Binge Surpasses 300,000 Subscribers As News Corp’s Subscription Video Revenue Falls
News Corp has reported a seven per cent year-on-year increase in Foxtel subscribers, led by the resurgence of Kayo and the launch of Binge.
As of September 30, Foxtel now has 3.287 million paid subscribers, made up of 2.055 million residential and commercial broadcast subscribers, 644,000 paying Kayo subscribers and 298,000 paying Foxtel Now subscribers.
Binge, which only launched in May, now has 321,000 subscribers, 290,000 of which are paying.
After experiencing an initial purge of subscribers in April as live sports ground to a halt, the latest quarterly results highlighted the steady growth of Kayo, which added 280,000 paying subscribers from the year prior.
The encouraging results for Kayo and Binge came as News Corp’s subscription video services revenue fell $US18 million, or four per cent. This drop in overall subscription revenue was attributed to a fall in residential broadcast subscribers and a $US14 million negative impact on commercial subscriptions.
Broadcast subscriber churn in the quarter also increased slightly to 14.6 per cent, up from 14.4 per cent the year prior.
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