Versant has unveiled its first-ever financial results since spinning away from NBCUniversal late last year. The company reported high total revenue in its first disclosure.
In total, the company reported $6.69 billion in revenue for 2025. That was down 3.3% from 2024, when encompassing the same brands and revenues from NBCUniversal that shifted to Versant.
Of that total revenue, $4.1 billion was from distribution revenue. $1.6 billion came from advertising revenue on brands like CNBC, MS NOW, USA, Syfy, Oxygen, and E!, among others.
The adjusted EBITDA for Versant was $2.4 billion, down 14.5% compared to the prior year.
On the company’s earnings call, CEO Mark Lazarus was asked about how the company’s strategy was impacted by the potential sale of Warner Bros. Discovery.
“We have our plan to go as an independent company, we have a strong set of assets, we’re very focused on our vertical markets,” Lazarus said. “The wider view was, it was interesting, because the assets from Warner Brothers were interesting to a couple of people in a couple of different ways, and we look at that as being reinforcing of the value of our company.”
During the call, Versan noted that 60% of its audience was centered around news and sports, something it hopes to put more emphasis on in the future.
“We think in many ways that process validates the quality of our brands and our portfolio and the strategy that we’re pursuing to kind of continue to drive those businesses which are supremely positioned within the pay TV ecosystem, and it also gives us the opportunity to extend them outside of it,” said CFO Anand Kini.
“We believe that there will be a rebalancing of sports portfolios, and that will leave opportunity for us who have a heritage in sports, who have strong sports properties and legacy to begin with, but we also have broad reach,” Lazarus added. “And with USA Network in particular, you know, it’s as broad a reach vehicle as any other cable television asset and or pay television asset, and we believe that there will be opportunity for us to get involved in properties that we might not have otherwise gotten involved.”
Barrett Media produces daily content on the music, news, and sports media industries. Sign up for our newsletters to stay updated and get the latest information right in your inbox.
