Pay-television broadcaster Sky Deutschland secured €300 million ($393 million) in financing for continued growth, strengthening its financial position ahead of the tender for the domestic rights for German football’s Bundesliga in 2013-14 to 2016-17.
Sky pays €250 million per season for live pay-television rights for top and second-tier Bundesliga matches in the current cycle, from to 2009-10 to 2012-13. The rights are considered to be key subscription-driving content. The Deutsche Fussball Liga, the German football league, began the tender process for the next rights cycle last December and is aiming to complete it by May.
In its 2011 financial results, released yesterday, Sky revealed that it has passed three million subscribers for the first time. It added 359,000 subscribers in 2011, almost twice the net growth of 2010, and the highest net growth in the company’s history.
Brian Sullivan, Sky’s chief executive, said: “While we remain cautious in these uncertain economic times, we have a clear vision for continued growth: to serve existing customers and attract new ones by delivering great value, high-quality and exclusive content, new and exciting innovations and continued improvements to our customer service. The additional funding announced today will support us to further drive these efforts, to continue building an exciting service for our customers and a valuable business for our shareholders.”