CINCINNATI—Scripps today announced that TV antenna sales have increased by 30% in the 13 markets where it launched a marketing campaign to promote free TV last summer. The company announced the results during its third-quarter financial statements in which it reported an overall 10% increase in revenue, fueled by CTV and political ads.
Scripps Chairman and CEO Adam Symson said the $20 million campaign is part of the station group’s effort to promote both old and new ways to access free-to-air, funded television. The advertisement.
“Scripps’ impressive 10% revenue growth in the third quarter was fueled in part by the company’s cross-platform distribution strategy to ensure viewers can find our high-quality programming content wherever they watch. television,” Symsom said. “We have now launched our ad-supported free-to-air television (FAST) networks on major connected TV services, and in the third quarter this paid off with a solid overachievement of Scripps Networks revenue expectations. We are just getting started and expect this strategy to fuel continued revenue growth at an impressive rate.
“In the midst of an economic climate that challenges spending and consumer confidence, Scripps is leveraging its leadership in free-to-air television for the benefit of the company and shareholders,” added Symson. “Pay-TV prices are rising, on-demand subscription services have almost doubled in price, and the TV market is more confusing than ever for the consumer. It’s clear from the results of our early initiatives that Americans are looking to add a free and easy option: TV broadcasting. We are very pleased to see our marketing efforts begin to increase antenna sales. Because we already capture nearly a third of all live viewing, one use antennas means more consumers are spending time with our nine Scripps networks and local broadcast stations.
Scripps earned $208 million in political ad revenue, topping its 2018 midterm results. Connected TV (CTV) revenue rose 57% year-over-year as the division launched more of channels on major streaming services. The division expects to achieve an annual run rate of more than $100 million in CTV revenue next year.