NBCU Cable Hit With Ad Declines, Broadcast Nets Up

Comcast's NBCUniversal saw its cable and broadcast divisions headed in different directions in the third quarter. NBC cable networks got hit with a 4.6% decline in advertising revenue due to sinking ratings. 

NBC cable networks were hit with a 4.6% decline in advertising revenue due to sinking ratings, while its broadcast TV advertising rose from higher ratings.

Broadcast TV witnessed a solid 7.7% climb to $1.8 billion in revenue. Results included higher retransmission consent fees. Cable networks were still in the positive territory overall in revenues -- up 0.7% to $2.25 billion -- due a steady affiliate revenue growth at 5.1%.

NBC’s filmed entertainment units suffered during the period -- with a 15.2% decline to $1.2 billion due to difficult comparisons to the third quarter 2013 from strong box office money coming from “Despicable Me 2.” NBC’s theme parks were 18.7% higher to $786 million.

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Concerning Comcast’s cable operations, that unit inched up 1% in revenue for its video business to $5.12 billion; with Internet revenues gaining 9.6% to $2.8 billion; and its phone/voice unit virtually flat, down 0.5% to $913 million.

Continuing losses from its video unit among its subscribers slowed -- down 81,000 versus a year ago in the same time period, when it lost 127,000. Comcast says this result was the best third quarter in seven years.

Local cable advertising revenue was up 12.3% to $607 million.

Overall, Comcast revenue grew 4% to $16.8 billion in the period.Net income rose by 48% to $2.6 billion.

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