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
BIA/Kelsey: Location-Targeted Mobile Ad Spending to Pass $32B in 2021
iHeartMedia Washington, DC Names Riley Co-Host On Hot 99.5's The Kane Show
WMMR/Philadelphia Adds Brent Porche To Host Overnights
January 23, 2017
Ajit Pai Officially Named New FCC Chairman
Sprint Acquires 33% Of Tidal
KHTS (Channel 933)/San Diego Names Ethan Cole New Nighttime Host
Alpha Media Moberly-Macon Names Mike Jenkins Market Manager
Beasley Media Group Tampa Bay Florida Introduces Playa 106.9, Salsa y Mas!
Hackers Hack Hot 99.5/Washington, DC
January 20, 2017
WMOV (Movin 107.7)/Norfolk Names Danny Meyers PD/Morning Host
WBFX (101.3 The Brew)/Grand Rapids Set To Debuts Rover’s Morning Glory
WRVW and Promotion in Motion
January 19, 2017
Afternoons With Adam Bomb Debuts on Q100/Atlanta
Beasley Media Group Names Randy Bliss OM For Fayetteville Market
Beasley Media Group Expands Responsibilities For Urban PD Tap Money
Nadine Santos Promoted To Director/Programming & Artist Relations At Music Choice
UMG And Alex Da Kid Sign Multi-Faceted Agreement
Debra Green Takes Over Nights On WSRV/The River
January 18, 2017
Gregg Nadel Named President of Elektra Records
CBS Radio Rebrands KVIL And AMPs Up The Dallas-Fort Worth Market
KDND/Sacramento Is Looking For Next Night Superstar
January 17, 2017
Angi Taylor Joins The Rendezvous
Randy Savage Joins Cumulus As OM Wilkes Barre/Scranton, PA Cluster
Hubbard Radio Chicago Signs Eric & Kathy To Multi-Year Agreement
Jill Devine Signs Multi-Year Renewal At KYKY/St. Louis
Music News
Sasquatch Fest Lineup Led by Twenty One Pilots, Chance the Rapper & Frank Ocean
Quick Hits: The xx, Mumford & Sons, The 1975, The Decemberists, The Roches
Justin Timberlake, Britney Spears Among People's Choice Award Winners
Quick Hits: Adele, Train, Arcade Fire
Quick Hits: Grammy Lineup, Audioslave, Third Eye Blind
Maroon 5 Scores Their Ninth #1 Top 40 Hit
Quick Hits: Lollapalooza Paris, Metallica, Brit Awards, U2, Radiohead, George Harrison, Dave Matthews & Tim Reynolds
Quick Hits: Ed Sheeran, Ariana Grande, John Legend, Fifty Shades Darker, Trent Reznor
U2, Chili Peppers, The Weeknd & Chance the Rapper Headlining Bonnaroo
Quick Hits: Ed Sheeran, Prince
Quick Hits: Rocklahoma, Prince's Estate, Big Sean, Shaky Knees Music Festival, Spoon
U2 Announce Joshua Tree Anniversary Tour
Quick Hits: Panorama Festival, Green Day, Billboard 200, A Perfect Circle
Ed Sheeran Releases Two New Singles
Tool, Chance the Rapper & Phoenix Headlining Governors Ball
FMQB NOW

 

Question Of
The Week

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!