Liberty QVC Enjoys 6% Bounce, Starz Dips In 2011

QVC-network

Home shopping via television still remains a steady business for Liberty Interactive's QVC Network.

QVC's revenue grew 5% in the fourth quarter of 2011 to $2.6 billion and 6% to $8.3 billion for 2011 -- while its operating income before interest, depreciation and amortization tacked on 9% to $579 million in the fourth quarter and 4% to $1.7 billion for the year.

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And its not just QVC's traditional TV, but other platforms as well.

Mike George, president/CEO for QVC, stated: “We gained new customers at a record pace by engaging people who love to shop across all our platforms. We sustained our 10-quarter track record of double-digit eCommerce growth, and established ourselves as a global leader in mobile retail.”

QVC's U.S. revenue increased 4% to $1.8 billion in the fourth quarter and 3% to $5.4 billion for the year.

While there was gains, they were some declines in QVC jewelry product sales -- a main category for the company. Better news came from its Internet-related businesses, which climbed 16% to $712 million. For 2011, Liberty's eCommerce unit saw revenue up 15% to $2.0 billion, and rose to 37% from 33% as a percentage of total U.S. revenue.

For sister company Liberty Media, there was more of a mixed picture. The company's main businesses -- premium cable networks, Starz, and Encore -- added subscriptions -- 8% and 1%, respectively.

Starz LLC -- the unit that comprises the Starz and Encore networks -- saw revenue increase 8% to $432 million for the fourth quarter and decrease 1% to $1.6 billion for the year. Revenue climbed for the fourth quarter, mostly as  a a result of revenue from a distribution agreement it entered into with The Weinstein Company.

Still, the company notes that subscription growth in 2011 was negatively impacted by a lack of cooperative marketing campaigns with certain distribution partners and a reduction in subscribers from one flat rate deal affiliate.

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