How about a little good news for the radio industry? Excluding political revenue, Spanish Broadcasting System reported net revenue growth of 24% for the 4th quarter of 2019.
In Q4 consolidated net revenue totaled $46.1 million for SBS, compared to $39.6 million in Q4 of 2018, an increase of 16%. SBS’s radio net revenue increased 15% due to increases in local, special events, network, and digital which were partially offset by a decrease in national sales.
CEO Raul Alarcon said, “SBS delivered outstanding Q4 results which, in turn, contributed to our best annual financial showing in over 15 years. All business units including radio, television, experiential and interactive exhibited sustained increases with our core radio operation ranked among the leaders in the industry in ratings, revenue, SOI and margin growth.”
Alarcon also stated that 2020 started off strong. “In addition, fiscal 2020 started off exceptionally well and, as a result, we’re confident of a strong rebound later in the year as our industry, our nation and the world eventually recover from the effects of the COVID-19 pandemic. For now, we are adapting operationally, financially and strategically at all levels and in all markets during this interim period so as to protect our personnel while continuing to inform, entertain and serve audiences and advertisers in anticipation of a surging demand for ad inventory and rescheduled live events as the year progresses.”