If anyone can turn around a fledgling business, it’s Oprah Winfrey. Her network, OWN, got a rocky start with ratings lagging and advertising revenue at its lowest. After a much-maligned collaboration with Tyler Perry, earnings have greatly increased.
OWN, a collaboration between Oprah Winfrey and Discovery, was cash-flow positive for the first time since its launch during the second quarter, reports The New York Times. The news was announced by Discovery Chief Executive, David M. Zaslav, who cited Tyler Perry’s new shows, “increases in subscriber fees from cable and satellite providers” and “investments in programming” as reasons for the breakthrough.
It’s now “starting to pay down the investment Discovery has made in the venture,” he said. It’s also worth nothing that this breakthrough occurred sooner than Discovery even predicted. Zaslav said the upswing was “ahead of the originally anticipated second half of the year goal of cash flow break even.”
Congratulations to Oprah, Tyler Perry and the OWN team. Running a successful television network is no small feat. What do you think of this news, Clutchettes and Gents?