Comet, CHARGE! and TBD. Deliver Highest Viewership in Networks’ History
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Insights
The Sinclair Broadcast Group's announcement of viewership growth in its multicast networks, including Comet, CHARGE! and TBD, indicates a significant shift in consumer behavior towards free, over-the-air television. This trend presents a potential increase in advertising revenue as advertisers typically follow the audience. The double-digit increases in key dayparts suggest that Sinclair's investment in series programming and affiliate distribution in top DMAs (Designated Market Areas) is paying off, attracting a larger audience share.
The growth of multicast networks is particularly relevant in the context of the broader media landscape, where traditional cable networks are experiencing declines in viewership. Sinclair's strategy to diversify content offerings, as seen with the launch of The Nest, is aimed at capturing niche audience segments, including female viewers. This diversification can lead to a more robust and resilient advertising portfolio, which could be attractive to investors looking for companies with growth potential in the evolving television market.
From a financial perspective, Sinclair Broadcast Group's reported year-over-year growth in viewership translates to a stronger competitive position within the multicast sector. The specific performance metrics, such as the +17% growth for Comet and the impressive +37% for CHARGE, are indicators of operational success and could potentially lead to upward revisions in revenue forecasts. The emphasis on prime time and late fringe slots, which are traditionally the most lucrative for advertising sales, underscores the potential for increased ad revenue.
The stock market often reacts favorably to companies that outperform industry norms and Sinclair's reported growth rates far exceed the industry average for television networks. This performance might lead to positive sentiment among investors and analysts, possibly reflecting in the company's stock price (Nasdaq: SBGI). However, investors will also be keen on monitoring the sustainability of this growth, considering the dynamic nature of media consumption and the increasing competition from digital streaming platforms.
The broadcasting industry is witnessing a paradigm shift with the rise of free, over-the-air multicast networks. Sinclair's networks are capitalizing on this trend by offering popular series and securing premium affiliate distribution. The substantial viewership growth in the multicast sector, where Sinclair is emerging as a leader, is indicative of the industry's potential to reshape the television landscape. The multicast approach, which involves broadcasting multiple channels over a single transmission, is a cost-effective strategy for reaching diverse audiences without incurring the high carriage fees associated with cable.
The introduction of The Nest and its focus on 'comfort food' programming is a strategic move to target specific demographics, expanding Sinclair's reach. The success of Sinclair's multicast networks could prompt other broadcasters to invest in similar strategies, potentially leading to increased competition and innovation within the industry. Stakeholders, including content creators, advertisers and distributors, will need to adapt to this shift to capitalize on the opportunities presented by multicast broadcasting.
As Multicast Universe Grows, Sinclair-Owned Networks See Double-Digit Increases in Key Dayparts
For the full year of 2023, among total viewers, the networks experienced unprecedented year over year growth, with Comet +
With continued investment in strong series programming, including the series launches of Grimm, Law & Order: Criminal Intent, Whose Line is it Anyway?, Key & Peele and Punk’d, combined with premium affiliate distribution gains in the top 10 DMAs, the networks have emerged as leaders in the multicast TV sector.
Comet, featuring sci-fi and fantasy entertainment franchises, in addition to its total year ratings growth the network saw its highest quarter ever for total day in Q4 '23, up
Key programming highlights include:
-
Grimm, which launched on Comet in Jul ‘23, has increased viewership among P25-54 each quarter. In Jan ‘24 Grimm was up +
39% from its premiere and +79% from last years' time period. -
The X-Files increased +
7% among total viewers for prime time and late fringe in Q4 2023 versus 2022. -
Comet's recently launched Mega Movie Saturday franchise, a themed movie marathon airing each month, increased +
42% among P25-54 versus the 2023 the time period average, reaching an average of over 1 million total viewers weekly.
CHARGE! with a lineup of high-profile police procedural dramas, saw its highest prime time and late fringe ever among total viewers in November 2023, with December 2023 and January 2024 ranking as the second and third highest rated months respectively. Additionally, November 2023 was the network’s highest ratings ever for total day.
Key programming highlights include:
-
Law & Order: Criminal Intent, which launched in Oct ‘23, led CHARGE to its highest quarter ever in Q4 ‘23 with
100% increase year-over-year in primetime among P25-54 -
Law & Order: Criminal Intent has continued to increase from its premiere, up +
14% among P25-54 and +31% among W25-54 in Jan '24
TBD., the free TV home of big stars and big comedy, with a lineup of ground-breaking, funny franchises, increased +
Key programming highlights include:
-
The launches of Whose Line Is It Anyway?, Key & Peele, and Punk'd in Dec ‘23 led to an increase of +
80% among P25-54 and another +17% increase in Jan ‘24. - Whose Line Is It Anyway? is the network’s highest rated program ever, comprising 7 out of TBD's top 10 telecasts ever, with its highest averaging 75,000 P25-54.
The Growth Networks Group continued to secure distribution upgrades throughout 2023 and into 2024, through new affiliations with major broadcast groups including the CBS stations (Comet in
Additionally, Sinclair launched The Nest, its fourth multicast network, (Oct ‘23) offering “comfort food” programming comprised of home improvement, true crime, factual reality series, and celebrity-driven family shows targeting key audience profiles including female viewers in all age groups.
“The results speak for themselves. Viewers are turning away from traditional cable TV networks and discovering new linear viewing alternatives on free, over-the-air multicast TV. As viewers move, advertisers follow, and we are excited to welcome top brands to Comet, CHARGE and TBD,” said Adam Ware, SVP, Growth Networks Group. “We are bullish on the future of multicast TV and are continuing to invest in the sector, including adding more networks like The Nest, which has already delivered strong growth in just its first few months,” said Ware.
For more information, program schedules and a location finder, please visit: https://sbgi.net/networks/.
About Sinclair Broadcast Group:
Sinclair Broadcast Group is a subsidiary of Sinclair Inc., (Nasdaq: SBGI) a diversified media company and a leading provider of local news and sports. The Company owns, operates and/or provides services to 185 television stations in 86 markets affiliated with all the major broadcast networks; owns Tennis Channel and multicast networks Comet, CHARGE!, TBD. and The Nest; and owns and provides services to 21 regional sports network brands. Sinclair’s content is delivered via multiple platforms, including over-the-air, multi-channel video program distributors, and the nation’s largest streaming aggregator of local news content, NewsON. The Company regularly uses its website as a key source of Company information which can be accessed at www.sbgi.net.
*Source: Nielsen L+SD P2+ Imp, Total Day (M-Su/9am-3am), 2023 vs 2022
Comet Source: Nielsen L+SD P25-54 Imp, Grimm airings M-F/3pm-8pm, Q3'23-Jan'24 & Jan'23 time period
Comet Source: Nielsen L+SD P2+ Imp quarterly, Total Day (M-Su/9am-3am), Q4'23, all quarters & Jan'24
Comet Source: Nielsen L+SD 11/18/23, 12/16/23 & 1/20/24 Sat/2-10pm P2+ Reach and P25-54 Imp vs 2023 2-10pm time period
Charge Source: Nielsen L+SD P2+ Imp, Primetime (M-Su/8pm-1am) and Total Day (M-Su/9am-3am), Nov'23, Dec'23, & Jan'24 vs all months
Charge Source: Nielsen L+SD Imp, Primetime (M-Su/8pm-1am) and Law & Order: Criminal Intent (M-Su/9pm-1am), Q4'22, Q4'23, & Jan'24
TBD Source: Nielsen L+SD Imp, M-Su/7pm-12am, Q4'22, Q4'23, & Jan'24
TBD Source: Nielsen L+SD Imp, Daytime (M-F/9am-4pm)
Category: General
View source version on businesswire.com: https://www.businesswire.com/news/home/20240208827731/en/
Media contact:
Sinclair - Jessica Bellucci jbellucci-c@sbgtv.com
Source: Sinclair, Inc.
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