RI Media - LIN Up, Belo Down, Phoenix Laysoffs Five, GoLocal Up 500%
GoLocalProv Business Team
RI Media - LIN Up, Belo Down, Phoenix Laysoffs Five, GoLocal Up 500%
This week Rhode Island saw several interesting developments in the media industry. The local TV groups, the alternative newspapers' parent company, the Providence Journal's Dallas-based parent company A.H. Belo, and Providence's GoLocal24 - each reported new numbers.
Here is the round up:
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The parent company of WPRI-12 and the local Fox affliate, LIN Media reported big number for Q2.
Net revenues increased 20% to $121 million, compared to $101 million in the second quarter of 2011. Local revenues, which include net local advertising revenues, retransmission consent fees and TV station web site revenues, increased 14% to $74.3 million, compared to $65 million in the second quarter of 2011. Net political revenues were $7.6 million, compared to $1.8 million in the second quarter of 2011.
Lin Media's President and Chief Executive Officer Vincent L. Sadusky said: "A healthy rebound in automotive advertising, our unique multiplatform advertising solutions and strong political demand were the major drivers for our 20% increase in net revenues, which exceeded the high-end of our revenue guidance."
LIN is headqartered in Providence and owns 50 TV stations across the country.
The Virginia-based TV group who recently sold off their newspapers this week announced the layoff of 75 employees across their corporate structure. It is unclear if the layoffs will affect staffing at WJAR.
The news from Dallas is not good as the newspaper group and owner and operator of the Providence Journal continued to struggle in advertising and circulation in Providence. For the Providence Journal circulation revenue was down 6%. Across the company, "Display advertising revenue decreased 15 percent to $21.5 million, and preprint revenue decreased 1 percent to $20.3 million. Classified revenue decreased 13 percent to $13.6 million. Digital revenue increased 1 percent to $8.8 million."
The good news was the their revenue increased for contract printing.
Phoenix
Good news and bad news hit the parent company of the Providence Phoenix. The company announced that the Boston Phoenix was being transformed into a glossy publication, but the bad news was the layoffs of five employees. Previously, the group sold of their loved WFNX radio station. The media group announced that the Providence Phoenix (as well as the Portland, Maine) would continue to be published.
The Providence-based start up media company that has launched GoLocalProv.com and GoLocalWorcester.com announced significant growth in pageviews in both markets. GoLocalProv.com has grown by more than 500% in the past 12 months. The recently launched GoLocalWorcester.com exceeded 1 million pageviews in July.
GoLocalProv.com in July of 2011 delivered over 447,000 pageviews. In July of 2012, the combined sites delivered more than 2.3 million pageviews.
Moreover, GoLocalWorcester.com, which launched in mid-February, exceeded 1.059 million pageviews in the month of July – a 100% increase in pageviews since the site’s initial launch month.