Oprah's rebounding OWN adds 2 hot soap operas
Winfrey's cable network is picking up the online reboots of 'One Life to Live' and 'All My Children' as things start turning around.
OWN, which is partially held by Discovery Communications (DISCA), expects to be profitable this year as viewership continues to surge, thanks to its partnership with filmaker Tyler Perry. According to the Los Angeles Times, ratings are up 30% since 2011. The channel remains hugely popular among its core demographic of African-American women ages 25-54. Now, OWN is betting that adding two soap operas will help it add even more viewers.
OWN is picking up "All My Children" and "One Life to Live" (pictured), two soaps that were rebooted online after being canceled by Walt Disney's (DIS) ABC network. They'll get a 10-week run, according to The Hollywood Reporter. It's a smart move, given the genre's enduring popularity, especially among women. Both "All My Children" and "One Life to Live" get top rankings on Hulu and Apple's (AAPL) iTunes.
Though OWN hasn't said whether it will add more episodes if the shows prove popular, odds are strong that would happen. The demise of soap operas, which many pundits predicted, hasn't happened. Instead, the soaps on broadcast networks all reported gains in total viewers from June 10 to June 14, according to Nielsen.
Among the genre's fans is Winfrey. She had Genie Francis and Anthony Geary, better known to fans of ABC's "General Hospital" as Luke and Laura, as guests on her old talk show. When the soaps were originally canceled, she rebuffed overtures from fans that she put them on her channel.
Of course, they're now grateful for Winfrey's change of heart.
OWN's future had seemed bleak. As Bloomberg Businessweek noted in 2012, the network may have lost as much as $330 million from its start in 2008 through the end of 2011.
Shares of Discovery traded up Thursday morning, gaining 91 cents to $76.63 and have climbed more than 43% this year.
Jonathan Berr doesn't own shares of the listed stocks. Follow him on Twitter@jdberr.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
- Apr gold dipped to a session low of $1337.80 per ounce in late morning action after trading as high as $1352.90 per ounce earlier in the session. However, the yellow metal managed to push back into positive territory and settled at $1346.50 per ounce, or 0.4% higher.
- May silver pulled back from its session high of $21.33 per ounce and brushed a session low of $20.67 per ounce by late morning pit trade. It eventually settled with a 0.4% loss at $20.82 per ... More
More Market News
The apparel chain takes a hard hit after blaming the weather for its quarterly sales decline. But cold temperatures don't explain the drop in full-year sales as well.
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'