Viacom reports 3.7% drop in quarterly revenue

Viacom Inc., an American multinational media conglomerate with interests primarily in film and television, reported a 3.7 percent fall in quarterly revenue on Thursday due to a drop in domestic advertising sales and fees it collects from cable TV operators.

Net income attributable to Viacom, which is exploring a merger with CBS Corp, fell to $522 million (405.6 million pounds), or $1.29 per share, in the third quarter ended June 30, from $683 million (530.6 million pounds), or $1.70 per share, a year earlier.

Total revenue fell to $3.24 billion (2.5 billion pounds) from $3.36 billion (2.6 billion pounds).

Globally, Viacom Media Networks reach approximately 4.3 billion cumulative television subscribers through leading brands including Nickelodeon, MTV, BET, Comedy Central, Paramount Network (SPIKE), VH1, TV Land, CMT and Logo. program services created specifically for international audiences include Channel 5 (U.K.), Telefe (Argentina), Colors (India) and Paramount Channel.

Many years ago in Nigeria, the company had broaden its entertainment offering on DStv across Africa with the launch of two new 24-hour kids and family channels from Nickelodeon.

The company delivers more TV channels than any other international media company on the continent, with a total of eight distinct entertainment brands as if 2014.

This expansion of its portfolio, which also includes MTV, MTV Base, Comedy Central, Nickelodeon and VH1 Classic, is said to increase VIMN Africa’s offering of high quality content to audiences across all key age demographics.