Spanish Broadcasting System (SBS) consolidated net revenue was up 6% in second quarter 2019 from $34.7 million to $36.9 million. Radio rose 5% to $32.9 million, accounting for the bulk of the company’s net revenue. TV grew 13% to $3.9 million.
“Our second quarter results once again validate the company's strategic and operational strengths and give further evidence as to our standing as the undisputed leader in Hispanic radio, as well as one of the premier radio owner/operators in the nation's largest markets,” Chairman/CEO Raúl Alarcón said in a release.
Radio segment net revenue increased $1.7 million with increases in local, barter, network and digital sales, which were offset by decreases in special events revenue and national sales, the company said in announcing its earnings.
“During the quarter, management's focus on operations yielded superior metric results in all of the major facets of our company's operations: ratings, revenues and adjusted OIBDA growth, while maintaining industry-leading radio margins of 44%,” Alarcón said. He also pointed to top rankings in the company’s core markets, including the No. 1 and No. 2 Spanish-language stations in the two largest radio markets of New York and Los Angeles.
In addition, “Our radio, television, interactive and live events businesses are growing and our 250+ affiliate radio network will have one of its best sales years since commencing operations,” Alarcón added. “Looking forward, we will continue to focus on growing our core revenue while adhering to strict cost controls to further solidify and expand our operating margins. We fully expect 2019 to be, in all respects, another banner year for SBS.”