Discovery, the multichannel programmer, has reported financial results for the quarter and year ended December 31st 2020.
Total revenues for 2020 were $10.6 billion (€8.7bn), down 4 per cent. US advertising revenues decreased 5 per cent and distribution revenues increased 4 per cent (or increased 3 per cent excluding certain non-recurring items recognised in the second quarter); International advertising revenues decreased 12 per cent and distribution revenues decreased 3 per cent.
Q4 revenues of $2.8 billion were flat compared to the prior year quarter. US advertising revenues were flat and distribution revenues increased 5 per cent; and international advertising revenues decreased 1 per cent and distribution revenues decreased 4 per cent.
David Zaslav, President and Chief Executive Officer of Discovery said, “2020 was a year of change, challenge, and opportunity, and our company has shown incredible resilience, creativity and focus as one global team. We finished with strong operating momentum and great command and control across our global businesses, uniquely positioning us to balance our core and next generation businesses.”
“We are off to a promising start in 2021 with the successful launch of discovery+. We have now surpassed 11 million total paying direct-to-consumer subscribers globally and are on pace to be at 12 million by the end of the month, underscoring the value of the investments we’ve made in content, beloved personalities and brands with huge consumer appeal, supported by industry-leading DTC capabilities. Our unmatched global scale and ability to serve consumers everywhere with a truly differentiated offering across platforms, as well as our robust cash flows, even amidst the significant investments in our next generation initiatives and the ongoing Covid-19 pandemic, position us to achieve sustainable long-term growth and drive long-term shareholder value,” he added.
In the UK, discovery+ is available for a fee of £4.99 a month or a discounted annual fee of £29.99. It is currently free to all Sky Q customers for a 12 month period.