Not by much, but the RAB reports that revenues were up 1% for the quarter. The big gain came from digital, up 18%, which offset a 1% decline in traditional spot revenue.
The tally compiled by Miller, Kaplan, Arase & Co. is pretty much in line with Q2 reports from the public radio companies, which were pretty much flat – a few up a bit and a few others down a bit. A consistent theme, though, was that core business, excluding last year’s political windfall, was doing OK.
|
Revenue Comparisons – 2011 vs. 2010 (In Millions) |
||||
|
Revenue |
$Q2 ’11 |
% Chg |
$FH ’11 |
% Chg |
|
Spot |
3,722 |
-1% |
6,784 |
Flat |
|
Network |
282 |
3% |
542 |
2% |
|
Digital |
185 |
18% |
334 |
19% |
|
Off-Air |
392 |
5% |
704 |
7% |
|
Grand Total |
4,581 |
1% |
8,364 |
2% |
|
Source: Miller, Kaplan, Arase & Co.* |
||||
For the first half, Q1 results pushed the total to a 2% gain. But Q2 is a bigger quarter than Q1.
RBR-TVBR observation: Now the comps get tougher. Even so, what CEOs and CFOs have been saying in their Wall Street conference calls is that core business is on track. And there are expectations that auto will soon be back to normal as Japan recovers from its supply chain problems. Unless the economy really does head into a double-dip, Q3 and Q4 are likely to be decent and only look bad because of the political spending from last year.
