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DVDs, Video Games Boost Viacom Profits

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First Posted: 02-29-08 07:52 AM   |   Updated: 03-28-08 02:46 AM

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Read More: Mtv, Philippe Dauman, Rock Band, Transformers, Viacom, Viacom Profits, Business News
Viacom

MTV owner Viacom Inc. reported a 16 percent gain in fourth quarter earnings Thursday and said its advertising business hadn't been hurt by the slowdown in the economy.

Philippe Dauman, Viacom's chief executive, told analysts on a conference call the company also benefited from a shift of ad dollars to cable from broadcast during the just-concluded writers' strike, which sent many prime-time scripted dramas and late-night talk shows into reruns.

Dauman said Viacom met its goal of increasing U.S. ad revenue by 7 percent in the quarter, and expected about the same results for the first quarter of 2008.

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Read about how sales were boosted by sales of video games like "Rock Band" and DVDs of films such as "Transformers."

MTV owner Viacom Inc. reported a 16 percent gain in fourth quarter earnings Thursday and said its advertising business hadn't been hurt by the slowdown in the economy. Philippe Dauman, Viacom's chief...
MTV owner Viacom Inc. reported a 16 percent gain in fourth quarter earnings Thursday and said its advertising business hadn't been hurt by the slowdown in the economy. Philippe Dauman, Viacom's chief...
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