I was out all day yesterday so I missed this when it came in but news that Lightbox have done a joint venture with Coliseum Sports Media is an important development for TV viewers in New Zealand.
Sky have continued to maintain that sport being delivered over the internet isn’t something they believe people want. Despite having had the opportunity to jump into the market head on, Neon, their still-yet-to-launch-in-December streaming service won’t carry any of the sport content that Sky holds the rights to.
What I find fascinating about Lightbox is that having once had a monopoly themselves, now appear to be gunning for some of Sky’s market share. The deep-pocketed owners are best placed to take it to sky and while we’ve seen the intention to take them on in the television space, bidding and winning content deals, this foray into sports should send a cold chill down every Sky investor’s spine.
The last six months have seen Spark launch Lightbox and with it, seen an increase in their share price by 15%. Sky Television on the other hand have announced a lack lustre streaming service which is still yet to launch with less than a week until Christmas. In contrast, Sky’s share price has fallen 14%.
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