Are politicians aware that there are Latin Americans who intend to vote this year? According to the results posted by Hispanic television and radio operator Entravision, the answer is a resounding yes, leading to big gains for the broadcast company.
The company’s net revenue total mushroomed from $50.1M to $58.5M, a solid 17% gain, and operating income exploded from $10.0M to $17.1M, a 71% gain.
Entravision said $7.3M of the $8.4M increase in revenue came from the television side, driven by political, core advertisers and higher retransmission consent fees. It grew 22% from $33.6M to $40.9M.
Radio accounted for the remaining $1.1M in increased revenue, riding improved sales in both the core and political advertiser categories. It was based on peer-beating results, featuring a 6% gain from $16.55M to $17.58M.
Chairman/CEO Walter F. Ulloa said, “During the third quarter, we achieved revenue growth primarily driven by increases in political advertising, core advertising and retransmission consent revenue. The increase in our political advertising revenue reflects the importance of our media platforms in reaching Latino voters. In addition, our television segment benefited from revenue growth generated from a more diversified base of advertising categories. Our audience shares remain strong in the nation’s most densely populated Hispanic markets, and we believe we are well positioned to benefit as the U.S. Hispanic market continues to expand and advertisers increasingly recognize the importance of reaching our target audience.”
YTD, Entravision’s revenue is up 10% to $159.5M, and operating income is up 48% to $38.1M.
RBR-TVBR observation: We are glad to get proof that niche broadcasters are not being passed over when it comes to the political category. We still hear the issue of NUDs and NHDs being kicked around in Washington, but clearly politicians are more interested in the fact that a vote is a vote, regardless of who casts it.