Broadcast Declines Lower Fox's Overall Revenue

Domestic TV broadcast advertising revenue dipped for 21st Century Fox for its fiscal first-quarter financial report -- but cable network advertising witnessed gains.

The company’s broadcasting business witnessed a 5% decline in advertising revenues -- mostly coming from lower ratings at the Fox broadcast network. Overall revenues were flat at $1.05 billion in the quarter with operating income for Fox’s Television division at $174 million, down from $231 million in the same quarter a year ago.

Fox’s cable networks had a better time of it. Domestic advertising revenue grew 10%, with specific strong gains coming from Fox News Channel, FX Networks, and the regional sports network YES. Domestic affiliate revenue was up 18%.

Overall cable network programming revenue increased to $3.2 billion from $2.8 billion with operating income growing to $1.04 billion from $991 million.

Fox’s filmed entertainment business revenue grew 17% to $2.5 billion, with operating income 40% higher to $458 million. Fox had big theatrical release results from “Dawn of the Planet of the Apes” and “Maze Runner” and strong revenue gain from the worldwide theatrical and domestic home entertainment performance of “The Fault in Our Stars” and “Rio 2.”



The division also had higher contributions from the TV production businesses due to higher syndication and subscription-video-on-demand revenues.

Overall, 21st Century Fox revenues grew 12% higher to $7.89 billion with net income down 17% to $1.04 billion.

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