Here is some solid evidence from the Maryland-based Discovery Channels that cable TV is still a pretty good business despite the harsh economy: Profits have more than tripled year to year for the company.
Discovery Communications. Inc. -- which includes The Learning Channel, Discovery Channel and Animal Planet among other channels -- said first-quarter profit rose to $119 million from $34 million in the same period a year ago.
Reuters offers this explanation: "Advertising spending across media has fallen off sharply in recent months as automakers, retailers and financial institutions cut budgets, but Discovery is typically less reliant on some of the hardest hit U.S. ad categories. National cable channels has also proven relatively resilient compared with local TV stations or broadcast networks."
If you have been following this blog, you know that such series as TLC's Jon & Kate Plus 8 have proven to be a gold mine for TLC drawing more young female viewers (ages 18 to 34) than far more expensive network series like NBC's Heroes and Fox's 24.
I guess this means more money yet for Kate Gosslin, the controversial and high-handed mom of Jon & Kate. But I just know her many, many fans will only want to celebrate her success -- sure.
