Foxtel sees rise in subscribers, but sporting costs drain the coffers

Foxtel enjoyed a modest revenue increase over the final three months of 2023, with Kayo and BINGE both adding an impressive number of new subscribers – however the ever-leaping cost of sporting rights has seen the company take a 14% earnings hit.

Foxtel boasted over 4.3 million overall subscribers at the end of 2023, remaining relatively flat compared to the end of the previous year, due to shedding residential broadcast subscribers while gaining Kayo and BINGE customers.

Kayo had 1.183 million subscribers (1.173m paid) at the end of 2023, up from 1.136 million (1.126 paid) at the end of 2022. BINGE passed 1.5 million subscribers (1.471m paid), while Foxtel Now dropped from 177,000 payers to 150,000 – no doubt due to the migration to BINGE – which offers similar programming.