Scripps Networks Interactive continued to operate solidly in the third quarter ahead of its take-over by Discovery Communications.
Results published by the company show that in the US its operating revenues amounted to $692.4 million (+0.9% on the same period in 2016). Advertising contributed $474.8 million (-0.6%) and distribution $203.5 million (+4.7%) to the total. However, its adjusted segment profit was, at $308.6 million, 5.7% lower than a year earlier.
Meanwhile, Scripp’s international operations had revenues of $139.4 million (+13.1%) in Q3, helped by foreign currency fluctuations and an increase in ad revenues at Poland’s TVN. The adjusted segment profit was $15.9 million, compared to $15 million in Q3 2016.
In his comments on the results, Kenneth W. Lowe, the company’s chairman, president and CEO, said: “At a time of rapid transformation in the media industry, we continue to execute on our strategic goals to strengthen the core business, expand our reach and monetise audiences. Our brands deliver the compelling content and programming that viewers love and trust, and with each passing quarter, we are building stronger community with consumers across a multitude of devices and platforms around the world.
“Scripps Lifestyle Studios delivered another record-breaking quarter, further solidifying our digital businesses as an increasingly important growth driver for the company. With the launch of Genius Kitchen, our newest food-focused digital brand, which offers more than 150 hours of immersive content, Scripps Lifestyle Studios is well-positioned to deliver even more impactful digital assets to our audiences.”
He added: “For 23 years Scripps Networks Interactive has been one of the most trusted and respected content producers in the media industry. We continue to be excited to merge with Discovery Communications in an unmatched opportunity to satisfy consumers’ desires for new and innovative content and to offer more engaging experiences across the world and on emerging channels and platforms.”
