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Foxtel On A Roll As Subscribers Grow 66%

Foxtel is on a roll with their streaming subscribers growing by 66% in the last quarter.

1.8 million of the total closing paid subscribers were residential and commercial broadcast subscribers, and the remaining 2.1 million consisted largely of Kayo, BINGE and Foxtel Now subscribers.

The news comes as archival Nine Entertainment, tips millions into trying to emulate Foxtel’s investment in sport for their Stan streaming platform.

In the latest News Corp results it was revealed that BINGE and Kayo each reached more than 1 million total subscriber and that paid subscribers were more than 3.9 million at the end of December, up 19% compared to the prior year.

Recently Foxtel knocked back a multimillion-dollar deal which Stan Sport picked up with the signing of a partnership with Australian Racing Group to cover the new domestic ARG Speed Series and key Australian motorsport events.

Although the terms of the deal have not been divulged insiders have told ChannelNews that when Foxtel management ran a ruler over the deal Vs the potential returns “the deal did not stack up”.

Foxtel has the rights to Group a Racing.

On the downside Foxtel revenue fell $13 million, or 3%, to $US498 million compared with the prior year due in part to commercial properties closing down due to COVID, this was made up by the increase in streaming subscribers.

This year Foxtel is looking to move iQ4 customers off satellite and cable to Internet streaming, a move that will save the network millions going forward claim analysts.

Residential broadcast subscribers and lower commercial subscription revenues due to the impacts of COVID led to the fall in Foxtel revenues.

Foxtel Group streaming revenues represented approximately 19% of total circulation and subscription revenues in the quarter.

Adjusted Revenues decreased 3% compared to the prior year.

With the NRL and AFL seasons about to kick off Kayo is tipped to grow their subscriber base even further.

Kayo has 648,000 subscribers, up from 624,000 in the previous quarter.

BINGE had more than 1 million subscribers (928,000 paying) as of December 31, 2021, compared to 468,000 (431,000 paying) in the prior year.

There were 219,000 Foxtel Now subscribers (211,000 paying), compared to 265,000 subscribers (258,000 paying) in the prior year.

Broadcast subscriber churn in the quarter improved to 13%, the lowest since the first quarter of fiscal 2019, from 17.5% in the prior year.

Key Foxtel Group Subscriber Metrics
Total Foxtel Group subscribers were 4.08 million (3.94 million paid) as at December 31, up
21% on the prior year.

Total streaming subscribers, including Kayo Sports, BINGE and Foxtel Now reached 2.29
million (2.16 million paid), up 66%.

– Streaming subscribers represent 56% of the Foxtel Group’s total subscribers.
– Kayo reached 1.03 million subscribers (1.01 million paid), up 59%.
– BINGE reached 1.04 million subscribers (928,000 paid), up 122%.
– Foxtel Now reached 219,000 subscribers (211,000 paid), down 17%.
 Foxtel Residential and Commercial broadcast subscribers were 1.782 million.
– Foxtel Residential Broadcast subscribers declined to 1.56 million.
– ARPU was up 3% to A$82.00 through a continued focus on Foxtel’s premium brand
positioning.

– Foxtel Residential Broadcast churn continued to moderate in the first quarter, improving
100 basis points to 13.0% compared to the first quarter FY22, and the lowest since the
first quarter of fiscal 2020.
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