Political Comes In Big For Radio One
When you back out political advertising, the Radio One radio division was still up by 2.9 percent. In Q4 Radio One net revenue was $60.2 million compared to $55 million in Q4 of 2011. In Q4 Radio One took in $5.9 million in political advertising. For the year, the $9.1 million in political advertising is the most in company history and more than twice what the company budgeted for. Retail, Government, and Telecom were Radio One's biggest categories in Q4. Auto also did well.
Reach Media's net revenues decreased 20.9 percent in the fourth quarter 2012 compared to the same period in 2011. The company says that was partially due to changes to certain Reach Media's affiliate agreements as well as "advertisers who deferred spending during the quarter." Net revenues for THE Radio One Internet business increased 7.7 percent for the three months ended December 31, 2012 compared to the same period in 2011.