Spanish Broadcasting System reported first quarter consolidated net revenue increased 64% to $40.4 million from $24.6 million in 2021.
- Radio revenue climbed 75% to $38 million from $21.7 million.
- Adjusted OIBDA rose 368% to $6.68 million, with radio rising 151% to $11.7 million.
- Operating income grew to $5.8 million from a loss of $800,000.
- The company narrowed its net loss to $1.67 million from $9.27 million in the year-ago period.
"Our first quarter results demonstrate the continued operating superiority of the SBS team as reflected in the performance of our leading audio, network, digital and experiential assets and the ongoing momentum in our business," said Chairman/CEO Raul Alarcon. "We once again delivered an industry-leading performance, including radio revenue growth of 75%, adjusted OIBDA growth of 151% and operating margins far exceeding both our Spanish and English-language peers.
"We've started off strong in 2022 and are preparing to rollout a number of progressive audience initiatives, among which is the recent addition of our two-station Orlando and Tampa duopoly, which has significantly expanded our footprint in Florida, making SBS the largest Hispanic radio platform in that high-growth state. In addition to our audio division, our digital and mobile revenues are accelerating, and our live events platform is positioned to have an extraordinary year.
"We've started off strong in 2022 and are preparing to rollout a number of progressive audience initiatives, among which is the recent addition of our two-station Orlando and Tampa duopoly, which has significantly expanded our footprint in Florida, making SBS the largest Hispanic radio platform in that high-growth state. In addition to our audio division, our digital and mobile revenues are accelerating, and our live events platform is positioned to have an extraordinary year.
Spanish Broadcasting System, Inc., released Monday its 2022 virtual newfront: Greatness Happens Here.
During a 3-minute video presentation, featuring newly appointed President, SBS, Albert Rodriguez, viewers are taken behind the scenes at Spanish Broadcasting System headquarters where they'll learn about the scale and programming of its owned-and-operated radio stations, AIRE Radio Networks, the largest minority-certified audio network, LaMusica, the #1 Hispanic streaming app, MegaTV and its live music division, SBS Entertainment. Rodriguez also formally announces the acquisition of it two new radio stations under the legendary El Zol Brand: WPYO-FM 95.3 in Orlando and WSUN-FM 97.1 in Tampa, making SBS the largest broadcaster in Florida.
Greatness Happens Here represents the second phase of SBS's It Happens Here campaign. In addition to the video presentation, the 2022 newfront contains an informative interactive website that provides a deeper look across the effectiveness of working with minority-owned multimedia businesses as well as the overall SBS portfolio:SBS Audience: SBS's audience represents 44% of the U.S. Hispanic Population and is loyal, committed and exclusive to its platform.
SBS Owned and Operated Audio Stations & Programming: Portfolio consists of 20 high-ranking Spanish-Language stations in key formats and top markets. Stations include WSKQ-FM 97.9, the #1 on-air and streamed station in New York and America, regardless of language. Also, KLAX-FM 97.9, a regional Mexican format station, celebrating 30 years of success in the L.A. market. SBS' robust programming portfolio also includes Al Aire con El Terri, #1 in Los Angeles and the fastest-growing syndicated Regional-Mexican morning show; Omar y Argelia Show, celebrating a 20-year trajectory and recently relaunched in the L.A. market on KXOL-FM, La Mega 96.3; Alex Sensation – dominating the 10a-3p daypart in the country as well as Molusco y los Reyes de la Punta, premiering in El Nuevo Zol in Orlando and Tampa.
Aire Radio Networks: AIRE Radio Networks, the largest minority owned and certified Spanish Language audio network reaching 95% of the Hispanic market, is the distribution platform for our exclusive programming and iconic on-air personalities. The network consists of a variety of targeted vehicles designed to reach the various demographics that matter most to our advertisers.
SBS Entertainment: SBS Entertainment brings to life some of the most iconic live Latin music experiences and relishes in the loyalty of Hispanic consumers from coast-to-coast. From audio, digital to intimate venues and sold-out arenas, our live music division reaches millions of Hispanic consumers through their long-standing passion for music.
MegaTV: MegaTV is available in 21MM paid homes across DirecTV and ATT U-verse and features some of the most trusted and recognized TV personalities and exclusive programming.
MegaTV: MegaTV is available in 21MM paid homes across DirecTV and ATT U-verse and features some of the most trusted and recognized TV personalities and exclusive programming.
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