The publicly traded company led on a day-to-day basis by Albert Rodriguez that is the parent of WBLS and WQHT “HOT 97” in New York and the Estrella Media Hispanic market-focused radio and TV station licensee enjoyed a roughly $5 million year-over-year revenue gain in the second quarter.
Net revenue in Q2 improved to $31.25 million, from $26.2 million, as the net loss attributable to common shareholders shrank to $9.08 million (-$0.11 per share), from $49.26 million (-$0.75).
Breaking down the numbers, Spot Radio & TV Advertising increased to $19.08 million from $17.71 million in Q2, with Audio jumping to $12.73 million from $11.91 million and Video moving to $6.35 million, from $5.8 million.
What is particularly intriguing is the rapid growth of Digital for the Video segment of Mediaco … and the dip of Digital dollars for Audio. For Video, dollars surged to $9.32 million from $2.5 million; for Audio dollars shrank to $130,000 from $913,000.
Syndication dollars were relatively flat, at $661,000.
Signing off on the quarterly earnings filing with the SEC for Mediaco is CFO/Treasurer Debra DeFelice.
