OWN Network Turns a Profit
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After very public early troubles, the Oprah Winfrey Network turned a profit in the most recent quarter, earlier than recent expectations, part owner Discovery Communications’ said today as it reported second-quarter earnings.
Discovery CEO David Zaslav said ratings success combined with significant advertising growth to move OWN into the black earlier than anticipated. The network signed over 30 new advertisers during upfront negotiations for the upcoming TV season, he told analysts during a conference call to discuss Discovery’s results. And its recent deals for commercial time in the so-called scatter market have yielded ad prices at least 10% above the 2012 upfront, he said.
OWN also began receiving higher subscriber fees this year, in some cases reportedly about 20 cents per subscriber. The network will now begin to pay back Discovery for its investment.
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