Discovery Sees Profitability in the Future for Oprah's OWN THR
Oprah Winfrey’s sputtering OWN cable network “remains on track” to reach profitability during the second half of 2013, Discovery CEO David Zaslav said today, according to The Hollywood Reporter. Discovery is a partner in OWN.
The company previously projected that OWN would reach the break-even point in cash flow during the second half of 2013 and would then show profits, the report notes.
“During the cable network group's earnings conference call on Tuesday, Zaslav said that after a 14 percent ratings gain in the first quarter in its core audience of women 25-54, OWN grew viewership around 20 percent in the latest period,” the piece reports. “And so far in the third quarter, ratings are up more than 50 percent, he added. Overall, that leaves the channel up about 25 percent year-to-date.”
Winfrey has been more of a presence on the channel, including conducting recent high-profile interviews with Kim Kardashian and others.
The report adds: “Zaslav also told analysts that all eight charter advertisers of OWN during the recent upfront ad sales period re-upped with the network. He said that and the recent ratings that have been exceeding expectations keep OWN on track to turn the profitability corner during the second half of next year.”