The Sky Network Television Limited (ASX: SKT) share price is gaining this morning following the pay-TV and free-to-air network’s latest partnership with the NRL and New Zealand Rugby League (NZRL). At the time of writing, Sky Network shares are up 3.23%, trading at 16 cents.
Despite earnings before interest, tax, depreciation, and amortisation (EBITDA) increasing in the latest half-year result, the company’s share price has jostled between 15 cents and 17 cents since late February.
Let’s take a look at this morning’s news.
Try time with NRL and NZRL
In an announcement to the market this morning, Sky Network has landed a partnership with Australia’s NRL and New Zealand’s NZRL through to the end of 2027.
The agreement will see Sky continue to provide sports fans with every NRL and State of Origin game. Additionally, all NZRL-run matches involving the Kiwis and the Kiwi Ferns will stream via the company’s service.
A point of difference from previous agreements is the new digital aspect. According to Sky Network, this deal involves a digital partnership with the NRL and NZRL in a bid to deliver content that is convenient for viewers.
Growing the game
As part of the agreement, Sky Network will work closely with the NRL and NZRL to grow the game of Rugby League in New Zealand.
The focus will be on encouraging the next generation of league watchers and players. This push will span from grassroots to high performance and have an emphasis on the women’s game.
Sky Network Chief Executive Sophie Moloney commented on the partnership:
We love Rugby League and so do many New Zealanders. More than 1.1 million New Zealand fans have tuned into the NRL this year already.
In 2020 League lovers and occasional sport fans alike enjoyed 276 matches across NRL, the Kiwis and Kiwi Ferns, State of Origin, the NSW and QLD Cups and the National Premiership Men’s and Women’s.
Sky Network share price recap
The Sky Network Television share price has been unable to outperform the S&P/ASX 200 Index (ASX: XJO) so far this year.
At the time of writing, the company’s share price is up 3.2% year to date. This compares to the benchmark index’s return of 11.1% over the same period.
Sky remains in the small cap basket with a market capitalisation of $279 million.
The post Sky Network (ASX:SKT) share price flies following NRL partnership appeared first on The Motley Fool Australia.
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Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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.
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