Q1 revenues jumped at Debut Broadcasting, ballooning 41% to $451,345, although the company has really existed in its current form since May of last year. What’s important, says CEO Steven Ludwig, is that the growing public company reduced its loss quarter over quarter.
Nashville-based Debut, which owns small market stations and a radio syndication business, was formed in May 2007 with the reverse merger of two firms and the subsequent spin-off of Media Sentiment Inc. "Since MSI’s results are included in our results for the first two quarters of 2007 but not past mid-year, we think it’s instructive to compare results on a consecutive quarter-by-quarter basis as well," said Ludwig.
Compared to Q1 of 2007, Debut Broadcasting’s net operating loss increased to $260,796 from $109,480. But, compared to Q4 2007, the net operating loss decreased by more than 50% and the Q4 loss had decreased from Q3.
"Since we formed Debut Broadcasting last year, we have operated on the guiding principle that we could grow our business by aggregating a growing portfolio of undervalued and under-utilized media properties, create operating synergies by combining these properties under a unifying and directed operational approach, and drive costs down to generate profits on growing revenue. When we compare our last three quarters of activity, it shows that we are well on our way to accomplishing these objectives as we cut our expenses by more than half in the past six months,” Ludwig said.
"We continue to see gains in our revenue on a quarter-by-quarter basis, however our strongest quarters are yet to come, which is typical in the radio business. New initiatives in our radio syndication operation undertaken in the second half of last year are yielding revenue increases in the second quarter, a trend we believe will continue through the balance of this year," he added.
