Television

Walt Disney 2Q earnings climb 19 per cen

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2016/06/28/Untitled-1_9.jpg?itok=BpRI_Dr-

MUMBAI: Riding on the strong ratings success of ABC Network and cable channels shows coupled with the increased attendance at its theme parks, The Walt Disney Company's profits in the second quarter have risen by 19 per cent.

The company's net income rose to $733 million from $657 million. Sales advanced 2.5 per cent to $8.03 billion in the period ended 1 April. Diluted earnings per share (EPS) for the second quarter increased 19 per cent to $0.37, compared to $0.31 in the prior year quarter. For the six months period, diluted EPS increased 16 per cent to $0.74 compared to $0.64 in the prior year period.

"Disney's ongoing commitment to creative and operational excellence is evident in our strong second quarter results. At the same time, the strategic initiatives we pursued during the quarter help position us for future creative success, new opportunities to reach consumers with our products, and long term value creation for our shareholders," said the Walt Disney Company president and CEO Robert A Iger.

The company's Media Networks revenues for the quarter increased 18 per cent to $3.6 billion and segment operating income increased 20 per cent to $969 million driven by strong performance at broadcasting.

The operating income at Cable Networks increased $41 million to $ 809 million for the quarter primarily due to growth at ESPN, which was driven by higher affiliate revenues from increased contractual rates. This increase was partially offset by higher revenue deferrals at ESPN, investments in ESPN branded mobile phone service, increased programming and production expenses and higher administrative costs at ESPN. ABC's hit dramas such as Desperate Housewives and Grey's Anatomy also help boost the network's revenues.

Revenue deferrals at ESPN increased by $31 million versus the prior year quarter due to new programming commitments in an affiliate contract and higher affiliate rates. Revenue deferrals for the six month period increased $137 million as compared to the prior six month period. Cable Networks also experienced modest profit growth at the Disney Channel and ABC Family.

Broadcasting

Operating income at broadcasting increased $122 million to $160 million for the quarter primarily due to improved performance at the ABC Television Network and Television Production and Distribution, partially offset by investments in new initiatives at the Internet Group.

The growth at ABC Television Network was due to increased primetime advertising revenues resulting from strong upfront sales and continued strength in ratings. Ad revenues also increased due to the Super Bowl and the timing of Bowl Championship Series games, although this increase was essentially offset by related programming and production expenses. The increase at television production and distribution was driven by higher third party license fees for Scrubs, as this series entered its fifth season of network television, and increased international sales of Touchstone Television dramas.

Parks and Resorts

Parks and Resorts revenues for the quarter increased seven per cent to $2.3 billion and segment operating income increased 17 per cent to $214 million. Operating income growth at the resorts was due to increased theme park attendance, higher hotel guest spending and occupancy and strong sales at Disney Vacation Club.

Studio Entertainment

Studio Entertainment revenues for the quarter decreased 22 per cent to $1.8 billion and segment operating income decreased 39 per cent to $ 147 million. This was mainly because the company's DVD releases have not sold well. "Lower segment operating income was due to a decline in worldwide home entertainment partially offset by increases in domestic theatrical motion pictures distribution and worldwide television distribution," an official statement said.

Consumer Products

Consumer products revenues for the quarter decreased three per cent to $451 million and the operating income decreased eight per cent to $104 million. The decrease in operating income was driven by lower results at Buena Vista Games and Merchandise Licensing.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/24/raghav-bahl%20%281%29.jpg?itok=5kSEgS_c
Raghav Bahl favours 'reverse mentoring' in media, awaits licence to start channel

Senior media professional Raghav Bahl believes senior editors need to encourage the thoughts of young journalists as "their perspective towards news is different and connected to the new-age digital readers."

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/24/Sidhu%20and%20Prasana%20Krishnan.jpg?itok=Fa3HzH4E
IPL: Sony will have Telugu, Tamil & Bengali feeds, non-committal on Sidhu

MUMBAI: Sony Pictures Networks India is planning to inject adrenaline into the 10th season of the annual cricket fever beginning 5 April. Having over 361 million viewers glued to the screens during the last season, Sony network will continue to have Telugu feed for this year’s edition as well. The...

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/24/greenhouse-key_0.jpg?itok=_tVCfSqC
Keshet & Ananey bring teen & kids series to India

NEW DELHI: Global production and distribution powerhouse Keshet International (KI) and Ananey Communications Group have partnered to bring teens', tweens’ and kids’ series to the global market in KI’s first foray into the genre.

Television TV Channels Kids
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/23/Chhote-Miyan-Dhaakad.jpg?itok=f6z4I-JB
Child prodigies on Colors' 'Chhote Miyan Dhaakad' from 25 Mar

MUMBAI: Bringing double bonanza of endless laughter and giggles is Colors' newest offering, Chhote Miyan Dhaakad.

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/23/suproiya%20%281%29.jpg?itok=wTwcHslB
DD's kids channel could partner private players, launch this year

Building its channel bouquet. That’s what pubcaster Doordarshan which operates more than 37 channels is doing. Come later this year, and DD will launch a free to air channel (FTA) targeted at toddlers. This was confirmed to indiantelevision.com by its director general Supriya Sahu.

Television TV Channels Kids
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/23/jal-dhan%20%281%29.jpg?itok=xjkmVvqw
Aquaguard & Network18 to honour 'Water Heroes' at the 'Jal Daan' grand finale

The first season of the ‘Jal Daan movement’, Network18 & Aquaguard’s social campaign around creating awareness and generating solutions to the drinking water crises in India is reaching its culmination with a gala ceremony on 24th March 2017 at Trident, Nariman Point, Mumbai. The event will...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/23/jeff%20wender_0.jpg?itok=UjEkgLOU
Nielsen and Fox television stations renew local television ratings agreement

New York, NY – March 22, 2017 – Nielsen (NYSE: NLSN) has announced today that it has signed a long-term renewal agreement with FOX Television Stations (FTS) for audience measurement services. As part of the agreement, FTS licenses Nielsen’s Local Television ratings across all of the group’s 28...

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/22/dd.jpg?itok=J9URWJvV
DD b'cast partner of CMS Vataran filmfest

Doordarshan today decided to become the broadcast partner for the 9th CMS VATAVARAN Environment & Wildlife International Film Festival and Forum later this year.

Television TV Channels Terrestrial
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/03/22/rahul%20%281%29_0.jpg?itok=3fmOAWlv
Rahul Chakravarti is Colors Bangla & Odia business head

Viacom18, one of India’s fastest growing media and entertainment companies, announced the appointment of Rahul Chakravarti as Business Head of Colors Bangla and Colors Odia. A veteran with over two decades of experience across FMCG, management consultancy and advertising, Rahul has worked across...

Television TV Channels Regional

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories