Sky TV’s summer satellite issues have led to it taking a financial hit as it announced its half-year results.
The broadcaster has suffered a 106% decrease in net profit, registering a $1.75 million loss.
It says its satellite migration project and prolonged economic headwinds had contributed to the half-year result.
Chief executive Sophie Moloney said it had been a difficult half year, “due to both the interruptions flowing from Project Migrate and the ongoing economic pressures facing businesses and consumers”.
“While there are some one-off factors impacting our results, the fundamentals of our strategy and progress against our priorities remain a cause for optimism.”
In its statement to the NZX, Sky said: “While around 95% of our customers have not experienced any issues, for those who have been impacted it has been a very frustrating experience, especially for those customers who encountered several rescheduled technician visits without sufficiently clear communication of the rescheduled dates”.
“This communication issue was primarily driven by the unplanned uplift in volumes, and credits have been offered to those customers directly impacted. We are keenly attuned to the poor customer experience but to provide context on the scale of the demand, the inbound technical calls into our Customer Care centre rose during January by 61%, and service call-outs more than doubled (to 500 per day).”
Sky TV has also secured the broadcast cricket rights for Black Caps and White Ferns matches in New Zealand for six years from 2026-27.
TVNZ currently holds the rights.
“Sport fans across New Zealand love their cricket, and we are delighted to be bringing Black Caps and White Ferns home internationals back to Sky and our valued customers,” Moloney said.
“We are committed to delivering this exciting content to New Zealanders in ways that work for them, including a free-to-air component.”
Television New Zealand responded to the announcement by saying it was urging the Government to look at “anti-siphoning measures”.
Other countries like Australia and the UK have such measures.
TVNZ chief executive Jodi O’Donnell said it loved having free-to-air cricket on its platforms.
“Free-to-air is powerful and having matches on TVNZ 1, DUKE and TVNZ+ has meant all New Zealanders have been able to participate in the sport. We strongly believe anti-siphoning measures are needed to protect this. Naturally we’re disappointed by this choice.”
Sky TV expects its financial performance in the second half of the year to improve.