Sky owner Comcast has revealed that its overall customer base across Europe decreased by 56,000 across 2020 due to coronavirus.
At the end of 2019 Sky had 23,994,000 customers in the UK, Ireland, Germany, Italy and Austria but by the end of 2020 that number had fallen to 23,939,000.
The pay platform suffered heavy customer churn in the early part of 2020 as the coronavirus pandemic hit household finances, but growth in the fourth quarter stood at 244,000, suggesting that the company is well-placed to rebound in 2021.
The loss in customers came during a period when streaming services such as Netflix and the newly-launched Disney+ added subscribers in their droves - with Sky's relatively high price point undoubtedly a factor.
The drop in subscribers and a reduction in ad spend saw the overall Sky revenue drop from $19.2 billion (£14 billion) in 2019 to $18.6 billion (£13.5 billion), a fall of 3.3%.
Again, a strong Q4 performance in the build-up to Christmas hinted at a rebound, with year-on-year growth in the quarter from $5.04 billion (£3.67 billion) to $5.21 billion (£3.79 billion).
Follow us on Twitter @SMEntsFeed and like us on Facebook for the latest entertainment news alerts.
