The Spanish-language broadcaster says the boost to $34.3 million came from World Cup and political advertising and retrans revenue.
Entravision TV Revenue Increases 7% In 3Q
Entravision Communications Corp. today reported financial results for the quarter ended Sept. 30. Television net revenue increased 7% to $34.3 million from $32 million for the three-month period a year ago.
The increase was primarily attributable to retransmission consent revenue, advertising revenue from the World Cup and political advertising revenue.
For the company as a whole, net revenue increased to $53.3 million from $50.8 million for the three-month period ended Sept. 30, 2009. Operating expenses increased to $31.2 million from $30.6 million a year earlier. The increase was primarily attributable to an increase in national representation fees and other expenses associated with the increase in net revenue.
Commenting on the company’s earnings results, Walter F. Ulloa, chairman-CEO, said, “During the third quarter, we generated revenue growth primarily driven by retransmission consent revenue and World Cup and political advertising. Our audience shares remain strong in the nation’s most densely populated Hispanic markets, and we believe we are well positioned to benefit as the U.S. Hispanic market continues to expand and advertisers increasingly recognize the importance of reaching our audience.”