Discovery Q2 Sales Beat Expectations; U.S. Ad Sales Down 14% As Networks Gain Share During COVD-19

deadline.com:

Jill Goldsmith Co-Business EditorDiscovery Inc. saw second quarter U.S. ad revenue dip 14% on lower demand stemming from COVID-19 but its portfolio of networks gained share in primetime with TLC delivering its best quarter ever, the company said Wednesday.The dip in the U.S.

was also due in part to secular declines in the pay TV ecosystem and lower inventory — offset by higher overall ratings and pricing.

U.S. distribution revenues increased 7% (or 2% without certain one-time items) on increases in contractual affiliate rates.The company’s roster includes Discovery Channel, HGTV, Food Network, TLC, Investigation Discovery, Travel Channel, MotorTrend, Animal Planet, Science Channel, and the forthcoming multi-platform JV with Chip and Joanna.