Entravision Communications Corporation reported mixed financial results for the fourth quarter and full 2024 fiscal year with strong revenue growth overshadowed by deepening net losses for the Hispanic-focused broadcaster as it pivots from its old digital strategy.
The company reported a 37% jump in consolidated net revenue for the fourth quarter, along with a 23% increase for the full year compared to 2023. This performance was fueled by record political advertising revenue within the Media segment and solid gains in the Advertising Technology & Services division.
During the fourth quarter, Entravision’s net revenue climbed to $106.96 million, up from $78.26 million in the same period the previous year. Full-year net revenue reached $364.95 million, a substantial increase from $297.04 million in 2023. What radio’s contribution to that total was not disclosed. The broadcaster operates 46 Spanish-language radio stations and the Latino Radio Network.
Despite these gains, the company posted a net loss of $56.36 million in Q4, a sharp increase from the $18.21 million loss in the same period of 2023. The full-year results show a net loss of $148.91 million, substantially widening from a net loss of $15.44 million in 2023.
Much of this can be attributed to an operating loss of $48.57 million in the fourth quarter, a deeper loss than the $15.18 million reported in Q4 2023. The annual operating loss also widened, reaching $51.98 million compared to $26.50 million the prior year. A major contributing factor was a $61.22 million impairment charge in 2024, up significantly from $12.28 million in 2023.
Entravision Chief Executive Officer Michael Christenson attributed the company’s revenue growth to strong performances in key segments. “We achieved net revenue growth of 37% and 23% during the fourth quarter and full year 2024, respectively, compared to the same periods in 2023, driven primarily by record political advertising revenue in our Media segment and advertising revenue in our Advertising Technology & Services segment,” Christenson said.
“Our balance sheet remains strong, and as we look forward to fiscal year 2025 and beyond we continue to focus on providing highly-rated news and content to our audiences, strengthening our digital marketing solutions in combination with our television and radio offerings, and continuing to grow our Advertising Technology & Services segment,” he added.
