Operating revenues were $854.2 million, including approximately $49.1 million from the 53rd week, compared to $867.0 million in the prior year quarter. Favorable changes in foreign currency exchange rates benefited revenues by $4.2 million. Same store operating revenues declined 8.8%, an improvement compared to a decline of 9.4% in the third quarter of 2017, due to our strategic subscriber pricing initiatives and the inclusion of a full quarter of ReachLocal revenue in our same store calculation. Total digital revenues increased to $272.3 million, or approximately 31.9% of total revenue. GAAP net losses were $13.6 million, including a $42.8 million tax expense from the Tax Cuts and Jobs Act of 2017 and $27.6 million of after-tax restructuring, asset impairment charges and other costs. Click Read More below for additional information.
Ad Market Sees Uptick, Digital Rises 11%
The U.S. advertising market grew 3.8% in the second quarter of this year — largely due to an 11% gain in digital media.
Standard Media Index says this followed a 2.8% increase in the first quarter.
National TV brought down the overall results. In the second quarter, national TV advertising revenue was virtually flat — down 0.8%. This followed a weak 0.8% gain in the first quarter.
These current results came amid higher-than-expected upfront advertising revenue commitments for next year’s TV season, starting in September. Upfront revenue growth is estimated at 4% to 6%.
Digital media’s 11% gain saw improvement from a relatively weaker 6% increase in the first quarter. Second-quarter results showed soaring 55% gains in its social-media category, with premium video (virtually all TV network-content) also strong, at 30% higher. In this video category, premium video site Hulu climbed 11%.
By way of comparison, non-premium video — including YouTube and Facebook video advertising results — sank an eye-opening 15%. Both Google’s YouTube and Facebook have had brand safety concerns, along with some measurement issues.
Magazine and newspapers showed more big declines — down 16% and 20%, respectively. Radio was off 4%, and out-of-home lost 1%.
more detail at: https://www.mediapost.com/publications/article/304705/ad-market-sees-uptick-digital-rises-11.html