Discovery Education Revenue Down in Q3

Discovery Education Revenue Down in Q3

From Electronic Education Report, November 11, 2013

Education revenue at Discovery Communications for the third quarter was $22 million, down 12% from $25 million in the prior-year quarter, reflecting changing timing of the sale of some assessment products. For the nine months ending Sept. 30, Discovery Education revenue was $73 million, up 4.3% from the prior year.

Adjusted operating income before depreciation and amortization for Education was $2 million in the third quarter, down from $5 million in third quarter 2012. Nine-month OIBDA for Education was $13 million, versus $14 million in the prior-year period.

Discovery reaffirmed full 2013 guidance for company revenue between $5.55 billion and $5.63 billion with adjusted OIBDA between $2.43 billion and $2.48 billion. Discovery Education accounts for less than 2% of company sales.

Partnering on Professional Development

In the third quarter, Discovery began creating and implementing a professional development initiative in partnership with Meridian (ID) Joint School District No. 2. The effort is intended to provide district educators with a broad conceptual view for addressing the Common Core State Standards, assessment literacy and the use of digital resources to improve instruction and achievement. Working together, Discovery and Meridian will create a three-year professional development sustainability plan.

The Meridian schools already use Discovery Education Streaming Plus for model lessons and access to digital learning objects including videos, games, images, writing prompts and articles.•