Spanish Broadcasting System Sees Decrease In Q4 Revenues
April 1, 2015 at 3:50 AM (PT)
SPANISH BROADCASTING SYSTEM, INC. fourth-quarter 2015 consolidated net revenue fell 3% to $36.336 million, with radio off 2% to $32.328 million and television down 13% to $4.008 million.
Radio's fall was blamed on decreases in national, local and barter sales, partially offset by increases in network sales and special events; National sales decreases came in most of SBS' markets other than MIAMI, while local sales fell in PUERTO RICO, LOS ANGELES, and SAN FRANCISCO and barter fell in most markets. Network sales rose due to the launch of AIRE RADIO NETWORKS. Television's drop came due to decreases in paid programming, national spot sales, and barter sales.
Chairman/CEO RAUL ALARCÓN, JR. said, “During the fourth quarter, we made continued progress in strengthening our content and executing our plan to strengthen our multi-media offerings. Our AIRE RADIO NETWORKS platform continued to expand its reach, content offerings and advertising client base according to our roll-out strategy and we further strengthened our digital platform and capabilities. Our radio stations have also continued to deliver consistently strong ratings across the nation’s largest Hispanic media markets. Going forward, we remain focused on expanding our audience shares and delivering compelling multi-platform advertising opportunities that connect brands with the rapidly growing Hispanic population.”