TVN aids Scripps performance
February 27, 2018 12.04 Europe/London By Chris Dziadul
Scripps Networks Interactive had consolidated revenues of $3.6 billion in 2017, or 4.7% more than a year earlier.
Ad revenues amounted to $2.5 billion (+3.7%) and distribution revenues $955.4 million (+6.8%). Its consolidated adjusted net income was $752.6 million (16.9%), reflecting an increase in operating revenues, higher foreign currency transaction gains and lower interest expense compared with 2016.
Looking at Scripps’ international operations, the company notes that in Q4 operating revenues were $203.7 million (+23.2%) and those at the Polish commercial broadcaster TVN 11.7% higher in local currency compared to the previous year. It also says that in Q4 TVN was the number one media company for the 16-49 demographic for the fourth quarter, growing its audience share by 2%.
Commenting on the results, Kenneth W. Lowe, chairman, president and CEO, said, “Scripps Networks Interactive finished a pivotal 2017 year with a strong fourth quarter, executing on our strategic objectives and delivering financially with record revenue and growing segment profit. We reached new consumers through the thousands of compelling experiences created by Scripps Lifestyle Studios. We invested in our core business as well as our fast-growing digital offerings, allowing us to capitalise on the popularity of our powerful lifestyle brands across the globe. And, of course, we announced our merger with Discovery Communications, creating an unmatched opportunity to deliver our real-life content to a greater number of audiences.”
He added: “We have great momentum as we head into 2018. Our incredible teams remain intently focused on doing what we do best: creating great lifestyle content that connects with audiences through ideas, information and inspiration. We are excited about the prospects for the combination with Discovery and are diligently working toward finalising the transaction to bring these two great companies together.”