OWN: Oprah Winfrey Network Finally Turns A Profit
In May of this year, David Zaslav, CEO, Discovery Communications, stated that OWN: Oprah Winfrey Network would turn a profit for the first time at some point later this year. The network, which launched January 1, 2011 as a replacement of the Discovery Health Channel, has done it ahead of schedule.
Citing “The Haves and the Have Nots” and “Love Thy Neighbor” as “bona fide hits,” which together have increased the networks standings in the all important key Women 25-54 demographic by 39%, Zaslav announced during a conference call this morning that the network was “cash flow positive” in the just completed second quarter (June 2013). Additionally, OWN experienced the highest growth of any cable network in the quarter aided by gains in advertising and an increased subscriber base.
Available in more than 80 million cable and satellite television equipped homes, the good news at OWN kept on coming with word that the third season premiere of “Welcome to Sweetie Pies” on Saturday, July 27 registered the series its highest ratings ever. “Pies” averaged 1.1 million viewers and a 1.0 rating in the Women 25-54 sales demo, according to Nielsen Media Research data.
Information on the success or non-success of “All My Children” and “One Life to Live,” which began airing on OWN on July 15, will not be indicative until the completion of the third quarter in the coming months.