Versant Media Group reported first-quarter 2026 revenue of $1.69 billion, down about 1% from a year earlier, while net income fell 22% to $286 million [1, 2]. The decline reflected lower linear distribution revenue from pay TV networks, which dropped roughly 7% to $1.01 billion [1, 2]. Advertising revenue also fell about 5% to $368 million but showed improvement compared to a 12% decline in the prior year [1, 2].
Offsetting these declines, Versant’s content licensing revenue more than doubled, rising 113.5% to $121 million. This boost stemmed partly from licensing deals such as 'Keeping Up With the Kardashians' to Disney's Hulu [1]. Platform business revenue, including Fandango, GolfNow, and direct-to-consumer units, increased 9.5% to $192 million [1, 2].
Versant aims to rebalance its revenue mix so that 50% comes from digital, platform, subscription, ad-supported, and transactional businesses [1, 2]. The company recently launched a standalone streaming service for CNBC and plans to launch one for MSNOW in fall 2026 [2].
Versant is a spin-off from Comcast and includes cable channels such as CNBC, MS Now, USA, E!, Syfy, and Oxygen but does not include Bravo [1, 2]. CEO Mark Lazarus said, "We are executing our strategy by extending the reach of our brands, deepening our connection with audiences, and scaling our digital platforms. This performance across Platforms and our core brands reinforces our confidence in evolving the business over time and delivering long-term shareholder value" [1].
The company announced a $100 million share repurchase plan for the second quarter of 2026, following $100 million repurchased in the first quarter [2].
