Versant channels hold audiences as pay-TV pressure continues
August 7, 2026 11.31 Europe/London By Julian Clover


Versant Media says its TV brands reached more than 120 million viewers a month in Q2, though the former Comcast networks group continued to feel the impact of pay-TV subscriber decline.

Revenue fell 3.8% year-on-year to $1.64 billion, while net income attributable to Versant declined to $211 million from $302 million. Adjusted EBITDA was down 8.9% to $624 million, although the company said EBITDA rose 3.0% against standalone prior-year figures.

The clearest pressure remains distribution. Linear distribution revenue fell 6.3% to $954 million, primarily because of subscriber declines, partially offset by contractual rate increases. Advertising was more resilient, slipping only 0.6% to $423 million, helped by improved network ratings and revenue from a recent acquisition.

CEO Mark Lazarus said Versant’s brands had shown “strength, durability and scale”, pointing to recent multi-year renewals with two large distribution partners, one in the US and one in Canada.

The company highlighted several channel-specific performances. CNBC ranked among the top 10 cable networks during market hours for the fourth consecutive month in June. Coverage of the SpaceX IPO delivered CNBC’s highest-rated day in more than five years, while a Jeff Bezos interview generated more than 100 million video views across platforms.

MS NOW (the former MS NBC) delivered its seventh consecutive month of year-on-year audience growth in June and finished the month as the second-highest-rated television network across all genres. Viewership increased 14% in Q2, while viewers watched an average of nine hours a week. The brand has also generated almost three billion YouTube and TikTok views so far this year.

Golf Channel had its most-watched second quarter since 2020, helped by coverage of the Masters, PGA Championship, US Open and PGA Tour events.

USA Network remained a top-five cable entertainment network among key demographics. Versant said live sport continued to perform strongly, with the WNBA’s first season on USA delivering the three most-watched games across cable and streaming during the quarter.

Outside linear, Platforms revenue rose 9.3% excluding the divested SportsEngine business, driven by Fandango and GolfNow. Fandango has launched an ad-supported streaming service, while Versant is expanding direct-to-consumer activity at CNBC and MS NOW.