It’s a story that’s unfolding at several publicly traded broadcast television companies, and the tale is one that will likely raise the ire of pro-MVPD advocacy groups including ACA Connects and the American Television Alliance (ATVA).
With year-over-year analyses marred by record 2022 political advertising and varying degrees of core advertising softness, “subscription” or “distribution” revenue is buffeting the bottom line for TEGNA, Gray Television and, now, The E.W. Scripps Co.
Second quarter revenue for Scripps slipped by 1%, even though core ad revenue dipped by 5.2%. One big reason: a 14% rise in dollars linked to retransmission consent fees.
