Spanish Broadcasting System (SBS) saw a 22% increase in net revenue for the first quarter of 2013. For the quarter ending March 31, 2013, consolidated net revenues totaled $39.1 million compared to $32.1 million for the same prior year period – an increase of $7 million.
SBS radio segment revenues increased $5.2 million or 19%, “primarily due to special events revenue, national, barter, local and interactive sales,” with the increase in national sales mainly in the Los Angeles market. Local sales increases in Puerto Rico, New York and Los Angeles offset decreases in Chicago and San Francisco markets.
The SBS television segment net revenues increased $1.8 million or 42%, “largely due to the increase in special events revenue, offset by a decrease in national and local spot sales and integrated sales.”
In a Q1 2013 earnings conference call on Thursday, President and CEO Raúl Alarcón Jr. stated SBS had generated double-digit increases in revenue and cash flow during the first quarter. “We’re clearly benefiting from the investments we have made in our stations, our content, our digital assets and our sales infrastructure, as well as our focus on maintaining operating discipline, a strict operating discipline across the SBS organization.”