Hallmark Channel owner, Crown Media Holdings, released annual results today showing growth for the year in both subscriber fees and advertising revenue. Fourth quarter revenue was up, while ad revenue dropped 4%.
For the full year revenue rose $281.8 million dollars, up 20 percent, while ad revenue was up 8 percent thanks to improved ratings and more original programming. Ad revenue was $223 million for the year while subs fees grew 106% thanks to better distribution and improved contracts.
In fourth quarter ad revenue dropped 4% to $60 million "due to softening rates in scatter and direct response, a reflection of deteriorating national economic trends," according to a company release.
Fourth quarter revenue was up to $75.2 million dollars.
Crown Media Holdings released results a day early thanks to an email snafu which put the results in the hands of media this afternoon rather than Thursday morning.