Radio One Reports Fourth Quarter Results
March 7, 2017

Radio One today reported its results for the quarter ended December 31, 2016. Net revenue was approximately $113.6 million, an increase of 3.8% from the same period in 2015. Broadcast and internet operating income was approximately $43.1 million, an increase of 5.9% from the same period in 2015. The Company reported operating income of approximately $17.1 million for the three months ended December 31, 2016, compared to an operating loss of $11.3 million for the same period in 2015. Net loss was approximately $3.4 million or $0.07 per share (basic) compared to approximately $24.3 million or $0.50 per share (basic) for the same period in 2015.

Alfred C. Liggins, III, Radio One's CEO and President stated, "Political advertising helped our radio broadcasting segment achieve both revenue and Adjusted EBITDA growth compared to the fourth quarter of 2015. Together with a nice rebound in TV advertising revenue, which was up 18%, this helped drive our 6% growth in consolidated Adjusted EBITDA. During the fourth quarter we booked our first income from MGM National Harbor, which had a strong opening in December. Overall I was pleased with our performance for the year, which was towards the upper end of EBITDA guidance. First quarter radio revenues have been understandably soft, given the political comps from 2016, and we are currently pacing down approximately 5%. While we expect both Radio and Reach Media to struggle against tough comps in the first quarter, our TV business and MGM investment should offset these declines, and we will be able to grow our Adjusted EBITDA again in 2017. TV One's ratings are rebounding from last year's loss of Martin, and for fourth quarter total day households were up 2% and Persons 25-54 were up 3% compared to Q4 2015. The positive ratings momentum is continuing into the first quarter of 2017, where we are up 7% and 5% in total day households and Persons 25-54, respectively."




 
Breaking News
Coran Capshaw To Be Honored With City of Hope's 2017 Spirit of Life Award
Cumulus Appoints Nic Merenda VP/Market Manager For Topeka, KS
Alpha Media Brings Throwbacks To San Antonio
iHeartMedia St. Louis Names Jules Riley PD For 93.7 The Bull
J. Anthony Brown Joins The Steve Harvey Morning Show
April 21, 2017
eQB NOW
Cumulus Promotes Heather Gersten To APD At WWLI/Providence, RI
April 20, 2017
iHeartMedia Washington, D.C. Names Tommy Chuck PD For WASH-FM
iHeartMedia Names Jeff Wyatt SVP/Programming For Baltimore, MD
Radio One DC Expands WMMJ-FM Listenership
April 19, 2017
CBS Radio's 'SPF" In Las Vegas Expands To Two Nights With Linkin Park
Magic 92.5/San Diego To Change Format To All Prince "Purple 92.5"
Clip Interactive Partners with Radio One & Reach Media
April 18, 2017
iHeartMedia San Antonio Names Russell Rush Program Director For KXXM
iHeartMedia San Francisco Names Matty Staudt Digital PD
WHLZ Turns On The Hot AC In Florence, SC
iHeartMedia Baton Rouge Names Brittany Tully PD For WYNK-FM
John Butler Joins Spotify
April 17, 2017
KUDL/Sacramento Rolls Outs EndFest 2017
United Stations Adds Danny Ocean As Affiliate Relations Representative
Amplifi Media & jācapps Team Up To Form SonicAi
April 13, 2017
Cumulus Media Promotes Three Senior Executives
jacapps and Ford Bring the Connected Car to the 2017 NAB Show
April 12, 2017
Music News
Kendrick Lamar Earns Biggest Chart Debut of 2017, Announces Tour
Quick Hits: Tori Amos, Kings Of Leon
Quick Hits: Beyonce, Rise Against
Prince EP Release Blocked By Lawsuit
Paramore Announce New Album After Laughter
Controversy Over New Prince EP
Quick Hits: NIN, QOTSA, Coldplay, Big Boi
FMQB Retro-Active: A Look Back at ELP
The Chainsmokers Debut Atop Billboard 200
Quick Hits: Lady Gaga, Gotillaz, Bourbon & Beyond
Harry Styles to Release Solo Debut on May 12
Quick Hits: J. Geils, Gorillaz, Tool
The Chainsmokers & Drake Lead 2017 Billboard Music Award Nominees
Quick Hits: Kendrick Lamar, Prince's Estate, Lindsey Buckingham, Christine McVie
Rock Hall of Fame Adds Pearl Jam, ELO, Journey & More
FMQB NOW

Nikki Nite,
VP of Prog. & Ops,
Entercom/Austin

Advertisement:
Search FMQB.com
Advertisements:
FMQB Member Login
Email:
Pass:

Save
Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!