Discovery Channel has increased its full-year revenues by a staggering 54% as the company reaped the benefits of its first Olympic Games in Europe and the integration of Scripps Networks in to the business.
Fourth quarter operating expenses for International Networks increased to $734 million compared with $678 million in 2018.
Across the globe Discovery brought in $10.6 billion.
“2018 was a transformational year for Discovery, highlighted by our operational accomplishments, our strong progress in synergy generation and our overall solid financial performance, as we continued powering people’s passions around the world,” said David Zaslav, President and Chief Executive Officer for Discovery. “Discovery is a differentiated global content company, and we are optimistic that we will continue to build on all of our operating momentum to drive additional shareholder value into the future.”
Price increases in the European market helped add an additional 2% to Discovery’s distribution revenues. But the gains were offset by a flat advertising market and falling audiences in Latin America.