Entravision Communications chairman/CEO Walter Ulloa pointed to digital as the third quarter highlight, which offset decreases in the Hispanic media company’s radio and TV divisions. Overall net revenue increased $2.8 million year-over-year from $70.6 million in 2017 to $73.4 million this year. Ulloa said 2018 was a record year for revenue derived from the midterm elections. By Election Day 2018, Entravision booked over $12 million for the year. “That’s up more than 30% from our 2014 political advertising revenue and more importantly plus 14% over the 2016 presidential election cycle,” he said.
Audio revenues, meanwhile, were down 7% in the same period year-over-year.
Of the overall increase, approximately $5.3 million was attributed to digital, due to the growth of the media group’s Headway digital arm, which Entravision acquired in 2017.
Local revenue for the company’s audio division was down 9%, while national revenue was down 3%. Political revenue for Q3 2018 was $276,000 compared to $339,000 in third quarter of 2014. Decreases in local and national advertising revenue led to a $1.1 million drop in radio revenue for the quarter. The company did see an increase in radio revenue from the 2018 FIFA World Cup and an increase in political revenue in 2018.
The audio division saw a 13% increase in automotive advertising in the third quarter of 2018. Ulloa said five of their top ten automotive clients spent more in the quarter. Financial, another one of the company’s top advertising categories, experienced an increase of 30% during the same time period. “Services, healthcare, travel and leisure and retail – four of our top ten categories for audio – delivered disappointing results in the quarter, compared to the third quarter of last year,” Ulloa said on the investors call. Entravision’s audio division “added 24 new advertisers who spent more than $10,000 in the third quarter, which totaled approximately $630,000 in advertising revenue,” he continued.
Ratings highlights for the company’s radio networks include “El Show de Erazno y La Chokolata” being ranked number one in eight of the nine markets released for summer 2018 among Hispanic adults 18-49, Ulloa revealed. For Hispanic adults 18-34 and Hispanic adults 25-54, the show ranked number one in seven markets.
The “Jose” network, which Entravision relaunched at the beginning of 2018 in the Los Angeles and Riverside-San Bernardino markets, continued to perform. The chairman/CEO said in Riverside-San Bernardino, “Jose ranked as the number one radio station regardless of language during morning drive, midday, afternoon drive and total week among adults 18-49 and adults 25-54.”
The company’s regional Mexican “La Tricolor” format turned in a strong performance among young Latinos. The format “ranked number one or two among Spanish language radio stations in seven out of eight markets among Latino adults 18-34,” Ulloa boasted. “Morning drive our stations ranked number one or two among Hispanic language stations in five out of eight markets in Hispanic adults 18-34.”
Piolin (Eddie Sotelo), midday talent for the company’s “La Suavecita” format, saw cume increases of 24% in Persons 18-49 and 47% among Persons 18-34.
Ulloa recognized outgoing chief revenue officer Mario Carrera as being a key part to the company’s political advertising gains over the year. “Mario has decided to move on to a new stage in his life after 15 years with the company,” Ulloa said. “I want to thank Mario for his service and dedication at Entravision and we wish him the best in the future.”