Discovery Q3 revenues up, subs down
November 2, 2017
Discovery Communications has posted its financial results for the third quarter ended September 30th 2017.
“Advertising and global distribution revenue growth helped to drive solid third quarter results for Discovery,” said David Zaslav, President and CEO, Discovery Communications. “We continued to focus on investments to strengthen our worldwide IP portfolio as well as strategic partnerships to nourish global superfans across every screen, platform and service. 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.”
Third quarter revenues of $1,651 million increased 6 per cent compared to the prior year, as 11 per cent growth at International Networks and 4 per cent growth at US Networks to $823 million were partially offset by a decline at Education and Other.
Distribution revenue was driven by increases in affiliate fee rates and increases in content licensing revenue, while advertising revenue grew due to higher pricing. Discovery said subscribers to its portfolio of networks dropped 5 per cent during Q3.
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 attributed to higher ratings in Southern Europe, Latin America and other regions.