USA Networks, New York, had first-quarter revenue of $728.9 million, up 8.5% from $671.7 million from first-quarter 1998. Its net income, however, fell from $50.9 million in first quarter 1998 to $34.2 million.
The quarter ended March 31.
Looking at certain DM-related segments, the company’s Ticketmaster Online division accounted for 8.7% of tickets sold by Ticketmaster during the first quarter, compared with 2.5% in first-quarter 1998. Combined ticketing revenue was $102.7 million, compared with $93.2 million a year earlier.
First Auction, an Internet auction site, reported more than 300,000 members by the end of the quarter, a 200% increase from March 1998. Its revenue rose more than 160% during the year.
While the company did not break out specific revenue or earnings for its Home Shopping Network division, it indicated that the network had higher sales to a younger consumer base, and that the percentage of males purchasing products had grown.
