Viacom's digital surprise
Looking for a hot new-media startup? You'd be hard-pressed to find one that's doing better than Viacom's digital operations. Most media outlets missed the news in the company's second-quarter earnings, but as PaidContent.org notes, Viacom's digital revenues rose 58 percent year-over-year to $51 million. Despite all the buzz about News Corp.'s MySpace, Viacom's online properties like Nick.com, Neopets and Xfire look set to make about as much money as Rupert's much-hyped social-networking site. Seems like people want their MTV.com.

And Viacom's digital empire is set to expand. In the earnings call, CFO Michael Dolan said that yesterday's $200 million purchase of online-video website Atom Entertainment should pay off quickly as Viacom's sales force starts to sell ads for the site. There's also Viacom's rumored interest in Bebo, a MySpace rival. The Lost Remote blog notes that CEO Tom Freston believes that digital operations could make up 5 percent of revenues by the end of the year. Not too shabby for an old-media outfit.
Posted by Owen Thomas 11:56 AM 0 Comments comment | Add a Comment

To send a letter to the editor about The Browser, click hereTop of page

Got a news tip? Send it to The Browser


Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.