BSkyB CFO Andrew Griffith Discusses Earnings, Market Growth, and Regulatory Concerns

Strategic Insights -

BSkyB Chief Financial Officer Andrew Griffith reported that the company is nearing its 10 million subscriber target and is experiencing strong revenue growth, with a 15% increase in revenue this quarter and earnings up 33%. The company's focus is on expanding its product offerings and increasing customer choice, with plans to launch a new channel, Sky Atlantic, which will feature HBO content. Griffith emphasized the company's commitment to innovation and customer satisfaction, highlighting initiatives such as 3D TV and HD content.

Key Takeaways:

  • BSkyB is nearing its 10 million subscriber target, with a current total of 9.6 million subscribers.
  • The company has experienced strong revenue growth, with a 15% increase in revenue this quarter and earnings up 33%.
  • BSkyB plans to launch a new channel, Sky Atlantic, which will feature HBO content and include popular series such as Mad Men.
  • The company is focused on expanding its product offerings and increasing customer choice, with initiatives such as 3D TV and HD content.
  • Griffith emphasized the company's commitment to innovation and customer satisfaction, highlighting its investment in customer services and content.
  • BSkyB has created over 500 new jobs in the past year and plans to spend over £300 million on content in 2011.
  • The company's focus on innovation has allowed it to become a global leader in 3D TV, with a strong growth rate of 78% in broadband and talk services this quarter.
  • Despite regulatory concerns, BSkyB has not been distracted from its business, with earnings up 33% and profits up 25% this quarter.

Statistics:

  • BSkyB has 9.6 million subscribers, nearing its 10 million target.
  • Revenue growth is up 15% this quarter, with earnings up 33% and profits up 25%.
  • The company's broadband and talk services have experienced a 78% growth rate this quarter.
  • BSkyB has created over 500 new jobs in the past year.
  • The company plans to spend over £300 million on content in 2011.
  • The company's 3D TV service has become a global leader, with strong growth in this area.

Sources:

  • Bloomberg News, "BSkyB CFO on Earnings, Growth, and Regulatory Concerns," Maryam Nemazee, June [no date provided]
  • BSkyB official website, "Andrew Griffith on BSkyB's Financial Performance," [no date provided]