HGTV and DIY Network are enjoying “probably their best year ever, totally, not only in ratings but advertising as well,” Ken Lowe, Scripps Networks Interactive’s chairman, CEO and president, told CNBC today.
Lowe credited an improving housing market for the boosting all of the company’s lifestyle media channels.
“When you see people enjoying their homes and the housing market, feeling better and being better, then that just naturally allows our networks to flourish,” Lowe said.
Lowe was on CNBC to mark the 20th anniversary of the Food Channel.
“Who would have thought, right, a little network about how to boil water is now celebrating its 20th anniversary and over the years it’s really become a pop culture icon and started so many chefs down the path of becoming celebrities, if you will,” Lowe said.
Investors surely enjoy the company’s growth, if not the over abundance of celebrity chefs. SNI’s share price was trading around $78.45 by mid afternoon, up more than 32 percent for the year.
Scripps Networks portfolio of cable channels includes HGTV, DIY Network, Food Network, Cooking Channel, Travel Channel and Great American Country
Click here for Lowe’s CNBC interview.
Despite cuts in government spending and payroll tax increases, the state and national economies are poised for solid growth in 2014 and 2015, a University of Tennessee report says.
Driving the growth are improved job creation, surging vehicle sales and a recovering housing market, according to the spring 2013 Tennessee Business and Economic Outlook.
“The economy has finally found a firm footing,” Matt Murray, associate director of the UT Center for Business and Economic Research and the report’s author, said in a news release “This will be the third year of payroll employment growth and a falling unemployment rate following the Great Recession.”
Nationally, payrolls are expected to grow 1.5 percent this year and 1.6 percent in 2014, the report said.