Both Viacom and Time Warner reported solid 1Q earnings last week. Viacom's profit rose 5% YOY to $502mln. Revenues grew 1% to $3.17bln, thanks to higher affil fees and ad revenues, which were partially offset by declines in filmed entertainment. Due to higher media networks revenue, operating income rose 3% YOY to %872mln. Media networks revenue increased 6% to $2.38bln. Domestic ad revenue was up 2% and global ad revenue increased 3% to $1.12bln. “Domestic ad was a bit light. The positive, however, was that this was more than offset by stronger affiliate revenue,” analyst Marci Ryvicker with Wells Fargo Securities wrote in a research note. TWX, on the other hand, saw its quarterly income reach $1.3bln from $754mln a year ago. At HBO, subscription revenue increased 8% YOY mainly due to higher domestic rates and the consolidation of HBO Asia and HBO South Asia. Revenues at Turner rose 5% YOY to $2.6bln, helped by 7% growth in subscription revenues and 5% growth in ad revenues.

The Daily

Subscribe
Friday–June 11

5 Questions: Spectrum Mobile Three Years After Its Debut

With Spectrum Mobile celebrating its three-year anniversary this month, we caught up with chief mobile officer Danny Bowman to chat about its trajectory.

Read the Full Issue
The Skinny is delivered on Tuesday and focuses on the cable profession. You'll stay in the know on the headlines, topics and special issues you value most. Sign Up

Calendar

Jul 16
Diversity List – 2021 Nominations Due: July 16, 2021
Sep 10
Most Powerful Women – 2021 Nominations Due: Sept 10, 2021
Dec 7
Most Powerful Women CelebrationSave the Date!
Full Calendar

Jobs

Seeking an INDUSTRY JOB?
VIEW JOBS

Hiring? In conjunction with our sister brand, Cynopsis, we are offering hiring managers a deep pool of media-savvy, skilled candidates at a range of experience levels and sectors, The result will be an even more robust industry job board, to help both employers and job seekers.

Contact John@cynopsis.com for more information.