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
jācapps Cracks The Connected Car Code For Radio
ABC Radio, SLS Las Vegas & Skyview Networks Announce Strategic Sales & Radio Programming Relationship
WLTW/New York Celebrates Broadway This Summer At 106.7 LITE FM’s Broadway in Bryant Park 2016
CBS Radio Grabs Its Share of Gracie Awards
WXPN/Philadelphia Reaches A Milestone 30,000 Members
June 27, 2016
iHeartMedia-Columbia Names Jonathan Reed Program Director At WNOK
Hilary Returns to 91X/San Diego
Greater Media Restructuring Leads to Layoffs
June 24, 2016
European Music Industry Reacts to "Brexit"
iHeartMedia-Nashville Names Morgan Huelsman Digital PD
In Brief - June 24, 2016
June 23, 2016
Republic Records Names Dan Cohen As VP/Marketing
WMMR/Philadelphia's 11th Annual I Bleed For Preston & Steve Blood Drive Hailed A Big Success
CBS Radio's Lisa Dent, Tim Roberts & Mick Anselmo Honored By Country Radio Hall Of Fame
June 22, 2016
Cumulus Media Appoints John Abbot as Chief Financial Officer
iHeartMedia Cannes Event With Ryan Seacrest And Usher
Berlin School & iHeartMedia Announce Return Of 'Leadership in Audio Innovation' Scholarship Competition
iHeartMedia/St. Louis Announces Launch Of Pride Radio St. Louis
June 21, 2016
Community Broadcasters Purchase Florida Stations From Apex Broadcasting
jācapps to Host Webinar on Understanding the Connected Car
NAB Introduces Inaugural PILOT Innovation Challenge
Report: Syndicated Radio Morning Host Kane Arrested For Allegedly Assaulting Wife
In Brief - June 21, 2016
June 20, 2016
Public Voting for National Radio Hall of Famers Starts Today
Music News
Jennifer Hudson Signs With Epic Records
Quick Hits: Pink Floyd, Riot Fest
BET Awards Honor Prince, Get Political
Drake Still at #1, Chili Peppers Debut at #2
Kelly Clarkson Signs Worldwide Deal With Atlantic Records
Quick Hits: Bernie Worrell, Rihanna, Aerosmith, Kennedy Center Honors, Ralph Stanley
Led Zeppelin Wins Copyright Trial
Quick Hits: Kanye West, The BET Awards
Kanye West, The Weeknd + more to play The Meadows Music and Arts Festival
Quick Hits: Music Midtown festival, Drake, Chance the Rapper. Outta This World concert, Maynard James Keenan
Nick Jonas Debuts at #2, Drake Still Tops Billboard 200
Quick Hits: Made In America festival, Drake, Rita Ora, P.M. Dawn, Grouplove, The Beatles
Quick Hits: Guns N' Roses, Christina Aguilera, Meat Loaf, Suicide Squad soundtrack
The Recording Academy Announces Amendments and Dates For Grammy Voting
Quick Hits: Phantogram and Tupac Shakur
FMQB NOW

Brad Savage, PD
WAPS/Akron

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!