Tara Lachapelle: “It’s hard to imagine Discovery+ surviving the streaming wars as a stand-alone product. But its immense library would improve the value proposition of any of the leading apps faster than the occasional big-budget movie can.”
Discovery CEO David Zaslav’s total compensation for 2020 was $37.7 million, down 18% from $45.8 million in 2019, according to a proxy statement filed with the Securities and Exchange Commission.
The big change in Zaslav’s pay was that he received no option award for 2020. Last year, he received nearly $7 million in options.
Discovery Inc. missed the first-quarter earnings forecasts by quite a bit. Q1 was the launch quarter of streaming service Discovery+. Wall Street had forecast earnings per share of 65 cents on revenue of $2.77 billion, according to a consensus estimate compiled by Yahoo Finance. A smaller compilation by Zacks was a penny lower on the EPS prediction, but concurred with the sales figure. Discovery actually reported diluted EPS of 21 cents on $2.792 billion in revenue. While the revenue was up 4%, the per-share earnings were down 62% (from 55 cents).
Everyone is a winner in the streaming wars. Legacy media companies like ViacomCBS and Discovery have been rewarded by investors for their push into streaming, while Disney’s stock is being saved by Disney+’s breakout success. Since the beginning of 2020, both ViacomCBS and Discovery’s stock have skyrocketed by more than 130% each, and Disney and Comcast have also risen by 36% and 27%, respectively, in that same timeframe.
With the CTV space growing ever more crowded, Discovery+ launched with a big bet that there’s room for “passing the day” programming on streaming. It’s banking on loyal subs to cut the cord, capturing international audiences and ad-supported tiers and commerce for the win.
Along with the coming of a new year, there’s another streaming service for your consideration: Discovery+. Launching today, the new subscription video service boasts more than 55,000 episodes from shows on the Discovery Channel, Food Network, HGTV, Animal Planet, TLC and other Discovery Inc.-owned channels. The service will also have series from which will be available for $4.99 monthly or $6.99 for an ad-free version. Discovery+ will also have series from A&E, BBC, The History Channel and Lifetime.
The conglomerate, led by David Zaslav, now holds 95% of OWN, with Winfrey opting to receive a $35 million-plus stake.
This month’s virtual Devoncroft Executive Summit took the measure of a media technology market radically altered by COVID-19, from a 10% hit to its overall market size, a reassessment of how of it does business and a big potential shift in its sales and marketing efforts. Above, Devoncroft’s Josh Stinehour emphasized that technology investment by broadcasters is an opportunity to drive increased revenues, not simply a cost center.
Discovery said on Thursday that it will unveil details of its much-anticipated global streaming service and the broader strategy behind it during an investor event on Dec. 2.
Discovery Inc. on Thursday reported total revenues of $2.6 billion, off 4% from the year earlier as profit rose to $300 million from $262 million. U.S. distribution revenues increased 2% and ad revenues decreased 8%; and International distribution revenues decreased 4% and advertising revenues decreased 9%. Earnings per share was $0.44 per diluted share from $0.35.
Discovery CEO David Zaslav said that it is currently in a dispute over how Discovery’s channels are being offered on T-Mobile’s new TVision pay TV service. Sources familiar with the situation said ViacomCBS has similar concerns.
The first phases of dynamic, addressable advertising trials include participation from Fox, ViacomCBS, NBCUniversal, Scripps, AMC Networks, Disney Media Networks, Discovery, Hearst Television and WarnerMedia.
Discovery CEO David Zaslav’s 2019 compensation took a bit fall from his sky-high take in 2018, dropping 65% to $48.5 million for the still-handsomely paid executive. The $48.5 million was more in line with his 2017 compensation, which was $42.2 million.
OGDEN, Utah (AP) — The stars of the “Diesel Brothers” reality TV show are appealing a federal court ruling requiring them to pay $848,000 to the U.S. government and a Utah county over pollution law violations. U.S. District Judge Robert Shelby of Salt Lake City ruled in March that David “Heavy D” Sparks, Joshua “Redbeard” […]
Caution about the spread of the coronavirus has led Discovery to cancel its May upfront presentation. Discovery said it has prepared an “alternative digital experience” to showcast the company’s portfolio of networks, programming and advanced advertising products to media buyers and clients.
Measurement and analytics company 605 is introducing a platform that will help programmers and advertisers plan, buy, assess and attribute advanced advertising campaigns. AMC Networks and Discovery are the first two programmers to sign up for a pilot test.
A+E Networks, AMC Networks, CBS, Discovery, Fox, NBCUniversal, WarnerMedia and other media publishers double down on addressable TV initiatives ahead of the 2020 upfronts.
After recently selling his remaining stake in Lionsgate, billionaire investor and media mogul John Malone has acquired more stock of Discovery in what is believed to be his largest or one of his largest open-market purchases of the stock ever.
Synamedia, an independent video software provider, today announced that Discovery Inc. has chosen its virtualized Digital Content Manager (DCM) from its video network portfolio to increase operational efficiencies for its Asia Pacific distribution. A long-time Synamedia PowerVu customer, Discovery is centralizing its Asia Pacific uplink compression systems to its Sterling,Va., broadcast center. The company is […]
Discovery Inc. has partnered with localized digital advertising solutions company Gamut to offer premium local-market OTT inventory ad sales in the United States. Cox Media Group-owned Gamut will have access to premiere seasonal events airing across Discovery’s top-tier networks (no specific show titles available as yet).
In the first quarter of apples-to-apples financials since it closed the Scripps Networks Interactive acquisition, Discovery delivered solid advertising gains and beat Wall Street profit forecasts. The company reported total revenue in the second quarter of just shy of $2.9 billion, which met estimates.
Discovery and the BBC are chucking out the script in a new global streaming venture that will combine Discovery’s extensive real-life entertainment library with the U.K. media giant’s natural history catalog.
The CBS board has decided the company needs to get bigger, but merging with Viacom is not enough for Shari Redstone, who has voting control of both companies. If the CBS-Viacom deal gets done, Redstone’s National Amusements would like to move quickly with a second deal, the people said. Discovery Communications is interested in selling to CBS or a combined CBS-Viacom, according to two sources. Redstone is open to the idea, but would also consider buying other companies, including Sony Pictures and MGM.
IP-enabled production and playout models promise cost savings and increased flexibility. And once content flows through a data center, artificial intelligence and machine learning can be used to generate metadata and direct the future distribution, repurposing and archiving of that content.
Discovery Communications’ shares tumbled 8.2% on Monday after the company lowered its estimate for US ad revenue. The company blamed the missed revenue forecast on a quarter-to-date ratings decline of 23% in its flagship Discovery Channel.