Q1 results show that the US company’s International Networks’ operating revenues in the first quarter were $125.5 million, a 3.5% increase on the same period last year. Revenues at TVN increased by 4.1% in local currency in Q1, and International Networks had an adjusted segment profit of $15.5 million, compared to $9.8 million a year earlier.
Scripps notes that TVN continued to see growth across the entire portfolio and grew its ratings nearly 6% with its key audience during the first quarter. HGTV in Poland, which launched in January, continued to deliver strong ratings and remains one of the most popular lifestyle networks in the country. HGTV is the number two lifestyle network in among women 16 to 49, second only Scripp’s TVN Style.
Scripps as a whole had consolidated operating revenues of $855.1 million in Q1, an increase of 4.7% year-on-year. Its profit rose by 6.3% to $368.7 million.
Commenting on the results, Kenneth W. Lowe, chairman, president and CEO, said: “The momentum we saw in 2016 has continued into 2017. Underpinning our success is our unwavering focus on lifestyle content that creates a unique viewing environment and inspires the lives of our viewers and fans each day.
“Over the last several months, we finalised long-term agreements with some of our distribution partners, continuing with yesterday’s announcement regarding Hulu’s new virtual product offering. As we broaden our reach globally, and on new platforms and digital channels, the enduring relationships that we have built with viewers is paying off in the form of consistent, long-term value creation for advertisers, distributors and shareholders.”