Crown Media Posts Strong Q4, Full-Year 2007
Hallmark Channel owner Crown Media Holdings said its fourth-quarter revenue was up 19% to $69 million over the same quarter in 2006.
That was thanks to a 21% boost in ad revenues to $63 million and a 3% increase in subscriber fees to $6.4 million.
Net revenue for the full year was up 17% to $234.4 million, with ad revenues up 18% to $206.2 million.
Hallmark’s subscriber count was up 12% (9.3 million) to 83.9 million as of Dec. 31, 2007, according to the company.
Since the beginning of 2008, Hallmark reached renewal agreements with Comcast and Time Warner Cable, the nation's two largest cable operators, and satellite companies DirecTV and Dish Network, accounting for 71 million of its subscribers. It also boasted record ratings in the fourth quarter, ranking eighth among all ad-supported networks.
Crown Media president Henry Schleiff has been working hard to leverage his channel's family-friendly brand and ratings success into higher subscriber fees.
Broadcasting & Cable Newsletter
The smarter way to stay on top of broadcasting and cable industry. Sign up below
Contributing editor John Eggerton has been an editor and/or writer on media regulation, legislation and policy for over four decades, including covering the FCC, FTC, Congress, the major media trade associations, and the federal courts. In addition to Multichannel News and Broadcasting + Cable, his work has appeared in Radio World, TV Technology, TV Fax, This Week in Consumer Electronics, Variety and the Encyclopedia Britannica.