• by Wayne Friedman , November 14, 2013

Viacom’s cable TV advertising revenue posted a double-digit percentage gain for its fiscal fourth-quarter period -- higher than industry estimates -- due to higher ratings.

Cable advertising was up 10% for both worldwide and U.S. domestic activity. Worldwide and U.S. domestic affiliate fees climbed 6%. Overall, Viacom media networks' revenue rose 7% to $2.46 billion.

Viacom witnessed improved viewership for most of its networks. Nickelodeon was up 6% in total-day third-quarter ratings to average 1.76 million viewers. MTV was up 7% to average 504,000 viewers in total day ratings and 9% higher to 936,000 viewers in prime time.

The company also fared better in terms of advertising revenues as a result of favorable comparisons to the third quarter of 2012, when the London Olympics took advertising dollars away from many TV networks.

Viacom made major gains in theatrical revenues -- some 31% higher -- boosting overall film entertainment revenues up 11% to $1.21 billion. All this was much higher than estimates from analysts. Much of its theatrical gain was driven by “World War Z," spillover revenue from its release in the second quarter.

Home entertainment revenue was up 24% and TV license fees continued to fall, down 17%. Ancillary revenues grew 54%, benefitting from catch-up payments related to its prior Marvel distribution deal and digital sales.

Fourth-quarter revenue for all of Viacom was up 9% to $3.65 billion, while net income grew 18% to $626 million. Mid-day trading showed Viacom’s stock down slightly -- 0.84% to $82.46 .