“Continued softness in the radio advertising marketplace.”
That’s the word from broadcast biggie CBS, which said its radio revenues fell 5% last year. Lower political advertising also contributed.
Overall local broadcasting revenues at CBS, including TV and radio, were down for both Q4 and for 12 months. On the year, local broadcasting brought in $719 million compared with $785 million a year before. Within that, television revenue declined 11% compared to a 2014 that benefited from strong political spending associated with midterm elections.
At the company overall though, “We had a terrific fourth quarter, and CBS is now in position to build strong momentum throughout 2016,” said Leslie Moonves, now chairman, president and chief executive officer. The local broadcasting segment is only one of several at CBS; the largest is entertainment, and cable networks and publishing are also big pieces of the Big Eye.
Moonves said the Super Bowl and political spending this year will boost CBS to “a very good year for advertising.”
Full-year 2015 revenues at the company were $13.89 billion, up 1% from $13.81 billion in 2014. (Read its full financial announcement.)