Despite weaker national TV advertising results, U.S. advertising revenues brought Fox cable networks (a 21st Century Fox subsidiary) double-digit percentage gains, based on its latest reporting period (quarterly financial results, ending December 31).
Fox garnered 11 percent gain in advertising revenue compared to the previous quarter. Domestic affiliate revenue grew 19 percent.
Local television stations witnessed an increase in political advertising revenue growth. Meanwhile, TV revenues turned flat at $1.623 billion compared to $1.630 billion from the same period last year.
21st Century Fox’s cable network business segment saw its revenues improve by 14 percent to $3.4 billion. The broadcasting business segment, which includes its TV stations and broadcast network, saw its advertising revenues decline by 3 percent.
The filmed entertainment segment’s ad revenues rose 11 percent to $2.8 billion, thanks to spectacular gains from its theatrical releases, such as “Gone Girl” ($365 million) and “The Maze Runner” ($340 million worldwide revenues). Fox noted that it hit an all-time, global box-office industry record with more than $5.5 billion for the entire year of 2014.
Revenues for the entire company of 21st Century Fox saw a 10 percent improvement to $7.42 billion, while the adjusted total operating since before depreciation and amortization advanced 12 percent to $1.7 billion.
Fox Entertainment Group, Inc, an American entertainment industry firm, operates its business via four main segments, which include television stations, television broadcast networks, filmed entertainment, and cable network programming. It is a wholly owned and controlled company under American media conglomerate 21st Century Fox that is chaired and part owned by Australian-born billionaire and American media proprietor Rupert Murdoch. The company is named after William Fox (born Wilhelm Fuchs) who founded the original Fox Film Corporation.
The FOX cable network programming lineup includes Fox Business Network, Fox News Channel, Fox Sports 1, FX, FXX, Fox on Demand, Nat Geo Mundo, and Nat Geo Wild, among many others.