Spanish broadcasting specialist LBI Media, parent company of Liberman Broadcasting Inc., reported that Q3 revenues were up 11.6% to $30.7 million. The growth all came from the TV side, with radio off slightly.
“Our results this quarter represent the third consecutive quarter of year-over-year revenue growth, led primarily by the performance of our core television markets and the contribution of EstrellaTV. We are pleased that our investments in original programming are now starting to produce additional returns through the development of a Hispanic television network. Going forward, we will continue to invest in and strengthen our content through new and compelling programming, as well as continuing to improve our distribution platform, so that EstrellaTV could one day be enjoyed by all Hispanic viewers in the US,” said CEO Lenard Liberman.
TV revenues grew 29.6% to $14.3 million for the quarter. That reflected incremental revenue from the EstrellaTV network, launched just a year ago, along with revenue growth for the company’s California stations.
Net radio revenues were down 0.4% to $16.4 million.
For the entire company adjusted EBITDA was down 8.8% to $9.7 million. That was said by the company to be primarily the result of higher program and technical expenses, partially offset by the higher TV revenues.
