Versant Reports Q1 Revenue Down 1% to $1.69 Billion as Platforms Growth Offsets TV Weakness
Updated
Updated · Joplin Globe · May 14
Versant Reports Q1 Revenue Down 1% to $1.69 Billion as Platforms Growth Offsets TV Weakness
2 articles · Updated · Joplin Globe · May 14
Summary
$1.69 billion in Q1 revenue and $286 million in net income marked Versant Media Group’s first-quarter results, with revenue down 1% and profit down 22% from a year earlier.
Platforms growth and tighter execution helped cushion steeper declines in legacy businesses, even as the company highlighted the quarter as operationally strong.
Linear distribution revenue fell 7% and advertising dropped 5%, reflecting subscriber losses and softer traditional TV trends after the Comcast spinout.
Content licensing jumped 113.5% to $121 million, helped by "Kardashians" sales to Disney’s Hulu, while higher public-company costs and interest expense weighed on earnings.
The results show Versant leaning on digital and licensing growth to offset post-spinout pressure in its TV portfolio, alongside a dividend and planned share repurchases.