Economy

Discovery Q3 revenues up, subs down

Discovery Q3 revenues up, subs down”

The owner of major cable networks like Discovery and TLC said total revenue of $1.65 billion was up 6% from the year-earlier quarter.

In the USA, this came against slight total audience gains - up 2% in all viewers, but with a 4% drop in the narrower 18-49 demographic, a key metric for many national TV advertisers.

Scripps also reported its latest financials on Thursday, with third-quarter adjusted segment profit of $303.4 million marking a decrease of 4.5 percent from the year-ago period.

Discovery Communications posted modest third-quarter gains led by its global portfolio, while Stateside networks grew more modestly and saw continued subscriber losses.

Revenue at the company's US networks rose 4%, to $823 million, largely due to a 6% in revenue from distribution and a 3% increase in revenue from advertising.

Overall distribution revenues from pay TV providers were up 9.3% to $881 million, while US fees 5.5% were higher to $402 million and worldwide gained 12.7% to $479 million. "Additionally, we are excited by the prospects for a combined Discovery and Scripps as we continue to make progress on the transaction to create a global leader in real life entertainment".

Total U.S. Discovery channel subscribers were down 5% in the period, versus a 4% drop in the the second quarter and a 3% decline in the first quarter. Meanwhile, advertising revenue growth was due to higher pricing and continued monetization of Discovery's TV Everywhere platform.

Revenue from distribution, excluding the impact of currency effects, grew 9 per cent, mostly due to higher affiliate rates in Europe and Latin America. Advertising revenues, excluding the impact of currency effects, increased 5%, mostly due to higher ratings in Southern Europe, Latin America, and other regions.



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