Excerpt from the earnings call transcript:
Management quotes "During the first quarter ended May 31, 2013, we reported net revenues up 3.3%. Pro forma for the 98.7 FM LMA in New York, radio net revenues grew 7.3%. Revenues in markets where Emmis competes grew a healthy 5.1% in the quarter with our largest markets in New York and Los Angeles posting plus seven and plus five quarters respectively.
Our Los Angeles station Power 106 continued its HOT streak with an up 14 quarter outpacing the LA market.
Our market leading cluster in Austin posted an up nine quarter with market share growing to nearly 41% and our St. Louis station is also beat their market with an up six quarter.
As Jeff alluded to national was up 4, local up 7, NTR up 7 and our industry leading digital platform grew 24% during the quarter. Given our continuing emphasis on local sales, all segments outpaced our market competitors except national which we were heartened to see grew 12% in our markets. Taking a quick look at our monthly trends. We're up 8 in March, up 8 in April, and up 6 in May.
During the first quarter, our number of minutes sold increased 2% compared to the prior year with our average minute rate increasing 3.5%."
Full Transcript here
Management quotes "During the first quarter ended May 31, 2013, we reported net revenues up 3.3%. Pro forma for the 98.7 FM LMA in New York, radio net revenues grew 7.3%. Revenues in markets where Emmis competes grew a healthy 5.1% in the quarter with our largest markets in New York and Los Angeles posting plus seven and plus five quarters respectively.
Our Los Angeles station Power 106 continued its HOT streak with an up 14 quarter outpacing the LA market.
Our market leading cluster in Austin posted an up nine quarter with market share growing to nearly 41% and our St. Louis station is also beat their market with an up six quarter.
As Jeff alluded to national was up 4, local up 7, NTR up 7 and our industry leading digital platform grew 24% during the quarter. Given our continuing emphasis on local sales, all segments outpaced our market competitors except national which we were heartened to see grew 12% in our markets. Taking a quick look at our monthly trends. We're up 8 in March, up 8 in April, and up 6 in May.
During the first quarter, our number of minutes sold increased 2% compared to the prior year with our average minute rate increasing 3.5%."
Full Transcript here
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