Star India reports double digit growth, leads to growth in Fox revenue

Double digit growth at Star India caused to increase Fox’s international advertising revenue to increase by 10 per cent, according to the press release issued by 21st Century Fox

by exchange4media Staff
Published - Nov 9, 2017 9:57 AM Updated: Nov 9, 2017 9:57 AM
Double digit growth at Star India caused to increase Fox’s international advertising revenue to increase by 10 per cent, according to the press release issued by 21st Century Fox. It further states that international affiliate revenue increased 11 percent driven by rate and subscriber growth at both FNG International and Star India for its cable network programming segment for the quarter ending 30 September 2017.

Commenting on the results, Executive Chairmen Rupert and Lachlan Murdoch said, “The Company’s double-digit gains in affiliate revenues demonstrate our strength in the dynamic global market for distinctive video brands and content, across both established distributors and new entrants. We delivered top-line growth at all of our businesses, backed by stand-out storytelling, sports and news, as well as a product focus that will drive greater consumption and compelling opportunities for financial returns on our content investment. Our solid first quarter performance puts us on track to achieve our overall financial and operational objectives for this fiscal year.

The release further gives date of the company reporting total quarterly revenues of $7.00 billion, a $496 million, or 8 per cent, increase from the $6.51 billion of revenues reported in the prior year quarter. This increase reflects revenue growth reported across all operating segments, led by higher affiliate revenues at both the Cable Network Programming and Television segments and higher content revenues at the Filmed Entertainment segment.

Quarterly income from continuing operations before income tax expense of $1.30 billion increased 5per dent over the $1.24 billion reported in the prior year quarter. Quarterly total segment operating income before depreciation and amortisation (“OIBDA”)3 of $1.79 billion was equal to the amount reported in the prior year quarter. Higher contributions from the Cable Network Programming segment were offset by lower contributions from the Company’s Television and Filmed Entertainment segments.
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