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
Entercom Communications Corp. Reports First Quarter Results
iHeartMedia Seattle Names Russell Robertson SVP/Sales
Tom Hoyt Appointed GM of Salem Media's Louisville Cluster
NAB Opens 2015 Marconi Radio Awards Nomination Window
May 1, 2015
Vevo Announces New CEO, Original Programming And Tentpole Events
Radio One, Inc. Reports First Quarter Results
Scott Lindy Joins Cumulus As PD Of WFMS/Indianapolis
Shazam, Google Provide Android Users With Hands-Free Music Discovery
In Brief - May 1, 2015
April 30, 2015
iHeartMedia, Inc. Reports Results for 2015 First Quarter
Republic Records Dominates Top 40 Scoring 6 Spots In Top 10
Chris Sargent Named PD At KJR-FM/Seattle
WBTP/Tampa Appoints Mychal Maguire PD
jācapps Named One Of "Michigan 50 Companies To Watch"
Jumptuit Launches Support For Xbox Music, Announces Support for Windows 10
In Brief - April 30, 2015
April 29, 2015
New Podcasts Join Play.it Network
TuneCore Artists Earn $36 Million - Strong Quarter Over Quarter Growth
Cox Media Group Miami Names New General Sales Managers
New Coalition Launches To Protect The Music Economy
In Brief - April 29, 2015
April 28, 2015
Cumulus Signs Lew Dickey To Multi-Year Contract Extension
SiriusXM Reports First Quarter 2015 Results
Rob Quinn Named VP/Market Manager For Cumulus Colorado Springs
Streaming Audio Up 41% In Webcast Metrics’ March 2015 Ranker
In Brief - April 28, 2015
Music News
Bono Still Recovering As U2 Prep For Tour
Quick Hits: Ben E. King, "Uptown Funk," Prince, Van Halen, Vance Joy, Enrique Iglesias
Meghan Trainor, J. Lo Join Jason Derulo LP
Quick Hits: U2, Diddy, Bumbershoot, Sonic Boom and X-Fest, Gregg Allman
Alabama Shakes Debut At #1 On Billboard 200
Quick Hits: Landmark Music Festival, Jay Z / Tidal, Paramore, Milky Chance / X Ambassadors, Eric Hutchinson, The Kingsmen
Ozzy: Black Sabbath Farewell Coming In 2016
Quick Hits: One Direction, Mumford & Sons, Sam Smith, Deftones, Gary Clark, Jr., Andrew W.K., Ben Lee
Jay Z: "Tidal Is Doing Just Fine"
Quick Hits: Radio Disney Music Awards, David Guetta, Amy Winehouse, D'Angelo, Billy Corgan
Black Keys' Dan Auerbach Announces New Solo Project
The Week In Review: 4/20-4/24
Quick Hits: Grateful Dead / John Mayer, Saturday Night Live, Frank Ocean, System Of A Down
Quick Hits: Lady Gaga, Estelle, MusiCares MAP Fund benefit concert, Hard Summer Festival, Faith No More, The Ting Tings
Teen Vine Star Shawn Mendes Tops Billboard 200
FMQB NOW

Rick Cummings
Emmis Pres.
of Programming

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!