Clear Channel Reports Revenue Increase In Q4 And Full Year 2012
February 19, 2013

Clear Channel parent company CC Media Holdings Inc. has released its fiscal report for both the full year 2012, as well as its fourth quarter. In Q4, Clear Channel consolidated revenues increased three percent to $1.7 billion, compared to $1.65 billion a year earlier. Clear Channel Media+Entertainment specifically saw its revenue grow four percent to roughly $821.5 million, due to increased political advertising as well as local and national ad growth. American revenue for Clear Channel Outdoor grew one percent to $343.4 million, while International revenue for the Outdoor division dropped by just under one percent to $459.8 million. The company's overall consolidated net loss for the quarter was $191 million, up from $43 million in Q4 2011.

For the full year of 2012, CC consolidated revenue grew by one percent to $6.25 billion, up from $6.16 billion in 2011. CCM+E revenue in 2012 was up by three percent to $3.085 billion, due to stronger advertising, as well as digital growth driven by iHeartRadio. The company reports a 100 percent rise in listening hours to the iHeartRadio platform for 2012. American Outdoor revenue was up two percent last year to just under $1.28 billion, while International Outdoor revenue was up by one percent to almost $1.668 billion. The company's consolidated net loss in 2012 was $424 million, up from $302 million in 2011.

"We are very pleased with our Company’s progress in strengthening our businesses over the past year, and we look forward to continuing our momentum into 2013," CEO Bob Pittman said. "We have put the right management team in place to focus on bringing new advertising dollars to the sector by demonstrating the value of our assets – especially our unique national platform across the media, entertainment and outdoor marketplaces. Moving forward, we will continue to use our unmatched national reach to grow our digital platforms, expand and deepen our relationships with national and local advertisers, launch innovative products and services and stage new and exciting events as only Clear Channel can."

"Despite the slow economic recovery, we delivered a solid financial performance for the 2012 fourth quarter and full year," added EVP/CFO Tom Casey. "At Clear Channel Media and Entertainment, we continued to outpace the competition in national advertising, digital, and total revenues. At Outdoor, the Americas’ progress in digital, airports and national advertising was encouraging, while International saw strength in emerging markets. Across the entire company, we remain aggressively focused on realigning our resources toward higher growth areas. 2012 was also an important year for capital markets activity, with $7.5 billion of debt raised at Clear Channel Communications and Clear Channel Worldwide Holdings in four separate transactions. Clear Channel Worldwide Holdings used proceeds for debt repayment and shareholder returns and Clear Channel Communications not only repaid debt but also gained important new flexibility to better manage liquidity and future maturities."




 
Breaking News
American General Media Names Picazzo Stevens PD At KAGM & KDLW/Albuquerque
June 30, 2015
iHeartRadio Takes Flight With Virgin America
Meredith Gardner & Josh Kahn Promoted To VPs of Digital Marketing & Product
In Brief - June 30, 2015
June 29, 2015
Alpha Media Louisville Names Otis Program Director/Afternoon Host At WDJX
Broadcasters Foundation Of America Names Dan Mason Co-Vice Chairman/Treasurer
JJ Kincaid Set To Wake Up Denver
BMG Acquires Verse Music Group
In Brief - June 29, 2015
June 26, 2015
eQB NOW
Sirius XM Agrees To Pay For Recordings Released Before 1972
Cumulus Names Troy Hanson PD At WKQX/Chicago
Brandon "Buster" Satterfield Joins Atlantic Records
June 25, 2015
Taylor Swift To Put 1989 On Apple Music
WLTW/New York To Celebrate 15 Years Of Broadway In Bryant Park
Report: Six Main Causes of Lost Quarter Hours
June 24, 2015
iHeartMedia Austin Names Zach Dillon Program Director For KHFI
jâcapps Introduces "App Everywhere"
Pierre Bouvard On "New Data on TV Viewing Levels and Demographics"
In Brief - June 24, 2015
June 23, 2015
Nielsen’s Q1 2015 Total Audience Report
Cox Media Group & Experience Technology Offer VIP Upgrades for BLI Summer Jam 2015
In Brief - June 23, 2015
June 22, 2015
Music News
Chris Brown, Beyoncé Top BET Award Winners
Quick Hits: Shinedown, Rob Thomas, Foo Fighters, AC/DC, Kings of Leon
Yes Bassist Chris Squire Passes Away
FMQB Photo Pass: Rush
Quick Hits: Demi Lovato, Jessie J, Billboard Hot 100 Music Festival
Beyonce & The Weeknd Headlining Made In America Festival
Quick Hits: Pharrell & Adele, Eminem / Southpaw soundtrack, Legacy of Hope concert
Quick Hits: Apple Music, Chris Brown
Quick Hits: Billboard 200, BET Awards, Smashing Pumpkins, Tyga, Riot Fest, The Neighbourhood, Marina and the Diamonds, Roger Waters
Disturbed Ends Four-Year Hiatus with Immortalized
Quick Hits: Janet Jackson, Nickelback, Tove Lo, Rod Stewart, Grateful Dead, James Horner, Hollywood Walk of Fame
Nate Ruess Announces Fall Headlining Tour
Quick Hits: David Guetta, New Order, Simple Plan, OMI, Patty Griffin
Taylor Swift Criticizes Apple Music Free Trial
Ozzy, Florence + The Machine Headlining 2015 Voodoo Festival
FMQB NOW

Brian Mack, PD
WXXL/Orlando

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!