In Q2 of this year, Discovery Communications’ revenue rose 21 percent year-over-year to $3.06 billion, with earnings per share at $1.01, exceeding Wall Street predictions of $2.97 billion in revenue and 85 cents earnings. The company also revealed that, at the end of Q2, it had 17 million direct-to-consumer customers that increased to 18 million last Tuesday after airing the Olympics in Europe. Its Q2 U.S. ad revenue also rose 12 percent year-over-year while international ad revenue skyrocketed 70 percent, ahead of 2019 levels. Read more

NEP Group is buying three companies in order to offer virtual production (VP) services for films, TV and interactive exhibits. Prysm Collective, Lux Machina and Halon Entertainment will form NEP Virtual Studios, a new division that, says NEP Group chief strategy officer Carrie Galvin, will be “a technical and creative services partner for content creators around the globe.” She added that NEP’s existing virtual production tools “start at the creative stage” and include special effects, augmented reality, and LED stages. Read more

In Q2 of this year, ViacomCBS — parent company of the CBS broadcast network, Showtime, Nickelodeon and the Paramount movie studio — saw revenue rise 8 percent to $6.6 billion and the addition of 6.5 million new streaming subscribers for a total of 42+ million. Net income was $1.04 billion or $1.56 per share, compared with $481 million or 78 cents per share year-over-year. Chief executive Bob Bakish said the company looks forward to scaling Paramount+ offerings, referring to a deal with Comcast to launch it on Sky in Europe. Read more

WarnerMedia’s ad sales division is launching House of Max in Q4 this year to develop commercials that incorporate characters and concepts from its various HBO Max series. WarnerMedia senior VP of entertainment marketing solutions Maureen Polo said the studio’s “wide array of programs” will “allow brands to make more thoughtful and meaningful connections” with consumers, adding “we can produce content that doesn’t feel like advertising.” Intellectual property will be available from programs including “Hacks,” “The Flight Attendant,” and “Gossip Girl.” Read more

NBCUniversal has merged its FandangoNOW on-demand movie and TV platform with Vudu, the video streaming service it purchased from Walmart last year. FandangoNOW customers will be able to transfer their accounts and collections to Vudu, which uses Roku Pay as its in-app payment system. In a revenue-sharing deal, the new Vudu-branded offering will serve as Roku’s official film and TV store. Fandango executives concluded that Vudu had a stronger brand and that the merger would help to “rapidly innovate and make bolder, faster enhancements to benefit consumers and partners.” Read more