Strong quarter for Scripps

Chopped, from Scripps's Food Network

International broadcaster Scripps Networks Interactive saw revenues increase 10% in the fourth quarter of 2011.

The US-based company posted revenues of US$553 million (€417 million). Ad revenue was up 11% year-on-year to US$394 million while affiliate fee revenue increased 5.7% to US$147 million.

By channel, Food Network generated most revenue at US$204 million (up 15%), followed by HGTV at US$191 million (up 8.1%) and Travel channel at US$67.2 million (down 1.4%).

Last August, Scripps acquired a 50% stake in UK channels group UKTV, which accounted for a 6.1% increase in fourth quarter costs. It said costs would continue to increase in 2012 as it expands its international business and continues to develop its digital and interactive initiatives.

“The high level of engagement our focused lifestyle networks have created with media consumers, and the value our television and interactive brands deliver to advertisers as preferred marketing platforms, is reflected in the company’s strong fourth-quarter operating results,” said Kenneth Lowe, chairman, president and CEO of Scripps Networks Interactive.