Sinclair Broadcast Group witnessed a decline in key distribution first-quarter revenues, due to traditional and virtual pay TV providers dropping Bally Sports, its regional sports networks (RSNs) group.
RSN distribution revenues were down 7%, from $752 million a year ago to $698 million. The company says the decline was also partly due to lower overall pay TV subscribers versus a year ago.
Sinclair’s total advertising revenues sank 7% to $371 million -- a result that was somewhat expected given comparisons to a year ago, when many TV station groups witnessed major benefits from political advertising.
Leaving out political, core advertising brands had a 3% rise to $358 million.
In recent years, TV station groups have counted more heavily on retransmission/carriage distribution fees and political advertising for overall revenue growth.
Advertising revenue was $267 million for Sinclair’s broadcast stations and $65 million for its regional sports networks (RSNs).
In the next quarter, Sinclair expects between $270 million and $286 million in advertising revenue for its TV stations, and $155 million and $167 million for its RSN group.
Distribution revenue was $698 million for its RSNs and $361 million for its broadcast stations.
Overall, Sinclair revenues slipped 6% to $1.5 billion, while net income fell 82% to $26 million.