Apparently, not all media companies are getting equally pinched by the recession. DirecTV (NYSE: DTV) reported strong fourth-quarter results this morning, including growth in revenue, operating profit before depreciation and amortization (OPBDA), and subscribers. Specifically:
Net subscribers increased 461,000 (301,000 in the U.S.the company's best growth in 3 years)
Revenue was up 9 percent to $5.3 billion.
OPBDA grew 11 percent to $1.2 billion.
Average revenue per user was up 3.5 percent in the U.S., driven by programming price increases and HD/DVR revenue.
More evidence that satellite and cable TV companies appear to be weathering the economic storm better than pure-play advertising companies, thanks to the steady subscriber and affiliate fees.
By Rory Maher