Foxtel and Kayo have seen a significant increase in subscribers during Q2 of their 2023 fiscal year, according to the latest report from News Corp.

The Australian pay-tv network has experienced a 10% YoY increase in subscribers across all platforms, with a total of 4.41 million, of which 4.33 million are paid.

The streaming platforms, which include Kayo Sports, Binge, and Foxtel Now, saw a 25 per cent YoY increase in subscribers, totalling 2.76 million, of which 2.68 million are paid, which represents 62% of Foxtel’s total subscribers, a 6% increase from the previous year.

Kayo Sports saw an 11%  increase in subscribers, now totalling 1.14 million paid subscribers, with the growth in subscriptions being attributed to the increasing popularity of sports streaming services, with more and more people turning to digital platforms to access their favourite sports content.

While residential and commercial broadcast subscribers decreased by eight per cent, adjusted Q2 revenue for the subscription video services segment grew by 3%, which shows that the growth in streaming subscriptions is offsetting the decline in traditional broadcast subscriptions.

Adjusted Q2 segment earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 16%, indicating that the increase in subscribers has led to strong financial performance for Foxtel and Kayo.

The increase in subscribers for Foxtel and Kayo highlights the growing demand for streaming services, especially for sports content as more and more people seek out flexible, affordable and convenient ways to access their favourite content.