Saga, Salem Report Uptick In Radio Results

Radio’s sluggish first quarter was followed by modest improvement in the second quarter, judging by the results from several broadcast radio groups. Saga Communications and Salem Communications both reported revenue increases, following positive results from Clear Channel and Cumulus.
Saga Communications -- which owns 61 FM and 30 AM stations, as well as eight TV stations -- announced that net operating revenue increased 2.6% from $33 million in the second quarter of 2012 to $33.8 million in the second quarter of 2013.

Saga attributed the growth to somewhat increased demand for national advertising, which outpaced local advertising by a small margin. Saga CEO Ed Christian was cautious about the future, noting continuing uncertainty in the broader economic climate. He warned that comparisons in the second half of the year will be tougher because of the relative absence of political advertising.
Salem Communications, a Christian broadcaster which owns 99 radio stations in 38 markets, reported that total revenues increased 4.4% from $57.6 million in the second quarter of 2012 to $60.1 million in the second quarter of 2013. Broadcast revenues increased 1.4%, from $46.4 million to $47 million.

Salem also reported strong growth in Internet revenues, which increased 23.3% from $8 million to $9.9 million. Looking ahead, Salem CEO Ed Atsinger said revenues in the third quarter will probably be flat or up 2%.
Previously, Clear Channel Media Holdings reported that revenues at Clear Channel Media and Entertainment (previously Clear Channel Radio) increased 2% to $805.6 million in the second quarter of 2013, contributing to an overall revenue increase of 1% to $1.62 billion. Total revenues from the company’s outdoor advertising businesses increased 0.7% to $767 million.

Cumulus Media reported that total revenues increased 3.1% from $281 million to $289.7 million



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