Andre Yoskowitz
20 Jan 2008 17:24
The media giant NBC Universal has announced "record performance" profits for 2007 despite its decision to leave Apple's iTunes platform earlier in the year.
The statement, made by CEO Jeff Zucker, stated that profit for 2007 rose to $923 million USD on $2.1 billion USD revenue, a nice 10 percent increase from 2006. Zucker attributed the success to its cable and film business which saw huge releases such as "The Bourne Ultimatum" and increased viewership to CNBC and the Sci-Fi Channel.
An NBCU senior studio official also noted that the increase was in spite of the ongoing writer's strike which started in October of last year. "Careful management of scripts will also let the movie and TV divisions continue significantly into 2008 without damage to the company's bottom line," added the official.
Instead of using iTunes, NBCU has pinned its hopes on Hulu and smaller offerings such as Fanfare.