Sky will be reporting its third-quarter results later this week, and analysts at a top investment bank believe there could be some bad news for investors in the broadcaster.
Credit Suisse has estimated that Sky will have added 30,000 net new customers in the UK in the first three months of 2017, down from 70,000 the year before.
The note also suggested Sky would report a “weak [quarter] across most territories”.
The UK performance, Credit Suisse analysts said, was likely hit by a strong competitive environment and weak consumer confidence.
Sky is waiting for approval from Ofcom and the Competition and Markets Authority for its takeover by Rupert Murdoch’s 21st Century Fox.
The regulators are required to report back to the government by 16 May.