Cumulus Reports Operating Results for Second Quarter 2014
August 6, 2014

Cumulus Media Inc. today announced operating results for the three and six months ended June 30, 2014.

On an actual basis, net revenues for the three months ended June 30, 2014 increased $57.9 million, or 21.4%, to $328.2 million, compared to $270.3 million for the three months ended June 30, 2013. The increase resulted from increases of $44.1 million, $7.0 million, $2.7 million and $4.1 million in broadcast advertising, digital advertising, political advertising and license fees and other revenue, respectively. These increases were primarily attributable to the addition of the operations of WestwoodOne, which was acquired by the Company in December 2013. The increases were partially offset by decreases in local spot and national spot revenue. The increase in political advertising was due to additional activity associated with mid-term and gubernatorial elections in the current period.

On an actual basis, content costs for the three months ended June 30, 2014 increased $39.5 million, or 63.5%, to $101.8 million, compared to $62.3 million for the three months ended June 30, 2013. This increase was primarily attributable to the addition of the operations of WestwoodOne. Content costs in the prior period were reduced by credits related to music publishing royalty reductions that amplify the period over period comparison.

On an actual basis, other direct operating expenses for the three months ended June 30, 2014 increased $18.5 million, or 18.5%, to $118.4 million, compared to $99.9 million for the three months ended June 30, 2013. This increase was primarily attributable to the addition of approximately $14.2 million in expenses related to the operations of WestwoodOne and increases of $1.9 million in employee benefits across our broadcast platform, as well as $2.4 million of expenses related to the LMA in the Chicago market.




 
Breaking News
Pandora AMP Allows For "Large Scale" Artist Analytics
Spanish Broadcasting System Names Eric Garcia Radio Revenue Chief, GM, New York Market
The Conclave To Honor Ginny Morris With The Rockwell Award
In Brief - October 22, 2014
October 21, 2014
Report: Ron Fair Departs Virgin Records
Adobe, Nielsen To Create Comprehensive Measurement Platform For Digital Content
DMR/Interactive Names Doug Smith VP/Marketing Strategy
Triton Digital's August 2014 Ranker: Major News Events Show Impact On Top 20 Streaming Audio Markets
October 20, 2014
iHeartMedia San Francisco Names Mark Adams PD of KYLD & KIOI
Premiere Networks Promotes Claudine Cazian To VP/Programming & Branded Entertainment
Entercom Names Carlos Lamadrid VP/National Sales, Strategic Partnerships
Pandora Hires Steve Bené As General Counsel
In Brief - October 20, 2014
October 17, 2014
In Brief - October 17, 2014
The Week In Review: 10/13-10/17
October 16, 2014
Michael Jordan Named PD At WAMZ
Dan Chertoff Named VP, A&R, RCA Records
Greater Media Chairman, CEO Peter Smyth Named Among The 2014 Giants of Broadcasting
Joe Cuello Joins TuneCore As Chief Creative Officer
Clip Interactive Reports Milestones In Revenue, MAUs, Engagement For Radio Station Partners
iHeartMedia Wins Gold Award At Healthcare Marketing IMPACT Awards
In Brief - October 16, 2014
October 15, 2014
Gayle Troberman Named iHeartMedia EVP And Chief Marketing Officer
John Geary Appointed Market President For iHeartMedia Sacramento
Sun & Fun Media Partners With Premiere Networks For Ad Sales
Music News
Florida Georgia Line, Bob Seger Lead Sales Chart
Quick Hits: Taylor Swift, Foo Fighters, Gwen Stefani, Cold War Kids
Charli XCX, Haim and More Contribute to Hunger Games
Quick Hits: Meghan Trainor, Smashing Pumpkins, Milky Chance
U2 Sits Down For Intimate Radio Special
Quick Hits: Coldplay, Gwen Stefani, Foo Fighters, Dropkick Murphys, Madisen Ward and the Mama Bear
One Direction Reveal Four Tracklist
The Week In Review: 10/13-10/17
Quick Hits: Iggy Azalea, U2, Snoop Dogg / Pharrell, iHeartRadio Fiesta Latina
Pitbull Goes Global In November
Quick Hits: Sam Smith, MTV EMAs, Songwriters Hall of Fame, The Pixies, Fall Out Boy, Bonnaroo
Jason Aldean, Hozier Top Album Sales Chart
Quick Hits: Foo Fighters, Prince, Ariana Grande
Taylor Swift Taps Into the '80s For "Out Of The Woods"
Quick Hits: One Direction, Christina Aguilera / The Voice, Jack White, Kelly Clarkson, T.I., Wilco
FMQB NOW

Chris P, PD
KRQQ & KMIY/Tucson

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!