Versant Sees Q3 Profit Drop Despite Upticks in Non-TV Operations

Versant Media’s third-quarter net income fell 41% to $47 million as the company faced lower advertising and distribution revenue, alongside costs and interest expense after separating from Comcast. The results show the pressure on its traditional television business, even as Versant grows digital and direct-to-consumer operations.

Revenue declined 4.2% to nearly $1.6 billion year on year. Advertising revenue was down 5.3%, partly because the Ryder Cup was held in 2025 but not 2026, while distribution fees fell 5.8%; revenue from non-TV operations rose 9.6%, helped by Fandango. Versant said 75% of its network subscribers are under contract into 2028 or later, reaffirmed its $6.2 billion to $6.45 billion annual revenue outlook, and expects free cash flow to exceed its previous forecast of $1 billion to $1.2 billion.