Versant Media CEO Mark Lazarus said MS NOW is not experiencing viewer fatigue, following comments from Fox Corp. CEO Lachlan Murdoch about fatigue affecting Fox News. Speaking during Versant’s quarterly earnings call Tuesday, Lazarus said audiences for MS NOW and CNBC were “active and vibrant and growing.”
Lazarus credited the networks’ programming, on-air voices and viewer trust in their brands and talent. He said MS NOW’s goal is to attract more viewers with a range of perspectives and coverage that is welcoming, interesting and informative. He also suggested some viewers were trying the network and spending more time with it after leaving other outlets.
Versant reported third-quarter revenue of $1.59 billion, down 4% from a year earlier but above analysts’ consensus estimate. Earnings per share came in at 34 cents, also beating estimates. The company owns former NBCUniversal cable networks and digital properties including Fandango, and spun off from Comcast last January.
MS NOW ranked as the second-most-watched cable network during the quarter, according to Versant, with viewership up by double digits as midterm election coverage increased. September marked the network’s 11th consecutive month of audience growth. Versant also said MS NOW was the top news organization on YouTube during the quarter and had generated more than 105 million podcast downloads year to date.
The network recently launched a standalone streaming service priced at $7.99 a month. Lazarus said Versant was confident it could operate a profitable streaming business, while noting that the rollout is at an early stage in a multi-year process. He said the linear channel would be only part of the service’s value, with plans to build community and offer exclusive content, insights, information and access.
Lazarus said carriage agreements covering 75% of Versant’s video subscriber base are secured into 2028 and beyond. The company expects non-linear television sources to account for most of its revenue over the longer term, though traditional cable remains a key financial engine for now. Advertising revenue fell 5% in the quarter compared with a year earlier, partly reflecting the prior-year comparison with golf’s Ryder Cup.
Sources: Deadline.