Oh yes they must invest, and there are cycles of these kinds of...

Oh yes they must invest, and there are cycles of these kinds of upgrades. Nothing unexpected there.

Just pointing out that the supply issues which has caused shareholders to fund the VTV service (which was supposed to be turned off months ago) is an unfortunate cost which decimated FCF this past 6 months.

So one can only hope that the new box (and pod - which I think has more potential as it caters for those who don't want a dish on the roof) exceeds expectations to make it all worthwhile.

It needs to demonstrate a further reduction in STB churn and/or produce STB growth over the longer term to justify the delays and expense. Let's see.

I think the new tech is very good (a big step up from the current MYSKY boxes). I am still not sure about how popular they will be though given the $200 fee to get the box (though Sky still own it).

Furthermore, the $15 monthly fee which allows you to record is optional in the new boxes. If the box is as good as they say, and the On Demand feature works very well with a slick, modern UI etc...then many people may not need the ability to record shows and will not pay the $15/month 'MYSKY fee'.

I estimate sky currently generate around $70M of revenue a year with the MySky fee. So that is something to keep an eye on because the current MYSKY rental fee for a money for jam. Allowing STB customers to opt out of this fee without making any other changes to pricing/packaging has the potential to be an own goal (from a shareholder perspective).