Crown Media Reports Big Jump in Earnings
Crown Media Holdings, which runs the Hallmark channels, reported higher fourth quarter earnings as advertising revenue jumped for its holiday programming.
Net income rose 33% to $51.6 million, or 14 cents a share, from $38.9 million, or 11 cents a share, a year ago.
Revenue rose 18% to $158 million.
Advertising revenue increased 21% to $134 million.
Subscriber fee revenue rose 8% to $22 million.
“2015 marked another year of significant achievements with the expansion of our subscriber base, strong growth in audience for both channels and double-digit quarterly advertising sales increases” said Bill Abbott, president and CEO of Crown Media Family Networks. “Forging ahead in 2016, we will continue to focus on being the celebration destination for viewers with events such as Winterfest, Countdown to Valentine’s Day, June Weddings, Fall Harvest, and Thanksgiving Weekend Event.”
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.