Entravision’s 3Q TV Revenue Comes In Flat

Entravision Communications Corp. reported that its television segment revenue for the three months ended Sept. 30 was basically flat at $36,421,000; it was $36,361,000 in the same quarter a year earlier.

Revenue in the television segment remained constant with increases in revenue from spectrum usage rights and retransmission consent revenue, partially offset by a decrease in local advertising revenue, as a result in part of ratings declines and changing demographic preferences of audiences. Additionally, there is a trend for advertising to move increasingly from traditional media, such as television, to new media, such as digital media. The increases in revenue from spectrum usage rights and retransmission consent revenue were also partially offset by a decrease in political advertising revenue, which has not been material in 2019.

Digital segment revenue, however, dropped 21% — to $17.6 million from $22.4 million.

For the company as a whole (including its radio segment), 3Q net revenue was $68.8 million, an 8% decrease from the year-ago quarter’s $74.6 million.

Commenting on the company’s earnings results, Walter F. Ulloa, chairman-CEO, said:  “Our third quarter results were impacted by declines in our radio and digital segments compared to the prior year. However, our television segment did remain constant due to increases in revenue from spectrum usage rights and retransmission consent revenue.

“We continue to maintain a solid balance sheet and return capital to our shareholders through our share repurchase program and dividend. Looking ahead, we remain well positioned to build on our success in further attracting Latino and other audiences worldwide, as we execute our multiplatform strategy to the benefit of our shareholders.”

Read the company’s report here.