Entravision Communications made up with a slight drop in audio revenue with massive digital gains. Fourth quarter net revenue rose 27% to $296 million, rocketed by digital and political. That growth mirrored the entire year at 26%, with an overall net revenue just shy of $1 billion.
The Latino Radio Network saw a 3% dip in Q4, with CFO/Interim CEO Chris Young saying advertising from, “National has gotten soft,” in the face of a potential recession, but, “Local remains resilient.”
Digital income represented 78% of Entravision’s revenue in 2022, especially in international markets. The company is pursuing more opportunities in gaming apps, social media, and streaming audio.
The fourth quarter saw a 37% dip in Free Cash Flow from $30.8 million during the same period in 2021 to $19.2 million.
Entravision’s future looks positive, based off of projected 21% digital revenue growth in Q1. The company is currently on a full-time search for a new CEO after the sudden passing of CEO Walter Ulloa on December 31.
