The increase to $36.7 million, is driven by an 8% gain in core revenue, and 89% rise in retrans and a 355% boost in political money.
Fisher Communications’ second quarter was highlighted by 19% growth in net television revenue to $36.7 million compared to the same period in 2011. Net television revenue, excluding political revenue, increased 17% for the same period.
Highlights of the company’s television results:
- Core TV revenue increased 8% to $25.9 million.
- Net TV revenue, excluding political revenue, increased 17% to $35.8 million.
- Retransmission consent revenue increased 89% to $6.3 million.
- Advertising increased in key categories, including automotive, professional services and retail, which grew 20%, 14%, and 10%, respectively.
- Political revenue (net) increased 255% to $943,000.
- TV cash flow increased 82%, or $5.7 million, to $12.6 million; TV cash flow margin was 34.1%, up from 22.3%.
- Internet revenue declined $74,000 to $1.3 million. Total Developing Media revenue, including multiplatform internet related revenue (which is reported in TV core advertising revenue) was 8% of TV core revenue for both the second quarter of 2012 and 2011.
- Developing Media page views were up 52% and unique visitors were up 81% in June 2012 compared to June 2011.
“Fisher’s solid performance is a result of playing to our strength,” said Colleen B. Brown, Fisher’s president-CEO. “The combination of leading broadcast stations and innovative digital solutions, leverages the strength of our local media assets. Through our multiplatform approach, Fisher is deepening its relationship with consumers and providing advertisers with advanced local multiplatform solutions to reach their customers — these are distinct advantages that benefit all of our stakeholders.”
The company’s consolidated revenue was $42.3 million, up 5% from the second quarter of 2011.
Read the company’s report here.