Despite a dip in core advertising, Tribune Media Tuesday reported that its TV and entertainment division revenue rose 5% to $467.1 million in 2Q, driven by lifts in political advertising, as well as retransmission and carriage fees.
That number includes:
- A $9.4 million increase in net political advertising revenue
- An increase in retransmission consent revenue of $13.2 million, or 19%
- An increase in carriage fee revenue of $8.8 million, or 41%
Tribune reported those gains were partially offset by a decrease in core advertising—local national ads excluding political—of $8 million, or 2%. Total television and entertainment net advertising revenues including political increased 1% to $337.2 million, notwithstanding two fewer days in the second quarter of 2016, the company reports.
President and CEO Peter Liguori said in a statement that political advertising is on track to be a record year reaching the projected $200 million. He said the company is also seeing traction from its WGN America originals Underground, Outsiders and Salem.
However, Tribune’s ongoing retransmission dispute with Dish, which pulled the company’s 42 stations on June 12, will be a factor in Tribune’s intake moving forward, Liguori said. “If we are unable to enter into a new contract with DISH Network, our retransmission consent and carriage fees and other revenues will be impacted in future periods,” he said.