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Q2 Radio Revenue Down at CBS - Radio World

Q2 Radio Revenue Down at CBS

Division performance is a drag on its local broadcast totals in the most recent quarter
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Radio revenue fell 5% at industry biggie CBS in the second quarter, while revenue from its television stations was up 1%.

The company’s overall local broadcasting revenues — including both TV and radio stations — were $654 million, down 2% from the period a year earlier. “The decline was the result of lower advertising revenues, including political spending from last year’s midterm elections,” it stated. “Growth in affiliate and subscription fees partially offset the decline.” Local broadcasting operating income for the three-month period fell 8% to $198 million, “primarily reflecting the revenue decline.”

For CBS Corp. as a whole, including its TV network, cable, publishing, film and other media channels — Q2 revenues were $3.22 billion, up 1% from a year earlier. President/CEO Les Moonves cited “progress we’re seeing with our fast-growing, nonadvertising revenue sources,” and expects benefits from the company’s “investment in global content and new distribution pathways.”

The CBS Radio division owns 117 stations in 26 markets, plus various digital assets.

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CBS Radio Revenue Falls

In the company’s fourth quarter, “same station” revenue fell 7%, and overall radio revenue decreased 10%, reflecting weakness in ad sales as well as the impact of radio divestitures in 10 markets.