Foxtel earnings jump

Company reports a first-half net profit of $17 million

Paybox Foxtel has seen its first half pre-tax earnings jump by a boffo 85% to $A102 million ($81 million) on the back of a 15% surge in subscribers and strong take up of additional services such as the iQ PDR.

The feevee provider reported a first-half net profit of $17 million vs. a loss of $18 million in the previous year.

Result reps a huge turnaround for Foxtel, which has only recently gone into the black as feevee in Australia, which launched more than 10 years ago, saw slow take-up at first. Recently, however, the paybox has attracted subs with a mix of sport and original drama such as “Love My Way.”

Foxtel should further benefit from a recent deal with the Seven and Ten networks to screen the Australian Football League, a popular ratings draw Down Under for which it inked this month.

Paybox also announced that it is the first Aussie broadcaster to go 100% digital; analogue signal was switched off on Feb 1.

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