Big Day in Radio Earnings


Dollar SignThursday, July 30, 2015 is upon us, and that means the two largest radio groups are set to announce their second quarter revenue results. We of course refer to iHeartMedia and Cumulus.

iHeartMedia will lead off, hitting the teleconference wires at 8:30 AM eastern.

Cumulus will be much later in the day, meeting with shareholders and analysts at 4:30.

The two companies went in opposite directions during the first quarter.

Cumulus, like most radio companies, had a difficult time. Revenues were off 7.2% and EBITDA fell 24%.

iHeartMedia was one of the few winners, posting a gain of 4.1% in revenue and increasing OIBDAN by 8.6%.

So far the only radio company to report earnings has been Emmis, which is facing its own unique challenges. It lost revenue but picked up on the net income line. Emmis did say it saw business begin to pick up in June.

We should know a lot more about how radio is doing by the end of the day