Against the
backdrop of weaker national TV advertising results, Fox cable networks witnessed double-digit percentage gains in U.S. advertising revenues for its most recent reporting period.
FX Networks, Fox
News Channel and Fox Sports 1 helped 21st Century Fox’s quarterly financial results, ending December 31, gaining 11% in advertising revenue over the comparable quarter results. Domestic
affiliate revenue was also up strongly -- 19%.
Overall cable network revenues growth improved 14% to $3.4 billion.
But 21st Century Fox’s broadcasting business — its
broadcast network and TV stations — had a tougher time of it, with a
3% decline in advertising revenues.
Advertising revenue results were largely due to lower general
entertainment ratings at Fox — which was offset somewhat by increased political advertising revenue growth at its local television stations. Television revenues were basically flat at $1.623
billion versus $1.630 billion from the same period a year before.
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Filmed entertainment was 11% higher to $2.8 billion, getting big gains from theatrical releases, including “The Maze
Runner” ($340 million worldwide revenues) and “Gone Girl” ($365 million). Overall for 2014, Fox says it hit an all-time global box-office industry record with more than $5.5
billion.
Total company-wide 21st Century Fox revenues improved 10% to $7.42 billion, with adjusted total operating income before depreciation and amortization 12% higher to $1.7 billion.