You will be redirected back to your article in seconds

No. 11: NBC

New York

Revenue: $6.797 billion

Operating profit: $1.797 billion

When NBC News president Andrew Lack was promoted to president and chief operating officer of NBC in May, he emphasized that the company is not looking for a buyer, and is instead looking to expand.

“We’re always on the lookout for opportunities, either acquisitions or partnerships, said Lack. “Growth is the challenge for us.”

Having fared well with MSNBC and CNBC, the company is looking to bolster its cable holdings. NBC pulled the plug on its publicly traded Internet venture NBCi in the spring.

The Peacock web’s failure to get an early jump on the reality TV bandwagon put it at a disadvantage last season. For the 2000-01, NBC’s primetime ratings average among the key demo of adults 18-49 dipped 4% from the previous term.

During the summer, however, the net compensated by earning strong ratings with reality shows “Spy TV” and “Fear Factor.” In addition, the net continues to dominate early morning and latenight.

With scripted programming costs skyrocketing, it’s likely that NBC will continue to mine the reality genre looking for gold.

Up against a soft advertising market, NBC posted about $2 billion from advertisers in upfront time buys for the season ahead, down from $2.2 billion last year. Nonetheless, the net was the market leader.

More Biz

  • Here’s How Much Money 10 Artists

    Here’s How Much Money 10 Artists Are Owed by PledgeMusic

    For eight years, PledgeMusic was a success story: A direct-to-fan platform where artists worked directly with their audiences to fund their albums, tours and all stripes of merchandise, with fans able to purchase everything from custom guitar picks to private concerts. Yet last June, Variety broke the news that the company is struggling to pay [...]

  • Korea's CJ CGV Switches Turkey CEOs

    Korea's CJ CGV Switches Turkey CEOs as It Battles With Local Industry

    Yeun Seung-ro has been appointed as CEO of CGV Mars Entertainment, the Korean-owned company that operates Turkey’s largest cinema chain. He replaces Kwak Dong Won, another veteran of the CJ-CGV group. The change of personnel may reflect two ongoing battles within the Turkish film industry. CJ-CGV, which bought Mars for some $650 million in 2016. [...]

  • China Video Streaming Giant iQIYI Loses

    Chinese Video Giant iQIYI Loses $1.3 Billion in 2018

    Chinese video streaming firm iQIYI lost over $1.3 billion in 2018, as revenues and subscriber numbers ballooned. The deepening losses reflected ever higher spending on original content production. Announcing its first full-year financials since a March IPO that launched it onto the NASDAQ, iQIYI said that it lost $1.3 billion (RMB9.1 billion) last compared with [...]

  • Lisa Borders Time's Up

    Time's Up CEO Resigned After Son Was Accused of Sexual Assault

    Time’s Up has announced in a statement posted to Instagram that its former president and CEO Lisa Borders, who resigned Feb. 18, did so after her son was accused of sexual assault in a “private forum.” “Within 24 hours, Lisa made the decision to resign as President and CEO of Time’s Up and we agreed [...]

  • Louis Tomlinson Signs With Arista (EXCLUSIVE)

    Louis Tomlinson Signs With Arista (EXCLUSIVE)

    One Direction’s Louis Tomlinson has signed with Arista, sources tell Variety. While the singer was formerly linked with Epic Records in 2017, he is signed directly to Simon Cowell’s Syco label and will move within the Sony Music family to Arista. Tomlinson teased a new single on Feb. 2, posting on Twitter, “Just heard the [...]

  • Jussie Smollett

    Jussie Smollett's Bail Set at $100,000, Must Surrender Passport

    UPDATED: A Chicago judge set a $100,000 bond for Jussie Smollett on Thursday, as the “Empire” actor made his first court appearance. Smollett faces one felony count of filing a false police report. Police allege that Smollett staged a Jan. 29 attack, telling detectives that he was accosted by two men who used racial and [...]

More From Our Brands

Access exclusive content