In the US company’s latest results, it says that TVN saw mid-single digit revenue growth in local currency in Q2 compared to the same period last year.
International Networks’ operating revenues in Q2 were $147 million compared with $22.1 million a year earlier. Operating income was $18.6 million, and adjusted segment profit $37.4 million in Q2 compared with operating losses of $13.1 million and adjusted segment losses of $10.1 million in the corresponding period last year, primarily due to the inclusion of TVN.
Meanwhile, US Networks’ operating revenues for Q2 were $752.3 million, an increase of 5.2%, driven by advertising revenue growth. Operating income was $378.4 million, an increase of 1.1%, and adjusted segment profit $404.9 million, an increase of 1.1%.
This improvement reflected the increase in advertising revenues, offset by an increased investment in programming.
Commenting on the results, Kenneth W. Lowe, president, chairman and CEO, said: “Scripps Networks Interactive generated another quarter of strong operating performance. I am particularly proud that we achieved our first ever $500 million quarter in US ad sales, and that the importance advertisers place on our networks has continued with a record breaking upfront.
“TVN has proven to be a transformative acquisition for the company, converting our International Networks segment into a growing and profitable endeavour. Thanks to the launch of Scripps Lifestyle Studios, digital engagement is at its highest level ever, particularly on social platforms where our audience has grown considerably, driving a substantial increase in digital revenues. Our company remains well positioned to excel in the evolving media landscape.”