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Ad Gains, International Drive Scripps in Q3

Domestic ad revenue increased 5.2% in the period and the purchase of Polish TV network TVN helped push international profits into positive territory in the third quarter for Scripps Networks Interactive.

Overall revenue increased 20.4% to $776.1 million in the period and consolidated ad revenue was up 22% to $527.9 million. Consolidated affiliate fee revenue increased 13.5% to $224.9 million in the quarter.

At its U.S Networks, revenue was $660.9 million, up 6.2%, driven by a 5.2% increase in ad revenue and a 6.3% rise in affiliate fees, primarily driven by annual contractual rate increases, expanded distribution for DIY Network and Cooking Channel with traditional partners and additional distribution from new OTT entrants.

U.S. Networks segment profit was $330.3 million, an increase of 12.2%.

At the international networks revenue was $118.7 million compared to $23.8 million in the prior-year, primarily due to the consolidation of TVN operations.

The TVN deal also helped drive segment profit to $10.9 million in the period,  compared with a loss of $5.9 million in the third quarter of 2014.

"This has been a transformative quarter for Scripps Networks Interactive," CEO Ken Lowe said in a statement. “Our international business has been bolstered by the successful acquisition of Poland's leading multi-platform media company, TVN. Our networks continue to thrive in the United States, and their success is reflected in strong growth in both advertising and affiliate revenues. With a strategy that enables us to create deeper connections with consumers across the world, we are focused on delivering long-term growth and enhanced shareholder value."