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Reality TV shows help Discovery beat profit estimates amid coronavirus

Unscripted shows from TV channels like Food Network, TLC and HGTV helped Discovery beat Wall Street’s profit expectations despite a slight revenue dip fueled by the coronavirus. The broadcasting giant said its portfolio of TV brands lost 6 percent of its total subscribers from the first quarter of 2019. Among its biggest channels, including Discovery, TLC, Food Network and HGTV, the drop was about 4 percent. Advertising revenue, which began in March, was flat at $1.03 billion in the first quarter. Nevertheless, Discovery has been coming up with creative ways to air new shows amid the lockdown, including a host of cooking and home-improvement episodes. Food Network’s Guy Fieri has gotten takeout at some of his favorite dives, for ...
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