The nation’s premier broadcasting company serving African American consumers lowered its net loss in the first three months of 2017.
But, net revenue decreased 7.1% in Q1 for Radio One, to $101.3 million, as its consolidated net loss lowered to $2.3 million (5 cents per diluted share), from $3.9 million (8 cents). Consolidated operating income was down to $16.5 million, from $18.8 million, while Broadcast and Digital operating income fell to $34.9 million, from $39.6 million.
And, in its core radio division, net income slowed to $7.5 million, from $12.1 million in Q1 2016.
There are two big reasons why the company suffered to start the new year.