The Spanish-language media company says the increase is due to higher core advertising and retrans consent money.
Entravision TV Revenue Up 8% In 1Q
Entravision Communications Corp. on Tuesday reported net revenue from its television operations rose to $33.2 million in the three-month period ended March 31, an 8% increase from the same period a year earlier.
Commenting on the company’s earnings results, Walter F. Ulloa, chairman-CEO, said: “During the first quarter, we achieved revenue growth primarily driven by an increase in core television advertising and an increase in retransmission consent revenue, despite continuing challenges in the advertising environment, as our advertising customers continue to make difficult choices in the current uncertain economic environment.
“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 target audience.”
The company saw net revenue increase to $46.5 million from $44 million for the three-month period ended March 31, 2011, an increase of $2.5 million. The increase came from its television segment and was primarily attributable to an increase in local advertising and an increase in retransmission consent revenue.
Operating expenses increased to $31 million from $30.1 million and the company said it was primarily attributable to an increase in expenses associated with the increase in net revenue and an increase in salary expense.
Corporate expenses increased to $3.9 million from $3.7 million. The increase was primarily attributable to the increase in interactive media-related expenses and salary expense.
Read the company’s report here.