Retransmission consent payments are a major new revenue source for television groups – and that means that it is important to stay on top of that important revenue stream. Just announced is that Raycom Media has selected Cable Audit Associates (CAA) to provide financial management outsourcing services in support of Raycom’s retrans agreements with cable, telco and satellite TV operators.
CAA said it will provide a suite of accounting and administrative services to Raycom which will include contract management, subscriber database setup and maintenance, remittance processing, revenue reconciliation, accounts receivables management and collections.
“The purpose of this Financial Services Agreement is to further improve upon our operational efficiencies related to the management of the retransmission revenue stream and to further enhance our strategic capabilities with regards to developing a greater knowledge base of the cable and satellite industries. We believe in the importance of partnering with a company such as CAA where we immediately benefit from their many years of experience in these industries,” said a statement from Raycom CEO Paul McTear.
“Since its inception, Raycom Media has shown great determination in developing and investing in its valuable community-based television assets. CAA is proud to associate itself with Raycom Media,” said CAA CEO Bruce Lazarus.