Versant reports first-quarter revenue decline, with bright spots in platforms and licensing

Versant Media Group on Thursday unveiled results for its most recent quarter — its first as a standalone company after separating from Comcast's NBCUniversal and beginning to trade on the Nasdaq earlier this year. The report highlighted growth across its digital and licensing businesses despite continued pressure in the traditional pay TV bundle. Linear distribution revenue for its pay TV networks — which includes CNBC, MS Now and the Golf Channel as well as USA, E!, Syfy and Oxygen — was down roughly 7% during the period to $1.01 billion. The company said that was due to subscriber declines and partially offset by rate increases. Advertising revenue was down 5% to $368 million, which was considered an improvement from the same period last year when it posted a 12% decline. Revenue from content licensing, however, rose 113.5% to $121 million, due largely to the licensing of the longtime reality TV series hit "Keeping Up With the Kardashians" and other related content to Disney's Hulu. Versant has consistently touted its strength in sports and news. On Thursday the company highlighted viewership increases for CNBC and MS Now, as well as continued momentum for the Golf Channel and other live sports and events on its networks. More than 80% of Versant's revenue comes from the pay TV business. …