Political drives a 22% boost in total spot revenue, with local up 1.2% and national up 7.1%. Internet, retrans and other revenue was up 13%
Belo 4Q Revenue Rises By 20%
Belo Corp. today released fourth quarter 2010 financial figures that included a 20% increase in total revenue versus the fourth quarter of 2009 for the pure-play TV group.
Total spot revenue was up 22% percent due primarily to a $26.9 million increase in political revenue. Local spot revenue increased 1.2% and national spot revenue grew 7.1% versus the year-ago quarter as crowd-out from political revenue affected core spot revenue growth.
Other revenue, which includes barter and trade advertising, network compensation, Internet advertising revenue and retransmission revenue, was up 13% due to increases in the company’s retransmission revenue and Internet advertising revenue.
Station salaries, wages and employee benefits increased $7.7 million during the fourth quarter of 2010 versus the fourth quarter of 2009.
Dunia A. Shive, Belo Corp.’s president-CEO, said: “Fourth quarter’s near record political revenue of $35.7 million led the company to a 22% increase in spot revenue and a 20% increase in total revenue for the fourth quarter, providing a strong finish to an outstanding year of revenue growth. Belo’s total revenue for full year 2010 grew 16.5% compared to 2009, driven by an 18% increase in spot revenue related to the continued local and national spot advertising recovery and almost $56 million in 2010 political revenue.
Looking to 2011, Shive said: “We currently expect to see continued recovery in advertising as long as the economy does not experience an unanticipated setback. We expect spot revenue excluding political to grow in 2011, but at a more moderate rate than in 2010.
“We expect reported combined station and corporate operating costs to grow at a low-to-mid single digit rate in 2011.”
Read the company’s report here.