Viacom Ad Revenue Slides on Lower TV Ratings
Posted in: UncategorizedViacom, the owner of the MTV and Comedy Central cable TV networks, posted first-quarter revenue that trailed analysts’ estimates as domestic advertising slowed.
Revenue increased 4.6% to $3.34 billion in the period ended Dec. 31, Viacom said Thursday in a statement. Analysts had projected $3.4 billion, the average of estimates compiled by Bloomberg.
Viacom generates most of its sales and profit from TV networks, which get paid by advertisers. In the current TV season, audiences at MTV and Comedy Central have declined more than 10% in the 18-to-49-year-old demographic, according to Nielsen data. The company said Thursday it will offer Nickelodeon kids network online for a fee, joining HBO in targeting the growing number of consumers who watch TV on smartphones and other devices.
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