• by Wayne Friedman , May 8, 2018

As with other TV station groups, Tegna and Gray Television continued to post strong double-digit percentage retransmission revenue improvements.

In the first quarter of this year, Tegna revenues were up 13% to $205.6 million -- witnessing growth in total paid subscribers from OTT streaming services.

The McLean, Virginia-based TV group estimates streaming revenues to be up by “mid-teens” percentage for the full year.

Advertising also performed better -- up 5% to $282.9 million -- including traditional advertising and digital advertising as well as revenue from the company's digital marketing services business.

Tegna says its OTT ad sales unit, Premion, is on track to double last year’s revenue of $30 million in 2018.

“Even without the benefit of Super Bowl, Olympic and political advertising, revenue grew nearly 6%,” the company said. Super Bowl and Olympic advertising during the quarter contributed $24 million.

Total company revenues were up 9% to $502 million, with net income up 24% to $55.2 million. Mid-day Tuesday stock price was up 1.5% to $10.74.

Separately, Atlanta, Georgia-based TV station group Gray Television posted 11% gains in revenues to $226.3 million, with net income almost doubled to $19.9 million from $9.4 million the prior year period.

Local advertising (traditional/digital/mobile) was up 3% to $105.5 million; retransmission revenues were 27% higher to $85.5 million.