Discovery, the multichannel programmer, has reported financial results for the quarter ended September 30th 2019.
Total Company revenues increased 3 per cent to $2.6 billion (€2.3bn), whilst US advertising revenues increased 3 per cent and distribution increased 6per cent; International advertising revenues increased 10 per cent and distribution increased 8 per cent , ex-FX.
David Zaslav, President and Chief Executive Officer of Discovery said: “Discovery once again delivered strong financial results across our portfolio, generating healthy revenue growth in the US and internationally, and significant operational efficiencies from our ongoing transformation efforts. We also made progress in the buildout of our digital ecosystems that leverage our owned programming and brand strength. With a solid financial profile and strong balance sheet, we are able to invest meaningfully in our business and create additional value for shareholders.”
Operational highlights included:
– Food Network Kitchen, a direct to consumer product with live, interactive cooking instruction, and a collaboration with Amazon, launched in the US.
– Discovery was the No. 1 most-watched TV portfolio in the U.S. among women 25-54 for the last six months.
– TLC delivered another record-breaking quarter as the No. 1 ad-supported cable network in primetime among women 25-54 and women 18-49, with delivery up 16 per cent and 10 per cent, respectively.
– Share of viewing in the top-10 international markets increased 3 per cent on average in the third quarter.