Discovery's net income in Q1 gets booster shot from OWN windfall

Cable programmer Discovery Communications (Nasdaq: DISCA) posted a healthy 80 percent first quarter year-over-year net income improvement ($325 million versus $169 million) thanks largely to a $102 million piece of change it received when it contributed Discovery Health to OWN, a joint venture with Oprah Winfrey.

Aside from that one-time windfall, the programmer reaped the rewards of improved advertising revenues. First quarter revenues of $951 million were 9 percent more year-over-year while OIBDA grew 17 percent to $427 million, the company reported.

Expanding advertising revenues, which showed double digit gains the quarter and "predictable distribution revenues" will allow Discovery to invest in a "diverse set of brands and platforms around the world," President-CEO David Zaslav said in a news release.

For more:
- see this news release 

Related articles:
Discovery, Sony and Imax join hands in 24x7 3D channel effort
IP video? YouTube now serving up 2 billion daily downloads

Suggested Articles

NCTC and Imagine Communications are working together on ad tech for broadcasters, content owners, MVPDs and virtual MVPDs.

Thanks to some recent data drops from Google and Disney, the scope of the virtual MVPD market in the U.S. is coming into sharper focus.

Sinclair’s new regional sports network with exclusive TV access to the Chicago Cubs has slid into a distribution deal with Hulu + Live TV.