Scripps profit rises 6.7%

Advertising, affiliate fees propel earnings

Scripps Networks Interactive, parent of Food Network, HGTV and Travel Channel, saw profit rise 6.7% to $142 million on a jump in advertising and affiliate fees.

Total revenue rose 13% to $601 million. Ad revenue grew 14% to $417 million; affiliate revenue was up 16% to $171 million.

Food Network revenue rose 17% to $218 million; HGTV was up 8.4% to $205 million; Travel Channel grew 4.9% to $74 million. Among the newer nets, DIY jumped 16% to $34 million; Cooking Channel surged 41% to $22 million; and Great American Country fell 15% to $5 million.

Revenue from the company’s digital businesses, which include its network-branded websites, rose 3.4% to $28 million.

“Scripps Networks Interactive has created a clear, competitive advantage on multiple video screens and other platforms by uniquely defining and staying true to the lifestyle content categories that we own,” said CEO Kenneth Lowe. “The company’s strong second quarter financial performance is a direct result of our successful strategy to differentiate our networks by focusing on avid consumer interest in their homes, food and travel.”

Scripps said expenses were up 22% to $316 million on higher programming and marketing costs to drive viewers.

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