Double-Digit Revenue Gains at Scripps

KNOXVILLE: Scripps Networks Interactive recorded fourth-quarter revenues of $573 million, with ad revenues up 23 percent and affiliate fee revenues up 61 percent.

The company noted a year-on-year gain of 33 percent in overall revenues. Excluding Travel Channel, which joined the Scripps portfolio in December 2009, revenues were up 20 percent to $504 million.

Advertising revenue in the period was $358 million, while affiliate fee revenue was $139 million. Excluding the Travel Channel, advertising revenue increased 11 percent and affiliate fee revenue increased 39 percent.

"The power of our lifestyle television networks and related content businesses is evident in the company’s superior operating results," said Kenneth W. Lowe, chairman, president and CEO of Scripps Networks Interactive. "The high level of engagement that consumers have with our targeted television and Internet brands led to exceptional growth during the fourth quarter and for the full year 2010."

He continued, "Food Network and HGTV are consistent fan favorites and valuable marketing platforms for an ever-expanding list of prestigious advertisers. And at Travel Channel, just a year now under our direction, we’re attracting a bigger and younger audience than ever before. Looking ahead, we’ll be unveiling a wealth of exciting new programming ideas and concepts across all of our networks that we believe will further define and secure our competitive advantage as leader in lifestyle programming."

For the full year, operating revenues were up from $1.5 billion to $2.1 billion, with net profit rising to $411 million. Looking ahead to its 2011 financials, Scripps forecasts a revenue hike of between 10 percent and 12 percent. It also sees programming expenses rising 6 percent to 9 percent. Scripps expects to record an operating loss on its international operations of between $5 million and $10 million.