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Kudelski margins slide on cord cutting – patents rescue US results

Despite sweeping up some major patent license agreements this year, Swiss content security firm Kudelski Group saw a dramatic 80.2% drop in operating income to $6.7 million for the first half of 2017 – as a direct result of declining subscriber numbers in the traditional digital TV business. Its aggressive pursuit of patent deals has won Kudelski and its subsidiaries the signatures of AT&T, Arris, Scripps Networks and Turner Broadcasting System in the past months, helping it grow revenues for the period by 12.5% to $552 million, while reporting a net loss of $5.7 million. Kudelski points to the saturation of traditional pay TV offerings in developed markets, particularly Europe, as the primary factor in its poor performance – with…

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