Discovery: “Multiplatform strategy showing potential”
May 5, 2016
Discovery Communications has reported financial results for the first quarter ended March 31st.
“Discovery’s business momentum continued to build in the first quarter with strong viewership across our worldwide portfolio of brands and platforms. Our unmatched global distribution network, diverse, much loved brands, and unique flexible business model yet again produced strong results, particularly in the US,” said David Zaslav, President and CEO of Discovery Communications. “We have also made progress in reaching consumers across the world’s 7 billion screens with a robust multiplatform strategy that is increasingly showing potential to drive growth in the future. Given the long-term growth profile associated with the investments we’ve made, I remain optimistic about our overall operating and financial prospects, the opportunities ahead, and our potential to deliver significant shareholder value.”
First quarter revenues of $1,561 million increased 2 per cent compared to the prior year, as 8 per cent growth at US Networks was partially offset by a 3 per cent decline at International Networks, primarily due to currency effects, and lower revenues at Education and Other.