Spanish Broadcasting System Third-Quarter Revenues Fall

Q3

SPANISH BROADCASTING SYSTEM  third-quarter 2016 consolidated revenues fell 2% to $35,635,000, with radio off 4% to $32,055,000, blamed on decreases in national, network, barter and internet revenue partially offset by increases in local sales and special events, and television up 23% to $3,580,000. 

For radio, local sales increased in SAN FRANCISCO, MIAMI, LOS ANGELES, and PUERTO RICO; national sales decreased in NEW YORK, CHICAGO, SAN FRANCISCO, and LOS ANGELES. OIBDA rose 4% to $11,083,000, despite a 6% drop on the radio side. Operating income was up 13% to $9.9 million.

“During the third quarter, we continued to execute our multi-platform strategy aimed at growing our total audience share,” said Chairman/CEO RAÚL ALARCÓN. “We further expanded our digital platform, particularly in mobile where we recently added a full video channel lineup to our LAMUSICA app. Today LAMUSICA is a robust video and audio platform that delivers a unique entertainment experience to users while offering advertisers opportunities to reach a highly engaged Hispanic millennial audience. The continued strengthening of our digital capabilities builds upon our leading station brands in the largest Hispanic media markets and strengthens our ability to deliver targeted multi-platform audiences to our advertising partners."

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