It wasn’t much, .03%, but it was enough of an increase for iHeartMedia executives to say they kept their topline streak alive and are outperforming the radio industry in markets they operate, according to Miller Kaplan. The increase was $2.4 million in Q3 thanks to higher national and digital revenue, and of course, trade and barter, which seems to be included in the positive results every quarter these days.
Local and political revenue were down. CFO Richard Bressler says the company expected a more robust advertising market but it remains challenging.
iHeartMedia took in $5.3 million in political advertising in Q3, compared to $10.8 million in Q3 of 2016. Excluding political, iHeartMedia revenue increased .9% or $8 million.
When you add in the outdoor divisions of the company, there was a 1.9% decline in revenue for the company, that’s $29.2 million. America’s outdoor revenues decreased $6.4 million, or 2.0%.
International outdoor revenues decreased $17.7 million, or 5.1%. Operating income was off by 23.7% or $71 million.