HGTV becomes Scripps’ first $1 billion network

HGTV hits 1 billion in revenue

HGTV has become the first $1 billion network for Scripps Networks.

Scripps recorded $3 billion in total revenue for all of its networks in 2015, but the big winner was HGTV which reached $1 billion in annual revenue.

In its fourth-quarter earnings report Tuesday, the company included a table that showed HGTV’s 2015 revenue hit $1.01 billion.

That’s a 7.4% increase from the networks $938.5 million in 2014. HGTV reported $879 million in 2013 and $786.3 million in 2012.

Executives at the network said popular shows such as Fixer Upper and Property Brothers helped draw in larger audience and keep their attention.

HGTV has been the Scripps network with the highest revenue since 2013 when it overtook the Food Network. For 2015, the Food Network posted revenue of $891.6 million.

Shares at the company were up 6.05% at 12:38 PM EST.

Scripps Network Shares

Here are the company’s other network revenues:

  • Travel Channel: $309.2
  • DIY Network: $167.4 million
  • Cooking Channel: $134.8 million
  • Great American Country: $30.5 million.
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The company’s record $3 billion in revenue for 2015 was up 13.2% from 2014.

Scripps on Tuesday reported fourth-quarter earnings of $164.7 million, or $1.27 per share. That was up 25 percent from $131.8 million in the year-ago period, or 96 cents per share.

“These results exemplify the strong and consistent execution of our strategy at Scripps Networks Interactive,” said Scripps CEO Ken Lowe.

“Our core television lifestyle networks are growing in demand by viewers and advertisers, while our international expansion continues to make a significant contribution to the overall robust health of the company.”

Written by John Howard

John Howard

John Howard is the Business Editor at BusinessPundit.com. He is an avid watcher of markets, a wallflower of retail, and a fan of disruptive businesses that utilize technology and unique ideas to form brilliant new ways of doing business. He can be reached at Student Loan Ninja