Discovery ends Q3 with $20 mn DTC subs, $425 mn next generation revenues

Q3 ad revenues (US) increased by five per cent YoY and international advertising increased by 26 p

Mumbai: Discovery Inc ended Q3 with 20 million DTC (direct-to-consumer) subscribers, an increase of three million subscribers since the end of Q2. The company generated $425 million of next generation revenues (growth of approximately 100 per cent versus the prior year quarter) with global D2C ARPU of approximately $ five and $ seven blended discovery+ ARPU in the US, supported by our over $10 ARPU for the discovery+ Ad Lite product.

Discovery Inc recently launched discovery+ in Canada and the Philippines in addition to finalising a multi-year US distribution agreements with DirecTV and Verizon. The company also successfully broadcast the Tokyo 2020 Summer Olympic Games, which reached over 372 million people in Europe across TV and digital platforms, and delivered 1.3 billion minutes of Olympics content on its streaming services, it said in a statement.

Total US networks revenues increased 12 per cent to $1,858 million compared to the prior year quarter. Total revenue reported was $3,150 million; increased 23 per cent compared to the prior year quarter.

Among the reporting segments, starting with the US, Q3 advertising revenues increased five per cent year-over-year. There was strong demand for discovery+ Ad Lite product, which contributed to the growth in the quarter. Distribution revenues increased 21 per cent year-over-year, largely due to the continued growth of discovery+ as well as linear affiliate rate increases, in part helped by successful renewals with DirectTV, Verizon, Hulu, and Altice.

International advertising increased 26 per cent versus last year as the global advertising marketplace continued to recover from the pandemic. International distribution revenues grew six per cent during the quarter, primarily due to the growth in direct-to-consumer subscribers, which have nearly tripled over the past year across our footprint outside the US, in part aided by Olympics sign-ups.

Investment losses for the quarter were in the low $200 million range, slightly better than last quarter.

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