Political Comps Dampen Decent Quarter For Cumulus

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Monday afternoon, Cumulus reported first quarter 2017 revenue of $264 million. In 2016, the company took in $268.5 million in the first quarter. That’s a decline of 1.7%. Political revenue in Q1 of 2016 was $2.9 million, compared to only $500,000 this year. Q2 is pacing flat in light of what the company calls a “very soft market.”

Revenue from Cumulus’ radio stations was $173.6 million, down from $176.4 a year earlier. Exclusing political, revenue at Cumulus’ radio stations would have been flat. At Westwood One, revenue was $89.9 million, down from $91.6 million.

CEO Mary Berner said this is now three quarters in a row of share gains at Cumulus’ radio stations. Cumulus lost $7.4 million in the quarter, compared to over $14 million a year earlier.

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