Meredith Broadcast Revenue Hits $142M in Q3 2017 - Broadcasting & Cable

Meredith Broadcast Revenue Hits $142M in Q3 2017

The figure is a 1% increase from the same quarter a year ago
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Despite losing political and Super Bowl revenue, Meredith’s broadcast group revenue hit $142 million in the third quarter of 2017, a roughly 1% increase from the same quarter a year ago.

In its earnings report Thursday, the company said growth in retransmission consent revenue offset the effects of being in a non-political year, as well as the Super Bowl airing on Fox instead of Meredith’s larger number of CBS affiliates.

The Local Media Group’s non-political advertising revenues were $84 million, compared to $91 million the year before, Meredith said. Political dropped to $1.7 million from $5.6 million.

Other revenue, however, jumped to $55.9 million from $44 million, largely due to a boost in retransmission money. A 10% growth in digital contributed as well, Meredith said.

The broadcast division’s operating profit was $41 million, and EBITDA was $50 million.

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