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Tag: Viacom Inc

  • Cyma Zarghami exits Nickelodeon; Sarah Levy named interim head

    Cyma Zarghami exits Nickelodeon; Sarah Levy named interim head

    MUMBAI: Nickelodeon Group president Cyma Zarghami has stepped down from her position after 30 years with the network.

    While Viacom conducts a comprehensive search for a successor to lead Nickelodeon, Sarah Levy, chief operating officer of Viacom Media Networks, will lead the brand on an interim basis.

    During the transition, Levy will work closely with Nickelodeon’s leadership team to manage the brand’s operations. Their focus will be to successfully launch Nickelodeon’s largest-ever content pipeline of more than 800 new episodes and accelerate the brand’s push into new and next-generation viewing platforms, film, live experiences and consumer products, international media reports stated.

    Zarghami joined Nickelodeon in 1985 and was named its president in 2006. Under her leadership, Nickelodeon has become a leading global brand for kids, spanning linear and multi-platform programming, film, live experiences and consumer products. Along the way, Zarghami recruited and cultivated high-performing, diverse talent that always reflected the next generation of kids, and the brand continues to attract the industry’s leading creatives and personalities. Today, Nickelodeon has the highest share of total viewing in kids’ television.

    Nickelodeon, now in its 39th year, includes television programming and production in the United States and around the world, plus consumer products, digital, recreation, books and feature films. Nickelodeon and all related titles, characters and logos are trademarks of Viacom Inc., which is a premier global media brand that creates entertainment content including television programs, motion pictures, short-form content, games, consumer products, podcasts, live events and social media experiences for audiences in 183 countries.

    Viacom president and CEO Bob Bakish was quoted in a report as saying, “Over the course of her career, Cyma has played an integral role in growing Nickelodeon into the dominant force in kids’ entertainment. Her instincts for creating content and experiences that kids love have been vital to the brand’s success around the world. Looking to the future, we are excited to build on this strong foundation as we continue to evolve the business and connect with young audiences in new and innovative ways. I want to extend my deepest gratitude to Cyma for her leadership and wish her every success.”

    Viacom’s media networks, including Nickelodeon, Nick Jr., MTV, BET, Comedy Central, Paramount Network, VH1, TV Land, CMT, Logo, Channel 5 (UK), Telefe (Argentina), Colors (India) and Paramount Channel, reach approximately 4.3 billion cumulative television subscribers worldwide.

  • TV18 to increase Viacom18 stake to 51%

    TV18 to increase Viacom18 stake to 51%

    MUMBAI: TV18 will take operational control of Viacom18 Media Pvt Ltd (Viacom18), the joint venture partners in Viacom18, TV18 Broadcast and Viacom Inc, announced today. TV18 will raise its stake to 51 per cent by acquiring 1 per cent of Viacom18’s equity from Viacom Inc for a cash consideration of Rs 127 crore (USD 20 million). The brands and content licence agreement between Viacom Inc and Viacom18 will also get extended by 10 years.

    The partners believe that in the fast-evolving media and entertainment landscape in India, TV18 can drive value-addition and synergies across the multi-platform group comprising broadcast, digital, filmed and experiential entertainment and media businesses, the official release stated. Viacom continues to hold 49 per cent in Viacom18 and shares TV18’s vision for scalability and enhanced efficiency at Viacom18.

    Network18 chairman Adil Zainulbhai said, “The transaction further enables our vision for Viacom18 to accentuate its focus on excellence and integration in the broadcast and digital space. The entertainment powerhouse continues to be bolstered by Viacom’s global expertise in content creation and curation, along with Network18 group and affiliates’ strength across the media and telecom value chain.”

    “Viacom18 is one of the fastest growing companies in India’s dynamic media and technology sector and, as a result of this transaction, we believe it will be even better positioned for accelerated growth through closer integration and alignment with the Network 18 Group and its affiliates, including Jio,” Viacom International Media Networks CEO David Lynn said. “Viacom remains strongly committed to our Viacom18 joint venture with the Network 18 Group and we are retaining the vast majority of our ownership stake in the company. We’re delighted to extend our licencing deal with Viacom18 and see clear potential to expand it in live events and recreation, in line with our growing global presence in these lines of business.”

    “We turned 10 last year and our growth journey has been exciting to say the least. None of this would have been possible without the support and commitment of both our partners. This development will allow us to leverage deeper synergies with Jio as we enter our next growth phase. As India’s youngest full-play media organisation, we remain committed to winning the hearts of our audiences across all our on-air, on-line, in-store, in-theatre and on-ground businesses and enriching the digital life of every Indian,” added Viacom18 group CEO Sudhanshu Vats.

    Viacom18 started out as a broadcast business with three channels–MTV, Nickelodeon and Vh1–in 2007. Today, the broadcaster has 44 television channels across 80 countries in six languages. It has also diversified into five lines of business, spawning broadcast, digital, films, merchandise and live events. The company reported total revenue of Rs 3,040 crore in 2016-17, charting 40-fold growth in topline since inception.

    Also Read:

    Viacom18, DSport join hands for simulcast of Nidahas Trophy

    Merger talks on the anvil once again for CBS, Viacom

    Sudhanshu Vats on Viacom18’s growth strategy and why data analytics is key

  • Viacom names Julia Phelps as SVP comm & culture

    MUMBAI: Viacom Inc. has announced that Julia Phelps has been promoted to Senior Vice President, Communications & Culture. In the newly created role, Phelps will serve on the company’s senior executive team and lead corporate communications, corporate marketing and culture. Most recently, Phelps led communications for the company’s international business, Viacom International Media Networks (VIMN).

    She will continue to report to Viacom president and CEO Bob Bakish.

    “Julia has been an indispensable partner for me in developing and articulating Viacom’s strategy, while keeping us true to our values and responsive to our employees,” said Bakish. “It is absolutely critical that both our external stakeholders and our people understand and embrace our new vision for Viacom, and Julia’s insight, empathy and forward thinking make her uniquely suited to this task.”

    In her role, Phelps will oversee Viacom’s Corporate Communications, Corporate Marketing, Corporate Responsibility and Special Events teams, as well as its internal creative agency, Catalyst. Most recently, she served as Executive Vice President of Communications at Viacom International Media Networks (VIMN), where she led VIMN’s internal and external communications efforts for Viacom’s international brands, including MTV, Nickelodeon, Comedy Central, BET, Paramount Channel, VH1, COLORS and Channel 5. Previously, Phelps served as Senior Vice President of Corporate Communications for VIMN and as VP of Corporate Communications for Viacom.

    Phelps joined Viacom in 2005 from New York-based agency DeVries Public Relations. A native of Canada, she earned a B.A. in Political Science from the University of Victoria in British Columbia, and an M.S. in Strategic Communications from Columbia University.

  • AT&T unveils live video streaming service, DirecTV Now

    AT&T unveils live video streaming service, DirecTV Now

    MUMBAI: To win over subscribers who avoid pay-television subscriptions, AT&T has launched its streaming service DirecTV Now. The service will launch at prices ranging from $35 a month for over 60 channels to $70 for over 120 channels.

    The company has also announced that, for a limited time, more than 100 channels will be available for $35. The video service joins competitors like Sling TV and PlayStation Vue in drastically undercutting traditional cable and satellite packages, which often cost more than $100 per month. Dish Network launched Sling TV streaming service more than a year ago, and Sony PlayStation has its own package called PlayStation Vue. Next year, online video service Hulu plans to offer its own bundles of TV channels.

    The platform’s content will include live and on-demand video from Walt Disney, Twenty-First Century Fox, Viacom Inc and Scripps Networks Interactive. According to reports, the company is actively working to bring CBS Corp programming to its service.

    AT&T is counting on the mobile video market for new revenue as most U.S. consumers already have wireless service and further growth is limited. AT&T acquired DirecTV for $48.5 billion last year, making it the largest U.S. pay-TV operator with 25.3 million video subscribers, in an effort to diversify into the media and entertainment business.

    AT&T is also at near talks to acquire Time Warner for about $86 billion. This deal would create a media behemoth that offers TV, wireless, and the content that goes with it.

  • AT&T unveils live video streaming service, DirecTV Now

    AT&T unveils live video streaming service, DirecTV Now

    MUMBAI: To win over subscribers who avoid pay-television subscriptions, AT&T has launched its streaming service DirecTV Now. The service will launch at prices ranging from $35 a month for over 60 channels to $70 for over 120 channels.

    The company has also announced that, for a limited time, more than 100 channels will be available for $35. The video service joins competitors like Sling TV and PlayStation Vue in drastically undercutting traditional cable and satellite packages, which often cost more than $100 per month. Dish Network launched Sling TV streaming service more than a year ago, and Sony PlayStation has its own package called PlayStation Vue. Next year, online video service Hulu plans to offer its own bundles of TV channels.

    The platform’s content will include live and on-demand video from Walt Disney, Twenty-First Century Fox, Viacom Inc and Scripps Networks Interactive. According to reports, the company is actively working to bring CBS Corp programming to its service.

    AT&T is counting on the mobile video market for new revenue as most U.S. consumers already have wireless service and further growth is limited. AT&T acquired DirecTV for $48.5 billion last year, making it the largest U.S. pay-TV operator with 25.3 million video subscribers, in an effort to diversify into the media and entertainment business.

    AT&T is also at near talks to acquire Time Warner for about $86 billion. This deal would create a media behemoth that offers TV, wireless, and the content that goes with it.

  • Lower film revenue contributes to Viacom fall in Q4-16 numbers

    Lower film revenue contributes to Viacom fall in Q4-16 numbers

    BENGALURU: Impairment charges for the unreleased Monster Trucks, foreign exchange impact because of Brexit, lower affiliate revenue, lower ratings and hence lower advertising revenue along with restructuring costs were some of the major factors that contributed to a fall in numbers across important parameters for Viacom Inc., (Viacom). For its fourth quarter ended 30 September 2016 (Q4-16, current quarter), Viacom reported a 14.8 per cent decline in total revenues to $3,226 million from $3,788 million in the corresponding quarter of the previous year (Q4-15).

    Adjusted operating income for the current quarter declined to a little more than 50 per cent (declined 49 per cent) to $538 million as compared to $1,055 million in Q4-15. Operating Income declined to less than a third (31.5 per cent) y-o-y in Q4-16 to $332 million from $1,055 million in the corresponding year ago quarter. Reported operating income reflects restructuring costs related to executive severance incurred in the fiscal fourth quarter says Viacom.

    The company has two segments – Media Networks and Filmed Entertainment.

    Media Networks

    Media Networks revenue in the current quarter declined 10.9 per cent led by a decline in affiliated and domestic (US) advertisement revenue as well as forex impact due the rising dollar vis-à-vis other currencies, among them Viacom’s UK business which was effected by the downward movement of the British pound with respect to the US dollar due to Brexit.

    The Media Networks segment reported 10.9 per cent year-over-year (y-o-y) decline in revenue for Q4-16 at $2,483 from million $2,787 million reported for Q4-15.

    Media Networks advertising revenue declined 7.6 per cent in Q4-16 to $1,150 million from $1,245 million in Q4-15. The company says that domestic advertising revenues declined 8 per cent, reflecting a decline in television ratings at select networks, partially offset by higher pricing. Worldwide advertising revenues also decreased 8 per cent, reflecting the domestic decline and a 7 per cent decrease in international advertising revenues. Excluding an unfavourable 13 per cent impact of foreign exchange, international advertising revenues increased 6 per cent, resulting from continued growth in Europe.

    Affiliate revenues declined 16.3 per cent to $1,160 million in Q4-16 from $1,386 million in the corresponding year ago quarter. Viacom says that domestic and worldwide affiliate revenues decreased 19 per cent and 16 per cent, respectively, reflecting significantly higher revenues from SVOD arrangements in the prior year quarter. International affiliate revenues increased 7 per cent. Excluding an unfavourable 8 per cent impact of foreign exchange, international affiliate revenues increased 15 per cent, driven by new channel launches, increased subscribers, rate increases and the completion of certain SVOD and other OTT arrangements.

    Ancillary revenues in Q4-16 increased 10.9 per cent to $173 million as compared to $156 million reported for Q4-15.

    The segment reported a 26.9 per cent decline in operating income to $741 million in Q4-16 from $1,104 million in Q4-15. Adjusted operating income in the current quarter declined 26.6 per cent to $750 million from $1,022 million in the corresponding year ago quarter. Viacom says that Media Networks adjusted operating income decreased primarily due to the decline in revenues.

    Filmed Entertainment

    Filmed Entertainment reported 24.5 per cent decline in revenues in Q4-16 to $774 million from $1,025 million in the corresponding quarter of last year. Filmed Entertainment revenues declined 24 per cent to $774 million, driven by lower theatrical revenues due to the strong international performance of Mission: Impossible – Rogue Nation in the fourth quarter of 2015.

    Theatrical revenues in Q4-16 for the segment declined to less than half (declined 54.6 per cent) y-o-y to $203 million from $447 million in Q4-15. Home Entertainment revenue increased 22.8 per cent y-o-y in Q4-16 to $199 million as compared to $162 million. License revenue declined 12.1 per cent in the current quarter to $326 million from $371 million in Q4-15. Ancillary revenue for the segment increased 2.2 per cent in Q4-16 to $46 million from $45 million in Q4-15.

    The segment reported an operating loss of $141 million in the current quarter as compared to an operating profit of $118 million in Q4-15. Adjusted operating loss was $137 million in Q4-16 as compared to an operating profit of $122 million in Q4-15. Viacom says that Filmed Entertainment adjusted quarterly operating loss resulted from a decline in revenues and a previously-disclosed $115 million programming impairment charge.

    Company speak

    Viacom interim president and CEO Tom Dooley said, “Viacom ended the 2016 fiscal year well into our transition, as the company’s industry-leading data program increased in size and sophistication, ratings stabilized at several of our key networks and Paramount has begun to rebuild a full, dynamic slate of films. In addition, our international media networks business is stronger than ever, and we will continue to broaden our footprint and apply our successful strategies to additional territories in attractive markets. With new leadership across the company, continued investments in new content, technologies and targeted acquisitions, and an expanded Board of Directors, I have great confidence in Viacom’s next phase, as the company explores the exciting possibilities ahead.”

  • Lower film revenue contributes to Viacom fall in Q4-16 numbers

    Lower film revenue contributes to Viacom fall in Q4-16 numbers

    BENGALURU: Impairment charges for the unreleased Monster Trucks, foreign exchange impact because of Brexit, lower affiliate revenue, lower ratings and hence lower advertising revenue along with restructuring costs were some of the major factors that contributed to a fall in numbers across important parameters for Viacom Inc., (Viacom). For its fourth quarter ended 30 September 2016 (Q4-16, current quarter), Viacom reported a 14.8 per cent decline in total revenues to $3,226 million from $3,788 million in the corresponding quarter of the previous year (Q4-15).

    Adjusted operating income for the current quarter declined to a little more than 50 per cent (declined 49 per cent) to $538 million as compared to $1,055 million in Q4-15. Operating Income declined to less than a third (31.5 per cent) y-o-y in Q4-16 to $332 million from $1,055 million in the corresponding year ago quarter. Reported operating income reflects restructuring costs related to executive severance incurred in the fiscal fourth quarter says Viacom.

    The company has two segments – Media Networks and Filmed Entertainment.

    Media Networks

    Media Networks revenue in the current quarter declined 10.9 per cent led by a decline in affiliated and domestic (US) advertisement revenue as well as forex impact due the rising dollar vis-à-vis other currencies, among them Viacom’s UK business which was effected by the downward movement of the British pound with respect to the US dollar due to Brexit.

    The Media Networks segment reported 10.9 per cent year-over-year (y-o-y) decline in revenue for Q4-16 at $2,483 from million $2,787 million reported for Q4-15.

    Media Networks advertising revenue declined 7.6 per cent in Q4-16 to $1,150 million from $1,245 million in Q4-15. The company says that domestic advertising revenues declined 8 per cent, reflecting a decline in television ratings at select networks, partially offset by higher pricing. Worldwide advertising revenues also decreased 8 per cent, reflecting the domestic decline and a 7 per cent decrease in international advertising revenues. Excluding an unfavourable 13 per cent impact of foreign exchange, international advertising revenues increased 6 per cent, resulting from continued growth in Europe.

    Affiliate revenues declined 16.3 per cent to $1,160 million in Q4-16 from $1,386 million in the corresponding year ago quarter. Viacom says that domestic and worldwide affiliate revenues decreased 19 per cent and 16 per cent, respectively, reflecting significantly higher revenues from SVOD arrangements in the prior year quarter. International affiliate revenues increased 7 per cent. Excluding an unfavourable 8 per cent impact of foreign exchange, international affiliate revenues increased 15 per cent, driven by new channel launches, increased subscribers, rate increases and the completion of certain SVOD and other OTT arrangements.

    Ancillary revenues in Q4-16 increased 10.9 per cent to $173 million as compared to $156 million reported for Q4-15.

    The segment reported a 26.9 per cent decline in operating income to $741 million in Q4-16 from $1,104 million in Q4-15. Adjusted operating income in the current quarter declined 26.6 per cent to $750 million from $1,022 million in the corresponding year ago quarter. Viacom says that Media Networks adjusted operating income decreased primarily due to the decline in revenues.

    Filmed Entertainment

    Filmed Entertainment reported 24.5 per cent decline in revenues in Q4-16 to $774 million from $1,025 million in the corresponding quarter of last year. Filmed Entertainment revenues declined 24 per cent to $774 million, driven by lower theatrical revenues due to the strong international performance of Mission: Impossible – Rogue Nation in the fourth quarter of 2015.

    Theatrical revenues in Q4-16 for the segment declined to less than half (declined 54.6 per cent) y-o-y to $203 million from $447 million in Q4-15. Home Entertainment revenue increased 22.8 per cent y-o-y in Q4-16 to $199 million as compared to $162 million. License revenue declined 12.1 per cent in the current quarter to $326 million from $371 million in Q4-15. Ancillary revenue for the segment increased 2.2 per cent in Q4-16 to $46 million from $45 million in Q4-15.

    The segment reported an operating loss of $141 million in the current quarter as compared to an operating profit of $118 million in Q4-15. Adjusted operating loss was $137 million in Q4-16 as compared to an operating profit of $122 million in Q4-15. Viacom says that Filmed Entertainment adjusted quarterly operating loss resulted from a decline in revenues and a previously-disclosed $115 million programming impairment charge.

    Company speak

    Viacom interim president and CEO Tom Dooley said, “Viacom ended the 2016 fiscal year well into our transition, as the company’s industry-leading data program increased in size and sophistication, ratings stabilized at several of our key networks and Paramount has begun to rebuild a full, dynamic slate of films. In addition, our international media networks business is stronger than ever, and we will continue to broaden our footprint and apply our successful strategies to additional territories in attractive markets. With new leadership across the company, continued investments in new content, technologies and targeted acquisitions, and an expanded Board of Directors, I have great confidence in Viacom’s next phase, as the company explores the exciting possibilities ahead.”

  • Sumner Redstone pushes for CBS-Viacom merger

    Sumner Redstone pushes for CBS-Viacom merger

    NEW DELHI: The maverick Sumner Redstone, not letting age dim any of his business acumen, is at it again. Earlier this week he sent a strong message to investors and potential takeover tycoons that he favours a merger of American media companies CBS Corp and Viacom Inc.

    Redstone-family controlled National Amusements, the company that owns 80 per cent of voting shares in CBS Corp and Viacom Inc, on Thursday proposed a merger of the two entities saying it would not support the acquisition of either media company by a third party or surrender its control of either firm.

    National Amusements in a letter to both companies’ boards conveyed that a merger would “offer substantial synergies that would allow the combined company to respond even more aggressively and effectively to the challenges of the changing entertainment and media landscape,” a Reuters report, based on information from Bengaluru and New York centres, said, adding both companies acknowledged receipt of the letter.

    Redstone had split CBS from Viacom 10 years ago as investors saw CBS as a slow-moving company catering to an older audience, while Viacom, whose networks include Nickelodeon and MTV, was considered more youthful. But CBS shares have outperformed those of Viacom over the last five years.

    According to the Reuters report, Shari Redstone, Sumner’s daughter and an owner of National Amusements, has favoured recombining CBS and Viacom under the leadership of CBS Chief Executive Officer Leslie Moonves.

    But for a deal to happen, the Redstones will have to assure Moonves he will have full autonomy over the combined entity, Reuters said basing their observations on unnamed sources.

    Industry speculation that the two companies might come together again increased in recent weeks after the Redstones prevailed over a power struggle that resulted in the departure of Viacom Chief Executive Officer Philippe Dauman.

    CBS’s management and independent directors “will take appropriate actions to evaluate what is in the best interest of the company and its shareholders,” a representative told Reuters. Viacom said it expected its board to form a special committee of independent directors to consider this offer.

    In its letter, National Amusements said the optimal deal would be an all-stock transaction giving holders of each company shares in the combined entity of the same class they currently own.

    Any transaction would require the approval of both boards. Sumner and Shari Redstone will not vote on the deal as directors of Viacom and CBS or participate in deliberations, according to the letter. David Andelman, a CBS director, also will not participate in the process, the Reuters report stated.

    It is within National Amusements’ rights to refuse considering any other acquisition of either company, two lawyers familiar with the matter said on Thursday.

    In India, Viacom Inc has a joint venture with Mukesh Ambani-controlled Network18 group christened Viacom18 that oversees TV channels like MTV, Nick and Hindi language entertainment channel Colors.

  • Sumner Redstone pushes for CBS-Viacom merger

    Sumner Redstone pushes for CBS-Viacom merger

    NEW DELHI: The maverick Sumner Redstone, not letting age dim any of his business acumen, is at it again. Earlier this week he sent a strong message to investors and potential takeover tycoons that he favours a merger of American media companies CBS Corp and Viacom Inc.

    Redstone-family controlled National Amusements, the company that owns 80 per cent of voting shares in CBS Corp and Viacom Inc, on Thursday proposed a merger of the two entities saying it would not support the acquisition of either media company by a third party or surrender its control of either firm.

    National Amusements in a letter to both companies’ boards conveyed that a merger would “offer substantial synergies that would allow the combined company to respond even more aggressively and effectively to the challenges of the changing entertainment and media landscape,” a Reuters report, based on information from Bengaluru and New York centres, said, adding both companies acknowledged receipt of the letter.

    Redstone had split CBS from Viacom 10 years ago as investors saw CBS as a slow-moving company catering to an older audience, while Viacom, whose networks include Nickelodeon and MTV, was considered more youthful. But CBS shares have outperformed those of Viacom over the last five years.

    According to the Reuters report, Shari Redstone, Sumner’s daughter and an owner of National Amusements, has favoured recombining CBS and Viacom under the leadership of CBS Chief Executive Officer Leslie Moonves.

    But for a deal to happen, the Redstones will have to assure Moonves he will have full autonomy over the combined entity, Reuters said basing their observations on unnamed sources.

    Industry speculation that the two companies might come together again increased in recent weeks after the Redstones prevailed over a power struggle that resulted in the departure of Viacom Chief Executive Officer Philippe Dauman.

    CBS’s management and independent directors “will take appropriate actions to evaluate what is in the best interest of the company and its shareholders,” a representative told Reuters. Viacom said it expected its board to form a special committee of independent directors to consider this offer.

    In its letter, National Amusements said the optimal deal would be an all-stock transaction giving holders of each company shares in the combined entity of the same class they currently own.

    Any transaction would require the approval of both boards. Sumner and Shari Redstone will not vote on the deal as directors of Viacom and CBS or participate in deliberations, according to the letter. David Andelman, a CBS director, also will not participate in the process, the Reuters report stated.

    It is within National Amusements’ rights to refuse considering any other acquisition of either company, two lawyers familiar with the matter said on Thursday.

    In India, Viacom Inc has a joint venture with Mukesh Ambani-controlled Network18 group christened Viacom18 that oversees TV channels like MTV, Nick and Hindi language entertainment channel Colors.

  • Q1-2016: Viacom revenue down 6%

    Q1-2016: Viacom revenue down 6%

    BENGALURU: Viacom Inc reported 5.7 per cent year-on year (YoY) drop (reduced by $190 million) in revenue for the quarter ended 31 December, 2015 (Q1-2016, current quarter) at $3,154 million as compared to $3,344 million in Q1-2015. The company’s Media Networks segment declined 3.4 per cent YoY in the current quarter to $2,565 million from $2654 in the corresponding year ago quarter. Filmed Entertainment segment revenue declined 15 per cent YoY to $612 million from $670 million in Q1-2015. 

    Operating Income in Q1-2016 declined 10.3 per cent to $839 million as compared to $935 million in Q1-2015. Net earnings attributable to Viacom declined 10.2 per cent in the current quarter to $449 million from $500 million in the corresponding year ago quarter.

    Viacom executive chairman, president and CEO Philippe Dauman said, “As the media industry continues to evolve quickly, Viacom is generating sustainable opportunities using great new content, innovative technology, marketing and data applications, along with the benefits of our substantial footprint in key international growth markets. Our investments in new content have led to higher ratings at most of our networks, including VH1, Spike, BET, TV Land, CMT and Nick at Nite, as well as Nickelodeon, which recaptured its lead as the top network for kids 2 to 11. In addition, we saw significant sequential improvement in domestic advertising sales, due to the success of our new programming and our highly-desirable new advertising products. Paramount is off to a strong start in 2016, with a promising and diverse film lineup throughout the year, and our Paramount Television unit is also thriving.”
    “2015 was a challenging year operationally as we redesigned ourselves and adapted to significant industry disruption. Our first fiscal quarter of 2016 reflected these challenges. However, our revitalized organization and our investments in content, technology and strategic innovation are now beginning to bear fruit. Although our industry continues to face headwinds, we expect our positive momentum to continue and build throughout the year,” added Dauman.

    Media Networks

    Media Networks segment revenue has been mentioned above.

    The company says that absent an unfavourable one per cent impact of foreign exchange, Media Networks revenues decreased two per cent. Domestic advertising revenues declined four per cent, as pricing increases were more than offset by a decline in traditional ratings at some of our networks. Worldwide advertising revenues decreased three per cent, reflecting an unfavourable one per cent impact of foreign exchange. International advertising revenues declined two per cent, driven by an eight per cent adverse effect of foreign exchange. Absent the impact of foreign exchange, international advertising revenues increased six per cent, driven principally by growth in Europe. Domestic affiliate revenues were substantially flat due to the impact from the timing of product available under certain distribution agreements. International affiliate revenues decreased six per cent, driven by a nine per cent unfavourable impact of foreign exchange. Absent the impact of foreign exchange, international affiliate revenues increased three per cent.

    Filmed Entertainment

    Filmed Entertainment segment revenue has been mentioned above.

    Filmed Entertainment revenues decreased as an increase in license fees was more than offset by declines in theatrical and home entertainment revenues. Excluding foreign exchange, which had a three per cent unfavourable impact, worldwide revenues declined 12 per cent. Worldwide theatrical revenues decreased $75 million in the quarter, as carryover revenues decreased $46 million, principally due to an unfavourable comparison with the strong performance of Teenage Mutant Ninja Turtles in the first fiscal quarter of 2015. Worldwide home entertainment revenues decreased $77 million in the quarter, primarily reflecting a comparison with carryover revenues from Transformers: Age of Extinction in the first quarter of 2015. License fees increased 25 per cent, to $237 million in the quarter, primarily driven by the licensing of certain titles for subscription video-on-demand services and television.