Tuesday, September 28, 2021

VIACOM REPORTS LACKLUSTER QUARTER

August 6, 2014 by · Leave a Comment 

Viacom, whose cable TV networks include MTV, Nickelodeon and Comedy Central, recorded nearly flat revenue and income from those networks for its third quarter. It said revenue rose by just 1 percent, with somewhat higher advertising income offset by lower revenue from some cable distributors. Its film business, however, was a different and disappointing story. Revenue fell to $856 million, versus $1.16 billion in the year-ago quarter, with a 43-percent decline in ticket sales and a 24 percent decline in home video. In a statement, Viacom chief Philippe Dauman blamed the poor results — mostly from its Paramount unit — on timing — fewer releases in theaters and the overall industry decline in sales of DVD and Blu-ray discs.