Viacom CEO Phillipe Dauman says the company continues “to feel the macronomic effects” in its advertising business, due mainly to weakness in auto, beverage, and video game advertising. Fewer film releases also hurt.
Softness in the overall advertising market contributed to a 2% decrease in worldwide advertising revenues to $1.16 billion in the quarter. Domestic advertising revenues declined 3% due in part to ratings softness at certain channels.
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