Turner Channels Slip In Q2 Ad Revenues

Amid a weak TV ad marketplace, Turner Broadcasting networks slipped 1% in ad revenues in the second quarter of 2015.

While Turner witnessed higher advertising gains for its CNN and Cartoon Networks, there were declines for its bigger TNT and TBS channels. Industry analysts predicted anywhere from a 0.5% to 1% increase in advertising revenues for the Time Warner TV unit.

Turner also had higher advertising revenue from the 2015 NCAA Division I Men's Basketball Championship tournament, and its revenues rose due to the licensing of Turner original programming to Hulu.

Overall, Turner networks’ revenues climbed 3% ($77 million) to $2.8 billion, with distribution fees 2% higher -- a gain of $20 million. Advertising revenue sank $12 million.

HBO revenues added 1% (up $21 million) to get to $1.4 billion with distribution revenues up 4% (a gain of $40 million). Media analysts were expecting a 4% decline.



Big gains were made for Time Warner’s Warner Bros. filmed entertainment -- gaining 15% (up $428 million) to $3.3 billion -- due to new TV syndication deals for “The Big Bang Theory,” sales from video games “Batman: Arkham Knight” and “Mortal Kombat”; and a “Seinfeld” deal on Hulu.

But some Warner Bros. theatrical films underperformed, including “Entourage” and ‘Hot Pursuit.”

Total Time Warner revenue grew 8.2% to $7.4 billion with net income 19.3% higher to $1.05 billion in the second quarter. Stock market results on Wednesday were 6.6% lower to $81.80.

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