Article: Discovery Communications headquarters.jpg
Discovery Communications headquarters at Silver Spring, Maryland.
, , and NASDAQ-100 Components (DISCA and DISCK)S&P 500 Components (DISCA and DISCK)
Robert Miron(Chairman)David M. Zaslav(President and CEO)
Broadcasting, cable television, and video streaming
US$ 6.4 billion (2015) US$ 6.3 billion (2014)
US$ 2.4 billion (2015) US$ 2.5 billion (2015)
US$ 1.03 billion (2015) US$ 1.14 billion (2014)
Media Alliance (20%)All3media(50%)
as The Discovery Channel as Discovery Communications
Silver Spring, Maryland, U.S.
Discovery Communications, Inc. is an American global mass media and entertainment company based in Silver Spring, Maryland. The company started as a single channel in 1985, The Discovery Channel.
DCI both produces original television programming and acquires content from producers worldwide. This non-fiction programming is offered through DCI's more than 50 network entertainment brands, including Discovery Channel, TLC, Investigation Discovery, Animal Planet, OWN: Oprah Winfrey Network, Science Channel, Velocity, Eurosport and its web-native Discovery Digital Networks business, led by Seeker and SourceFed.
Despite being publicly traded on the NASDAQ stock exchange, the Newhouse family exercise the largest stake in the company, 31%, through privately held Advance Publications, followed by John C. Malone with 29%
Led by Seeker and SourceFed Studios, Discovery connects with millennial audiences through daily shows, weekly series, web docs and live online events – from DNews and Rituals with Laura Ling to The Philip DeFranco Show and Nuclear Family. Discovery has 375 million monthly online streams of its programming.
Discovery launched Discovery Channel Online, the network's website, on July 4, 1995.
In April 2014, Discovery announced a partnership with Brian Grazer and Ron Howard to launch digital studio New Form.
In May 2014, Discovery and Liberty Global announced an agreement to form a 50:50 joint venture to acquire All3Media, a producer and distributor of TV programming.
In December 2015, Discovery launched the company's first U.S. TVE streaming service, Discovery GO, connecting viewers with live and on-demand access to shows and series from nine U.S. networks in the Discovery portfolio – Discovery Channel, TLC, Animal Planet, Investigation Discovery, Science Channel, Velocity, Destination America, American Heroes Channel and Discovery Life.
Corporate governance and history
NBCUniversal executive David Zaslav was named president and CEO on November 16, 2006.
In addition to Zaslav, current executives include:
Joe Abruzzese, President of Advertising Sales
Adria Alpert Romm, Chief Human Resources & Global Diversity Officer
Bruce Campbell, Chief Development, Distribution & Legal Officer
Bill Goodwyn, President & CEO Discovery Education
Paul Guyardo, Chief Commercial Officer
John Honeycutt, Chief Technology Officer
David Leavy, Chief Corporate Operations and Communications Officer
Jean-Briac (JB) Perrette, President, Discovery Networks International
Andrew Warren, Senior Executive Vice President, Chief Financial Officer
Prior to September 18, 2008, DCI's ownership consisted of three shareholders:
Discovery Holding Company
Advance/Newhouse Communications which is owned with Advance Publications
John S. Hendricks, the company's Founder.
On Sept 17, 2008, Discovery Holding Company completed a restructuring plan. Discovery Holding's Ascent Media business was spun off, and the remaining businesses, Discovery Communications, LLC and Advance/Newhouse Communications, were combined into a new holding company, Discovery Communications, Inc. The new fully public company and trades on the NASDAQ stock market under the symbols DISCA, DISCB, and DISCK. SEC filings are submitted by the Discovery Holding Company.
In May 2014, the company announced a special dividend of shares of the Company's Series C common stock payable to holders of record of the Company's Series A common stock, Series B common stock and Series C common stock as of the close of business on July 28, 2014. As a result of the dividend, each holder of a share of the Company's Series A common stock, Series B common stock or Series C common stock will receive one additional share of the Company's Series C common stock on or about August 6, 2014.
Divisions
DCI operates its businesses in the following groups: Discovery Networks U.S., Discovery Networks International, Discovery Studios Group, Discovery Digital Media, and Discovery Education.
Discovery Networks U.S.
The company started out with just a single channel, Discovery Channel, launched in 1985. In 1991, they acquired Discovery Channel's rival, The Learning Channel.
In the mid-90s, Discovery Communications started developing several new networks. The first of these to launch was Animal Planet, which was launched in cooperation with the BBC in 1996. In October 1996, four digital networks were launched to take advantage of the then-new digital cable space; Discovery Kids, Discovery Travel & Living Network, Discovery Civilization Network and Discovery Science Network. This was followed by the 1998 launches of Discovery Wings Channel and Discovery Health Channel.
They also acquired the Travel Channel in 1997, CBS Eye on People (renamed Discovery People) in 1998 and The Health Network (renamed FitTV) in 2001.
Discovery Networks were early to go into high-definition television with the launch of Discovery HD Theater in 2002. With the launch of high-definition simulcasts of Discovery Channel, TLC, Animal Planet and Science Channel in 2007, the original HD channel changed its name to HD Theater.
The division's channels include:
{| class="wikitable sortable"! Channel !! Launch Date !! US Households as of August 2015|-
| Discovery Channel ||1985|| 92 million||Flagship network||
|-
| TLC ||1980|| 91 million||Acquired by Discovery Communications in May 1991, previously known as The Learning Channel.||
|-
|Animal Planet ||1996|| 90 million||
|-
|Investigation Discovery ||1996|| 85 million||Formerly Discovery Times, Discovery Civilization||
|-
| OWN ||2011|| 79 million||Joint venture ownership with Harpo Productions||
|-
| Science ||1996|| 71 million||Formerly Discovery Science||
|-
| | Discovery Family ||1996|| 65 million||Initially launched as Discovery Kids in 1996, relaunched as The Hub in 2010, renamed Hub Network on 2013 and rebranded as Discovery Family in 2014.40% of the network is owned by Hasbro.||
|-
| Velocity ||2002|| 69 million||Formerly Discovery HD Theater and HD Theater||
|-
|American Heroes Channel ||1999|| 57 million||Formerly Discovery Wings, Military Channel||
|-
| Destination America ||1996|| 55 million||Formerly Discovery Home and Leisure (1998–2004), Discovery Home (2004–08), and Planet Green (2008–12)||
|-
| Discovery Life ||2011|| 47 million||Merger of Discovery Health Channel and FitTV, previously known as Discovery Fit & Health||
|-
| Discovery en Español ||1998||6 million||Spanish-language version of the Discovery ChannelUnavailable in HD||
|-
| Discovery Familia ||2007||6 million||Unavailable in HD||
|- |} Discovery Networks International
Led by flagship network Discovery Channel, Discovery Network International, distributes international brands, including Discovery Channel, TLC, ID: Investigation Discovery, Animal Planet, Science, Turbo and Eurosport. The company employs an extensive localization strategy by offering customized schedules and programming in 45 languages worldwide via hundreds of distribution feeds, distributing an average of 10 channels in each market.
Discovery Networks International has five regional operations spanning Asia-Pacific, Central & Eastern Europe, Middle East and Africa (CEEMEA), Latin America/U.S. Hispanic, Northern Europe, and Southern Europe, with regional headquarters in Singapore, Warsaw, Miami, London, Mumbai and Milan.
In June 2015, Discovery Communications won the multiplatform rights across Europe to the Olympic Games from 2018 to 2024. Discovery and Eurosport promised more coverage than ever across screens to Europe's 700 million residents. Discovery paid 1.3 billion euros for the rights in 50 countries (excluding Russian, and France and the UK for just the 2022 and 2024 games); Discovery sublicensed the free-to-air rights in the UK to the BBC for the 2022 and 2024 games, while gaining the pay-TV rights for the 2018 and 2020 games. Additionally, Discovery has and committed to broadcast 200 hours of the summer games and 100 hours of the winter games on free-to-air TV.
In August 2016, Liberty Global and Discovery renewed their long-term distribution agreement across 12 European countries with greatly expanded distribution rights over the long-term. This deal includes Discovery Channel, TLC, ID and Eurosport. The deal also includes digital rights.
Discovery has recently invested in the Eurosport Player OTT service, which offers live streams of linear channels, but also added content, such as tennis action from up to 16 courts at the Australian Open. The Eurosport Player is designed to super-serve super-fans with more content and expand Eurosport's audience to younger, digital native demos and providing them with digital-only experiences.
The strategy in 2016 for Eurosport is to be home of grand slam tennis, athletics, winter sports and cycling across Europe plus get select premium content and local events that fans crave. It is no longer showing non-exclusive and lower-tier sports that are not as popular on a local level. Instead, the company has bought select premium content across markets, such as the Olympics, and premium local sports rights, such as to the German soccer league, that have strong appeal in certain countries or regions.
Eurosport has also expanded its deal with The All England Club to show all the Wimbledon matches live in 16 additional countries. It is a 3-year deal that includes exclusive TV and digital rights. This expands their tennis portfolio to show all four Grand Slams.
Discovery Channel 1989 388 million TLC 325 million Animal Planet 1997 307 million Eurosport Acquired in 2014 154 million Investigation Discovery 121 million Discovery Kids 1996 97 million Switchover Media Acquired in 2013 101 millionDiscovery Science 1997 93 million DMAX 2006 81 million Launch: 2006 Germany, 2008 UK & Ireland, 2011 Italy, 2014 AsiaDiscovery Home & Health 2000 65 million Discovery Turbo/Discovery Turbo Xtra 2005 73 million
Discovery Communications also operates Living Channel and Food TV in New Zealand.
Discovery Studios Group
Discovery Studios Group is a full service production, distribution and merchandising group within Discovery Communications.
Discovery Studios Group consists of:
Discovery Studios Discovery Consumer Products Discovery Program Sales Discovery Private Networks Discovery Music Source Discovery Access Raw Discovery Digital Networks
Led by Seeker and SourceFed Studios, Discovery connects with millennial audiences through daily shows, weekly series, web docs and live online events – from DNews and Rituals with Laura Ling to The Philip DeFranco Show and Nuclear Family.
Discovery Education
Discovery Education is a division which offers "standards-based digital content for K-12" In 2013, Discovery Education expanded its reach by acquiring Espresso Group Ltd. Serving 3 million educators and over 30 million students, Discovery Education's services are in half of U.S. classrooms, over 40 percent of all primary schools in the UK, and more than 50 countries.
History
After acquiring The Learning Channel (now TLC) in May 1991, Discovery announced plans in November 1994 to launch four new channels, including Animal Planet and what would later become Science Channel.
In June 2002, Discovery Communications launched the first 24-7 HD network in the United States, Discovery HD Theater. HD feeds would later be launched for its networks in the U.S. and globally as the technology took hold in living rooms.
Discovery Communications invested in original digital content in May 2012 with the acquisition of Revision3, which has evolved into its current Discovery Digital Networks business.
On March 17, 2009, Discovery revealed that it owned the rights to several patents related to e-books, in announcing a patent infringement lawsuit against Amazon.com, maker of the Kindle e-book reading device. The patents were originally developed by the company's founder John Hendricks; the specific patent in question in the suit was applied for in 1999 but issued in late 2007.
On December 21, 2012, Discovery announced it had taken a 20% minority interest share with TF1 Group in sports broadcaster Eurosport, valued at €170 million (US$221.6 million). On January 21, 2014, Discovery became the majority shareholder in Eurosport, taking a 51% share of the company. In 2015, Discovery closed a transaction to acquire 100% of Eurosport.
In April 2014, Discovery announced another digital investment in the form of a partnership with Brian Grazer and Ron Howard to launch digital studio, New Form Digital.
In May 2014, Discovery and Liberty Global announced an agreement to form a 50:50 joint venture to acquire All3Media, a producer and distributor of TV programming.
In August 2015, Discovery Communications launched Discovery VR, a cross-company virtual reality offering, after announcing its plans in May
In November 2015, Discovery took a 3.4% interest in Lionsgate with Discovery President and CEO David Zaslav joining Lionsgate's board of directors. "As with all our creative partners, we look forward to telling world-class stories with Jon and the deep management team at Lionsgate, and further strengthening Discovery's content pipeline across our linear and digital platforms around the world," Zaslav said.
In December 2015, Discovery launched the company's first U.S. TVE streaming service, Discovery GO, connecting viewers with live and on-demand access to shows and series from several U.S. networks in the Discovery portfolio – Discovery Channel, TLC, Animal Planet, Investigation Discovery, Science Channel, Velocity, Destination America, American Heroes Channel and Discovery Life.
In Q2 2016, Discovery shifted its strategy entirely towards digital media, international markets, and diversifying content. In order to make up for shrinking cable network viewers, they have invested in direct-to-consumer offerings and digital distribution channels. 50% of their revenue was through affiliates this quarter. They took a minority stake in Chinese MCN VS Media, a company that has 55 million subscribers in China with more than 320 monthly video views.
2010 hostage crisis
On September 1, 2010, the DCI headquarters was the site of a hostage taking, a lone gunman identified as James J. Lee, armed with two starter pistols and an explosive device, took three people hostage inside of the Discovery Communications headquarters in Silver Spring, Maryland, prompting an evacuation of the building.
Lee's motive was believed to have been grounded in environmental activism. Lee had previously been arrested in 2008 while protesting in front of the same site.
The National Consortium for the Study of Terrorism and Responses to Terrorism (START) at the University of Maryland has since labeled the crime a terrorist attack.
The incident began at 1:00 p.m. ET, when 43-year-old James Jay Lee entered the building with two starter pistols and fired a single round at the ceiling of the lobby. The Montgomery County Police Department (MCPD) confirmed that Lee had an explosive device and was holding three people hostage in the lobby. The building was placed on lockdown and most of the 1,500 employees were evacuated. Children from a day care center inside were safely removed to a nearby McDonald's restaurant on Colesville Rd. Lee was shot dead by an MCPD SWAT team at 4:48 p.m. ET after the hostages made a run to escape. The remaining hostages were immediately freed. The incident was described by the FBI as the first instance of a would-be suicide bomber taking hostages in the United States.
James Jay Lee (c. 1967September 1, 2010) was an environmental protester who, in 2008, was given six months of supervised probation and fined $500 after he was arrested during a protest outside the Discovery Communications headquarters.
Lee had published criticisms of the network in an online manifesto at Savetheplanetprotest.com, among which was a demand for the company to cease the broadcasting of television series displaying or encouraging the birth of "parasitic human infants and the false heroics behind those actions". His manifesto also railed against "immigration pollution and anchor baby filth", leading commentators such as Mark Potok of the Southern Poverty Law Center to decry Lee as an "eco-fascist". Lee's opinions were dominated by Malthusian analysis, though he also cited works ranging from Daniel Quinn's novel My Ishmael to former U.S. Vice President Al Gore's documentary An Inconvenient Truth. The Washington Post credited the Twitter community for initially breaking the story.
See also Discovery Networks CEEMEA Discovery Networks EMEA
Discovery Networks Northern Europe
National Geographic Society References External links |
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Discovery’s Eurosport Invests in Premium, Local Sports to Boost Growth
A more country-by-country approach uses pan-European sports as a backbone and more relevant rights to locally popular sports in key markets, which the company says has boosted ratings.
By Georg Szalai Plus Icon Georg Szalai Global Business Editor
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July 12, 2016 9:30am
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In the U.S., Discovery Communications
is best known for the likes of
Shark Week , Gold Rush , Cake Boss , Oprah’s Master Class and Finding Bigfoot .
But in Europe and other
international
markets, it is also the owner of pan-European sports network
Eurosport
, which airs the Tour de France and other cycling events, tennis and winter sports, among others.
With its reach of 241 million subscribers in 93 countries, predominantly in Europe,
Eurosport
has sometimes been compared to ESPN in the U.S., even though their strategies differ. Big, expensive sports are a hallmark of ESPN.
Eurosport
in the past focused on rights to second-tier sports that it can air across the continent.
However, under the ownership of Discovery, this has changed to a more country-by-country approach using pan-European content as a backbone to support more relevant rights to locally popular sports in key markets. The focus of this new strategy is more premium, more exclusive and more local content that can be acquired in a financially disciplined manner that allows investments to be cash flow-positive.
All in all, Eurosport
now wants to be home of grand slam tennis, athletics, winter sports and cycling across Europe, plus get select premium content and local events that fans crave. Nearly 50 percent of its regular schedule is dedicated to Olympic sports. But it is no longer interested in non-exclusive and lower-tier sports that are not as popular on a local level. Instead, the company has bought select premium content across markets, such as the Olympics, and premium local sports rights, such as to the German soccer league, that have strong appeal in certain countries or regions. The company has said that this will drive value with viewers and distribution partners. Overall, it has struck more than 70 deals since Discovery got involved in the company.
The deals have made Discovery a big sports player on the continent, and with close to 50 percent of the company’s revenue coming from international markets ($3.1 billion, or 48 percent of $6.4 billion overall in 2015), Wall Street analysts say the performance of
Eurosport
has become a bigger driver for Discovery’s financials.
Related Stories Related Story
Discovery to Acquire Full Control of Eurosport for $534 Million
The company has touted ratings gains as proof that the strategy is working. Discovery says 2016 is building on the double-digit growth enjoyed in 2015 with audience growth and share driven by local rights investments. For example, ratings in Norway were up double digits due to local rights for
Europa
League soccer and handball. And
Eurosport
in the U.K. saw double-digit growth and early this year celebrated its best ratings ever thanks to the Australian Open tennis tournament’s women’s and men’s finals.
Discovery moved into the sports space when it bought a 20 percent stake in
Eurosport
in 2012 from France’s
TF1
Group for $222 million. “The cost of the sports content for
Eurosport
is very, very manageable, much more predictable,” Discovery CEO David
Zaslav
said at the time. The company later increased its stake before buying full ownership last year for $534 million.
But some recent content deals have surprised Wall Street, with one observer suggesting Discovery may still have more educating and explaining to do to show how the deals enhance
Eurosport’s updated strategy.
The biggest broad-based premium content deal came last summer when Discovery bought the European rights for the Olympics starting in 2018 and through 2024 for $1.45 billion. More recently, a big local play came when
Eurosport
Germany picked up a pay TV package of rights to matches in the German soccer league, including live Friday matches as well as relegation battles and the so-called
Supercup
game, the season-opening match between the first- and second-place finishers of last season. It’s believed that the four-year deal is worth a bit north of $110 million (€100 million) per year.
The Bundesliga
deal followed agreements for the local soccer leagues in Poland, Norway and Denmark. In other deals for sports that rank No. 2 or 3 in the respective countries in terms of popularity, typically behind soccer,
Eurosport
has picked up rights to national handball games in Sweden and Norway, as well as rights to
MotoGP
motorcycle races for Germany, France and the Netherlands.
“I think Discovery realizes for
Eurosport
to grow it needs more flagship properties,”
MKM
Partners analyst Eric Handler said in explaining the changed content approach. “The strategy has definitely seemed to change since
Eurosport
was first acquired. I think it is safe to assume that second-tier sports properties don’t hold the same value…as the Olympics and soccer.”
Wall Street’s eyes have been on the financial trends, of course. Discovery in its annual report listed
Eurosport’s
2015 revenue at $507 million, up 54 percent from $330 million in 2014 and 9 percent of the company’s total revenue of $6.39 billion. It also reported 2015 adjusted operating income before depreciation and amortization of $37 million for
Eurosport
, down 46 percent from $68 million in 2014 and 2 percent of the company total of $2.40 billion.
Eurosport “has seen its OIBDA
margin decline from mid to high teens at the original investment to mid-single digits even prior to significant sports content investments in the Olympics and
Bundesliga
,” Guggenheim Securities analyst Michael Morris wrote in a recent report expressing some concern about financial trends.
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Discovery's Eurosport Unveils Tagline "Fuel Your Passion"
Since the third quarter, cost growth has been higher because the cost of new rights has kicked in. But the company has signaled that once it reaches the anniversary of these higher gains later this year,
Eurosport’s
cost trends will see more normalized levels. Management has emphasized that it has continued to spend money on rights in a disciplined fashion, with an eye toward
monetizing
it via advertising revenue, affiliate fee increases and over-the-top services. It has said that its sports investments are targeted and cash flow-positive, but that they take time to show up in the financials and benefit the whole portfolio.
“We’ve done over 70 deals on
Eurosport
, and all of our deals are in the low single to mid single-digit increase” range, said
Zaslav
on Discovery’s first-quarter earnings conference call. “Even on the Olympics itself, we were able to get the Olympics for a mid single-digit increase on what it had gone for four years earlier.”
Looking ahead, Zaslav
said that Wall Street should expect
Eurosport’s
profitability to improve. “We’ve acquired the sports IP we think we need, and I think we’re making the turn. We’re very happy with the Olympics, and margins should start to grow now on
Eurosport
,” he said. “We don’t think we need to own a lot more IP. We’ll do it opportunistically.”
Importantly, Eurosport
is integrated with the rest of the company’s international portfolio, and Discovery sees it boosting the leverage for its overall business.
In addition to boosting ratings and thereby ad revenue, Discovery is looking to boost its carriage fee revenue over time via popular sports offerings. While Europe doesn’t have the tradition of network blackouts amid carriage disputes, Discovery is looking to boost its value proposition to pay TV operators. “We’re leveraging the power of sports programming by driving meaningful affiliate value across our whole portfolio, which you will see grow further in the years ahead,”
Zaslav
said on the latest earnings call.
In addition, the Eurosport
Player OTT service, which offers live streams of linear channels, but also added content, such as tennis action from up to 16 courts at the Australian Open, has become a growing digital business. The company has said it is targeting 1 million subscribers but hasn’t disclosed figures recently. Industry insiders say Discovery is looking to make the
Eurosport
Player the Netflix of sports in Europe.
The Eurosport
Player is designed to super-serve super-fans with more content and expand
Eurosport’s
audience to younger, digital-native demos and provide them with digital-only experiences. In that context,
Eurosport
has also been growing its investment in short-form content to reach the millennial audience. Among the most popular examples are
The Commissioner of Tennis
with John McEnroe
, which aired during the French Open.
Related Stories Related Story
Discovery Wins European Rights to 2018-2024 Olympics
Meanwhile, the Olympics pact also shows the opportunity to limit the overall risk of content investments. Discovery has signed sub-licensing deals in such countries as the U.K., the Netherlands, Austria, Switzerland and others that allow networks there to also show Olympic events, while
Eurosport retains exclusivities
for its TV and digital services. “These agreements significantly exceeded our plan,”
Zaslav
said earlier this year. “The Olympics will not only be profitable, but based on the deals that we’ve done already, we expect the Olympics will make real money for us on each of the Games.” Discovery hasn’t provided further financial details.
Some observers have wondered if the recent German soccer deal will mean a change of strategy for
Eurosport
as it focuses on the leading sport in only one market, and
Zaslav previously said Eurosport
was “sort of the home for everything but soccer.”
One company insider says though that the investment was opportunistic and consistent with the firm’s strategy of deals for rights that drive brand value, awareness and engagement in local markets. The insider highlighted that the company bought a new pay TV package that presented a unique opportunity to get must-see content at an attractive price in Europe’s biggest TV market and
Eurosport’s
second-largest in Europe. Said one observer: “It is the equivalent of NFL games having only ever been on one channel, and now
Monday Night Football
is on [their pay TV channel].” Plus, Discovery could offset some of its cost as it is already in conversations with other distribution companies to partner on offering
Bundesliga
across multiple platforms, including its own
Eurosport Player. “Eurosport
was able to benefit with the decision made by the league to break up the rights package,” said Handler. “This event allowed
Eurosport
to make a bid that allows the network to not have to overly tax its programming budget.”
Concluded the analyst: “[Discovery’s] commitment has been to keep
Eurosport
profitable, and this contract should not result in any deviation from this strategy.”
Related Stories Related Story
German Soccer League Signs Record $5.3B Rights Deal
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