Financial Times FT.com

Viacom given a big-screen film boost

By Andrew EdgecliffeJohnson in New York

Published: July 30 2008 03:00 | Last updated: July 30 2008 03:00

A stronger box office showing by Viacom's Paramount film studio offset weaker advertising revenues than expected at US cable channels such as MTV in the second quarter, the media group reported yesterday.

Philippe Dauman, chief executive, said domestic advertising growth at Viacom's media networks division was just 1 per cent, below its earlier 3-4 per cent forecast, after a "significant" fall-off in spending by retail, automotive and some consumer-goods advertisers.

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