• by Erik Sass  @eriksass1, May 13, 2013

The radio business had an uneven first quarter, with more mixed results from broadcast groups last week. On the positive side, Emmis Communications reported that total radio revenues increased 3% from $25.8 million in the first quarter of 2012 to $26.5 million in the first quarter of 2013 -- driving an increase in overall revenues, which grew 2% from $39.8 million to $40.7 million over the same period.

Looking ahead, Emmis CEO Jeff Smulyan said the company’s solid financial footing puts it in a position to begin making acquisitions, presumably to build its current portfolio of 18 FM and three AM stations around the country: “We're talking about buying, not selling.”
 
Urban broadcaster Radio One said total revenue slipped 3.7% from $103 million to $99.1 million, which the company attributed to a schedule difference for two annual special events -- a Gospel Cruise and “Tom Joyner Fantastic Voyage” -- that contributed to last year’s results.

However, Radio One’s core broadcast revenues were actually up 4.9% from $47.6 million to $49.9 million, while its cable TV business saw revenues jump 11.6% from $32.2 million to $36 million.
 
Finally, Entercom Communications said total revenues fell 2% from $80 million to $78.4 million. Despite the weak results, Entercom CEO David J. Field was optimistic, pointing to signs of economic recovery and improving fundamentals for the radio industry, as well as continued growth in the broadcast radio audience.
 
Previously, Cumulus Media reported that total revenues slipped 1.3% from $236 million to $232.9 million, due partly to the absence of political advertising and controversy surrounding talk show host Rush Limbaugh. Saga said total revenues slipped 1.3% from $29.3 million to $29 million, while Clear Channel said its Media and Entertainment division (formerly Clear Channel Radio) saw revenues fall 2% from $671.5 million to $656.6 million.
 
However, there was a bright spot from Christian broadcaster Salem -- where total revenues increased 2.5% from $54.3 million to $55.6 million -- powered largely by an increase in Internet revenue, which jumped 30.7% from $7.4 million to $9.7 million.