Lol, but you are forgetting the amount of money they have paid out for things like the Golf and Football in the UK; the cost of rights to the SPL are literally pennies in comparison with major leagues such as La Liga and the Premiership.
LFC TV will be a loss making channel for Setanta, and part of a desperate attempt to get more subscribers, as with the forthcoming Arsenal TV.
LFC TV doesnt interest me, as an E-Season ticket holder, I can watch it streamed inclusive in my E-Season package, but I doubt I will watch much anyway, most club channels are not worth anything.
Liverpool are getting just £3 million out of the deal (over 3 years), which lets faceit, is nothing.
Setanta imho are totally out of their depth, they are a company who are used to showing localised leagues/sports with very small fanbases and revenue streams, who are used to making a few million turnover a year, and all of sudden, in a bid to get bigger, they have paid over £400 million for FA Premier League rights thanks to the competiton commission, and hundreds of millions more for rights to competitions like the US PGA etc...
They have hammered their revenue stream via Virgin Media, the maximum they can get out of a customer now is less then £2 a month. There is less then 1 million people with DTT boxes that can handle the CAM service they run. With Sky, a LOT of people subscribe to Sky Sports, basically because its part of the Sky World package, many hardly even watch it. The majority of Sky Sports subscribers wont be interested in subscribing to Setanta.
And for the pure football fans, lets see how good a deal they will get:
Setanta (basically the same price as Sky Sports) - 46 second rate Premiership matches.
Sky Sports - 92 top draw Premiership matches, they get the first choices of the matches they want to screen.
Basically, Setanta have gone from a company that is happy to make profits of a few million and recently filed a net operating loss in their US operations of $3 million, to a company that has a £400 million bill to pay to the FA, alongside countless other contracts.
The revenue from advertising atm is stupidly low, because they dont have enough subscribers.
As much as they like the pretend they are happy with the number of subscribers they have gained upto August, it is blatently obvious that they have hit desperate times. They reduce the price to £10.00 per month, remove the 12 month contract (yet long standing and loyal subscribers are still subject to the 12 month contact and £15.00 a month charge), and now they are advertising with quotes like "real football fans will have Setanta Sports" which is being viewed by many football fans as patronising to say the least.
They are going down, and the sooner, the better imho.
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