Revenue rose 10% to $3.85 billion at CBS in the first quarter, fueled by ad gains from the Super Bowl and an additional National Football League game at its broadcast network.
One additional NFL game in the quarter and Super Bowl 50 helped push the broadcaster into its best first quarter ever revenue-wise. Overall advertising revenue was up 31% and rose 49% at the network, while operating income increased 14%. Affiliate and subscription fee revenue was up 15%, driven by a 42% increase in retransmission consent.
At the entertainment division, which includes the CBS Television network and the CBS Television studios among its assets, revenue increased 14% to $2.59 billion.
At the cable properties, which includes CBS Sports, Showtime and Smithsonian Networks, revenue declined 2.6% to $525 million from $539 million in the prior year, which included a one-time benefit from a multiyear licensing agreement with Bell Media in Canada. Operating income at the cable networks was down 9.2% to $228 million from $251 million in the prior year, reflecting lower international licensing revenue and incremental costs associated with the 2016 series premiere of Billions on Showtime.
“CBS delivered a spectacular quarter as we continue to execute on our strategy of creating and distributing the content that audiences have to have,” chairman and CEO Les Moonves said in a statement.
