Versant Media Group, Inc.
Versant Media Group Inc (VSNT) is a media and entertainment company that operates a portfolio of cable and broadcast television networks, distributing content to audiences through linear pay-TV, advertising, and digital platforms. Revenue comes from four streams: linear distribution fees paid by pay-TV operators, advertising sold against network audiences, platform revenue from digital and streaming distribution, and content licensing. In FY2025, total revenue was $6.69 billion, with linear distribution at $4.09 billion (61% of total), advertising at $1.58 billion (24%), platforms at $826 million (12%), and content licensing and other at $193 million (3%). All four segments declined year-over-year except platforms, which grew 3.9% from FY2024. The company is headquartered at 229 West 43rd Street, New York, New York, and operates networks including USA, Oxygen, SYFY, and E!. Over 50 million viewers watched content on a Versant network each week in 2025, with live sports and news comprising the majority of hours watched.
Products & Services
Cable and broadcast television networks including USA Network, SYFY, Oxygen, and E!. Licensed content includes Law & Order: Special Victims Unit (USA), Forensic Files (Oxygen), and film franchises including Harry Potter (USA and SYFY), The Hunger Games (USA), and Fast & Furious (E!). Unscripted content is produced on a work-for-hire basis and licensed to third parties. Live sports and news programming anchors audience reach across the network portfolio.
Revenue Model
Four revenue streams as of FY2025: linear distribution fees ($4.09B), advertising ($1.58B), platforms ($826M), and content licensing and other ($193M). Linear distribution and advertising are both in multi-year decline; platform revenue is growing. Programming and production costs were $2.45B in FY2025.
Customers & Markets
End markets include pay-TV operators (linear distribution fees), advertisers buying against network audiences, and digital platform partners. Advertising revenue is subject to cyclical patterns tied to political election years and sporting event schedules. The company reports over 50 million weekly viewers across its networks in 2025.
Geographic Exposure
Primary operations in the United States, subject to FCC and FTC regulation. Also subject to EU General Data Protection Regulation, UK Data Protection Act of 2018, and other international regulations, indicating some international operations. Piracy risk is noted as particularly prevalent in markets outside the United States.
Source: SEC 10-K, filed 2026-03-03
Financial Snapshot
Loading...
