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Radio One reports another quarter of strong growth, thanks to radio
division
Radio One last week reported second quarter growth for the company remained strong. CEO Alfred C. Liggins, III reported operating income of approximately $21.5 million for the quarter ending June 30th, compared to operating income of approximately $15.8 million for the same period in 2011. The radio division was up over 6 percent compared to the second quarter of 2011. The first quarter also saw an increase of over 6 percent. "I was pleased with our second quarter core radio revenue growth of 6.5% year over year.,” said Liggins. “While the timing of the One Love Gospel Cruise and other corporate revenues brought the headline radio revenue growth rate down to 2.7%, I believe we strongly outperformed the markets in which we operate. We expect this trend to continue into the third quarter, where we are currently pacing up high single digits, with political revenues likely to strengthen as we move closer to the Presidential election.” The top Radio One markets for Q2 were Baltimore (up 16.5%), Raleigh (up 16.3%), Atlanta (up 8.5%), Washington, D.C. (up 5.9%) and Houston (up 2.2%). "Our Internet division had a somewhat weaker than expected second quarter, with a lack of tent-pole events around which to build revenue. I expect their progress towards profitability to resume in the third quarter." Go to Target Market News homepage RECENT STORIES Former GM and Allstate marketing exec hired as COO for Global Team Ford agency Interactive One's Urban Daily site adds video series with Toyota partnership Black TV Ratings for Week of July 23 - 29 Black viewers watching Summer Olympics with same high interest as 2008 games Veteran news executive Camille Edwards named Vice President of News at WABC-TV Nielsen survey: Companies say multicultural consumers key to future success St. Louis American again voted nation's best African-American newspaper Bounce TV gets rights to Black films from Disney, Miramax, Sony Pictures and MGM Walton Isaacson agency named Supplier of the Year for third consecutive year Black Cable TV Ratings for Week of July 16 - 22 VH1 captures No.1 cable show and network titles in a week of mixed viewing Black TV Ratings for Week of July 16 - 22 'Person of Interest' returns to No.1 TV show in black households Click here for more recent news stories and our news archive Return to top of page |
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