Foxtel closed the financial year with paid subscribers growing 5% to 4.6 million, according to News Corp's latest results.
The increase was attributed to the growth in streaming subscribers driven by BINGE and Kayo, partially offset by lower residential broadcast subscribers.
Total Foxtel Group subscribers now sit at 4.723 million, up 4%. Streaming subscribers reached nearly 3.1 million.
Broadcast subscriber churn in the June quarter improved to 11.1%, the lowest level since 2016, compared to 13.8% in the prior year. Broadcast average revenue per user for the quarter increased 2% year- over-year to A$84.
Foxtel's contribution to global revenue was down because of the weaker Australian dollar against the US dollar. However, local earnings in Australia were higher.
EBITDA (earnings before interest, taxes, depreciation and amortisation) fell 4% to $78 million in the quarter due to a 8% negative impact from foreign currency fluctuations.
Adjusting for currency fluctuations, EBITDA was up 4% to $84 million, helped by higher revenue and lower marketing, employee and transmission costs, partially offset by higher sports programming rights costs, driven mainly by contractual increases across AFL and NRL.
Revenue of $501 million in the quarter fell $23 million, or 4%, compared with the prior year, due to a $37 million, or 7%, negative impact from a stronger US dollar.
Adjusted revenues of $538 million increased 3% compared to the prior year. Higher revenues from Kayo and BINGE, driven by increases in both volume and pricing, were partially offset by the impact from fewer residential broadcast subscribers.
Foxtel streaming subscription revenues represent about 29% of total circulation and subscription revenues in the quarter, compared to 23% in the prior year in both the fourth quarter segment results and the full year segment results for subscription video services.
News Corp CEO Robert Thomson described Foxtel's growth for the fourth quarter and full year a "remarkable turnaround" and a tribute to the team in Australia.
"That turnaround is underscored by Foxtel's imminent completion of a refinancing, which is expected to facilitate repayments of our outstanding shareholder loans beginning in fiscal 2024," he said.
Foxtel numbers:
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