Radio One Radio Revenue Jumps 4.9%
Typically Radio One CEO Alfred Liggins hosts a lively, lengthy, and detailed monthly earnings conference call. Today that wasn't so. Despite a strong performance from the Radio One Radio division, only one analyst had a question for Liggins and the call was over in 17 minutes. Liggins is one of the few group heads that still takes live questions, as most others now only take questions by e-mail. Here's what he reported about Q1.
Radio One was up 4.9 percent over 2012 for the quarter with Houston, Atlanta, Baltimore, and Washington D.C. all strong-performing markets for the company. Detroit, Indy, Cleveland, Cincinnati, Richmond, and Raleigh did not perform as well. National revenue was up 13.5 percent and local was up 2.1 percent. Retail is the biggest category for Radio One making up 16 percent of overall revenue. Telecom is second at 14 percent.
Liggins also repeated what he's been saying for years, that radio is a a flat to slightly up business.
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