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Discovery Passes 11M Streaming Subscribers, Topping Estimates, But Q4 Revenue Stalls On Pay-TV Fade – Deadline

Discovery stated it has handed 11 million direct-to-consumer streaming subscribers and can attain 12 million by the tip of February, a achieve of about 7 million subscribers since December.

The dad or mum of cable networks HGTV, TLC, Meals Community and the Discovery Channel launched streaming service Discovery+ on January 4 within the U.S. and is rolling it out globally. Executives haven’t offered a selected goal variety of subscribers however have described the service as a legitimate complement to Netflix, which has surpassed 200 million paying prospects around the globe. Verizon has signed on as a key distribution accomplice, bundling one 12 months freed from Discovery+ with many buyer plans.

The streaming numbers got here as the corporate reported flat income for the fourth quarter of simply shy of $2.9 billion and diluted earnings of 76 cents a share. The income quantity exceeded Wall Road analysts’ forecasts, whereas the earnings undershot expectations.

The consensus forecast by analysts for streaming was 10.5 million subscribers.

A 5% rise in home distribution income offset a dip in worldwide distribution and advert income.

Promoting was flat, with the corporate saying that larger pricing and monetization of content material on new platforms like streaming have been offset by “secular declines within the pay-TV ecosystem and decrease scores.”

Shares in Discovery have not too long ago set an all-time excessive above $50. They have been up 2% in pre-market buying and selling.

“Our unmatched international scale and skill to serve shoppers in all places with a very differentiated providing throughout platforms, in addition to our strong money flows, even amidst the numerous investments in our subsequent era initiatives and the continuing COVID-19 pandemic, place us to attain sustainable long-term progress and drive long-term shareholder worth,” CEO David Zaslav stated within the firm’s earnings launch.

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