TVNewser LostRemote AgencySpy PRNewser FishbowlNY FishbowlDC SocialTimes AllTwitter AllFacebook InsideFacebook InsideSocialGames InsideMobileApps

Meredith Reports 9.2% Drop in Local Media Revenue

Meredith reported results for the first quarter of its fiscal year this morning, announcing a drop in revenue for the company’s local media group.

Meredith, which owns 12 stations across the country including WGCL in Atlanta and KPHO in Phoenix, reported $69 million in total revenues for its local media group, compared to $76 million brought in during the same period last year.

In announcing financial results for the quarter, Meredith was quick to point out that its TV stations recorded approximately $11 million less in political advertising revenues than in the same period last year. Excluding political advertising, revenues rose 3%.

“We were able to leverage our strong news ratings to drive advertising growth across our largest categories and markets,” said Meredith chairman and CEO Stephen Lacy.

Automotive advertising increased 4% for the quarter and digital revenues were up 25%.

Meredith also announced that KPTV in Portland, WFSB in Hartford, and KVVU in Las Vegas were its strongest performing stations for the quarter.

Mediabistro Course

Online Production for Writers and Editors

Online Production for Writers and EditorsStarting July 17, learn how to create multi-dimensional content for your digital mediums! Taught by a multiplatform journalist, Darragh Worland will teach you how to create content that is multi-dimensional and editorially relevant, use the web to its full potential, create stories that have social media campaigns built in and increase your value as as an employee. Register now!