Looking deeper into the numbers from the Emmis quarter, CFO Ryan Hornady said digital revenue at Emmis was up 24%. That big gain still didn’t prevent the company from pulling in less revenue than a year ago due to national and local revenue being down single digits. What were the strongest and weakest categories for the company?
As the largest ad category for Emmis, automotive made up 11% of the revenue in the quarter. Unfortunately that category was down 7%. The financial and medical categories were also weak. The strongest ad categories for Emmis in the quarter were restaurants, cellular, and beverage. Emmis is pacing flat to down single-digits for December, January, and February. December is on the books as down 9%.
On another note, CEO Jeff Smulyan said he’s still in talks with several companies about selling WLIB in New York.