When newly acquired stations are included in the comparison, Cumulus Media said total nonpolitical broadcast radio advertising revenues slipped 1.3% from $305.2 million in the second quarter of 2013 to $301.2 million in the second quarter of 2014.
However, this decline was more than offset by gains in political advertising, up 219% from $1.2 million to $3.8 million, and digital advertising, up 98% from $6.5 million to $12.9 million. As a result, Cumulus’ total revenues edged up 2% from $321.9 million to $328.2 million, again when newly acquired properties are included.
Cumulus broadcast radio revenues were boosted by last year’s acquisition of WestwoodOne, a radio network that provides syndicated news, sports, talk and music programming, as well as advertising and events services, and a station swap with Townsquare Media, also completed in 2013.
Cumulus Media CEO Lew Dickey attributed the weak second-quarter results for broadcast radio to a slump in advertising demand in a number of categories in May and June, including retail healthcare, entertainment and real estate.
Also this week, Entercom announced that total revenues were basically flat at $100.2 million in the second quarter of 2014, down about 1% from $101.2 million in the second quarter of 2013, with president and CEO David Field blaming “sluggish business conditions” that “persisted throughout the quarter,” although June results showed a modest improvement. The company’s best performing categories were insurance, telecom, TV and cable, grocery and professional services.
Radio One, which targets mostly African-American and Hispanic audiences, said broadcast radio revenues decreased 4.1% from $58.8 million to $55.8 million. Radio advertising revenues fell 3.8%, offsetting a small increase in the company’s cable TV revenues, from $37.7 million to $38 million. Between the fall in radio revenues and the changed timing of the annual “Tom Joyner’s Fantastic Voyage” cruise hosted by Reach Media, the company’s total revenues fell 9.4% from $119.6 million to $108.4 million.
Previously, Beasley Broadcast Group said total revenues fell 3.6% from $26.9 million in the second quarter of 2013 to $25.9 million in the second quarter of 2014, the company announced Friday. Emmis said total radio revenues were flat at $45 million in March, April, and May (the broadcaster’s first fiscal quarter). And Clear Channel Media and Entertainment, formerly Clear Channel Radio, revealed that total revenues edged up less than 1% from $805.6 million to $806.3 million.