Cable networks drove growth in fiscal Q2 (January-March) for Viacom, as revenues increased 20% to $3.27 billion. Operating income shot up 37% to $760 million.
“Our networks aired top-rated shows for nearly every demographic. MTV’s Jersey Shore was the number one series across all of television with its target audience, which helped to boost the network’s prime-time ratings nearly 65% for the quarter. Nickelodeon was once again the top-rated network for kids and total viewers with four of the top five preschool series on all television, cable’s top three animated series and the number one show among tweens, global sensation iCarly. Record-breaking performances from Comedy Central original series and specials, such as Tosh.0 and its two late-night leaders, drove double-digit ratings gains in prime time. BET’s investment in programming continued to yield audience gains, particularly in prime time,” said CEO Philippe Dauman.
For the Media Networks (cable) unit, revenues were up 11% to $2.08 billion. Operating income rose 13% to $806 million. Ad revenues were up 12% worldwide and 11% in the US.
The more volatile Filmed Entertainment division saw revenues grow 38% to $1.03 billion. It flipped from an operating loss of $83 million to a profit of $39 million.