Viacom Reports Higher Profits in Second Quarter
Viacom CEO Philippe Dauman pushed back criticism that its streaming deal with online content provider Netflix was the main culprit in the fall-off in viewership at its Nickelodeon network, adding that the media giant has plans in place to right the kids' network.
Dauman said on a conference call with analysts to discuss quarterly results Thursday that Netflix represents less than one-fourth of total television households, and that time spent streaming Nickelodeon content via Netflix is about 2% of the time spent watching the Nick linear channel.
"Even if you viewed that as being completely cannibalistic -- which of course it is not, it serves our customers in places where they might not otherwise be able to watch television and it serves some promotional value -- there is minor impact here," Dauman said.
He added that Viacom will correct its ratings issues -- MTV ratings declined about 19% in the quarter -- as it has in the past, by stepping up audience research to determine viewers' tastes, creating new programming to meet those audience needs and tastes and effectively marketing and promoting its shows.
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