Sinclair Scores Big In Q1 With Political Spots, Double-Digit Ad Sales

Thanks to a healthy political advertising market, Sinclair Broadcasting group posted strong double-digit increases in advertising sales for the first quarter -- and expects the same in the next three months to come.

Media revenues improved 14.3% to $531.3 million, versus $464.8 million in the first quarter of 2015.

Political revenues racked up a big $24.4 million, versus $2.2 million for the same period a year ago. Sinclair says its digital offerings grew 28.1%.

Total revenues at Sinclair were up 14.7% to $578.9 million, with net income inching up to $25.6 million versus 24.8 

Sinclair expects these results will continue at the same pace: Media revenues are estimated to be up 19% in the second quarter.



Although much of this will come from stronger political advertising, core advertising grow only by “low single digit percent growth” says David Amy, EVP/COO of Sinclair, in the company’s earnings release.

But Sinclair expects continues high double-digit percentage results in other areas, “mid-20% growth in our digital platforms, and higher retrans revenues on renewals," says Amy. 

Sinclair stock was down 3.3% to $31.30 in mid-Wednesday trading. 

Next story loading loading..