Belo Spot Revs Aided By Political Push
Dallas-based Belo Corp. witnessed uneven results from its core advertising spot revenue in its the second quarter of financial results.
While political advertising lifted overall spot revenue 6% during the period, total spot revenue excluding political was down 0.5% -- mostly coming from lower national spot revenue, which dropped 5.5% from the second-quarter 2011 period. The company says some key markets witnessed tough business results.
Local spot revenue, however, did gain 2.3%. Political revenue climbed to $9.5 million in the period from $8.3 million in the second quarter of 2011.
Overall, the company gained 7% in total revenue to $178 million, with net earnings rising to $25.8 million from $18.1 million.
Belo says "other revenue" -- Internet advertising, retrans revenue, and barter and trade advertising -- was up 12%, primarily as a result of double-digit increases in both Internet and retrans revenue.
The company says third-quarter total spot revenue is currently pacing up in the high teens, with both core spot and political advertising revenue.
Dunia Shive, president and chief executive officer of Belo Corp. stated: "We currently expect other revenue, which includes Internet and retransmission revenue, to be up in the low double-digits during the third quarter. As a result, we currently expect the percentage growth in total revenue for the third quarter of 2012 to be up in the mid-to-high teens compared to the prior year, depending on the strength of political."