Emmis Announces First Quarter Earnings
July 10, 2014
Untitled Document

Emmis’ radio net revenues for the first fiscal quarter were up 22%, from $36.9 million to $45.0 million. This includes reported revenue from New York’s Urban AC WBLS (107.5 FM) and Gospel WLIB-AM (1190 AM), which Emmis began operating pursuant to a Local Marketing Agreement on March 1, 2014. On a pro forma basis, assuming results for WBLS and WLIB were included in the same quarter of the prior year, radio revenues would have been flat. Per Miller Kaplan reporting, which excludes barter revenues and syndication revenues, Emmis’ stations were up 1.6% compared to local radio market revenues down 5.5% during the fiscal quarter.

Publishing net revenues were up 7% in the first fiscal quarter, driven by higher advertising rates and an increase in custom publishing business.

For the first fiscal quarter, operating income was $6.6 million, compared to $7.0 million for the same quarter of the prior year. Emmis’ station operating income for the first fiscal quarter was $13.4 million, compared to $13.1 million for the same quarter of the prior year.

“While our markets continue to be tested, our stations and employees have risen to the challenge and continue to outperform our markets,” Jeff Smulyan, President & CEO of Emmis said. “We continue to believe NextRadio, the Emmis-led industry initiative to make FM broadcast radio available on smartphones and tablets, is a game-changer for the radio industry a nd will reignite growth. We have spent the last year building out the NextRadio ecosystem, and now we are entering a critical phase to build consumer awareness. I’m proud of our team for its continuing focus on innovation and operational excellence.”




 
Breaking News
Joe Clair Returns To WPGC For Mornings
CBS Sports Radio To Broadcast Nearly 50 Hours Of Super Bowl Coverage
In Brief - January 26, 2015
January 23, 2015
eQB NOW
Tommy Chuck Named Program Director of WIHT/Washington, D.C. & WPOC/Baltimore
iHeartRadio Surpasses 60 Million Registered Users
SFX Entertainment Names New President & COO
Third Music Industry Reunion Planned For Los Angeles
In Brief - January 23, 2015
January 22, 2015
Edgar "Shoboy" Sotelo Joins WBMP/New York For Mornings
Rdio Launches In 24 New International Markets
Shazam Announces $30 Million Investment At $1 Billion Valuation
iHeartMedia Celebrates Valentine's With "iHeartRadio Ultimate Valentine's Escape"
In Brief - January 22, 2015
January 21, 2015
Dave Dyer Promoted to SVP Promotion, Warner Bros. Records
JD Garfield Joins KWYD/Boise As APD/Morning Drive Host
iHeartRadio Country Festival Returns
Edison Research: Streaming Audio Now Bigger Than AM/FM Radio Among US Teens
In Brief - January 21, 2015
January 20, 2015
John Fleckenstein Named EVP, RCA Records
iHeartMedia St. Louis Announces Two New Program Directors
Local Radio Networks, AdLarge Media Form Exclusive Partnership For 24/7 Format Radio Network
Len Berman And Todd Schnitt To Host Mornings On WOR
Scott Shapiro Named VP/Sports Programming For Premiere Networks
Jim Daunais, Tim Walker Promoted To EVP Posts At Westwood One
Tony Waitekus Appointed OM For NRG Media's Wausau-Stevens Point Stations
Music News
Slipknot Prepares For Summer's Last Stand
ThinkSay Records Signs Recording Artist Matt White
Quick Hits: Blink-182, Faith No More, Death Cab For Cutie, U2, Jason Mraz, AWOLNATION
Paramore Announce Spring Theater "Events"
Quick Hits: Kanye West, The Black Keys, Rush, Nick Jonas
BET Honors Usher, Kanye West
Quick Hits: Ariana Grande, TLC, Art Of Anarchy, Rob Zombie, Aerosmith, Rocklahoma
Meghan Trainor's Title Debuts At #1
LL Cool J Returning As Grammy Host
Quick Hits: The Grammys, Gwen Stefani, Pharrell, Linkin Park, Interpol, David Byrne
Madonna Bares Her Rebel Heart
Quick Hits: Slipknot, Justin Bieber, NKOTB / TLC / Nelly, Mötley Crüe, "Weird Al" Yankovic
FMQB Retro-Active: Ken Sharp Talks to Longtime Music Scribe Harvey Kubernik About His Latest Musical Tome
Quick Hits: Metallica, A$AP Yams, TLC, Ariana Grande
Grateful Dead Members To Reunite For 50th Anniversary
FMQB NOW

Alicia Tyler, PD
WZNE/Rochester

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!