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Q2 2016 – Discovery Communications Earnings Call Summary


Below are my key takeaways from the Discovery Communication Q2 2016 Earnings Call on Aug 2:


CEO David Zaslav’s opening statement: “Discovery Communications had another quarter of strong operating and financial results as we remain focused on maximizing our global linear TV business, strengthening our position on digital and direct to consumer platforms and controlling our cost base.   A key element of Discovery’s growth profile is our continued success in securing long cycle distribution agreements that provide for steady and predictable revenue growth and the optionality for windowing our content on existing and new and platforms

Total revenue in the quarter grew 3% to $1,708MM, but up 6% when excluding negative effects of currency.  The increase was mainly due to US Distribution and US Advertising. International revenues fell 1% to $790MM, but when excluding currency effects and the sale of SBS Radio, revenue was actually up 8%.  International distribution growth is returning to a double digital increase for full year 2016.  US and international affiliate revenues represent 50% of total revenue – growth is locked in for the near future.

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