Spanish Broadcasting System Revenues Fall In Second Quarter 2015
August 17, 2015 at 3:55 AM (PT)
SPANISH BROADCASTING SYSTEM overall second quarter 2015 revenues fell 7% to $38.1 million, with radio off 4% to $34.5 million, blamed in decreases in special event revenue in LOS ANGELES and MIAMI and decreasing local sales in PUERTO RICO, LOS ANGELES, and SAN FRANCISCO partially offset by an increase in network sales via AIRE RADIO NETWORK, and television down 26% to $3.6 million.
"During the second quarter, we continued to invest in the build-out of our AIRE RADIO NETWORK platform, which is gaining traction with listeners, advertisers and station partners," said Chairman/CEO RAÚL ALARCÓN, JR. "Our radio stations also continue to rank among the most successful platforms serving the Spanish-speaking population in the nation's largest Hispanic media markets. Looking ahead, we remain focused on strengthening our content offerings, expanding our digital footprint and leveraging our multi-media assets to further build our audience and connect advertisers with the rapidly expanding Latino population."