Q2 Results For Radio One, Inc.
August 5, 2014
Untitled Document
Radio One, Inc. today reported its results for the quarter ended June 30, 2014.  Net revenue was approximately $108.4 million, a decrease of 9.4% from the same period in 2013, resulting primarily from a timing difference of Reach Media's annual cruise event.  Station operating income1 was approximately $41.0 million, a decrease of 10.0% from the same period in 2013. The Company reported operating income of approximately $22.4 million for the three months ended June 30, 2014, compared to operating income of $18.3 million for the same period in 2013. Net loss was approximately $10.8 million or $0.23 per share compared to $14.2 million or $0.29 per share, for the same period in 2013.

Alfred C. Liggins, III, Radio One's CEO and President stated, "Our radio division experienced a combination of general market-softness and specific competitive issues. In the markets in which we operate, advertising revenues were down by 3.8% for the quarter compared to our core radio performance of –4.1%.  Part of that decline resulted from the impact of a new competitor in Houston, which has adversely impacted our ratings in that market. Excluding Houston, we outperformed our markets by approximately 210 bps. Third quarter radio revenue pacings are currently negative mid to high single digits, and, while we expect some lift from political advertising, I anticipate that Q3 radio revenues will be down low to mid-single digits. Cable TV revenues were relatively flat for the quarter, and we remain focused on the successful renewal of our carriage agreements."

 


 




 
Breaking News
iHeartMedia Promotes Hardin, Zellner and Maynard
WZMP (96.5 AMP Radio)/Philly New Line-Up Announced
KLUC/Las Vegas Adds Kayla To Chet Buchanan & The Morning Zoo
88Nine Radio Milwaukee Promotes Ken Sumka To APD & Justin Barney to MD
Macklemore & Ryan Lewis, iHeartRadio joins Chegg for Music101 Series
Mark “Shark” Ediss Named Afternoon Drive Host At Y100/Savannah
August 27, 2015
Cumulus Goes Underground Alternative In New Orleans
August 26, 2015
Subaru Embraces HD Radio Receivers
Cort Johnson Named APD/Morning Co-Host on 101.9 KINK/Portland
Howard Stern Presents "Booey 25" On SiriusXM Channels
August 25, 2015
Sony Music Entertainment Acquires Century Group
UMG Names Jeffrey Remedios President & CEO/Universal Music Canada
Where Hip Hop Lives App Now Available to International Audiences
August 24, 2015
Leslie Scott Named Program Director Of KNDD/Seattle
Rdio Launches “Promoted Music Experiences” With Hard Rock Hotels & Casinos
Report: Radio Has 30 Million Amplifiers Nationwide
In Brief - August 24, 2015
August 21, 2015
eQB NOW
Entercom South Florida Launches New Alternative Rock 104.3 The Shark
In Brief - August 21, 2015
August 20, 2015
Nielsen Study Shows The Power Of Small & Medium Sized Markets
MoBounce Named Afternoon Host For Z100/New York
In Brief - August 20, 2015
August 19, 2015
Music News
Justin Bieber Debuts New Single
Quick Hits: Nicki Minaj, Adele, OMI
Demi Lovato Feeling "Confident" on Fifth LP
Quick Hits: Justin Bieber, Mariah Carey, Omarion, Soundgarden
Pharrell, Demi Lovato & More Added To MTV VMAs Lineup
Quick Hits: Lady Gaga, HBO, Maroon 5, Nick Jonas
MTV To Honor Kanye West
Quick Hits: One Direction, Missy Elliott / The Voice, Azealia Banks, Meg Myers, Coheed and Cambria, Ben Folds
Dr. Dre Issues Apology To "The Women I've Hurt"
Quick Hits: Taylor Swift, album sales, Charli XCX & Bleachers, Chris Brown, Bon Jovi, Voodoo Music + Arts Festival
Quick Hits: JoJo, Kanye West / Frank Ocean, Carrie Underwood, Charlie Puth, The Neighbourhood
The Weeknd Announces The Madness Fall Tour
Quick Hits: Lana Del Ray, Alanis Morrissette, Kelly Clarkson, Silversun Pickups
Nick Jonas & Demi Lovato To Headline MTV Benefit Concert For Lifebeat
Pharrell, One Direction Join Apple Music Festival
FMQB NOW

Mike McVay
SVP/Content & Programming
Cumulus Media

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!