Sky has seen its operating losses double after increases in the amount spent on programming costs and hardware costs, including for the Sky Glass and Sky Stream products. Accounts filed at Companies House showed a slight increase in revenues for 2023, which stood at £10.2 billion. This includes the direct-to-home business which saw revenues climb 1.6% to £8.5 billion.
Sky, which in 2022 reported a loss of £111 million, recorded £224 million for 2023. The cost of Premier League games increased because the timing of the Qatar World Cup – which took place in the winter – meant that more games were played in 2023 than might normally be the case. The costs paid by Sky for carriage on broadband and mobile networks also increased. There was also a write down of £1 billion on Sky’s operations in Italy and Germany, and a £327 million in impairment charge from the Paramount Global joint venture Sky Showtime.