As part of NewCorp’s announcement of Q4 and financial year results, it has been revealed that Foxtel recorded several wins including a 13 per cent rise in paid subscribers up to 4.4 million.
The rise in subscribers has been contributed to growing interest in sports streaming service Kayo and recent addition BINGE. Kayo reached a total of 1.312 million subscribers, up 22 per cent, while BINGE rose a whopping 53 per cent to 1.263 million.
Adjusted revenue for the year was up 1 per cent, despite the raw numbers showing a minor loss for the company (down 3 per cent against the 2021 Q4 revenue). News Corp CFO Susan Panuccio identified “foreign currency headwinds” as the main factor behind this fall.
Adjusted segment revenue was up 3 per cent for the quarter, while adjusted full year segment EBITDA rose 4 per cent.
Panuccio added: “Streaming revenues accounted for 23 per cent of circulation and subscription revenues (Q4), versus 16 per cent in the prior year and more than offset broadcast revenue declines this quarter. We believe this is a key inflection point for the business and has helped underpin the recent stability in Foxtel Group’s revenue.”
Additional numbers on the Q4 data:
- Foxtel Now reached 201,000 subscribers (195,000 paid), down 12 per cent
- Flash, launched in October 2021, reached 29,000 subscribers (11,000 paid)
- Foxtel residential and commercial broadcast subscribers were 1.723 million, down 9 per cent
- Foxtel Residential subscribers declined to 1.481 million
