The total of $34 million was the result of higher local and national ad revenue.
QUARTERLY REPORT
Entravision’s 2Q TV Revenue Up 26%
Entravision Communications Corp. reported Thursday that its television segment revenue for the three months ended June 30 increased 26% to $34 million; it was $26.9 million in the same quarter a year earlier.
That television revenue was powered by increases in local and national advertising revenue, partially offset by decreases in political revenue and revenue from spectrum usage rights.
Digital segment revenue rose by 1,045% — to $130 million from $11 million and was primarily due to the acquisition of a majority interest in Cisneros Interactive during the fourth quarter of 2020.
For the company as a whole (including its radio segment), 4Q net revenue was $178.4 million, a 295% increase from the year-ago quarter’s $45.1 million.
Commenting on the company’s earnings results, Walter F. Ulloa, chairman-CEO, said: “Entravision had a strong second quarter of 2021 and an even stronger first half of the year. Net revenues for the second quarter improved 295% as compared to the prior-year period, while Adjusted EBITDA increased 932% year-over-year. Growth in the quarter was largely driven by our digital business, which is now our largest segment, currently at 73% of consolidated revenues. Our core television and audio businesses also saw sequential and year-over-year revenue improvements, bolstering our overall performance.
“Our digital segment continues to represent a significant part of the growth of our business. Right after the end of the second quarter we acquired MediaDonuts, a company engaged in the sale and marketing of digital advertising in Southeast Asia. Through the acquisition of MediaDonuts, along with our acquisition of a majority interest in Cisneros Interactive during the fourth quarter of 2020, we have now added two digital powerhouses to our platform whose combined leadership, sales, operations and geographic reach further propel our core digital offerings and position us to partner with the world’s leading technology and social platforms.”
BRAND CONNECTIONS
Read the company’s report here.
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