CBS said the growth reflected increases in revenue across the board and that content licensing and distribution increased 15% year-on-year.
Operating income before depreciation and amortisation rose 7% on 2012 to US$3.26 billion, while adjusted net earnings were US$1.89 billion, up from US$1.68 billion last financial year.
Within these numbers, fourth quarter revenues were US$3.91 billion, up from US$3.7 billion a year earlier. Distribution fees were up US$194 million to US$898 million.
CEO Les Moonves pointed to CBS-distributed Will Arnett comedy The Millers, which launched last season on the broadcast network and has since scored numerous international deals, as a new revenue driver.
“We haven’t had a hit comedy that we were a participant in, in a major way since Everybody Loves Raymond. So the fact that The Millers (pictured) is going to be around a while and clearly is doing very well, leads to a fairly big number,” he said.
Moonves has been a vocal proponent of Netflix’s international expansion and yesterday told investors on a conference call he was “very happy” each time the SVOD service opened in a new market.
He also talked up the potential of Hulu Plus, the premium subscription service run by CBS rivals Disney, Fox and NBCUniversal, following a content agreement earlier this week.
“Clearly by this last deal, [Hulu Plus is] a competitor to Netflix and Amazon. They’re now over five million subs. So they’re a big, big player. And yes, SVOD will be up substantially in 2014 over 2013.”
The British television industry is today mourning the passing of the well liked UKTV controller Emma Tennant, who h hhttps://t.co/JXvgIZhJ8B
23 March 2018 @ 12:20:01 UTC