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Overview of The E.W. Scripps Company (NASDAQ: SSP)
The E.W. Scripps Company is a leading diversified media organization that operates across multiple platforms, including broadcast television, digital media, and national entertainment networks. Founded in 1878, Scripps has a long-standing commitment to delivering high-quality journalism and entertainment to audiences nationwide. The company’s motto, "Give light and the people will find their own way," reflects its dedication to informing and empowering communities.
Core Business Segments
Scripps operates through two primary segments:
- Local Media: This segment encompasses more than 60 local television stations across 40+ markets in the United States. These stations include affiliates of major networks such as ABC, NBC, CBS, and FOX, as well as independent and low-power stations. Local Media generates revenue through advertising sales, retransmission fees, and digital operations, serving as a trusted source of news, weather, and community information.
- Scripps Networks: This segment includes national news outlets such as Scripps News and Court TV, alongside entertainment brands like ION, Bounce, Grit, ION Mystery, and Laff. These networks reach nearly every U.S. household through over-the-air broadcasts, cable, satellite, and digital platforms. Revenue is primarily derived from advertising sales and content distribution agreements.
Key Offerings and Partnerships
Scripps is known for its innovative approach to content delivery and strategic partnerships:
- Sports Programming: Through its Scripps Sports division, the company partners with professional leagues like the NHL, WNBA, and NWSL to broadcast games and related content. Recent agreements include deals with the Florida Panthers and Vegas Golden Knights, enhancing its portfolio of live sports programming.
- National Programming: Scripps produces and distributes popular shows such as "The List" and "The Now," and operates award-winning investigative journalism teams.
- Educational Initiatives: The company is the long-time steward of the Scripps National Spelling Bee, the nation’s largest and most successful educational program.
Market Position and Competitive Landscape
Scripps is one of the largest independent owners of local TV stations in the U.S., reaching nearly 20% of American households. It competes with other media conglomerates by emphasizing local journalism, free over-the-air broadcasting, and digital innovation. Its commitment to objective reporting and community engagement sets it apart in a crowded media landscape.
Revenue Streams and Business Model
The company’s revenue is driven by:
- Advertising: Local and national advertisers leverage Scripps’ platforms to reach targeted audiences.
- Retransmission Fees: Payments from cable and satellite providers for carrying Scripps’ local stations.
- Content Licensing: Distribution agreements for its national networks and digital platforms.
Commitment to Journalism and Public Service
Scripps has a deep-rooted commitment to journalism, as evidenced by its award-winning investigative reporting and initiatives like National News Literacy Week. The company also prioritizes public service through its local news coverage, emergency weather alerts, and community programming.
Conclusion
As a pioneer in the media industry, The E.W. Scripps Company continues to adapt to changing audience preferences while maintaining its focus on quality journalism and innovative content delivery. Its diverse portfolio, strategic partnerships, and commitment to public service make it a significant player in the U.S. media landscape.
The E.W. Scripps Company (NASDAQ: SSP) has appointed Brian Joyce as the new vice president and general manager for KMGH, the ABC affiliate in Denver, effective May 8, 2023. Joyce brings over 25 years of broadcasting experience and previously served as vice president and general manager at KPAX in Missoula, Montana. His leadership is recognized for fostering collaboration and community engagement. Joyce is expected to enhance the Denver station's connection with the audience and advertisers. He replaces Dean Littleton, who transitioned to oversee Scripps' local stations. Joyce holds a bachelor's degree in broadcast journalism from Oklahoma State University and has completed executive leadership training at The Wharton School of Business.
Court TV reported record viewership highs from the recent high-profile trials of Alex Murdaugh and Gwyneth Paltrow. Following this surge, a new docuseries titled "Accomplice to Murder with Vinnie Politan" is set to premiere on May 7, 2023, at 8 p.m. The series will explore the roles of accomplices in murder cases, featuring stories from individuals connected to infamous trials over the past three decades. The first episodes will cover cases from Florida and Mississippi, highlighting complex narratives involving familial violence and wrongful accusations. Politan, a seasoned legal journalist, hosts the series, aiming to present a broader view of murder cases beyond just the main suspects.
The Women's National Basketball Association (WNBA) and The E.W. Scripps Company (NASDAQ: SSP) have entered a multi-year partnership to broadcast WNBA games on ION every Friday night during the regular season. This initiative, named 'WNBA Friday Night Spotlight on ION,' will run from May 26 to September 8, 2023, across 15 weeks.
This collaboration marks the WNBA as the first sports property featured on ION, allowing broader access for fans via over-the-air, pay TV, and connected TV services. Scripps plans to enhance visibility for women's basketball through robust promotional efforts across its various networks and local stations. WNBA Commissioner Cathy Engelbert emphasized the growing demand for game access, while Scripps CEO Adam Symson highlighted a commitment to elevating women's sports visibility.
Bounce, the entertainment network targeting African Americans, announced that its hit series "Act Your Age" will return on June 3, 2023, with two new episodes at 8 p.m. ET. This marks the continuation of its first season, consisting of 16 episodes. The show premiered in March, attracting 2.14 million viewers, making it Bounce's most-watched half-hour series debut. The sitcom features three women in their 50s navigating personal crossroads and stars notable actors like Kym Whitley and Tisha Campbell. Bounce will air double features of the first seven episodes starting April 29 and a marathon on May 27. The series is produced by MGM Television, aiming to capture a diverse audience with engaging content.
The E.W. Scripps Company (NASDAQ: SSP) will report its first-quarter 2023 operating results before market open on May 5, 2023. The earnings conference call will occur on the same day at 9:30 a.m. Eastern Time.
Investors can join the call via webcast or call (844) 867-6169 (U.S.) or (409) 207-6975 (international) with the access code 4229660. A replay will be available from 1:30 p.m. Eastern Time on May 5 until midnight June 5 via (866) 207-1041 (U.S.) and (402) 970-0847 (international) using the access code 8752910.
The company emphasizes its commitment to quality local journalism and operates a diverse portfolio of 61 stations across 41 markets, making it a significant player in the media landscape.
CINCINNATI, April 4, 2023 – The Scripps Howard Fund celebrated its 1 millionth book donation in the "If You Give a Child a Book ..." campaign by distributing 25,000 copies of "Dog Man: Twenty Thousand Fleas Under the Sea" to at-risk children. The Fund raised $1 million this year, providing 200,000 books nationwide, and surpassing 1 million books distributed since 2016. This initiative focuses on supporting literacy among children in Title 1 schools, emphasizing the importance of 10 age-appropriate books per child annually.
The new Bounce original series "Act Your Age" premiered on March 4, 2023, and drew in 2.14 million viewers, making it the most-watched half-hour series launch in Bounce history. The series features a storyline about three successful women in their 50s navigating life changes together. Starring Kym Whitley, Tisha Campbell, and Yvette Nicole Brown, the show airs weekly on Saturdays at 8 PM ET and will consist of 16 episodes, split into two parts. Its initial success is significant for Bounce's programming strategy and audience engagement.
The E.W. Scripps Company (NASDAQ: SSP) reported fourth-quarter 2022 revenue of $681 million, up 9.4% year-over-year, and segment profit of $204 million, a 21% increase. Growth was driven by political advertising and distribution revenues. Scripps plans a reorganization expected to save at least $40 million annually. Key developments included the launch of Scripps Sports and the incorporation of the Scripps News unit. Local Media revenues rose to $433 million, boosted by a record $106 million in political revenue. However, Scripps Networks revenue fell 9.2% due to macroeconomic challenges. Looking ahead, Local Media revenue is projected to decline in early 2023.
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