Entercom Communications reported that Q1 revenues rose 2% to $82.5 million. However, excluding political and having a hometown team for one cluster in the Super Bowl last year, it was an even better quarter.
“Same-station revenue growth, excluding political and the impact of last year’s New Orleans Saints Super Bowl run, increased 4% in the first quarter. In addition, we gained significant revenue share during the quarter, outpacing our peers in 16 of our 22 reporting markets. We bolstered our competitive position by reformatting five of our stations in San Francisco, Kansas City and Buffalo and continued to enhance our digital capabilities, driving strong growth in our key digital metrics. Finally, we are pleased to note that radio listening trends remain outstanding as the total number of local radio listeners continues to grow and is now at an all-time record level. In addition, local radio holds well over a 90% share of total radio listening vs. satellite and internet,” said CEO David Field, pictured.
Net revenues in Q1 were up 2% to $82.5 million. Station operating income was down 4% to $20.7 million.