A bright spot for the company's overall results is its digital revenue, which was boosted by the 2Q acquisition of Headway, a provider of mobile, programmatic, data and performance digital marketing solutions primarily in the United States, Mexico and other markets in Latin America.
Entravision 2Q TV Revenue Slips 4%
On Wednesday, Entravision Communications Corp. reported that its television segment revenue for the three months ended June 30 fell 4% from $39.2 million in the same period a year earlier to $37.8 million.
Entravision has 54 primary television stations and is the largest affiliate group of both the Univision and UniMás television networks. Entravision also owns and operates 49 primarily Spanish-language radio stations, as well as the Entravision Audio Network and Entravision Solutions, a national spot and network sales and marketing organization representing Entravision’s owned and operated, as well as its affiliate partner, radio stations. Entravision’s Pulpo digital advertising unit is the No. 1-ranked online advertising platform in Hispanic reach according to comScore Media Metrix, and Entravision’s digital group also includes Headway, a leading provider of mobile, programmatic, data and performance digital marketing solutions primarily in the United States, Mexico and other markets in Latin America.
Digital segment revenue grew 157% from $6 million to $15.6 million and was primarily attributable to the acquisition of Headway during the second quarter of 2017, which did not contribute to net revenue in prior periods.
For the company as a whole, 2Q net revenue grew 9% to $70.5 million. Operating expenses grew 5% to $42 million.
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 digital media segment attributable to the acquisition of Headway. This growth in our digital media segment offset decreases in our radio segment and television segment, which were affected by the loss of political advertising revenue compared to 2016.
“We continued to build our digital footprint and, looking ahead, we remain well positioned to build on our success in further attracting Latino audiences, expanding our advertiser base and monetizing our reach to the benefit of our shareholders.”
Read the company’s report here.