You will be redirected back to your article in seconds

Viacom earnings drop 7$%

Film, TV declines hurt conglom; rev falls 14% to $3.24 billion

Declines in film and TV battered Viacom last quarter as theatrical revenue plunged by half and advertising fell.

Net profit declined 7% to $534 million in the fiscal third quarter. Revenue was down 14% to $3.24 billion.

Cable networks’ sales fell 5% to $2.27 billion. Domestic advertising revenues dropped 7% and were down 9% worldwide.

The company was hit by a steep drop in rating at Nickelodeon last fall and has been scrambling to refresh its lineup. And it cited the timing of event-driven programming versus the year ago quarter.

“We are aggressively investing in our brands,” said CEO Philippe Dauman in a statement, citing new kids shows “Workaholics” and “Legend of Korra.”

Domestic affiliate revenues eased 1%. Excluding the impact of digital distribution deals, domestic affiliate revenue growth rate was in the high-single digits.

Worldwide affiliate fees increased 1%.

At Paramount, revenue plunged 29% to $1 billion. Worldwide theatrical revenues decreased 52% in the quarter to $283 million, reflecting the number and mix of releases, which included three films, DreamWorks Animation’s “Madagascar 3: Europe’s Most Wanted,” “The Dictator” and “Titanic 3D,” versus four the previous quarter, DreamWorks Animation’s “Kung Fu Panda 2,” Marvel’s “Thor,” “Super 8” and “Transformers: Dark of the Moon.”

Worldwide home entertainment revenues declined 8% in the quarter. Worldwide television license fees decreased 24%.

Worldwide ancillary revenues surged 44% to $104 million driven by digital deals.

“Despite challenging year-on-year comparisons…Viacom remains committed to pursuing its long-term strategy of international expansion, continued programming investment and ongoing focus on operational discipline,” Dauman said.

More Film

  • 'Asura' is China's most expensive flop

    China to Ban Movie Ticket Subsidies

    Declines in film and TV battered Viacom last quarter as theatrical revenue plunged by half and advertising fell. Net profit declined 7% to $534 million in the fiscal third quarter. Revenue was down 14% to $3.24 billion. Cable networks’ sales fell 5% to $2.27 billion. Domestic advertising revenues dropped 7% and were down 9% worldwide. […]

  • Jack Ma, Alibaba

    China-U.S. Tariff Battle Spells Long-Term Pain for Entertainment

    Declines in film and TV battered Viacom last quarter as theatrical revenue plunged by half and advertising fell. Net profit declined 7% to $534 million in the fiscal third quarter. Revenue was down 14% to $3.24 billion. Cable networks’ sales fell 5% to $2.27 billion. Domestic advertising revenues dropped 7% and were down 9% worldwide. […]

  • 'Ah Boys To Men: Frogmen"

    Visual Effects Firm Vividthree Heads for Singapore IPO

    Declines in film and TV battered Viacom last quarter as theatrical revenue plunged by half and advertising fell. Net profit declined 7% to $534 million in the fiscal third quarter. Revenue was down 14% to $3.24 billion. Cable networks’ sales fell 5% to $2.27 billion. Domestic advertising revenues dropped 7% and were down 9% worldwide. […]

  • Between Two Waters

    San Sebastian: Filmax Swoops on Competition Title ‘Between Two Waters’ (EXCLUSIVE)

    Declines in film and TV battered Viacom last quarter as theatrical revenue plunged by half and advertising fell. Net profit declined 7% to $534 million in the fiscal third quarter. Revenue was down 14% to $3.24 billion. Cable networks’ sales fell 5% to $2.27 billion. Domestic advertising revenues dropped 7% and were down 9% worldwide. […]

  • Cary Fukunaga Britain Maniac World Premiere,

    Cary Joji Fukunaga to Direct New James Bond Film

    Declines in film and TV battered Viacom last quarter as theatrical revenue plunged by half and advertising fell. Net profit declined 7% to $534 million in the fiscal third quarter. Revenue was down 14% to $3.24 billion. Cable networks’ sales fell 5% to $2.27 billion. Domestic advertising revenues dropped 7% and were down 9% worldwide. […]

  • 'Garry Winogrand: All Things Are Photographable'

    Film Review: 'Garry Winogrand: All Things Are Photographable'

    Declines in film and TV battered Viacom last quarter as theatrical revenue plunged by half and advertising fell. Net profit declined 7% to $534 million in the fiscal third quarter. Revenue was down 14% to $3.24 billion. Cable networks’ sales fell 5% to $2.27 billion. Domestic advertising revenues dropped 7% and were down 9% worldwide. […]

  • Danny Boyle

    Film News Roundup: Danny Boyle's Comedy Moved Forward

    Declines in film and TV battered Viacom last quarter as theatrical revenue plunged by half and advertising fell. Net profit declined 7% to $534 million in the fiscal third quarter. Revenue was down 14% to $3.24 billion. Cable networks’ sales fell 5% to $2.27 billion. Domestic advertising revenues dropped 7% and were down 9% worldwide. […]

More From Our Brands

Access exclusive content