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Being an SKT shareholder is only for the brave at the moment given current content owner conditions:
Nine Owned Stan Pays ‘Eye Watering’ Price For Content Leftovers
https://www.channelnews.com.au/nine-...ent-leftovers/
For those interested Nine (Aus) Annual report is out this morning. They own Stan (streaming service). Here are the relevant bits to Stan to read in context for Sky (or Neon more specifically):
• GROWTH IN ACTIVE SUBSCRIBERS TO 2.2M CURRENTLY
• STRONG USER ENGAGEMENT ~+20%1
• REVENUE GROWTH +54% COSTS UP 19%
• EBITDA (AND CASH) IMPROVEMENT ~$50M
• Acceleration of subscriber growth through second half, driven by strong programming line-up and boosted by impact of COVID-19
• Broadening of long-term content supply with increased commitment to Stan originals/co-productions, as well as completion of major output deal with NBCU
• Strong growth in total streams (>50%) and user engagement
Would be worth noting that Stan do make some of their own content as 'Stan Originals'
For more reading see: https://www.asx.com.au/asx/share-pri...ch/company/NEC
Thanks for sharing this info. Very interesting.
We are two weeks away from our own update - will be very interesting to see the progress. We know our streaming services will have done well - but how good did they do?
We feel that satellite churn will have reduced, but by how much?
Many questions, not long to wait.
At present, Stan represents about 11% of NEC revenue on a share price of around A$1.70 (market cap of around A$3bn). It's their first year to make a profit, and Stan is forecast to grow to 30% by 2024 so it's playing a big important role in the org. Stan has roughly 5x the amount of subscribers Neon has. There's a lot more competition in Aus for eyeballs I'd say than NZ. But that should provide a rough indication of Neon's value / potential value in the future.
Can't wait to see Sky's annual report in a couple of weeks.
Where's Ogg? Hope he didn't get banned again! Otherwise we won't know what's happening with the takeover.