Radio and television revenues for July 2008 were both off about 3% compared to the same month in 2007 – the percentages for the two sectors were within a tenth of a percent of one another. However, these results were glowing when compared to the company’s performance on the publishing side. Revenue for the month for television was down 3% to $8.47M despite picking up over half a million dollars in political revenue.
At the company’s radio stations, business was down 3.1% to $6.09M, and in that case, political/issue advertising was down $37K from results the prior off-election year. Total revenue at Journal’s publishing operations was down 9.5% to $17.21M, including a 13.8% drop in advertising revenue.
Circulation income was down, but less than a percent, and results were aided by a 13.4% increase in other revenue sources. Add it all together, print and broadcasting combined, and you have a 6.7% decrease to $31.77M for the month.
RBR/TVBR observation: We have no desire to see unabated suffering on the newspaper side. Many broadcasters are also active in the publishing field, and a truly healthy media environment would nurture broadcasting, publishing and other forms. At some point, economic conditions are going to support a return to prosperity for those who survive this prolonged drought. But mark our words: those who DO survive will be making a significant percentage of their money online.