Quarterly Earnings: Crown Media Revenue Up In Q1
By B&C Staff -- Broadcasting & Cable, 5/7/2008 11:44:00 AM
Crown Media holdings, the parent company of Hallmark Channel, posted a strong Q1, with a 32% increase in revenue, totaling $70.6 million for the quarter. Advertising revenues were up 23% to $56.4 million and subscriber fee revenues were up 85% to 13.9 million, thanks to an 11% increase in the subscriber base.
Renewal agreements with DirecTV and Time Warner, and deals with Comcast and Dish Network helped increase the number of subscribers.
“We have now completed the renewals of all of our major distribution agreements on favorable terms which are reflected in the growth of our subscriber license fees,” said Henry Schleiff, CEO of Crown, in a statement. “Our programming continues to earn record ratings, which we are increasingly monetizing, as our advertisers recognize the value of the Hallmark brand and the appeal of our programming to the baby-boomer audience, which is growing in size and buying power.”
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