Regional publisher and broadcaster Emmis Communications reports higher publishing revenue in Q1 2014 earnings report
Publishing net revenues up 7 percent in Q1, driven by higher advertising rates and an increase in custom publishing business, the company says
This bit of good news came out of the blue: regional publisher (and broadcaster) Emmis Communications yesterday reported stronger publishing revenue. Publishing revenue rose 7 percent – thanks, the company said, to higher ad rates and better custom publishing performance.
Emmis also reported very strong radio revenue, up 22 percent as the company began to report its revenue from New York stations WBLS 107.5 FM and WLIB 1190 AM. But Local Marketing Agreement fees actually cut into the company’s net income as it reported $6.64 million in operating income versus $7.05 million in the same quarter of 2013.
“While our markets continue to be tested, our stations and employees have risen to the challenge and continue to outperform our markets,” Jeff Smulyan, President & CEO, said. “We continue to believe NextRadio, the Emmis-led industry initiative to make FM broadcast radio available on smartphones and tablets, is a game-changer for the radio industry and will reignite growth. We have spent the last year building out the NextRadio ecosystem, and now we are entering a critical phase to build consumer awareness. I’m proud of our team for its continuing focus on innovation and operational excellence.”
Emmis Communications is the publisher of such city/regional magazines as Indianapolis Monthly, Los Angeles, and Texas Monthly magazines.