Clear Channel Q1 Revenue Up 3% To $1.36 Billion
May 4, 2012

Clear Channel Media and Entertainment parent company CC Media Holdings has reported its financial results for the first quarter of 2012, with revenue up three percent to $1.36 billion from $1.32 billion a year ago. CCME revenue was up $39 million, a six percent increase, due to its acquisition of additional traffic operations as well as increased revenue from national advertising and digital radio services. CCME revenue reached $671.5 million in Q1, up from just under $633 million in Q1 '11.

CCME operating expenses were up 11 percent, to $456.1 million while its OIBDAN fell three percent to $215.3 million. Operating expenses grew due to costs related to CC's traffic acquisition, as well as growth in its digital initiatives.

American outdoor revenue rose $10 million, or four percent, to $280.15 million and international outdoor revenue fell two percent to $371.1 million.

CC Media Holdings' consolidated net loss grew to $144 million in the first quarter of 2012 compared to a consolidated net loss of $131 million for Q1 '11# Among CC's key highlights of Q1 was "surpassing 75 million downloads and upgrades of the iHeartRadio application, while reaching 107 million total listening hours in March, up 104 percent year over year."

"Since the start of 2012, we have continued to invest in our rapidly growing digital products and services, while strengthening our operations to better serve our marketing partners and our consumers," CEO Bob Pittman said. "We have enhanced our ability to help our partners take advantage of the unique size and scale of our media, entertainment and outdoor assets, with a particular focus on multi-platform solutions that no other company is able to deliver."

"Despite the slow advertising recovery, we generated growth of 3 percent in revenues during our traditionally slow first quarter," Tom Casey, EVP/CFP said. "As a result of a successful debt offering by a subsidiary of Clear Channel Outdoor Holdings, Inc., we were able to apply the special cash dividend proceeds received to enhance our debt maturity profile and liquidity by paying down debt due in 2014. During the remainder of 2012, we plan to continue to invest strategically in our infrastructure, while closely managing our costs."




 
Breaking News
Columbia Records Announces Jennifer Frommer As Head of Its Creative Agency
iHeartRadio Summer Pool Party Heats Up Miami
National Radio Hall of Fame Announces 2016 Nominees
Shelley Wade Named Afternoon Host at KMYI (Star 94.1)/San Diego
Spotify's Family Plan Gets An Upgrade
May 20, 2016
eQB NOW
May 19, 2016
Republic Records Promotes David "Davey Dee" Ingenloff to SVP/Rhythm Crossover Promotion
WLLD (WiLD 94.1)/Tampa Goes Nuts In PM Drive & Grabs A Franchize At Night
Mike Mathewson Named VP/Marketing For Columbia Records
Universal Music Forms Verve Label Group, Appoints Danny Bennett as President/CEO
Entravision Promotes Don Daboub To EVP/Integrated Marketing Solutions
May 18, 2016
Rare On-Air Opening At Power 106 Los Angeles
Ross Mahoney Named PD/PM Drive Host At KXTE/Las Vegas
Erika Alfredson Named VP/Marketing For Columbia Records
May 17, 2016
SBS Reports First Quarter Results
Westwood One Backstage At the BBMAs To Feature Exclusive Content And Pop Trio Bahari
In Brief - May 17, 2016
May 16, 2016
Gary Marella Named EVP/Mosley Music Group
SiriusXM Canada Going Private in $367 Million Deal
Radio Button Network Names Adam Goodman As First CEO
iHeartMedia's Chase Murphy Releases #Tryharder
3rd Annual GAB Radio Talent Institute Is In Session
In Brief - May 16, 2016
May 13, 2016
RCA Records Promotes Wendy Goodman To SVP/Promotion
Music News
The Weeknd Tops Billboard Music Award Winners
Drake Stays at #1, Meghan Trainor Debuts at #3 on Billboard 200
Quick Hits: Red Hot Chili Peppers, Megadeth, Ramones
Drake Leads Nominees For 2016 BET Awards
Quick Hits: Adele, Fifth Harmony, Life is Beautiful festival, Beastie Boys
Quick Hits: Chevelle, Rage Against The Machine / Prophets of Rage, 3 Doors Down, Make America Rock Again tour
Ariana Grande, Calvin Harris & More Headlining Billboard Hot 100 Festival
Quick Hits: MuchMusic Awards, Guns N' Roses / Lenny Kravitz / Alice in Chains, Rage Against The Machine, Riot Fest
Puff Daddy Takes Bad Boy Reunion on the Road
Quick Hits: Justin Timberlake, Houston Open Air, The Temper Trap, High Elevation Rock Festival, Pilgrimage Music & Cultural Festival, Lou Reed
Drake Stays Atop Billboard 200, Radiohead Debut at #3
Quick Hits: Adele, Red Hot Chili Peppers, Sia, Oasis
Ozzfest and Knotfest Combine Forces
Quick Hits: Rihanna & Meghan Trainor, U2, Chance the Rapper, Chevelle, Marilyn Manson
Ariana Grande to Perform New Music at Billboard Awards
FMQB NOW

John Mayer
PD, WFLZ/Tampa

Advertisement:
Search FMQB.com
Advertisements:
FMQB Member Login
Email:
Pass:

Save
Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!