Political advertising and retransmission consent revenue are the main contributors to the boost to $33.8 million.
Entravision 4Q TV Revenue Grows 4%
Entravision Communications Corp. on Wednesday afternoon reported financial results for the three-month period ended Dec. 31, 2010. Net revenue from television was up 4%, to $33.8 million from $32.4 million in the year-ago quarter.
The company said the increase was primarily attributable to retransmission consent revenue and political advertising revenue.
For the company as a whole, net revenue increased to $50.6 million for the quarter, an increase of 5%.
Commenting on the company’s earnings results, Walter F. Ulloa, chairman-CEO, said: “During 2010, we saw growth in our revenues, which were positively affected by increased advertising primarily relating to the World Cup and political activity. In addition, we continue to achieve increased retransmission consent revenue. Our audience shares remain strong in the nation’s most densely populated Hispanic markets, and we believe we remain well positioned to benefit as the U.S. Hispanic market continues to expand and advertisers increasingly recognize the importance of reaching our target audience. We remain focused on improving our operating performance by capitalizing on the recovering advertising market, while continuing to carefully manage our costs.”
To read the company’s report, click here.