Radio Revs Up, TV Down
Although JOURNAL COMMUNICATIONS reported that Q3 revenue was down 4.4% to $87.8 million, core broadcast revenue -- excluding political and issue advertising revenue -- rose 2.2% Operating earnings fell to $8.1 million, down 26.9%
Radio revenue was the key to the broadcasting earnings positive results. Q3 revenue from radio stations increased 2.7% to $19.0 million. Radio political and issue advertising revenue was $0.4 million in each of 2011 and 2010. TV revenue, on the other hand, decreased 6.8% to $27.9 million. Excluding political and issue advertising revenue of $1.8 million in 2011 and $4.3 million in 2010, revenue from television stations increased 1.6%.
"JOURNAL COMMUNICATIONS remained focused on growing our local market revenue share in a soft economic environment in the third quarter," JOURNAL CEO/Chairman of the Board STEVEN SMITH said. "While total Broadcast revenue was down, core revenue, excluding political and issue advertising, was up. On the Publishing side, a challenging advertising revenue environment was offset by improved circulation revenue and a solid increase in commercial print and distribution revenue.
"We continue to position JOURNAL COMMUNICATIONS for growth in our markets by expanding our relevant local content, investing in interactive media and providing an enhanced value proposition for our advertising customers."
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