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
Taylor Swift, Coldplay & More To Headline 2014 iHeartRadio Music Festival
CC Media Holdings Reports 1% Revenue Increase In Q2
CBS LOCAL Personalizes Event Discovery, Content Delivery With Agreement To Acquire Eventful
Jacobs Media's 6th Annual Public Radio Tech Survey Released
FMQB FYI... Links You Should Know About
July 22, 2014
Clear Channel's iHeartRadio Partners With AdsWizz
Nielsen, Pointlogic Forge Strategic Alliance To Develop Next-Gen Media Planning Solutions
Pandora Hires Lars Murray As VP Of Industry Relations
In Brief - July 22, 2014
July 21, 2014
Evolve Music Group Signs Worldwide Agreement With Capitol Music Group
Second Annual KBA WKU Radio Talent Institute Underway
2014 Conclave Learning Conference Dates Announced
In Brief - July 21, 2014
July 18, 2014
Hubbard Radio Elevates Drew Horowitz To President/COO
The Week In Review: 7/14-7/18
CCM+E Names Jeff Davis OM For Greenville & Asheville Markets
Tony Cortez Upped to APD At KTFM/San Antonio
In Brief - July 18, 2014
July 17, 2014
Report: Driving Radio's Value With U.S. Auto Buyers
In Brief - July 17, 2014
July 16, 2014
Study: Coleman Insights And knowDigital Find Opportunity For NextRadio
In Brief - July 16, 2014
July 15, 2014
CCM+E Austin Names Jonathan "JR" Reed Program Director For KHFI & KPEZ
Westwood One Partners With Radio Industry To Support NextRadio Funding
Music News
"Weird Al" Yankovic Lands First #1 Album Of His Career
Quick Hits: Hilary Duff, Pharrell & Miley Cyrus, Jack White, Ryan Adams, Mudvayne / Greg Tribbett
Godsmack Unleashes Epic "Generation Day"
Quick Hits: MAGIC!, One Direction, Kimbra, Uncle Kracker, Billy Joel
Weezer Goes "Back To The Shack"
Quick Hits: Avicii, iTunes Festival, Adam Levine, The Script, Demi Lovato, Johnny Marr
Upcoming Maroon 5 Album Features Gwen Stefani Duet
The Week In Review: 7/14-7/18
Quick Hits: Beyonce, Teen Choice Awards, Aaliyah, The Roots
Beyoncé Leads 2014 MTV Video Music Awards
Quick Hits: Bruno Mars, Kanye West & Iggy Azalea, Busta Rhymes, The Smashing Pumpkins, Pearl Jam, Johnny Winter
Sia's 1000 Forms Of Fear Is #1
Quick Hits: The Beatles, Tool, Jason Mraz, David Bowie
Train Announces Bulletproof Picasso
Quick Hits: Drake, Blink-182, Pharrell Williams, Gwen Stefani & Gavin Rossdale, Gerard Way, Cold War Kids, Alex & Sierra, Polaris Music Prize
FMQB NOW

Chase Murphy, PD
KXXM, KQXT/San Antonio

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!