• Loading stock data...
Tuesday, October 8, 2024
The Best Employers in Sports survey is now open! Take the survey

AT&T Gets Q2 Lift From NBA

  • AT&T bounced back from a pandemic dip with a strong second quarter, buoyed by the return of the NBA on WarnerMedia’s TNT and TBS.
  • The company is in the process of selling off its media properties.
Daniel Dunn-USA TODAY Sports/Design: Alex Brooks

AT&T is offloading its media assets — but for now, those properties are paying dividends.

The company posted $44 billion in Q2 revenues on Thursday, a year-over-year boost of 7.6%, and only 2.2% below the pre-pandemic Q2 2019.

The company got a timely assist from the return of the NBA, which is key for WarnerMedia’s TNT and TBS. 

  • WarnerMedia’s revenues rose to $8.8 billion, up 30.7% from Q2 2020.
  • The NBA’s impact was reflected in WarnerMedia’s 48.5% growth in advertising revenue to $1.7 billion. 
  • AT&T is in the process of spinning off WarnerMedia in a $43 billion merger with Discovery. DirecTV is selling $3.1 billion in junk bonds to expedite its own split from AT&T.

While the telecommunications giant is stepping away from owning media properties, it’s more than happy to be the support system for other major media players. AT&T is replacing T-Mobile as the Dish Network’s primary network services provider in a deal worth at least $5 billion. 

AT&T showed the strength of its core offering, adding 1.16 million regular wireless customers in the quarter. That figure nearly quadrupled the 300,000 expected by analysts.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

exclusive

Shams Charania Joins ESPN

Charania will succeed Adrian Wojnarowski, who left ESPN last month.
Feb 16, 2024; Indianapolis, IN, USA; Team Stephen A coach Stephen A. Smith looks on against Team Shannon during the All Star Celebrity Game at Lucas Oil Stadium.

Smith’s Potential $100M Deal ‘Incredible’: Matt Barnes

Barnes believes there’s plenty of space for people across sports media to thrive.

NBA Media’s Changing of the Guard

Among other issues, networks are trying to figure out a post-LeBron coverage plan.

NHL Drawing Larger TV Audiences Thanks to ESPN, TNT Deals

This season, the NHL will cross the halfway point of its seven-year $4.37 billion media-rights deals.
podcast thumbnail mobile
Front Office Sports Today

Shams to ESPN; NHL Drops Puck

0:00

Featured Today

How the WWE’s Farm Circuit Became a Primetime Draw

NXT produces generational talent—and it occupies a new prime-time network slot.
A DraftKings sign
October 7, 2024

A DraftKings Exec Left for Fanatics. Then the Bitter Legal Battle Began

Mike Hermalyn has been sidelined at Fanatics for nine months now.
opinion
October 6, 2024

Where Is the Dang Game? Fragmentation Has Hit Fever Pitch

A correction is coming in the increasingly confusing landscape of live sports.
October 5, 2024

MLB Gets the Shohei Ohtani Postseason Treatment. The Value Is Immense

The Japanese superstar finally makes his playoff debut Saturday.
A general view of the Augusta National golf course

Reuters Deletes Stories After Reporter Got Anti-Doping Exec Into the Masters

A Reuters journalist helped a WADA official enter the Masters for free.
October 2, 2024

DSG Could Drop Seven MLB Teams, Paving Way for Manfred’s Media Plan

The surprise move by the bankrupt Bally Sports parent throws local baseball broadcasting into upheaval.
October 3, 2024

What’s Next After DSG Drops MLB Teams? Free Agency to New Deals

The affected clubs are now considering a wide variety of options for 2025 game broadcasts.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
October 2, 2024

NFL Ratings Surge in September With Chiefs in Four of Top Five Games

September NFL games averaged 17.9 million viewers.
October 2, 2024

TNT Has Staked Its Claim in College Sports Broadcasting

The network has quietly amassed a portfolio of NCAA rights.
October 1, 2024

WNBA Viewership Dips Without Clark, but Still Setting Records

Game 1 between the Connecticut Sun and Minnesota Lynx drew 654,000 viewers.
October 1, 2024

Charles Barkley Expanding Media Empire

Round Mound Media will produce more sports and cultural projects.