Discovery Communications reported a 10% rise in second-quarter revenue thanks to 23% growth in ad sales at its international networks, as well as a 19% jump in distribution revenue.
The cable giant’s U.S. networks revenue declined by 2% due to licensing agreements impacting distribution, although ad sales were up 5% mainly due to higher prices.
Other revenues declined due to a decrease in content production contracts. Excluding the impact of licensing agreements, distribution was up 6% and total revenues grew 4% compared with the second quarter last year.
Total revenue increased by $143 million to US$1.61 billion, up from $1.47 billion in the same period last year.
Net income rose 26% to $379 million, up from $300 million last year. Discovery now expects full-year revenue to land between $6.45 billion and $6.525 billion.
“Investing in compelling programming remains a priority as we integrate our recent acquisitions and build new avenues of growth so we can deliver additional long-term value to our shareholders,” said Discovery’s president and CEO, David Zaslav (pictured above), in a statement.
Discovery’s channel brands include Discovery Channel, TLC, Science, ID: Investigation Discovery, Animal Planet and OWN.
Earlier this year, the company finalized a deal for its controlling interest in sports net Eurosport; acquired two pay-TV lifestyle channels in New Zealand; teamed with Liberty Global to buy All3Media in a deal worth $930 million; and took over Gold Rush producer Raw TV.