Viacom Q2 revenues drop
May 1, 2015
Viacom has reported a 3 per cent fall in quarterly revenue, caused by lower revenue from its filmed entertainment business and a decline in domestic advertising revenue due to weak ratings for its TV programmes.
Net loss attributable to Viacom was $53 million for the second quarter ended March 31st, compared with a profit of $502 million,a year earlier.
Revenue at the owner of cable networks MTV, VH1 and Comedy Central and movie studio Paramount Pictures fell to $3.08 billion from $3.17 billion.