International Networks’ revenues for the third quarter decreased 3% to $720 million and Adjusted OIBDA decreased 16% to $183 million.
Third quarter revenues of $1,556 million were flat compared to 2015.
“While we faced challenging but expected headwinds this quarter, Discovery is well positioned for long-term growth driven by our well-defined global brands, differentiated content and favourable distribution agreements,” said David Zaslav, President and CEO, Discovery Communications. “We have continued to strengthen and maximise our traditional pay-TV offering with robust new programming while aggressively exploiting new opportunities to leverage our content across numerous digital platforms around the world. Amid an ever shifting global media ecosystem, Discovery is evolving to reach more consumers on more screens and platforms than ever before.”
The network had driven up affiliate rates in Latin America, Northern Europe and Central & East Europe, but advertising declined by 2%.