Pay-television provider Foxtel has posted a 21 per cent lift in first half earnings as subscribers increasingly added new services and products to their accounts.
Foxtel recorded earnings before interest, tax, depreciation and amortisation (EBITDA) of $238 million for the six months to December 31, up from the prior corresponding period.Revenue rose nine per cent to $989 million, from $908 million, it said in a statement this morning.
The company said 55 per cent of all subscribers now had Foxtel’s iQ digital recorder, up from ‘‘around a third’’ at the same time a year ago.
Moreover, takeup of Foxtel’s multi-room and high-definition service had more than doubled from a year ago.Foxtel had 1.516 million subscribers at December 31, 2009, which was up five per cent from the prior corresponding period.
The company said churn levels were ‘‘slightly lower’’ than the prior corresponding period.
'Dynamic new service'
Foxtel chief executive Kim Williams said a ‘‘dynamic new broadband service’’ would be launched in the second half of 2010, one of ‘‘many exciting initiatives this year’’.
Foxtel launched its digital download service in October this year, and followed that up with 12 new channels, eight time-shift channels and 15 high definition channels in November.‘‘
Foxtel has never represented a better value source of in-home entertainment,’’ Mr Williams said in a statement today.
AAP
