• February 24, 2005

Led by an 11 percent growth in advertising sales, Viacom Thursday reported 2004 revenues of $22.5 billion, an increase of 8 percent over 2003. As a result, advertising now accounts for 60 percent of Viacom’s total revenues, up from 58 percent in 2003, making it the most advertising-dependent of the world’s top media companies. Ad sales were especially strong among Viacom’s cable networks, which boosted ad revenues 21 percent over 2003. Viacom’s broadcast TV operations, including CBS and UPN, increased ad revenues 11 percent over 2003. Viacom’s rate of growth slowed down during its most recent quarter with total revenues rising just 6 percent over the fourth quarter of 2003, though its cable networks continued to post double-digit gains.