finance
Versant Reports $1.69B Q1 Revenue, Below Estimates, as Pay-TV Declines Continue
Versant, spun out from Comcast earlier in 2026, posted first-quarter revenue that beat Wall Street expectations even as its traditional pay TV business continued to shrink. Content licensing surged 113.5 percent on deals that included 'Keeping Up With the Kardashians' content for Hulu. CEO Mark Lazarus highlighted gains in digital platforms and live events.
May 14, 7:56 AM·2m read1 source
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Versant reported first-quarter 2026 earnings before the bell on Thursday, its first as an independent company after spinning out from Comcast and beginning to trade on the Nasdaq earlier in 2026. 62 billion that Wall Street analysts polled by LSEG had expected. More than 80 percent of Versant's revenue still comes from the pay TV business.
01 billion in Q1 2026 due to subscriber declines that were partially offset by rate increases. Advertising revenue dropped 5 percent to $368 million, an improvement from the 12 percent decline recorded in the same period last year. 5 percent to $121 million, driven largely by licensing of 'Keeping Up With the Kardashians' and related content to Disney's Hulu.
5 percent to $192 million. The company highlighted viewership increases for CNBC, MS NOW, the Golf Channel and other live sports and events. , Syfy and Oxygen.
Versant is the parent company of CNBC. Net income attributable to the company fell 22 percent to $286 million. 99. Adjusted EBITDA decreased 7 percent from the same period last year to $704 million, though stand-alone adjusted EBITDA increased about 5 percent compared with the pre-spin portfolio.
Mark Lazarus, CEO of Versant, said the results reflected progress on the company's long-term goals. "We are executing our strategy by extending the reach of our brands, deepening our connection with audiences, and scaling our digital platforms," he stated.
Versant aims to eventually rebalance its revenue mix so that 50 percent is derived from digital, platform, subscription, ad-supported and transactional businesses.
