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
Beasley Broadcast Group Names New Management Team In Tampa-St. Petersburg
Beasley Promotes Chris O’Kelley To OM In Augusta, GA
Darla Thomas Named PD At WLNK-FM
November 25, 2014
Entravision Announces Extension Of Share Repurchase Program
OG 97.9 FM Debuts In Atlanta Today
Kassof Research: Country P1’s: Country Proud
In Brief - November 25, 2014
November 24, 2014
T-Mobile Doubles Down On Music Freedom, Adds 14 New Services
Shawn Barron Named VP, Urban A&R For Atlantic Records
Kassof Research: A/C P1’s: Comfort Food
In Brief - November 24, 2014
November 21, 2014
RAB Report: Radio Shows Double-Digit Growth In Digital Revenue For Q3
The Week In Review: 11/17-11/21
Jaysson Reno Named VP, Sales For KGO-AM, KSFO-AM
Kassof Research: CHR P1's: Excited & Social
In Brief - November 21, 2014
November 20, 2014
Cumulus Promotes Jeff Davis To National Director Of Stratus Music Scheduling
Mike Fredrick Named Hubbard Radio Cincinnati VP/Market Manager
Hubbard Radio Announces New Division, 2060 Digital, LLC
Kassof Research: Christian Radio P1’s: Mission Accomplished
In Brief - November 20, 2014
November 19, 2014
Musicians On Call Raises $700,000 At 15th Anniversary Celebration
iStreamMEDIA Adds Christopher Cottrill As VP/Music Content, Programming
Jordan Blaugrund Promoted To VP, Digital Marketing, RCA Records
DeVito/Verdi Retained To Drive Awareness Of NextRadio App
Music News
One Direction Celebrate 4th Straight #1 Album
Quick Hits: Rihanna, Bruce Springsteen, Prince, Scott Stapp
Fall Out Boy To Drop Album in January
Quick Hits: Kurt Cobain, One Direction, Bob Dylan, Baha Men
One Direction Dominates 2014 AMAs
Katy Perry Is Ready For Some Football
Quick Hits: 5 Seconds of Summer, Drake & 2 Chainz, Grammy Foundation Legacy Concert, James Blake & Kanye West
Iggy Azalea, J. Lo To Team Up on AMAs
The Week In Review: 11/17-11/21
Quick Hits: Saturday Night Live, Billboard Touring Awards, YouTube Music Awards, Arcade Fire
Quick Hits: One Direction, Taylor Swift, Young The Giant, Guns N' Roses, Jimmy Ruffin
Taylor Swift's 1989 Remains At #1
Quick Hits: U2, Katy Perry, Paramore, Lana Del Rey, The Voice
Foo Fighters Announce Major 2015 North American Tour
Ed Sheeran Launches "Thinking Out Loud"
FMQB NOW

Jon Zellner
SVPP, iHeartMedia

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!