SBS Reports 71% Surge in Adjusted OIBDA for 2024
| RADIO ONLINE | Monday, May 19, 2025 | 10:34pm CT |
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 Spanish Broadcasting System (SBS) |
Spanish Broadcasting System (SBS) has announced strong financial results for the fourth quarter and full year ended December 31, 2024, highlighted by a 71% increase in Adjusted Operating Income Before Depreciation and Amortization (OIBDA), which reached $40.4 million compared to $23.7 million in 2023.
"By any and all accounts, 2024 was a watershed year for Spanish Broadcasting System," said SBS Chairman and CEO Raul Alarcon. "The Company moved quickly at the start of the year to restructure its executive ranks and focus on the strategic initiatives and operational procedures needed to restore Adjusted OIBDA growth, which has always been our number one priority."
For the full year 2024, net revenue rose slightly to $155.1 million, up from $154.6 million the year before. Operating expenses declined 10 percent to $105.8 million, contributing to a 31 percent increase in Station Operating Income, which totaled $49.3 million. Net income for the year reached $1.7 million, a significant improvement from a net loss of $40.7 million in 2023. According to the company, over $16.3 million in costs were cut without a decline in revenue or audience.
In the fourth quarter, SBS posted net revenue of $45.5 million, up 3 percent from the same period in 2023. Operating expenses fell 15 percent to $25.1 million, leading to a 62 percent rise in Adjusted OIBDA to $18.4 million. Net income for the quarter came in at $3.1 million, slightly ahead of the $3.0 million posted a year earlier.
SBS credited its strong results to strategic initiatives that included reinvesting in its live radio brands, launching new talent in key markets, and rolling out its DAVid initiative. DAVid is a real-time nationwide audiovisual redeployment of SBS radio content for streaming across the company's LaMusica mobile app and digital platforms including YouTube, connected TV, and social media. SBS also acquired KROI-FM in Houston, marking its entry into the third-largest U.S. Hispanic market. The station quickly reached first place among Latino competitors after bringing in popular morning host Raul Brindis.
The company also continued efforts to divest its MegaTV television and related real estate assets. A previously announced $64 million sale to Voz Media was terminated in 2023 after the buyer failed to close the transaction, but SBS later secured a settlement. Some of the assets remain classified as held for sale on the balance sheet, while others have been reclassified to continuing operations.
