Clear Channel Reports Revenue Increase In Q4 And Full Year 2012
February 19, 2013

Clear Channel parent company CC Media Holdings Inc. has released its fiscal report for both the full year 2012, as well as its fourth quarter. In Q4, Clear Channel consolidated revenues increased three percent to $1.7 billion, compared to $1.65 billion a year earlier. Clear Channel Media+Entertainment specifically saw its revenue grow four percent to roughly $821.5 million, due to increased political advertising as well as local and national ad growth. American revenue for Clear Channel Outdoor grew one percent to $343.4 million, while International revenue for the Outdoor division dropped by just under one percent to $459.8 million. The company's overall consolidated net loss for the quarter was $191 million, up from $43 million in Q4 2011.

For the full year of 2012, CC consolidated revenue grew by one percent to $6.25 billion, up from $6.16 billion in 2011. CCM+E revenue in 2012 was up by three percent to $3.085 billion, due to stronger advertising, as well as digital growth driven by iHeartRadio. The company reports a 100 percent rise in listening hours to the iHeartRadio platform for 2012. American Outdoor revenue was up two percent last year to just under $1.28 billion, while International Outdoor revenue was up by one percent to almost $1.668 billion. The company's consolidated net loss in 2012 was $424 million, up from $302 million in 2011.

"We are very pleased with our Company’s progress in strengthening our businesses over the past year, and we look forward to continuing our momentum into 2013," CEO Bob Pittman said. "We have put the right management team in place to focus on bringing new advertising dollars to the sector by demonstrating the value of our assets – especially our unique national platform across the media, entertainment and outdoor marketplaces. Moving forward, we will continue to use our unmatched national reach to grow our digital platforms, expand and deepen our relationships with national and local advertisers, launch innovative products and services and stage new and exciting events as only Clear Channel can."

"Despite the slow economic recovery, we delivered a solid financial performance for the 2012 fourth quarter and full year," added EVP/CFO Tom Casey. "At Clear Channel Media and Entertainment, we continued to outpace the competition in national advertising, digital, and total revenues. At Outdoor, the Americas’ progress in digital, airports and national advertising was encouraging, while International saw strength in emerging markets. Across the entire company, we remain aggressively focused on realigning our resources toward higher growth areas. 2012 was also an important year for capital markets activity, with $7.5 billion of debt raised at Clear Channel Communications and Clear Channel Worldwide Holdings in four separate transactions. Clear Channel Worldwide Holdings used proceeds for debt repayment and shareholder returns and Clear Channel Communications not only repaid debt but also gained important new flexibility to better manage liquidity and future maturities."




 
Breaking News
iHeartMedia Promotes Hardin, Zellner and Maynard
WZMP (96.5 AMP Radio)/Philly New Line-Up Announced
KLUC/Las Vegas Adds Kayla To Chet Buchanan & The Morning Zoo
88Nine Radio Milwaukee Promotes Ken Sumka To APD & Justin Barney to MD
Macklemore & Ryan Lewis, iHeartRadio joins Chegg for Music101 Series
Mark “Shark” Ediss Named Afternoon Drive Host At Y100/Savannah
August 27, 2015
Cumulus Goes Underground Alternative In New Orleans
August 26, 2015
Subaru Embraces HD Radio Receivers
Cort Johnson Named APD/Morning Co-Host on 101.9 KINK/Portland
Howard Stern Presents "Booey 25" On SiriusXM Channels
August 25, 2015
Sony Music Entertainment Acquires Century Group
UMG Names Jeffrey Remedios President & CEO/Universal Music Canada
Where Hip Hop Lives App Now Available to International Audiences
August 24, 2015
Leslie Scott Named Program Director Of KNDD/Seattle
Rdio Launches “Promoted Music Experiences” With Hard Rock Hotels & Casinos
Report: Radio Has 30 Million Amplifiers Nationwide
In Brief - August 24, 2015
August 21, 2015
eQB NOW
Entercom South Florida Launches New Alternative Rock 104.3 The Shark
In Brief - August 21, 2015
August 20, 2015
Nielsen Study Shows The Power Of Small & Medium Sized Markets
MoBounce Named Afternoon Host For Z100/New York
In Brief - August 20, 2015
August 19, 2015
Music News
Justin Bieber Debuts New Single
Quick Hits: Nicki Minaj, Adele, OMI
Demi Lovato Feeling "Confident" on Fifth LP
Quick Hits: Justin Bieber, Mariah Carey, Omarion, Soundgarden
Pharrell, Demi Lovato & More Added To MTV VMAs Lineup
Quick Hits: Lady Gaga, HBO, Maroon 5, Nick Jonas
MTV To Honor Kanye West
Quick Hits: One Direction, Missy Elliott / The Voice, Azealia Banks, Meg Myers, Coheed and Cambria, Ben Folds
Dr. Dre Issues Apology To "The Women I've Hurt"
Quick Hits: Taylor Swift, album sales, Charli XCX & Bleachers, Chris Brown, Bon Jovi, Voodoo Music + Arts Festival
Quick Hits: JoJo, Kanye West / Frank Ocean, Carrie Underwood, Charlie Puth, The Neighbourhood
The Weeknd Announces The Madness Fall Tour
Quick Hits: Lana Del Ray, Alanis Morrissette, Kelly Clarkson, Silversun Pickups
Nick Jonas & Demi Lovato To Headline MTV Benefit Concert For Lifebeat
Pharrell, One Direction Join Apple Music Festival
FMQB NOW

Mike McVay
SVP/Content & Programming
Cumulus Media

Advertisement:
Search FMQB.com
Advertisements:
FMQB Member Login
Email:
Pass:

Save
Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!