Manchester United plc (NYSE:MANU) Q1 2020 Earnings Conference Call - Final Transcript

Nov 18, 2019 • 08:00 am ET


Manchester United plc (NYSE:MANU) Q1 2020 Earnings Conference Call - Final Transcript


Loading Event

Loading Transcript

Edward Woodward

match minutes played by graduates. Across the Premier League, our graduates are playing 58% more minutes, than those from any other club. Our Academy graduates scored or assisted 31 of the first two goals who scored so far this season. And finally we are shortly approaching a milestone 4,000 first-team consecutive competitive game featuring an Academy player in the Matchday squad.

We know our Academy is a strong competitive advantage, as an area that we'll continue to invest in as is the heart of the club. I want to reiterate that our ability to make investments we need to be successful on the pitch is underpinned by continued strong financial performance. Though season today, we've had a mixed starts of our Premier League campaign, in Europe, we've qualified for the Europa League knockout stages with two games to spare. We've also progressed to the quarter-finals of the League Cup, well our women's team has also started their first season in the Women's Super League season in competitive form.

Shifting to Broadcast developments. Cumulative live audiences for the Premier League was up 10% from pre two seasons ago to last season. Moreover combined live audience season to-date in the UK are up 17%. A home match on October 20th, through Sky's third biggest Premier League audience of all time. We remain very optimistic for continued increases in global football broadcast rights as demonstrated by recent news, the CBS has acquired the UEFA Club competitions in the US through to June 2024. According to Bloomberg, this was an estimated 50% increase from the prior US contract and will feature select games free-to-air. We're also looking forward to Amazon's Live Premier League broadcast which will commence in the upcoming quarter, and we know that the platform will also produce a highlight show.

Turning to some industry news. As many of you will be aware, FIFA recently announced that the -- of the intention -- sorry, the first iteration of the revamped Summer Club World Cup tournament will take place in China in June 2021. Currently the annual tournament comprises only seven teams and is played in December, while the revamp tournament will expand to 24 teams and take place every four years replacing the Confederations Cup.

Finally, a brief update on FIFA's transfer task force. After a long consultation period, in October, the FIFA Council approved a series of key steps to protect the integrity of the system and prevent abuses. In particular there'll be limit from lines of players trying to have a material impact on us and the introduction of major reform around agents, including requiring all agents to be formally licensed and include educational measures. Restrictions around multiple representation to avoid conflicts of interest and a cap on agents commissions.

I'll now hand you over to our Group Managing Director, Richard Arnold, who will update you on the key business activities. Thank you.

Richard Arnold

Thank you Ed. As Ed referenced, our commercial strength underpins our ability to fund our continued growth,