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The Sky Network (ASX:SKT) share price is on watch after NBCU deal

The Sky Network Television Limited (ASX: SKT) share price is on watch after the expansion of the company’s deal with NBCUniversal.
The post The Sky Network (ASX:SKT) share price is on watch after NBCU deal appeared first on The Motley Fool Australia. –

Family of four sitting on couch watching Netflix

The Sky Network Television Limited (ASX: SKT) share price is on watch this morning following an expansion of the company’s agreement with NBCUniversal (NBCU). The latest multi-year deal involves Sky Studios and Universal Studio Group, which encompasses Universal Television as well as other studio brands.

The Sky Network share price has been trading flat since mid-March. Shares in the New Zealand broadcasting and streaming company are currently 16 cents apiece.

Let’s look closer at this morning’s announcement from Sky Network.

New agreement

The new deal between Sky Network and NBCU will give Sky Network customers access to NBCU-owned channels, movies, and series.

It will see big-name channels such as E! and CNBC offered on Sky Network’s platforms and free-to-air broadcasting. As well as NBCU’s Universal TV ­– a channel dedicated to crime and drama.

Sky Network also stated the deal with NBCU will allow it to deliver “thousands of hours of blockbuster films and hit television series”. These include new series such as Young Rock, The Equalizer, and We Are Lady Parts. As well as NBCU feature films Trolls World Tour, The Croods: A New Age, the Bourne franchise, Pitch Perfect, and Back to the Future.

Also included in the deal will be Sky Studios’ original productions, although details of their involvement are scarce.

Commentary from management

Sky Network’s CEO Sophie Moloney commented on the company’s excitement over the agreement’s expansion.

With an amazing stream of new blockbuster movies and TV series to come, an incredible collection of popular library content, a brand-new channel for our customers in Universal TV and continued access to E! and CNBC, we’re really excited by this deal. Not only does it strengthen the depth and breadth of our offering, but it also secures more of the content that our customers love and value. Having tested the channel concept through our Sky Nation panel, customers are excited to be welcoming Universal TV to Sky.

Sky Network Television share price snapshot

2021 has been a productive year on the ASX for Sky Network.

The broadcaster’s share price is up 6.67% year to date. It’s also up by 14.29% over the last 12 months.

The company boasts a market capitalisation of around $279 million, with 1.75 billion shares outstanding.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post The Sky Network (ASX:SKT) share price is on watch after NBCU deal appeared first on The Motley Fool Australia.

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