Radio One reported net revenue of $109.1 million from all divisions in Q1, an increase of 3.1% over 2015. Revenue from the radio division decreased 0.5% for the quarter. CEO Alfred Liggins said his radio business is stabilizing thanks to David Kantor and his team who are doing a great job turning around that division.
Liggins said he’s excited about a Clinton/Trump presidential campaign despite the fact that Trump has offended everyone. He believes the African-American audience will be very pivotal in deciding the next President because African American’s are more likely to lean toward Trump than the last Republican nominee, Mitt Romney.
Radio growth came from Radio One’s Charlotte, Cleveland, and Washington D.C. markets, with Houston, Atlanta, Indianapolis, and Philadelphia experiencing the most significant declines. Liggins said Radio One’s markets have improved but it’s not dramatic. January was down 3.3% for Radio One while February was up 2.6%, and March was up 3%. National was stronger than local due to Radio One being short of salespeople, according to Liggins, who says his sales team will be back to a full team by the end of Q2. Local was down 4.7% and national was up 4.7%. Radio One took in $1.5 million in political advertising, up 45% over 2015.
Revenue from Reach Media increased $263,000 and Internet revenue was $5.4 million compared to $5.7 million in 2015, a decrease of 5.6% due to decreases in alliance revenues.
did it leave you with a warm feeling, or were you able to muster up a high five