Discovery Communications has released positive full-year and fourth-quarter results, driven largely by a diversified slate of nonfiction, sports and kids entertainment brands, the company has reported.
The U.S. cable network group — and owner of TLC, OWN and the Discovery Channel — reported earnings of $304 million in Q4, compared with $219-million in the same period last year — an increase of 39%. The company noted in its financial report that the growth was driven primarily by “higher operating results.”
The company’s total revenues rose to $1.67-billion from $1.65-billion from the previous quarter — a 2% increase, thanks to accelerating gains in the U.S. division.
Discovery posted positive Q4 figures with a 3% year-over-year increase in revenue for the quarter to $1.67 billion and a 1% gain in adjusted operating income to $581 million.
Distribution revenue in the U.S. was up 6% to $375-million, while distribution overseas was up 3% to $418-million.
Commenting on the results, David Zaslav, president and CEO of Discovery Communications noted in a statement, “Discovery’s diversified set of nonfiction, sports and kids’ entertainment brands, and strong strategic positioning continued to drive attractive distribution agreements, helping to deliver solid operating and financial results in 2016.”
“As we begin 2017, we will continue to invest in our premier global IP and brands to nourish fans across all screens, all platforms and all services to drive shareholder value and propel our business for years to come amid the rapidly changing media landscape,” he added.