Spanish Broadcasting System’s (SBS) Q2 net revenue net revenue totaled $35.8 million compared to $37.1 million for the same prior year period, a decrease of $1.2 million or 3%. This decrease was attributable to their radio segment net revenue of decrease $1.4 million or 4% — blamed on a down quarter for national sales. “The decrease in national sales occurred in all of our markets, with the exception of our San Francisco and Puerto Rico,” said the company in its Q2 release.
SBS saw its Q1 radio revenue grow 12% to $27.08 million. Overall SBS revenue for Q1 reached $30.846 million, an 11% increase. So Q2 is a bit of a surprise, given how strong Q1 was for the company.
SBS’s television net revenue increased $0.2 million or 4%, primarily due to an increase in local spot sales and integrated sales, offset by a decrease in paid programming.
Raúl Alarcón, Jr., Chairman and CEO, commented, “During the second quarter, we continued to focus on aggressively managing our costs given the improving, but volatile advertising environment. The double digit increase in our operating cash flow reflects our ongoing efforts to drive further efficiencies across our operations, while continuing to prudently invest in our content and sales resources. Looking ahead, we remain focused on building our brands, increasing our audience reach across our radio, television and online properties and maximizing our share of advertising revenues in each of our markets.”
Operating income totaled $11.3 million compared to $9.4 million for the same prior year period, resulting in an increase of $1.9 million or 20%. The increase in operating income was mainly due to the decrease in station operating expenses.
For the six-months ended June 30, consolidated net revenue totaled $66.7 million compared to $64.8 million for the same prior year period, resulting in an increase of $1.8 million or 3%.