Sky back in profit ahead of cutting 900 UK jobs

Thursday 02 October 2025 9:48 am
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Thursday 02 October 2025 9:49 am

Media and telecoms large Sky recovered from shedding virtually £800m to return to the black in 2024 earlier than making ready to chop lots of of jobs.

Sky, which was purchased by the US media firm Comcast for £30bn in 2018, has posted a pre-tax revenue of £253m for its newest monetary 12 months.

The full comes after Sky fell to a pre-tax lack of £773m in 2023.

New accounts filed with Corporations Home additionally present its income elevated from £10.2bn to £10.3bn.

Sky’s direct to client income rose from £8.5bn to £8.7bn and its content material gross sales edged up from £527m to £529m.

Nevertheless, its promoting income slipped from £1.2bn to £1.1bn.

Sky mentioned its direct to client income was greater due to worth will increase.

Sky has lower 3,000 jobs since 2023

The outcomes have been revealed after Metropolis AM reported in September that Sky is about to chop round 900 jobs within the UK.

The corporate is shifting its focus from new product launches to enhancing current companies and competing with US streaming giants.

Round 600 roles are anticipated to go within the group’s operations with the remaining employees probably redeployed, relying on the end result of a session.

Sky employs roughly 23,000 individuals within the UK and has already lower round 3,000 roles since 2023, primarily in conventional positions akin to satellite tv for pc dish installers, as the corporate has shifted from TV through satellite tv for pc to broadband-based companies.

The enterprise plans to take a position extra in its personal content material, together with manufacturing at its new Sky Studios complicated in Elstree, to bolster its providing in opposition to massive US rivals.

Sky is about to lose the unique proper to broadcast HBO reveals, akin to Sport of Thrones and The White Lotus, on the finish of 2025.

Nevertheless, it has secured a long-term settlement to supply HBO content material through Warner Bros Discovery’s HBO Max streaming service.

The job cuts additionally coincide with broader strategic adjustments, together with the scrapping of Sky’s flagship enterprise present, Enterprise Stay, simply months after long-time presenter Ian King left the programme. 

Sky mentioned enterprise and economics protection will proceed throughout its TV programming, with current anchors redeployed.

Enterprise Stay axed

In August, Metropolis AM solely reported that Sky Information had cancelled its each day Enterprise Stay information programme, leaving the channel with out a stand-alone enterprise programme for the primary time since 2007.

The transfer is the newest a part of a significant strategic overhaul introduced by boss David Rhodes in January, which has seen the channel shift its focus away from reside and rolling information to supply extra “premium video” in addition to newsletters and podcasts.

The brand new technique – known as Sky Information 2030 – is an effort to diversify the broadcaster’s income streams from its conventional sponsorship and promoting avenues, to extra profitable paths like subscription fashions and ticketed occasions.