Travel Channel helps Scripps to record revenues
August 3, 2012
By Chris Forrester
US-based Scripps Networks is on a roll. Revenues grew 13 per cent to $601 million. Q2 net income rose 84 per cent to $142.4 million ($77.4m same period last year). The company told analysts August 2nd that its forward bookings for this coming season in terms of advertising sales topped the $1 billion mark for the first time.
CEO Ken Lowe said: “Food Network and HGTV consistently aggregate record numbers of engaged, passionate viewers, and we’re creating considerable momentum at the Travel Channel, where our creative team is working to define the brand and the content genre,” Lowe said. “At Cooking Channel and DIY Network we’re seeing very strong double-digit growth both in viewership and in revenues as we appeal on a deeper level to cooking and home improvement enthusiasts who choose to watch our premium-tier channels.”
As for the performance of Scripps’ channels, revenue was up 17 per cent at Food Network to $218 million, at HGTV revenues rose 8.4 per cent to $205 million. At the recently acquired Travel Channel, revenues rose 4.9 per cent to $73.8 million; at DIY Network, revenues grew 16 per cent to $33.7 million, while at the Cooking Channel, revenues were up 41 per cent to $22.4 million.