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 Network.
“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
for Lowe’s CNBC interview.