Viacom Inc posts 6% rise in domestic ad revenue to $976 million in Q3

The total revenue for Viacom Inc, which owns MTV, Comedy Central and Nickelodeon, has also gone up to $3.36 billion from $3.24 billion

by exchange4media Staff
Published - Aug 9, 2019 8:20 AM Updated: Aug 9, 2019 8:20 AM
Viacom Inc

Viacom Inc has posted 6% rise in domestic advertising revenue to $976 million as its third quarter earnings, beating estimates, as per media reports.

The jump in domestic advertising revenue for Viacom Inc, which owns MTV, Comedy Central and Nickelodeon, comes after a slump of five years.

Viacom Chief Executive Officer Bob Bakish was quoted by media reports as saying: "Importantly, we returned domestic advertising revenue to growth, which is a direct result of the strategy we have been executing for the last two years and the significant progress we have made in scaling Advanced Marketing Solutions."

While the revenue from the filmed entertainment division grew 14% to $877 million, compared to the estimates of $855.7 million, the net income has gone up to $544 million.

Its total revenue has also gone up to $3.36 billion from $3.24 billion, again beating estimates.

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