Gains in political, core and retransmission consent boost numbers for the Hispanic broadcaster.
On Thursday, Entravision Communications Corp. reported third quarter television segment revenue of $40.9 million, an increase of 22% from $33.6 million in the same period in 2011.
The company said the increase was primarily attributable to increases in political advertising revenue, which was not material in 2011, core advertising revenue and retransmission consent revenue.
TV operating expenses increased to $19.6 million for period ended from $18.2 million a year ago.
Corporate expenses increased to $4.5 million for the quarter, from $3.9 million in the 2011 third quarter, an increase of $600,000. The increase was primarily attributable to the increase in bonuses, non-cash stock-based compensation, salary expense and interactive media-related expenses.
Commenting on the company’s earnings results, Walter F. Ulloa, chairman-CEO, said: “During the third quarter, we achieved revenue growth primarily driven by increases in political advertising, core advertising and retransmission consent revenue. The increase in our political advertising revenue reflects the importance of our media platforms in reaching Latino voters.
“In addition, our television segment benefited from revenue growth generated from a more diversified base of advertising categories. Our audience shares remain strong in the nation’s most densely populated Hispanic markets, and we believe we are well positioned to benefit as the U.S. Hispanic market continues to expand and advertisers increasingly recognize the importance of reaching our target audience.”
Read the company’s report here.