Sky TV has had a bad season as the gambling advertising ban cut into the operator’s ad revenue during the third quarter. Comcast which owns and operates the Sky Tv said that they witnessed an 18.2% year-on-year decrease in gambling advertising revenue for the Q3 to September 30.
Sky TV’s Advertising revenue slipped from $545m (£424.5mm/€490.1m) in the third quarter of 2018 to $446m in the third quarter of 2019.
Commenting on the drop in advertising revenue Comcast in its report for the third quarter said the decline “reflects an unfavorable impact from a change in legislation related to gambling advertisements in the UK and Italy, as well as overall market weakness.”
Sky TV gets about 10 percent of its revenue from advertising; its 3rd quarter revenue’s contribution to its overall revenue declined 2 percent this year when compared with the same period the previous year.
Last year in December, The Industry Group for Responsible Gambling (IGRG) introduced the whistle-to-whistle ban. Following the ban, no gambling advertising can be shown on pre-watershed sports from five minutes before a sporting event begins until five minutes after the event finishes.
The gambling advertising ban came into effect in the UK on 1 August 2018.