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SBS Q4 Net Revenues Decline 3%, Radio Down 2%
RADIO ONLINE | Wednesday, April 1, 2015 |
Spanish Broadcasting System reported fourth quarter consolidated net revenues fell 3% to $36.3 million as compared to $37.5 million in 2013. Net revenues for radio segment slipped 2% to $32.3 million from $32.9 million, mailnly due to decreases in national, local and barter sales. National sales also decreased throughout most of SBS' markets, with the exception of Miami. Operating income (OI) grew 15% to $10.8 million from $9.4 million.
"During the fourth quarter, we made continued progress in strengthening our content and executing our plan to strengthen our multi-media offerings," commented Chairman/CEO Raul Alarcon Jr. "Our AIRE Radio Networks platform continued to expand its reach, content offerings and advertising client base according to our roll-out strategy and we further strengthened our digital platform and capabilities."
He continued, "Our radio stations have also continued to deliver consistently strong ratings across the nation's largest Hispanic media markets. Going forward, we remain focused on expanding our audience shares and delivering compelling multi-platform advertising opportunities that connect brands with the rapidly growing Hispanic population."
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