Net revenues gained 14.1% to $28.1 million in Q2 for Barrington Broadcast Group. Broadcast cash flow jumped 39.6% to $10.8 million for the privately owned TV group, which has public bonds.
Looking at the details, gross revenues gained 13.6% to $32.7 million, with national up 16.7% to $7 million, local up 4.7% to $19 million and political gaining 1,000% to $1 million. Retransmission consent fees jumped 50.8% to $2.1 million and “other” revenues rose 14.6% to $3.6 million.
COO Chris Cornelius told analysts that 14 of the 21 major ad categories that the company tracks were up in Q2. Automotive gained 30%. Seven other categories were also up double digits and political by even more.
Although Barrington does not provide forward guidance, company officials did confirm that the core advertising growth seen in Q1 and Q2 has continued in Q3.