However, excluding political ad revenue, its TV core advertising revenue increased 9% to $22.8 million with gains in professional services, retail and automotive categories. Retrans revenue increased 4%.
QUARTERLY REPORT
Fisher Posts 4.6% Drop In 3Q TV Revenue
Fisher Communications Inc. today reported that revenue from its television segment revenue for the third quarter ended Sept. 30 were $30, 522, 000, a decrease of 4.6% from the $31,986,000 it reported in the third quarter of 2010. However, excluding political ad revenue, its TV core advertising revenue increased 9% to $22.8 million and net TV revenue increased 8% to $29.6 million (also excluding political).
Retransmission consent revenue increased 4% to $3.4 million.
Professional services advertising revenue increased 26%, retail increased 16% and automotive increased 3%.
TV cash flow decreased $802,000 to $6.8 million; TV cash flow margin was 22%, down from 24% in the same period last year.
Internet revenue grew 52% to $1.4 million. Internet revenue (including Internet convergence revenue, which is reported in TV core net advertising revenue) was 7% of TV net revenue.
Fisher President-CEO Colleen B. Brown commented: “Our solid third quarter performance demonstrates the continued strength of our market-leading broadcast properties and the growing popularity of our digital platform. Through the successful execution of our strategic plan, we have transformed Fisher into a leader in local media by improving audience and revenue share, embracing new ways to distribute our content, and leveraging our unique multiplatform approach. Our demonstrated ability to anticipate the changing nature of advertisers’ spending while developing innovative platforms and channels to meet their needs, positions us well to deliver long-term value to our communities and our shareholders.”
BRAND CONNECTIONS
Read the company’s report here.
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