Versant Media Group reports mixed Q1 results with traditional pay TV revenue down 7% and licensing revenue up 113.5%.
Versant Media Group posted a 7% decline in first-quarter linear distribution revenue to $1.01 billion, driven by pay TV subscriber losses partially offset by rate increases. Advertising revenue fell 5% to $368 million, an improvement from last year’s 12% drop.
Content licensing revenue surged 113.5% to $121 million, fueled by deals including the licensing of *Keeping Up With the Kardashians* to Hulu. The company highlighted viewership gains for CNBC and live sports but noted over 80% of revenue still comes from pay TV.
Executives reiterated plans to rebalance revenue toward digital and platform businesses, aiming for a 50-50 split long-term.