Seems like OWN is costing a lot more than previously planned!
Despite the fact that the new network will not be making a profit in its first year, sources say that parent company Discovery Communications will have to shell out an additional $50 million to invest in longer-term programming.
Twenty-four new shows will be slated to launch later this year, which will help boost the ratings.
CEO David Zaslav has faith in Oprah Winfrey's network saying that viewership has been up by 30% compared to a year ago, before OWN replaced the Discovery Health channel. Besides having strong deals with advertisers, he adds, "we have one of the best brands in media and a very engaged Oprah."
We still have faith in OWN and believe that it has the potential to become a great network. Besides, dontcha think ratings will go through the roof with the new Rosie O'Donnell show??
What do U think of OWN's programming??
Tags: break even, discovery, invest, network, own, programming