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Crown Media Holdings Announces Operating Results For Third Quarter Of 2012

Stocks in this article: CRWN

Crown Media Holdings, Inc. (NASDAQ:CRWN) today reported its operating results for the three and nine months ended September 30, 2012.

Operating Highlights

  • Strong Operating and Financial Results. Adjusted EBITDA increased 32% to $31.3 million for the quarter ended September 30, 2012 compared to the same period last year, due to a 4% increase in total revenues combined with an 8% decrease in programming costs and marketing reductions for the quarter.
  • Completed 2012/2013 Upfront Negotiations. We have concluded our 2012/2013 Upfront negotiations (fourth quarter of 2012 through third quarter of 2013), securing double digit increases in total Upfront sales versus a year ago. CPM (cost per thousand impressions) increases were locked in at mid-single digits, with first-time advertisers paying over 22% higher CPMs than the incumbent average.
  • Solid Scatter Pricing Increases for Hallmark Channel and Hallmark Movie Channel. Both Hallmark Channel and Hallmark Movie Channel secured scatter pricing above CPM increases previously secured in the 2011/2012 Upfront. Hallmark Channel’s scatter CPMs are up 53% while Hallmark Movie Channel’s scatter CPMs are up 51% compared to the 2011/2012 Upfront.
  • Hallmark Movie Channel Continues Growth in Key Demo. Hallmark Movie Channel’s October 13 th premiere of “The Seven Year Hitch” — the network’s final original movie of 2012 — reached a new high for the network as its most watched original premiere among women 25-54 to-date according to Nielsen.
  • Ratings Successes for Hallmark Channel. According to Nielsen, the September 8 th premiere of Hallmark Channel’s original movie, “Puppy Love”, was highest rated original premiere for 2012 to-date and the #1-rated ad-supported cable movie of the day and the week. That entire week, September 3 rd through 9 th, marked the network’s 2 nd highest week of the year among women 25–54 in primetime. This upward trend continued into the following week, September 10 th – 16 th, which became the network’s 2 nd highest week of the year among women 25-54 for total day delivery.

“Crown Media saw a positive third quarter with solid increases in EBITDA and advertising revenue,” said Bill Abbott, President and CEO of Crown Media Family Networks. “During the third quarter, our family-friendly programming continued to be of high value to advertisers and viewers despite strong competition from the Summer Olympics. The September 8th premiere of Hallmark Channel original movie, “Puppy Love”, was the network’s highest rated original premiere for 2012 to-date while Hallmark Movie Channel’s October 13th premiere of “The Seven Year Hitch” was the most watched original premiere among women 25-54 in the network’s history. We are confident in our ability to capitalize on the strength of our brand during the upcoming holiday season and look forward to our holiday programming schedule, and to achieving our fourth quarter revenue goals.”

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