Spanish Broadcasting System Revenues Rise In Second Quarter
August 15, 2013 at 3:59 AM (PT)
SPANISH BROADCASTING SYSTEM second-quarter net revenue increased 4% to $36.067 million, with radio revenue up 6% year-to-year to $32.247 million and television off 12% to $3.82 million.
Radio's rise was primarily attributed to national, barter, and interactive sales plus special events revenue. NEW YORK, LOS ANGELES and SAN FRANCISCO led the national sales increase, with special events revenue boosted by SAN FRANCISCO, MIAMI and LOS ANGELES.
"We generated healthy gains in our operating profitability during the second quarter, leading to a 26% increase in our OIBDA for the first half of the year," said Chairman/CEO RAUL ALARCÓN, JR.. "We are encouraged with the overall advertising environment across our markets, and we are confident in our ability to continue to convert our audience shares into financial gains. We are benefiting from the strategic investments we have made in our content, distribution and sales resources. At the same time, we have maintained a disciplined approach to managing our expenses, as reflected in our improving profitability. As advertisers increasingly recognize Spanish-language media as a highly effective channel to promote their brands, we remain focused on leveraging our diversified media platform to garner a greater share of advertising budgets."