• by David Goetzl  @dgoetzl, April 30, 2010

In advance of the 2011 launch of the Oprah Winfrey Network, co-owner Discovery Communications is likely to increase funding behind the venture. Its agreement calls for an investment of $100 million, with an estimated $30 million this year. 

"We are working right now with our partners on incremental funding ... it's likely that that will be a greater number," Discovery's CFO Brad Singer said.

Discovery CEO David Zaslav indicated the company is averaging spending in the $2 million to $3 million range per month.

Last year, half-owner Discovery invested $35 million. Oprah Winfrey and her Harpo, Inc. control the remaining 50%.

The venture includes the OWN network as well as Oprah.com, which has been redesigned with a beta version up. The channel has at least 15 series in various stages of development, including several starring Winfrey herself. A pricey marketing campaign is coming.

The Wall Street Journal reported that OWN signed Procter & Gamble to a $100 million, three-year ad deal.

Zaslav and Singer spoke on a conference call as Discovery unveiled its results for the first quarter, where domestic ad dollars were up 9% to $266 million. The jump was above the 3% increase that Barclays Capital predicted, an estimate based in part on the 1% growth at Viacom.

Part of Discovery's gain can be attributed to scatter pricing more than 15% above upfront levels, the company said. Ratings were also a factor. Animal Planet and TLC, by one measure, are both up 9% in the current season in the adult 25-to-54 demo.

Total U.S. revenues in the January-March period were up 5% to $546 million. Globally, dollars were up 8% to $879 million. Profit jumped 42% to $169 million.

In midday trading, the share price hit a 52-week high; it was up about 3% to the $39 range.