Versant (VSNT) debut earnings report shows digital growth
Versant Media GroupNewly minted extension of TV networks and digital assets comcastIt released its first earnings report on Tuesday.
The company reported revenue of approximately $6.69 billion for 2025, down 5% from the previous year. Versant reports a breakdown of Comcast’s earnings for its final year under NBCUniversal ownership.
Versant’s linear distribution revenue fell 5.4% to $4.1 billion, and advertising revenue fell almost 9% to $1.58 billion.
Net income attributable to Versant was $930 million, and the company reported $2.18 billion in adjusted standalone earnings before interest, taxes, depreciation and amortization.
The company’s board also declared a quarterly dividend of $0.375 per share, representing an annual dividend of $1.50 per share, and authorized a $1 billion share repurchase program. Because of its low debt burden and high-margin business, Versant executives said they plan to deliver value to shareholders.
Versant celebrated its first day as an independent company earlier this year and began trading on Nasdaq in early January. However, Versant’s management had been working on separating assets from Comcast through 2025.
The company has been featured on CNBC, MS Now, USA Network, Golf Channel, Syfy, E! It consists of a portfolio of pay TV networks including: And digital properties like Fandango, Rotten Tomatoes, GolfNow, and Sports Engine, as well as Oxygen.
Although the traditional TV business is still profitable, it has seen continued losses over the years across all media companies as viewers leave the pack for streaming alternatives.
More than 80% of Versant’s revenue is based on its pay-TV business, but its executives told Wall Street that 2026 will be a transition year for its business model. The company aims to eventually generate 50% of its revenue from digital, platform, subscription, ad-supported and transactional businesses.
On Tuesday, Versant reported that pay TV revenue will reach 19% of total revenue in 2025, totaling approximately $826 million in platform revenue. Versant’s platform business was the only revenue segment that increased revenue year over year.
He considers MS Now’s direct-to-consumer product CNBC Pro and a new retail investor product for the brand and the launch of its ad-supported Fandango at Home service in 2026 as growth drivers in this unit.
Disclosure: Versant is the parent company of CNBC.
