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Versant Posts Mixed Q2 Results As Advertising Trends Show Improvement
['Dade Hayes']
Deadline
Versant delivered mixed results in its second quarter after spinning off from Comcast, with revenue and earnings per share both declining from the year-ago period.
Over the long term (the company hasn’t specified a date), Versant hopes to achieve a 50-50 revenue split from linear TV and digital.
The company’s Platforms division posted $212 million in revenue, which was up a fraction from a year ago.
Not counting SportsEngine, a property Versant sold off during the quarter, revenue in the platforms unit grew 9%.
Linear distribution revenue fell 6% to $954 million, with the company saying subscriber declines were offset by contractual rate increases.