Net revenues for multimedia Hispanic specialist Entravision were up dramatically and operating income more than double over the previous year, due in large part to heavy demand by politicians to reach the Hispanic community.
Net revenue soared 28% to $63.8M, and operating revenue was up an exhilarating 125% to $20.6M.
The company’s television stations brought in $11.2M of the growth dollars, and radio contributed another $2.6M. In both cases, Entravision credited a strong election season for the surge in income.
Walter F. Ulloa, Chairman and Chief Executive Officer, commented, “During 2012, we achieved double-digit revenue growth primarily driven by increases in political advertising, core advertising, and retransmission consent revenue. Core revenue (excluding retransmission consent revenue and political advertising revenue) from our television and radio segments outperformed their respective industry averages, and we significantly improved our free cash flow over 2011. Our television and radio platforms have become an increasingly important channel for reaching Hispanic voters, resulting in significant increases in political advertising revenue. 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.”
For the full year, net revenue increased 15% to $223.3M, and operating income was up 68% to $58.8M.
For the quarter, television increased net revenue 33% to $45.4M; radio increased 16% to $18.4M.