Oprah Winfrey’s OWN will continue to operate in the red for at least the next two years, parent company Discovery Networks admitted.
A joint venture co-owned by Winfrey and Discovery, OWN launched with great fanfare in January 2011 in the hopes that it would do for cable television what Oprah’s old show did for daytime talk — namely, carve a unique niche that would attract millions of followers and earn millions of dollars.
So far, neither of those things have happened, Discovery conceded in its annual report, The Hollywood Reporter reports here.
“The company’s funding to OWN is expected to exceed OWN’s earnings for the next two years,” the report says. The THR story notes that the report also includes the company’s assertion that OWN will make money eventually. “While the company expects to provide significant additional funding to OWN, the company also expects to recoup amounts funded,” the annual report said, according to THR.
The story says Discovery has already invested $312 million in OWN.
One of the modest bright spots on OWN has been Oprah’s own show, “Oprah’s Next Chapter,” which has at least put some ratings on the board where they didn’t exist before on Sunday nights. In a recent show, Oprah visited with Hasidic Jews in Brooklyn for a very illuminating look at their insulated community.
In the next episode of “Oprah’s Next Chapter,” Oprah visits with motivational guru Tony Robbins — Sunday night (Feb. 19) at 9/8c on OWN.