Television

Viacom net profit up 2.6 per cent in FY-2014

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BENGALURU: Viacom Inc., (Viacom) reported 2.6 per cent rise in net profit to US$ 2376 million for FY-2014 (year ended 30 September 2014) from US$ 2316 million in FY-2013. Revenue in FY-2014 at US$ 13783 million was almost flat as compared to the US$ 13794 million in FY-2013.

For Q4-2014 (quarter ended 30 September 2014, current quarter), Viacom reported a 1.4 per cent drop in profit to US$ 729 million from US$ 739 million in the corresponding quarter of last fiscal. Revenue in Q4-2014 at US$ 3991 million was 9.3 per cent more than the US$ 3652 million in Q4-2013.

Viacom executive chairman Sumner M. Redstone said, “As we conclude another fiscal year, Viacom remains well-positioned as a creative leader with many of the world's most innovative media properties and best entertainment brands.”

Viacom president and CEO Philippe Dauman said, “Viacom's record financial results in 2014 demonstrate the strength of our brands and continuing momentum for our strategy of investing in creativity, with a relentless focus on growing demographic and geographic markets and embracing new distribution platforms. Our Media Networks achieved continued growth in the fourth quarter and the fiscal year. Viacom's affiliate distribution business remains a reliable engine for high-margin revenue expansion and provides significant opportunities to build new consumer experiences with long term distributors and emerging technology partners alike. Despite ratings challenges and uncertainty in the scatter advertising market at the close of the year, Viacom's advertising revenues grew in fiscal 2014, as our creative and marketing teams rolled out innovative new offerings. We also continue to take the lead in defining the next generation of measurement tools that will more fully capture the growing multiplatform engagement of our audiences. Our September acquisition of Channel 5 has already made a positive impact on our business, and points the way to further significant long-term growth of our international business. Paramount delivered the top movie of 2014 and the largest-ever theatrical release in China - Transformers: Age of Extinction - and the studio successfully launched another long-term franchise with the Teenage Mutant Ninja Turtles.”

“This performance allowed us to continue the strong delivery of value directly to investors. Over the past five years, Viacom has returned US$ 16.1 billion to shareholders,” concluded Dauman.

Two main segments – Media Networks and Filmed Entertainment contribute to Viacom’s figures.

Media Networks

Media Networks in Q4-2014 reported 8.3 per cent higher revenue at US$ 2664 million as compared to the US$ 2460 million in Q4-2014. The segment also reported a 5.3 per cent revenue increase in FY-2014 to US$ 10171 million from US$ 9656 million in FY-2013.

Operating income for Media Networks grew 5 per cent to US$ 1087 million in Q4-2014 from US$ 1035 million and increased 4 per cent to US$ 4271 million in FY-2014 from US$ 4096 million in FY-2013.

The company says that Media Networks segment increased reflecting a 10 per cent increase in affiliate fees and a 2 per cent gain in advertising revenues driven by higher international advertising revenues.

Filmed Entertainment

Though Filmed Entertainment segment reported a 12.3 per cent increase in revenue in Q4-2014 to US$ 1357 million from US$ 1208 million in Q2-2013, for FY-2014, revenue dropped 13 per cent to US$ 3725 million from US$ 4282 million in FY-2014.

Operating Income from Filmed Entertainment fell 27 per cent to US$ 213 million in Q4-2014 from US$ 291 million in Q4-2013. Operating Income in FY-2014 fell 12 per cent to US$ 205 million from US$ 234 million in FY-2013.

Strong results from the current quarter releases and the carryover performance of Transformers: Age of Extinction drove Theatrical revenues up 226 per cent to US$ 557 million. Home entertainment revenues declined 38 per cent, reflecting two fewer releases in the current quarter while in FY-2014, Filmed Entertainment revenues decreased principally due to lower revenues across the distribution windows reflecting the number and mix of films says the company.

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