Net Revenue Up At Gray
Political, digital advertising helped revenue jump 12% to $82.6 mil
By Michael Malone -- Broadcasting & Cable, 11/5/2008 1:01:00 PM
Gray Television reported total net revenue of $82.6 million for the third quarter, a 12% jump from the same quarter last year thanks largely to political and digital advertising. Political revenue was $13.1 million for the quarter, offsetting a 3% drop in local ad revenue and a 9% plummet in national ad revenue.
Internet advertising at Gray jumped 18% to $3 million for the quarter.
Gray anticipates that political revenue will remain strong for the fourth quarter, and local non-political ad revenue to be down in the mid-double digits.
“Total revenues anticipated for the fourth quarter of 2008 reflect an incremental increase in political revenues. Local non-political advertising revenue for the fourth quarter of 2008 is currently anticipated to be down approximately mid double digits compared to the results of the three-month period ended December 31, 2007,” the company said in a statement. “National non- political advertising revenue is currently anticipated to be down approximately 25% in the fourth quarter of 2008 compared to the fourth quarter of 2007. Internet advertising revenue for the fourth quarter of 2008 is currently anticipated to increase approximately 10% to 15% compared to the fourth quarter of 2007.”
Atlanta-based Gray operates 36 stations.
Net Revenue Down at LIN TV in Q4
02/27/2008LIN Q3 Revenues Fall 18%
10/28/2009Barrington Net Revenue Up 7.2% In Q4
03/17/2009Nexstar Group Q4 Revenue Down
03/09/2008Gray Q4 Revenue Up 12%
03/16/2009
