Crown Media net revenue spurts 52% to $40.1 million in Q3

Our Convergence Bureau
07 November 2002

Mumbai: Crown Media Holdings has reported its operating results for the three months ended 30 September 2002.

Crown Media’s net revenue in the third quarter of 2002 increased 52 per cent to $40.1 million, from $26.3 million in the prior year’s quarter. Advertising revenues for the quarter totalled $18.2 million — an increase of 103 per cent from the third quarter of 2001.

Hallmark Channel subscribers increased 15 per cent to 95.7 million worldwide as of 30 September 2002 from 82.9 million subscribers as of 30 September 2001. The channel ended the quarter with 47.5 million subscribers in the US and 48.2 million international subscribers across 110 countries.

Subscribers of the company’s domestic channel increased 20 per cent, and subscribers of its international channel increased 12 per cent over the third quarter 2001. The Hallmark Channel in the US has achieved significant growth in terms of viewership during 2002. For the 12 months ended 30 September 2002, Hallmark Channel was the fastest growing cable network in the US based on subscribers.

During the third quarter, the channel premiered the two-part Hallmark Entertainment-produced Johnson County War, which became the network’s second highest rated original mini-series. The total day viewership increased by 50 per cent for female adults (25 to 54) as compared to the third quarter of 2001.

Beginning November 2002, Hallmark Channel US will launch the Hallmark Keepsake Sweepstakes in conjunction with approximately 4,500 Hallmark Gold Crown(R) stores. This national promotion, the largest ever between a cable channel and a retail network, will include the broadcast of five world premiere holiday events from mid-November through Christmas. Over 140 million game pieces will be distributed and more than 2 million prizes will be given away in this holiday ‘match and win’ contest.