Gray Revenue Up 27% in Second Quarter
Gray Television reported second quarter revenue of $107.2 million, up 27% from the same quarter a year before. Six acquisitions aggregating 17 television stations accounted for approximately $8.9 million of total revenue in the second quarter. Political advertising and retransmission consent revenue increased in the quarter.
Gray’s local advertising revenue increased 11% to $56.7 million, while national advertising revenue decreased 2% to $14.8 million.
Internet advertising revenue went up 15% and political advertising increased 1,047% to $8.6 million.
Adding in results from Gray’s acquired stations to the 2013 second quarter, which Gray calls a Combined Historical Basis, Gray revenue went up 16% in the 2014 second quarter.
Atlanta-based Gray forecasts third quarter local advertising revenue to be up approximately 27% to 30%. National revenue is expected to climb 17%-25%.
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Michael Malone, senior content producer at B+C/Multichannel News, covers network programming, including entertainment, news and sports on broadcast, cable and streaming; and local broadcast television. He hosts the podcasts Busted Pilot, about what’s new in television, and Series Business, a chat with the creator of a new program, and writes the column “The Watchman.” He joined B+C in 2005. His journalism has also appeared in The New York Times, The Philadelphia Inquirer, Playboy and New York magazine.
By Kent Gibbons