Gray Television’s 2Q Revenue Gains 1%

Gray Television Inc. today announced that it recorded a 1% increase in revenue, to $76.2 million in the three months ended June 30, up from $75.6 million in the same quarter a year earlier.

The company said the increase was due primarily to increased local and internet advertising and retransmission consent revenue, partially offset by decreased national and political advertising revenue.

Local and internet advertising revenue increased due to increased spending by advertisers in an improving economic environment while national advertising revenue suffered somewhat from decreased advertising spending by automotive and financial/insurance customers.

Political advertising revenue decreased due to decreased advertising from political candidates and special interest groups in the “off year” of the two-year election cycle.

Retransmission consent revenue increased due to an increase in the number of subscribers in the second quarter of 2011 compared to the second quarter of 2010.

In addition, Gray continued to earn base consulting revenue under its agreement with Young Broadcasting Inc.

Gray’s five largest local and national advertising categories on a combined basis by customer type for the second quarter of 2011, posted the following changes from the same quarter in 2010:

• Automotive decreased 1%
• Restaurant increased 7%
• Medical increased 16%
• Communications increased 10%
• Furniture and appliances increased 5%

Read the company’s report here.