Versant Media beats revenue estimates on digital growth
Versant Media reported first-quarter revenue of $1.69 billion, beating estimates as licensing gains offset cable declines. The firm also plans a share buyback.
Versant Media Group Inc beat first-quarter revenue estimates on Thursday, reporting $1.69 billion against analyst expectations of $1.62 billion. The United States-based Comcast spinoff's results show digital growth and licensing deals are successfully offsetting traditional pay-TV subscriber declines. This performance matters because it demonstrates whether the company can sustain profitability as cord-cutting accelerates.
### Licensing and Digital Growth Offset Cord-Cutting Content licensing revenue surged 112.3% to $121 million during the January-March period, driven by the licensing of library titles like Keeping Up with the Kardashians to Hulu. Total platform revenue rose 9.1% to $192 million, supported by strong ticketing sales at Fandango.
