Fox Cable Scores 11% Uptick In Ad Revs, Broadcast Dips

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.

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