Scripps Networks Interactive’s first quarter revenue has been boosted by the performance of Polish broadcast subsidiary TVN and by a strong showing from domestic US advertising.
Scripps’ operating revenues grew by 24.1% to reach US$816.9 million (€716 million) in the first quarter, with segment operating profit rising by 31.7% to reach US$338.4 million.
The inclusion of TVN in the results helped boost advertising revenues by 31%, with US domestic networks advertising growing by 14%.
In a conference call to discuss the results, Scripps chairman, president and CEO Kenneth Lowe said that TVN had “delivered an outstanding ratings quarter” and described Scripps’ acquisition of the Polish company as “transformative”. He said Scripps had “a number of initiatives in the pipeline” to build on TVN’s success and “become even stronger”.
Content initiatives for TVN, building on the locally-produced version of DIY Network’s Kitchen Crashers, include House Crashers, to premiere later this summer.
UK multichannel broadcaster UKTV, in which Scripps has a 50% stake, saw revenues grow by 13% and operating profits rise by 10% in local currency.
19 October 2020 @ 12:30:00 UTC