Spanish Broadcasting System, commonly known as SBS, saw gains at its Mega TV operation in Q2 2016. But, its much-bigger radio operation saw a dip, resulting in a 7.5% dip in consolidated net revenue.
For the three months ended June 30, SBS’s consolidated net revenue declined from $38.1 million to $35.3 million.
Radio OIBDA during Q2 increased from $12.8 million to $14 million—a 9% rise. But TV OIBDA dipped 28%, from $975,000 to $706,000. SBS’s corporate OIBDA saw a wider loss, growing from $2.4 million to $2.6 million.
Radio segment net revenue fell due to decreases in special events, network and national revenue. This was partially offset by an increase in local sales.
In prepared comments, SBS Chairman/CEO Raúl Alarcón Jr. put the focus on his radio station’s Nielsen Audio ratings, noting that Q2 saw increased total audience share for the properties.
“Our digital and mobile offerings continue to expand their user base while our radio stations remain well positioned across the nation’s top markets,” he said. “Moving forward, our focus remains centered on leveraging our industry leading content and continuing to connect advertisers with highly engaged Latino audiences on air, online, and via mobile.”
Shares in SBS rose 21 cents, to $3.75, in yesterday’s trading.