Belo reports television revenue was down 3.6% in the second quarter of 2005, attributing that to a fall-off in political advertising at its 19 TV stations.
Political ad revenue was $1.9 million for the quarter, compared to $7.5 million for second quarter 2004. As a result, spot revenue was down 4.1%, with local spot down only .2 percent and national spot was down 2.2%.
On the upside, ad revenues from the Web sites was up 41%.
Belo predicts more declines in the third quarter vs. the same quarter in 2004. That's because it took in a combined $22 million in political and Olympic dollars. "We currently expect only about $500,000 of political revenue in the third quarter and there will be no Olympic revenue," the company points out. It predicts high single-digit declines in spot revenue.
But to the upside rescue again, it sees Web site revenues to grow from $2.3 million in 3Q 2004 to $3.3 million in 3Q 2005.