Scripps Networks Interactive has posted a record US$3 billion in consolidated operating revenues in its full-year financial results for 2015, a 13% increase over the year prior.
The Knoxville-based lifestyle cable giant cited strong advertiser demand as well as growth in the company’s international division – which was buoyed by the consolidation of operations for TVN Poland, a Scripps acquisition finalized in July of last year.
Fourth-quarter results also pointed to significant revenue gains for the parent company of HGTV, Food Network, Travel Channel and DIY Network. Consolidated operating revenues for Q4 came in at $851.8 million, an increase of just over 27% from the same period the year prior. U.S. networks’ operating revenues were $701.8 million, an 8% increase from the same period in 2014.
Net earnings for the fourth quarter were reported as $164.7 million, up from $131.8 million in Q4 2014.
On the advertising front, full-year results saw ad revenues climb to $2.1 billion, up 13.6% over the prior year, while fourth-quarter results saw them rise to $596.5 million, up 31% from the same period the year prior.
The U.S. networks’ fourth-quarter segment profit of $309.1 million, a 1.1% increase over the same period last year, was offset by an increase in costs related to the premiere of a record number of new programs, coupled with what the company called “higher than normal program write-offs primarily related to the repositioning of the Travel Channel brand and vision under new leadership.”
“Our core television lifestyle networks are growing in demand by viewers and advertisers, while our international expansion continues to make a significant contribution to the overall robust health of the company, “said Kenneth W. Lowe (pictured), Scripps’ chairman, president and chief executive officer, in a statement.