Scripps Networks Interactive Shows Strong Ad, Ratings Growth

Scripps Networks Interactive posted strong double-digit percentage advertising growth for its first quarter -- higher than industry estimates.

U.S. domestic advertising revenue grew 13.7% to $487.3 million. Analysts estimate that it will climb around 9%.

Total advertising revenue (international and domestic) grew 31% to $571.9 million with distribution revenue improving 9.1% to $228.1 million. 

Overall revenue -- advertising and affiliate fees climbed 10% to $702 million.

In addition, Scripps witnessed higher viewership in the quarter -- 4% higher for 18-49 viewers in Nielsen C3 ratings (the average commercial minute rating plus three days of time-shifted viewing) and 11% more in overall viewers.



Analysts note that Scripps is one of the few media network companies to witness higher viewership and advertising revenues.

The biggest revenue-generating Scripps networks are HGTV ($272 million in the first quarter, up 15%) and Food Network ($229 million, climbing 6%), followed by the Travel channel ($81 million, 6% higher); DIY ($42 million, 8% more); Cooking Channel ($33 million, up 8%); and Great American Country ($7 million, down 1%).

Total revenue for the company grew 24% to $817 million, while net income was more than double that of a year ago $290.9 million versus $123.8 million.

Scripps stock soared 5.4% in mid-day Thursday trading to $64.37.

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