Discovery, led by CEO David Zaslav, said on Monday that it has reached more than 11 million paying subscribers worldwide to its direct-to-consumer services, including Discovery+, and would hit 12 million at the end of February.
In its first earnings report since the Discovery+ launch about seven weeks ago, the company also reported that U.S. advertising revenue in the fourth quarter of 2020 improved to come in roughly unchanged compared with the year-ago period., in line with Wall Street expectations. "Advertising was flat as higher pricing and the continued monetization of content offerings on our next generation platforms were offset by secular declines in the pay-TV ecosystem and lower ratings," the firm said.
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