As we look on the decade that has passed, we see the remarkable evolution of Emmis Communications Corporation. Let’s take a trip down memory lane to when the company its performance results for the second fiscal quarter ending August 31, 2014. A lot has changed since then, and this post delivers a detailed review of that transformative period for Emmis, emphasizing its revenue growth, strategic initiatives, and industry impact. Fast-forward to today, we are excited to bring you a refreshed perspective on the journey of this media powerhouse, its progress and where it stands in the current radio and publishing landscape.
Emmis Communications Corporation: A Look Back at 2014
In 2014, Emmis Communications Corporation results for its second fiscal quarter. The company’s radio net revenues were up 15%, from $41.2 million to $47.6 million. This includes reported revenue from New York’s WBLS 107.5 FM and WLIB 1190 , which Emmis began operating pursuant to a Local Marketing Agreement (“LMA”) on March 1, 2014.
Analysis of the Fiscal Quarter Performance
On a pro forma basis, assuming results for WBLS and WLIB were included in the same quarter of the prior year and consistent with Miller Kaplan reporting, which excludes barter revenues and syndication revenues, Emmis’ radio net revenues would have been down 1.7%. This compares favorably to local radio market revenues, which were down 5.1% during the fiscal quarter on the same basis.
Emmis’ Future Projections and Publishing Revenue
Consistent with Miller Kaplan reporting, which excludes barter revenues and syndication revenues, Emmis’ pro forma radio net revenues were predicted to pace up mid to high single digits for its third fiscal quarter. Publishing net revenues were up 3% in the second fiscal quarter, driven by higher advertising rates and an increase in custom publishing business.
Operating Income
For the second fiscal quarter, operating income was $12.5 million, compared to $5.7 million for the same quarter of the prior year. Emmis’ Radio Station operating income for the second fiscal quarter was $15.2 million, compared to $14.2 million for the same quarter of the prior year.
CEO Insights and NextRadio Initiative
“The summer months of 2014 presented challenges for the radio industry, but our employees once again delivered revenue share gains. In addition, our ratings significantly outperformed during September, highlighted by Power 106 holding the top spot in LA with both 18-34 and 18-49 audiences,” Jeff Smulyan, President &” target=”_blank”>; CEO of Emmis, said. “Pacings have improved, looking much stronger for the fall than the summer. Momentum is continuing to build for NextRadio, the Emmis-led industry initiative to make FM broadcast radio available on smartphones and tablets, as we approach 1 million downloads.”
#MusicIndustry #RadioBroadcasting #EmmisCommunications #MediaEvolution #NextRadio
