International growth helps offset Viacom US performance

Philippe Dauman

International revenues and filmed entertainment helped offset a decline in Viacom’s domestic US TV revenues in its fiscal third quarter.

International affiliate revenues grew by 9%, or by 12% excluding currency effects. International ad revenues grew by 19%.

In the US, media network revenues declined by 3%, while advertising revenues fell by 4%. US affiliate revenues fell by 10%.

Overall, Viacom posted quarterly revenues of US$3.107 billion, upo 2%, and operating income of US$769 million, down 29%.

“In the quarter, Viacom continued to execute on our strategic plan by increasing investment in high-quality original content, enhancing our connection to audiences, accelerating the growth of data-driven advertising products and further expanding our unmatched global reach. Ratings increased at several of Viacom’s major networks, including Nickelodeon, Nick at Nite, VH1 and TV Land, and ratings trends at nearly all of our networks showed sequential improvement as we successfully completed a very strong upfront across our brands,” said executive chairman, president and CEO Philippe Dauman.

“Internationally, our media networks are driving strong double-digit revenue growth, with new channel launches, growing distribution partnerships and substantial ad sales gains. Viacom’s third quarter results were impacted by the underperformance of Teenage Mutant Ninja Turtles: Out of the Shadows.“