|
MUMBAI:
Discovery has announced that for the year ended 31 December
2008, it managed to get revenues of $3.4 billion.
This
marked an increase of 10 per cent or $302 million over 2007. This was primarily
driven by 10 per cent growth at US Networks and 12 per cent growth at International
Networks.
Discovery president and CEO David Zaslav said, "This past year was one of
significant accomplishment for Discovery, as we delivered strong operating performances
across our businesses and successfully transitioned to a fully public company.
Strategically, we strengthened the programming and development at our fully distributed
channels and finished the year with double-digit ratings growth in the fourth
quarter among key demos at Discovery Channel and TLC.
"
We also established new identities for several of our emerging
networks and continued our international expansion, increasing
our subscriber base overseas by 16 per cent. Most importantly,
our strategic initiatives were achieved while strongly growing
revenues and Adjusted OIBDA, in what are increasingly challenging
times.
"
As we execute our 2009 operating plan in a difficult economic climate, our stable
foundation of contracted and growing subscription revenues, diversified international
expansion and stringent focus on costs give us confidence that we will outperform
the marketplace and continue to grow moving forward"
Fourth
quarter revenues of $904 million increased by $1 million over
the adjusted fourth quarter a year ago.
Adjusted
Operating Income Before Depreciation and Amortisation (OIBDA) grew to $362 million,
an increase of $222 million versus the fourth quarter a year ago, mainly driven
by an increase of $188 million at US Networks and an increase of $26 million,
or 32 per cent, at International Networks. | 
