Both net revenue and OIBDA were up 6% during the second quarter for the radio side of Hispanic media specialist Spanish Broadcasting Company. Unfortunately, the television side of the business hit a speed bump, but overall numbers are good and YTD numbers are better.
Radio revenue was up 6% to $32.25M, and OIBDA was also up 6%, to $15.19M. YTD, the increases stand at 12% and 15% respectively.
Television suffered a 12% reversal during the quarter to $3.8M, but a Q2 2012 negative result in OIBDA left a comparable that was easily beaten – OIDBA of just $130K was enough to produce an 111% gain. Television numbers YTD are plus 15% and plus 98% respectively.
Overall, SBS net revenue is up 4% Q2 and 13% H1, while OIBDA is up 11% Q2 and 26% H1.
“We generated healthy gains in our operating profitability during the second quarter, leading to a 26 percent increase in our OIBDA for the first half of the year,” commented Raul Alarcón, Jr., Chairman and CEO. “We are encouraged with the overall advertising environment across our markets, and we are confident in our ability to continue to convert our audience shares into financial gains. We are benefiting from the strategic investments we have made in our content, distribution and sales resources. At the same time, we have maintained a disciplined approach to managing our expenses, as reflected in our improving profitability. As advertisers increasingly recognize Spanish-language media as a highly effective channel to promote their brands, we remain focused on leveraging our diversified media platform to garner a greater share of advertising budgets.”