Q1 sales at Viacom gained 20 percent to $3.26 billion and...
Q1 sales at Viacom gained 20 percent to $3.26 billion and profit increased 53 percent to $376 million, the company said Thursday. “We attracted new advertisers in the quarter and expanded the reach of our content onto new distribution platforms,”…
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said CEO Philippe Dauman. MTV’s Jersey Shore helped boost that network’s prime time ratings almost 65 percent, which helped results, Dauman said. Sales at the company’s studio, Paramount, gained 38 percent to $1.2 billion while revenue at Viacom’s pay-TV networks gained 11 percent to $2.1 billion. “Despite the impressive revenue increase in Film, margins were still less than 5 percent, indicative of the challenges facing the studio,” said Gimme Credit analyst Dave Novosel in a note to investors.