NBCU: Cable Dips, Broadcast Records Slight Uptick

NBCUniversal’s second-quarter television results showed declining advertising numbers for its cable networks and a slight ad gain for its broadcast properties.

The Comcast Corp unit’s cable networks sank 3% in the period, with broadcast showing a “slight increase” in advertising revenues. Overall, cable network revenues slipped 1% to $2.5 billion, while broadcast was flat at $1.8 billion.

Both cable and broadcast networks showed improvements in carriage fees from pay TV companies. Distribution revenue was up 5.6% for cable; with broadcast getting higher retransmission fees.

The big star for NBCUniversal during the period was its filmed unit -- thanks to “Furious 7” and “Jurassic World.” Revenue almost doubled -- 92.7% to $2.3 billion. Operating cash flow also nearly doubled in size to $422 million from $227 million.



Theme parks also witnessed rising revenue -- up 25.7% to $773 million, coming from higher attendance, as well as success at its "The Wizarding World of Harry Potter -- Diagon Alley” in Orlando.

Comcast cable operations witnessed better results when it came to declining video customer operations -- losing 69,000 versus 144,000 in the second quarter 2014. Revenue for its video business rose 3.7% to $5.4 billion.

Business for its broadband customers rose by 180,000 with voice adding 49,000.

Local advertising revenues were flat at $582 million versus $587 million in the second quarter 2014.

Comcast cable communications revenues -- which includes video, broadband, voice, advertising, and business sales -- were up 6.3% to $11.7 billion.

Company-wide Comcast Corp. second-quarter revenue grew 11.3% to $18.7 billion. Net income was up 8% to $4.3 billion.

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