Radio Revenue Roundup: Q2 2013
July 31, 2013

Journal Communications reported a successful second quarter of 2013. Overall revenue grew six percent from $95.5 million to $101.2 million. Its broadcasting division (including radio) was up by 15.3 percent to $62.9 million. Publishing fell 6.5 percent to $38.4 million. Radio revenue specifically was up 2.3 percent to $19.9 million, or 4.7 percent excluding political revenue. Local ad revenue, excluding political, was up five percent but national ad revenue, also excluding political, was down 4.9 percent.
     "Journal Communications had a solid second quarter, driven by revenue gains in our broadcast group, as well as improving advertising revenue trends in publishing. Total revenue of $101.2 million was up 6 percent year over year," said Steven J. Smith, Chairman/CEO of Journal Communications. "Operating earnings decreased 2.6 percent as lower political revenue offset operating earnings increases in broadcast, driven by NewsChannel 5 in Nashville, as well as higher earnings at our daily newspaper.
Within the Broadcast group, we continue to see core revenue growth. On a same-station basis and excluding political advertising, revenue was up six percent, with television up seven percent and radio up five percent."

Beasley Broadcast Group has released its second quarter financial results for 2013. Net revenue was up by 8.3 percent in the quarter, from $24.8 million to $26.9 million. For the first half of the year, net revenue grew by 7.4 percent to $51.7 million. Station operating income fell by 0.7 percent to $10.1 million, while operating income was down 3.6 percent to $7.4 million and net income dropped 38.9 percent to $2.4 million. However, these declines are in comparison to Q2 2012, when a pre-tax $0.8 million music license fee settlement with BMI had the effect of reducing station operating expenses in that quarter.
     Chairman/CEO George G. Beasley commented, "Beasley Broadcast Group generated its fourth consecutive period of top line growth as second quarter net revenue rose 8.3 percent and same station net revenue increased 4.2 percent. The increase in second quarter revenue reflects strong national and digital revenue growth which contributed to strength in several market clusters including Philadelphia, Las Vegas, Ft. Myers and Augusta. Overall, for our five markets that report to Miller Kaplan -- which represent approximately 75 percent of our total second quarter revenue - Beasley station clusters grew revenue by 8.4 percent while the total revenue for all reporting radio stations in these markets declined by 2.4 percent for the quarter. We attribute our out-performance to our organization-wide focus on strong core programming and targeted localism, both of which are contributing to the Company's ratings strength in its markets."
     He added, "
Notwithstanding the solid revenue growth, comparisons of our other financial metrics with the year-ago period are clouded due to the operating expense credit in last year's second quarter, and certain charges in the 2013 second quarter including a loss on the early extinguishment of debt and a prepayment fee incurred in connection with the refinancing of our second lien debt. In addition, recent initiatives in the areas of sales, programming and the further expansion of our digital offerings are expected to drive long-term revenue growth, but are resulting in higher operating expenses on a short-term basis."

Fisher Communications reported its second quarter financial results, with net income dropping from $4.3 million to $0.4 million, due to $3.9 million of pre-tax strategic transaction-related expenses. Total revenue was essentially flat at $42.1 million. Fisher's radio division saw a two percent decline in net revenue to $5.4 million, attributed to "market softness." Total TV net revenue was also flat in Q2.

Univision reported a successful second quarter of 2013, as the Spanish-language giant saw a 28 percent increase in profit to $40.7 million. Revenue was up 10.4 percent to $676.5 million. Univision radio revenue was essentially flat in Q2, but TV and digital revenue grew in the three month period. "We had another strong quarter, marked by financial and ratings growth. We also had a very successful Upfront - which tells us that our aggressive push to take share from the English-language networks is working, We are continuing to build on our momentum and extend our ongoing multiplatform evolution to meet and exceed the growing demands and preferences of our audiences," said CEO Randy Falco in a statement.




 
Breaking News
Pandora Revenue, Listenership Rises In Q1
In Brief - April 29, 2016
April 28, 2016
SiriusXM Reports First Quarter 2016 Results
CMG Tulsa Names Nathan Reed Director of Branding & Programming at KRAV-FM
Cumulus Media Shreveport Ups Julie Kansy to PD at KQHN
ASCAP Revenue Tops $1 Billion For Second Straight Year
April 27, 2016
Blaire Galaton-Kelleher Joins “The Jack Diamond Morning Show” On WRQX/Washington, D.C
Premiere Networks To Provide Distribution For Aiir
Radio Milwaukee Names Glenn Kleiman Executive Director
In Brief - April 27, 2016
April 26, 2016
CBS Radio Las Vegas Promotes JB King to Operations Manager
KLUC/Las Vegas Taps John Moug As New Afternoon Drive Host
Donna Gryn Promoted to VP of Marketing at Republic Records
KIIS FM/Los Angeles Announces Artists Performing At Wango Tango Pre-Show Village
In Brief - April 26, 2016
April 25, 2016
KROQ/Los Angeles Annouces Weanie Roast 2016
Kristie McIntyre Returns To D.C. Airwaves For Nights On WRQX
Karen Mateo Exits Her Post at CBS Radio
Beasley Las Vegas Names Mark Sturcken Director Of Sales
April 22, 2016
eQB NOW
Radio Pays Tribute To The Musical Legacy of Prince
Hubbard Radio Elevates Jeremy Sinon To Director of Digital Strategy
In Brief - April 22, 2016
April 21, 2016
Music Icon Prince Has Passed Away
Music News
As Expected, Beyoncé Tops Billboard Chart With Lemonade
FMQB Photo Pass: Pearl Jam
Blink-182 Announce Album, Tour With Matt Skiba
Drake Expands Tour, Reveals Tracklist For Views
Quick Hits: Demi Lovato & Joe Jonas, Cash Cash, Whitney Houston, Deftones' Chino Moreno
Quick Hits: Justin Bieber, Lady Gaga & Elton John, Prince, Thrival Festival, B.o.B
Quick Hits: Bumbershoot Festival, Fetty Wap, HARD Summer, Jenny Lewis, Bayside
Prince Returns To The Top Of The Billboard 200
Drake Announces Summer Sixteen Tour, OVO Fest
Quick Hits: Billboard Music Awards, Guns N' Roses, Tegan and Sara, Twin Peaks, Jennifer Hudson, Billy Paul
Beyoncé Releases New Album Lemonade Via Tidal
Tributes Continue To Pour In For Prince
Entertainment World Reacts to Sudden Loss of Prince
Quick Hits: Mumford & Sons, P!nk, Beyoncé, Mariah Carey
Meghan Trainor Announces Untouchable Tour
FMQB NOW

Nick Petropoulos
Head of Promotion
Glassnote Music

    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!