Home Login RADIO ONLINE RSS Facebook
Advertisement

SBS Reports Q1 Net Revenues Down 9% to $34.5 Million


Spanish Broadcasting System
Spanish Broadcasting System

Spanish Broadcasting System (SBS) reported first quarter net revenue from continuing operations fell 9% to $34.5 million from $38.03 million in 2022. Operating Expenses grew 5% to $27.73 million from $26.37 million. Station Operating Income (SOI) was down 42% to $6.8 million from $11.65 million. Adjusted OIBDA decreased 57% to $3.39 million from $7.84 million. The company posted a net loss or $2.59 million as compared to a net loss of $1.67 million in the year-ago period.

"Our first quarter results showed a continuation of the growth of our company's national, network and digital revenues as further confirmation of the strength and durability of our audio strategy, and the successful migration of our brand superiority to our various digital platforms," commented Chairman and CEO Raul Alarcon. "Our first quarter results were impacted by lower revenues due to the fewer number of live events that were produced in this quarter as compared to first quarter last year."

He added, "We continue to perform exceedingly well in terms of the ratings of our major market stations, as highlighted by the market-leading results of our start-up station in Orlando, as well as our strong showings in New York, Los Angeles, Miami, San Francisco and Puerto Rico."

In April, SBS and SBS Houston Licensing (collectively SBS SouthWest), entered into an asset purchase agreement to acquire KROI-FM in Houston for $7.5 million from Radio One.

Advertisement

Latest Radio Stories

Veteran Air Personality Maria Garcia Dies at Age 52
Maria Garcia
Maria Garcia
Veteran personality Maria Garcia, who had aired in Miami, New York and the Long Island area, died on Friday, July 12, at the age of 52. Garcia, a Miami native, began her career in her hometown, holding positions at WINZ-AM, WIOD-AM and WHQT-FM. In More

First Dallas Media Closes on KRMX-FM/Waco for $1.35M
KRMX-FM/Waco
KRMX-FM/Waco
First Dallas Media Inc. has closed on its previously annouinced purchase of 50kW Country KRMX-FM (92.9 Shooter FM) serving the Waco, TX market from M&M Broadcasters of Waco. The purchase price was $1.35 million. The buyer is headed by Ben More

2024 Rising Through Ranks Scholarship Recipients Announced
Radio Advertising Bureau
Radio Advertising Bureau
Scholarship recipients for this year's Rising Through the Ranks program presented by the RAB, BMI, Mentoring and Inspiring Women in Radio, Inc. and Xperi have been selected. As previously announced, this year's program will be hybrid, starting with More
Advertisement

''Sunday Night Slow Jams'' Celebrates 30 Years On-Air
Slow Jams
Slow Jams
Benztown's "Sunday Night Slow Jams" celebrates 30 big years on-air Wednesday. Creator, producer and host R Dub! first aired the show on July 17, 1994 -- when he was just 16 years old -- at a tiny AM station in the middle of the Tucson, AZ desert. More

B-Dub Radio Welcomes Five New Radio Affiliates
B-Dub
B-Dub
B-Dub Radio, through its syndication partner, Skyview Networks, has announced its recent growth across multiple new markets with the addition of five radio affiliates. Through the program's newly expanded network, host Bryan "B-Dub" Washington can More

Carter Media, High Aspirations Partner For Backpack Drive
3rd Annual Debbie Dee Backpack Drive
3rd Annual Debbie Dee Backpack Drive
Carter Media and High Aspirations are hosting the 3rd Annual Debbie Dee Backpack Drive on Friday, July 26 from 6am-6pm at High Aspirations in Kansas City. CM and HA will accept new backpacks to benefit High Aspirations and other local male mentoring More

Return to Menu

Advertisement

Subscribe to our Newsletter
Radio news and headlines delivered right to your e-mail box -- and it's free.

Advertisement

Advertisement