Spanish Broadcasting System Sees Revenue Drop In Third Quarter

Q3

SPANISH BROADCASTING SYSTEM third quarter 2017 overall net revenue fell 8% year-to-year to $32.8 million, and radio didn't help matters, with radio revenue down 9% to $29.3 million.  The television division also dropped but not as much, off 3% to $3.5 million.  Local radio sales were off in LOS ANGELES, CHICAGO, NEW YORK, and SAN FRANCISCO; national sales fell in LOS ANGELES, NEW YORK, MIAMI, PUERTO RICO, and SAN FRANCISCO, while special events dollars were down in SAN FRANCISCO and LOS ANGELES.  Operating income fell 42% to $5.8 million.

"During the third quarter, we generated solid increases in our digital advertising sales which were offset by lower political revenues as well as a challenging overall environment for the radio industry," said Chairman/CEO RAÚL ALARCÓN.  "Our footprint remains highly attractive with leading stations positioned across key Latino markets nationwide and we are taking steps to drive improved performance. At the same time, our strategic emphasis on delivering unique, multi-platform experiential offerings is expanding our aggregate audience share. Our LA MUSICA digital entertainment platform and strengthened online presence continues to resonate with users across key demographics including Hispanic millennials. Looking ahead, we remain focused on continuing to grow our audience shares and delivering highly engaged and attractive audiences to our advertising partners across all major platforms."

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