Foxtel paid subscribers up 10% to 4.3 million

Chris Pash
By Chris Pash | 10 February 2023
The Last of Us on Foxtel.

Foxtel closed 2022 with paid subscribers at more than 4.3 million, up 10% on the December quarter the year before, according to News Corp's latest results.

The jump was mainly due to growth in streaming platforms BINGE and Kayo, partially offset by lower residential broadcast subscribers.

Broadcast subscriber churn in the December quarter improved slightly to 12.9% from 13%. Broadcast ARPU (average revenue per user) for the quarter increased 2% to A$83 (US$55).

But Foxtel’s contribution to News Corp fell because of a strengthening US dollar making Australian dollars less valuable when reported in the US.

Foxtel revenue was down 7%, or $US36 million, to $462 million, due to a $52 million, or 10%, negative impact from foreign currency fluctuations.

Without this, revenue would have been up 3% to $514 million.

Higher revenue from Kayo and BINGE, driven by increases in both volume and pricing, and higher commercial revenues, were partially offset by the impact from fewer residential broadcast subscribers and lower advertising revenues.

Foxtel Group streaming subscription revenues represented about 26% of total circulation and subscription revenues in the quarter, as compared to 19% in the prior year.

Segment EBITDA (earnings before interest, taxes, depreciation, and amortisation) in the quarter increased $4 million, or 5%, compared with the prior year, reflecting a $10 million, or 11%, negative impact from foreign currency fluctuations.

The growth was partially offset by higher sports programming rights and production costs, driven by contractual increases and enhanced digital rights, as well as higher entertainment rights costs due to an increase in content availability. Adjusted Segment EBITDA increased 16%.

foxtel subscribers dec q 2022

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