Transition of HSN Operations to Studio Park
HSN's operations were successfully transitioned to Studio Park in Westchester, Pennsylvania, consolidating 5 U.S. TV channels under one roof, generating cost reductions and advancing the WIN growth strategy.
Growth in Social and Streaming Channels
Social and streaming revenue experienced over 30% growth compared to Q2 2024, with significant engagement from platforms like TikTok and the launch of an ad-supported version of QVC2 on several leading SaaS platforms.
Increased Customer Engagement Through TikTok Shop
Over 100,000 new customers were acquired through TikTok shop, contributing to an increased engagement in social platforms and partially offsetting declines in traditional customer bases.
Reduction in Net Debt
QVC Group reduced net debt by over $1.5 billion since the end of 2021, creating more flexibility for business transformation.