Comcast Corporation’s ( CMCSA Quick Quote CMCSA - Free Report) European pay-TV provider Sky announced the launch of a new streaming TV, which puts its set-top box functionality into the device and is connected by WiFi rather than needing a satellite dish. The product will be launched in the UK later in October, followed by other markets in 2022. Sky Glass, which integrates Comcast’s technology platform, will not require a Sky Q set-top box or a satellite dish to access its full suite of services. A playlist feature will allow users to access their favorite content from across Sky, Netflix ( NFLX Quick Quote NFLX - Free Report) , Disney’s ( DIS Quick Quote DIS - Free Report) Disney+, Peloton, Spotify and Amazon among others in a single place rather than having to jump from one app to another to search for it. Sky Glass also includes voice control and motion technology, meaning the TV will turn on when consumers pass in front of it. The product comes in five colors and three sizes: small 43 inches, medium 55 inches and an enormous 65 inches. At the moment, it will only be available for purchase with a Sky Ultimate TV Package, totaling £39 ($53) per month for the smallest screen, which comes down to £13 ($17.60) per month for the screen and £26 ($35) for the Sky carriage package (which includes traditional cable networks such as Nickelodeon, Dave and E!). The medium option will be an additional £4 a month and the largest will be an extra £8. Sky Glass can also be bought outright for £649, £849, and £1,049. Sky Glass, which can be turned on by saying “Hello Sky,” has a 4K Ultra HD screen that shows over 1 billion colors. Sky plans to launch a high spec 4K smart camera in 2022 that works seamlessly with Sky Glass and will unlock a range of exciting new services for the whole family that will allow chatting, gameplay, working out, and the sharing of entertainment directly through the Sky Glass platform. Comcast’s Efforts to Promote Sky Expected to Aid Top Line
Comcast has been boosting its efforts to integrate its operations with Sky, which it acquired in 2018 in an effort to aid its top-line growth. In second-quarter 2021, Sky’s revenues increased 28% year over year to $5.2 billion.
In July, this Zacks Rank #3 (Hold) company announced the availability of NBCUniversal’s streaming service, Peacock, for Sky’s 20 million subscribers across Europe at no additional cost. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. In August, the company launched Sky Q IP Box in Germany, allowing broadband users to access a number of terrestrial channels, on-demand box sets and streaming apps. In the UK, Sky’s Now TV streaming service has already been offering various types of passes for different content, such as entertainment and sports programming. Comcast has also partnered with ViacomCBS ( VIAC Quick Quote VIAC - Free Report) to launch a streaming service called SkyShowtime that will be available in 20 European markets, including Spain, Denmark, Portugal, the Nordic countries, Netherlands, and Central and Eastern Europe. The companies have reached a deal that makes Paramount+ free to Sky Cinema subscribers in Sky markets including the UK, Switzerland, Italy and Germany. The agreement also extends to the broadcast of ViacomCBS channels on Sky’s pay-TV systems. We note that Comcast remains well poised to cater to the increasing demand for streaming services on the back of the growing popularity of Peacock streaming services, which gained significant traction within a short span and is a key catalyst in driving broadband sales. In June, Peacock was made available on Samsung Smart TV, which is expected to expand Peacock app’s reach to households nationwide. Comcast’s ad-supported streaming service had 42 million sign-ups until March in the fiscal first quarter of 2021.