Sky reveals 29% annual rise in AdSmart revenues

Sky reveals 29% annual rise in AdSmart revenues

Sky has credited a 29% year-on-year rise in revenues for its targeted advertising platform AdSmart for driving overall UK and Ireland ad revenue growth of 6%.

AdSmart registered 3.2 billion impressions in the year ended 30 June and 74% of advertisers using it had either not used TV or worked with Sky before. 

The media company did not disclose actual revenue figures for AdSmart, which allows highly targeted ads by demographic and location.

However, its UK and Ireland ad revenues came in at £540m for the year, up from £508m.

With its other markets in Europe factored in, the company is on course to surpass a billion pounds a year in advertising income in the near future, after registering 10% growth to £917m.

One of the tailwinds for AdSmart was Virgin Media agreeing in June 2017 to allow Sky Media-represented channels on its platform to use AdSmart to target its nearly 4 million TV subscribers.

Sky’s overall revenues climbed by 5% to £13.6bn and its pre-tax profit rose 18% from £691m to £815m.

Its share price rose slightly this morning to £15.09, just above the £14.75 bid from Comcast that Sky’s board of directors has recommended. Investors are waiting to see if Fox will raise its bid from its current level of £14.

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