Discovery Q2 revenues up 1%
August 6, 2019
Discovery has reported Q2 revenues of $2.8 billion (€2.5bn) increased 1 per cent compared with the prior year’s quarter, as a 5 per cent increase in US Networks revenues was partially offset by a 3 per cent decrease in International Networks revenues and a significant decrease in Other revenues due to the sale of the education business.
Excluding the impact of foreign currency fluctuations, total Company revenues in the quarter increased 4 per cent and International Networks revenues increased 3 per cent.
Additional Q2 highlights include:
- No. 1 most watched TV portfolio for women 25-54 in the US in June 2019;
- Concluded a robust and record advertising Upfront, delivering pricing and volume increases across the portfolio;
- Completed the UKTV Lifestyle Business joint venture unwind transaction in which the Company formally received control of lifestyle channels Really, Home and Good Food
- Launched nine additional networks on YouTube TV in the US and signed a multi-year live and on demand carriage agreement with fuboTV.
“We delivered another quarter of strong operating and financial performance, with the benefits of the Scripps Networks acquisition flowing through all areas of our global business, while also accelerating our pivot to digital and direct-to-consumer offerings with IP that powers people’s passions,” said David Zaslav, President and Chief Executive Officer of Discovery. “With an exceptional team in place, strong top-line performance and a healthy balance sheet, we are confident in our ability to continue executing on our strategic priorities to drive long-term growth and shareholder value.”