▪️Scripps Networks Q3 segment profit was ~$50 million.
▪️Local Media segment profit was $75 million. Local Media distribution revenue was up 20% to $198 million, fueled by renewals in Scripps' cable and satellite agreements.
$SSP #Q3earnings
https://t.co/gH5L7LQN3b
“Linear TV, specifically broadcast TV, is made for [live sports]. The leagues know it, the teams know it, the fans know it and so do the distributors and advertisers - And that’s the reason Scripps is leading the broadcast renaissance in live sports.” -@asymson #ScrippsSports
.@asymson on #ScrippsSports: "We are creating new value by tapping into the passion Americans feel for their favorite teams, athletes & their love of the game. This passion has an unparalleled ability to unify us ... to bring us in front of the TV and to do it in real time."
.@EWScrippsCo reported Q2 2023 results that nearly all met or exceeded expectations set in May, w/a significant beat on company segment profit driven by stronger-than-expected revenue in the Scripps Networks segment.
View full $SSP #Q2earnings results at https://t.co/9jmvvO1tn2.
"Over the last five years, the company’s moves to dramatically enhance our scale in television have more than doubled revenue, more than tripled segment profit and expanded margins, leaving us well-positioned to benefit from the inevitable return of the ad market." -@asymson
“The media business is changing dramatically, as it has done many times over our company’s 145-year history. Our aggressive but steady approach to navigating the convulsions has proven to create value time and again for shareholders, just as I am confident it will now."-@asymson
For the first quarter, @EWScrippsCo Local Media segment profit was $46 million. Segment profit for Scripps Networks was $52 million.
Read the full $SSP #Q1earnings earnings results: https://t.co/gH5L7LQN3b.
"@EWScrippsCo is doing what it has done well time and again over its 145-year history – creating shareholder value. ... We will move into the next economic upturn as we have in the past - stronger, with a better operating profile, stronger margins & greater growth ahead.” (2/2)
"@EWScrippsCo's recent sports distribution announcements, the scale of our national news brand @scrippsnews and the opportunity we see ahead with our spectrum should catch investors’ attention. "
-@asymson $SSP #Q1earnings
(1/2)
“We’re positioning @EWScrippsCo to capture opportunities in three principal ways:
1) Industry growth areas of news, sports and entertainment
2) Existing and emerging TV distribution platforms
3) Datacasting and other businesses enabled by ATSC 3.0."
-@asymson
$SSP #Q1earnings
"Two of the deals we’ve been working on are now public. ... While the @WNBA deal takes advantage of our national reach, yesterday’s announcement with the @GoldenKnights is intensely local." (2/2) -@asymson
#Q1earnings $SSP #ScrippsSports
“Less than six months ago, we launched #ScrippsSports, seeing the opportunity to leverage our unparalleled national reach and local market depth. Free OTA broadcast, and all that comes with it, is the most ubiquitous and fan friendly of distribution platforms." (1/2) -@asymson
“We see the right live sports as opportunity to drive the value of our linear television streams even higher. Locally, live sports will draw young new audiences to our brands as fervent fans employ digital antennas to watch their favorite local teams, for free again." (2/2)
.@EWScrippsCo CEO @asymson on #ScrippsSports:
"Our ubiquitous over-the-air, pay TV and CTV reach through ION and the Scripps Networks has immense appeal for leagues looking to build new and consistent franchise viewing events across a national footprint." (1/2) #Q4earnings
"[Our reorg] is a proactive plan that recognizes the power of our distribution platform and Scripps’ commitment to capitalize on the chaos in the media marketplace to drive greater profit from the disruption, in support of our mission to serve the American people." – @asymson
"We are confident that our strong portfolio of quality network brands, our broad distribution on every viewing platform and our full nationwide audience reach, positions us well to capitalize when the national ad market rebounds." – @EWScrippsCo COO @scrippsKnutson#Q4earnings
Local Media revenue was up 24%, driven by political advertising and distribution revenue. In the Scripps Networks division, Q4 2022 revenue was $248 million, down about 9% from the prior-year quarter, reflecting softness in the national advertising marketplace. $SSP #Q4earnings