Higher ad revenue at its ABC O&Os added to lower sports costs at ABC-TV and increased affiliate fees boost revenue to almost $1.6 billion.
QUARTERLY REPORT
Disney Broadcasting Revenue Up 4%
The Walt Disney Co. on Tuesday reported earnings for its first fiscal quarter ended Jan. 1.
Operating income at its broadcasting segment increased $115 million to $295 million driven by higher advertising revenue at its owned television stations, lower sports programming costs at the ABC Television Network due to the shift of the Rose Bowl to ESPN, lower news and daytime production costs and higher net affiliate fees.
Broadcasting revenue rose 4% in the quarter, from $1.52 billion in the previous quarter to $1.577 billion.
Advertising revenues at the ABC Television Network decreased slightly as the impact of lower ratings and the shift of the Rose Bowl to ESPN were largely offset by higher advertising rates.
Cable networks segment revenue grew 16%, from $2.65 billion in the year-ago quarter to $3.06 billion.
“We had an excellent first quarter, driven by strong creative content and our unique ability to leverage great entertainment across the many platforms, businesses and markets in which we operate,” said Robert A. Iger, president-CEO. “With net income up 54%, it’s a great start to a new fiscal year.”
BRAND CONNECTIONS
Read the company’s report here.
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