TV ad gains push up Viacom results
MTV and Nickelodeon parent Viacom has reported a 22% increase in fourth-quarter revenue, taking it over the US$4bn mark, while profit leapt by 19% to US$583m.
The company announced today that its board of director has approved a US$10bn stock repurchase programme on the back of the results, upping previous plans for a US$4bn buy-up.
Full-year figures include a 12% increase in revenue to US$14.91bn and a 22% increase in adjusted net earning from continuing operations to US$2.25bn.
The gains were attributed to a significant increase in profitability in Viacom's filmed entertainment division, principally due to the strong performance of Transformers: Dark of the Moon in theatrical and home entertainment markets, plus higher ancillary revenues, due in part to digital distribution.
There was double-digit growth in the company's Media Networks segment, which houses MTV, Nickelodeon, Comedy Central, Spike, BET and others.
The unit saw a 7% rise in worldwide advertising revenue and 11% growth in worldwide affiliate fees. It contributed US$2.29bn of revenue in the three months to September 30, up 8% versus the same period last year.
Over the full year, Media Networks delivered a 10% gain in advertising revenues to US$5bn and a 12% rise in affiliate fees to US$3.52bn, which more than offset a 2% decline in ancillary revenues.
"Creatively we are at the top of our game, powered by unique audience insights and connections, coupled with consistent investment in innovative programming at our marquee media networks, including MTV, Nickelodeon, Comedy Central, and BET," said Viacom president and CEO Philippe Dauman.
"We enter a new fiscal year with a proven track record of managing our operations effectively in every economic environment. Our financial position is as strong as it has ever been, which allows us to continue to invest in the growth of our businesses, including new branded television networks in the US and internationally."
Viacom International Media president Bob Bakish told C21TV recently about his plans to expand Comedy Central globally.
Jesse Whittock
10 Nov 2011
© C21 Media 2011
Thursday, November 10, 2011
TV Ad Gains Push Up Viacom's Fourth-Quarter 2011 Results
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