Entravision Communications said Thursday that third-quarter revenue fell 8% to $68.8 million from $74.6 million a year ago, with the decline driven by softness in the company’s radio and digital segments.
Entravision’s bottom line was a loss of $12.2 million following a gain of $2.2 million a year ago.
Radio revenue fell 6% to $14.8 million from $15.8 million a year ago. Local revenues were up 2%, but national revenues plunged 19%. Excluding political, core radio revenues were down 5% in the third quarter. Through the first nine months of the year, radio revenue is down 13%.
Chairman and CEO Walter Ulloa, speaking on the company’s quarterly earnings call, said one factor that contributed to the decline was the decision to merge KLYY Riverside, KSSE Los Angeles and KSSD San Diego into a superstation, Spanish adult hits “Jose.”
“Based on this change, we saw a decline in national revenue,” he said. “With the change in format, national agencies need to see results nearly six to nine months prior to purchasing the station. On a local basis, we have seen revenue improvement in each quarter of 2019.”
Ulloa said the absence of revenue from the 2018 FIFA World Cup and a decrease in political advertising have also weighed on results.
But Ulloa also sounded a note of optimism: He added that KLYY is a top radio station in the hyper-competitive L.A. metro: Among Hispanic adults 18-49 for the month of September, KLYY ranked as the No. 2 Spanish-language station during morning drive, and No. 1 in afternoon drive.
The company’s digital operations, meanwhile, fell 21% to $17.6 million, and television was flat at $36.4 million.