulted in a revenue decrease of $21 million, or 4%, for the three months ended September 30, 2023, as compared to the corresponding period of fiscal 2023.
For the three months ended September 30, 2023, Segment EBITDA decreased $18 million, or 16%, as compared to the corresponding period of fiscal 2023, driven by higher sports programming rights costs due to contractual increases and the $4 million, or 3%, negative impact of foreign currency fluctuations.
“As of September 30, 2023, Foxtel’s total closing paid subscribers were nearly 4.6 million, a 2 per cent increase compared to the prior year, primarily due to the growth in streaming subscribers driven by Kayo and BINGE, partially offset by fewer residential broadcast subscribers.’.
Both Binge and Kayo subscriptions grew in the quarter compared to the same period in 2022.
Binge was up from 1.45M in September 2022 to 1.5 million while Kayo was up from 1.2M to 1.4M in the same period.
Total subscribers paid were 4.6M up from the prior 2022 period.
