Scripps -- the cable network group of Food Network, HGTV, and Cooking Channel -- says it posted mid-single cost per thousand price increases during the upfront selling period.
Many TV networks held back some advertising inventory for the just-completed upfront selling period, and Scripps Network did the same. “We did hold back a little inventory. But we are always in a range. We still did pretty well,” says Burton Jablin, president of Scripps Networks, in an earnings call with analysts.
As with other TV network group executives, Jablin’s assessment was that “a little bit has gone to digital. Advertisers are also holding back for the calendar year and in the scatter market.”
For its second-quarter earnings reporting period, Scripps Networks said it had a 6.5% gain in advertising revenue of $486 million and a 4.1% gain in affiliate revenue of $188 million. Scripps also witnessed international revenues gain of 15% to $20.4 million.
Overall revenue climbed 6.5% to $708 million. Net income was down 2.2% to $205 million.
Scripps Networks Interactive was down 4.6% to $78.21 in mid-day trading.