The Spanish-language station owner says the increase to $39.2 million is primarily due to increases in national and political advertising plus higher retransmission consent fees.
Entravision 2Q TV Revenue Climbs 8%
On Wednesday, Entravision Communications Corp. reported second quarter television segment revenue of $39.2 million, up 8% from $36.4 million in the same quarter a year ago.
The company said the television segment revenue was primarily attributable to an increase in national advertising revenue, an increase in political advertising revenue, which was not material in 2015, and an increase in retransmission consent revenue.
Digital segment revenue grew 55% from $3.9 million to $6 million, primarily attributable to increases in national and local advertising revenue..
Commenting on the company’s earnings results, Walter F. Ulloa, chairman-CEO, said: “During the second quarter, we achieved revenue growth driven by increases in our television and digital media segments. We also improved our free cash flow and net income over the second quarter of 2015. We continued to build our digital footprint through Pulpo Media, which provides us with an integrated platform to allow advertisers and marketers to connect with Latino audiences. Looking ahead, we remain well positioned to build on our success in attracting Latino audiences, expanding our advertiser base and monetizing our reach to the benefit of our shareholders.”
The company also announced today that its board of directors has approved a quarterly cash dividend to shareholders of $0.03125 per share of the Company’s Class A, Class B and Class U common stock, in an aggregate amount of approximately $2.8 million.
Read the company’s report here.