CC Media Holdings Reports 1% Revenue Increase In Q2
July 23, 2014

CC Media Holdings, Inc., the parents company of Clear Channel Media + Entertainment, has reported its financial results for the second quarter, which ended June 30. Consolidated revenues for the company increased by $12.1 million in the quarter to $1.63 billion, compared to $1.618 billion in Q2 2014. Excluding the effects of movements in foreign exchange rates, revenues increased $1.6 million or less than 1 percent.

CCM+E revenues increased slightly, and the company reported that increases in its traffic and weather business, as well as higher political and digital advertising were partially offset by lower revenue in its core national and local terrestrial radio business. CCM+E revenue in Q2 was essentially flat at $806.3 million.

Clear Channel's Americas outdoor revenues decreased $16 million, or 5 percent, to $319 million, while international outdoor revenues increased $30 million, or 7 percent, to $462 million.

"Our growing digital and events businesses continued their strong momentum during the quarter, further demonstrating the unique value that Clear Channel delivers to advertisers through our diverse set of media assets," Chairman/CEO Bob Pittman said. "At iHeartRadio, we introduced an even more personalized listener experience with the release of iHeartRadio 5.0 and grew our registered users by 50 percent year over year -- surpassing the milestone of 50 million registered users in record time. The first-ever iHeartRadio Music Awards, broadcast live on NBC, was a huge success -- attracting more than 65 million votes through Twitter and Facebook, with #iHeartAwards trending #1 on Twitter throughout the night and number one for Nielsen’s Twitter TV ratings for the entire week. In addition, we showcased the vision and innovation of our entire company to some of the world’s largest brands and agencies at the Cannes Lions International Festival of Creativity last month, while several of our clients -- including British Airways -- earned prestigious awards."

"We continued to reinforce our foundation for growth this quarter and make progress in advancing our strategy to become one of the leading technology-fueled multi-platform media and entertainment companies in America. In another significant step, we have named Brian Lakamp our President of Technology and Digital Ventures," said Rich Bressler, President/CFO. "We grew overall revenues despite some market challenges, and I am especially pleased with our efforts in International Outdoor and Media+Entertainment. Also, the changes we’ve made in Americas Outdoor position us well for the second half of the year. Underscoring our continuing financial flexibility, the quarter’s $850-million offering of senior notes was well received by the markets. In addition to our debt refinancing activities, which have created the right runway for us to keep focusing on growing our Media+Entertainment and Outdoor businesses, we’ve continued to make good on our commitment to control costs through operational efficiencies."

Breaking News
CBS Radio Signs Michael Martin To Multi-Year Contract Renewal
SportsRadio 94WIP/Philly Adds Joe Decamra & Jon Ritchie To Middays
October 19, 2016
Frankie C Extends Agreement With KZHT/Salt Lake City
Voncile Anderson Named Beasley Director/NTR Sales In Tampa Bay
In Brief - October 19, 2016
October 18, 2016
Rob Stringer Promoted To CEO Of Sony Music Entertainment
iHeartMedia St. Louis Announces The Debut Of The New Alt 104.9
Entercom Agrees To Acquire Four Radio Stations In Charlotte From Beasley Broadcast Group
Ebro Returns To Portland
Townsquare Media Names John Roberts OM For Tyler-Longview, Texas
Jacobs Media & PRPD’s 8th Annual Public Radio Tech Survey Released
In Brief - October 18, 2016
October 17, 2016
WFLZ/Tampa Names Kruz Program Director
Republic Records Promotes Wendy Goldstein To Executive Vice President
Alpha Media Mankato Names Bob Rose Market Manager
Corey B. Joins WBBM-FM (B96)/Chicago As New Night Host
October 14, 2016
Race Taylor Re-Ups With WPLJ/New York
Andrew Berger Named Imaging Director For KPWR/Los Angeles
October 13, 2016
iHeartMedia Chicago Names New Night Show Hosts
Emmis Announces Agreement to Sell Texas Monthly
Alpha Media Supports Hurricane Matthew Recovery Relief
KFM-BFM Adds Robin Roth To Roster
October 12, 2016
iHeartMedia Connecticut Names Jagger PD of WKSS & WKCI
Emmis Reaches Agreement To Sell Terre Haute Radio Stations
Music News
"Crash" Into Against Me!
Quick Hits: Radiohead, Frank Ocean, A$AP Ferg
Maroon 5 Closes The Top 40 and Hot AC Radio Panels Upon Impact
Jordan Fisher Will Make His Broadway Debut In Hamilton On November 22
Quick Hits: Kanye West, Eminem, Bruno Mars, Gwen Stefani
Pearl Jam, 2Pac & Depeche Mode Lead 2017 Rock Hall Nominees
Green Day Tops Billboard 200 For Their Third Time
Quick Hits: Liam Payne, Rock & Roll Hall Of Fame, Mother Love Bone
Quick Hits: Kings Of Leon, Elton John, Roger Waters
Maroon 5 Debuts New Single Featuring Kendrick Lamar
Louise Goffin To Perform Surprise Concert
Quick Hits: Drake, Depeche Mode
Drake Earns Record-Setting 13 American Music Award Nominations
Solange's A Seat at the Table Is Her First #1 Album
Green Day Announce 2017 North American Tour

Jon Zellner
EVP/Programming Operations

          Question Of
           The Week

FMQB Member Login

Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!