June was a horrible month for Emmis, down 16%, which was just too much to overcome, even with July and August both up 2%. The awful June was blamed on poor ticket sales for Summer Jam in New York City, a signature company event hosted by Hot 97. On the bright side, Q3 looks strong for Emmis.
The predicted upswing is most likely fueled by political, with October pacing up double digits. August finished up 2%. Automotive, Emmis largest category, made up 12% of company revenue in Q2 and was up 15% in the quarter. Healthcare and cellular were also strong. Restaurants, beverages, entertainment, and media were weak.