On November 9th, Viacom held their Q3 2016 (technically their Q4, full year) earnings call. Here are the highlights
Change in Leadership:
Tom Dooley, the current CEO, will step down next week. Robert Bakish, who managed Viacom’s international business, will take over.
Financials – Total:
Full year total revenue of $12.5B was 6% lower than the $13.3B in FY 2015. Total revenue for the quarter was $3.2B down 15% YoY.
Below are my key takeaways from the Viacom Q3 2016 Earnings Call on Aug 4:
Summary:
Philippe Dauman, CEO, said “Viacom continues to focus on making progress against our strategic plan.”
Revenue for the third quarter of fiscal 2016 was up 1.6% to $3,107MM, but Operating Income fell 29.1% to $769, due to programming costs and declines in ad revenues.
Signed long term carriage agreements with Cox and Dish , both with solid rate increases. The deal with Dish will see various Viacom channels, such as MTV, Comedy Central and BET, appear on Dish’s Sling TV streaming service.
Unveiled Viacom Vantage, a data-driven ad product that enables advertisers to reach their custom targets at the program level across the Viacom Media Networks portfolio. Will triple the number of Vantage deals to 35-40.
Continue reading “Q2 2016 (their Q3) – Viacom Earnings Call Summary”
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