Belo, which owns and operates 20 stations in 15 markets across the country, announced on Tuesday that it saw a 20% gain in total revenue for the fourth quarter of 2010, compared to the same period in 2009.
Much of Belo’s fourth quarter success can be attributed to a spike in political advertising.
“Fourth quarter’s near record political revenue of $35.7 million led the Company to a 22 percent increase in spot revenue and a 20 percent increase in total revenue for the fourth quarter, providing a strong finish to an outstanding year of revenue growth,” said Dunia Shive, Belo’s president and CEO, in making the announcement.
Overall, spot revenue was up 18% for the entire year, with local spot up 6.1% and national spot up 16%.
“We currently expect to see continued recovery in advertising as long as the economy does not experience an unanticipated setback. We expect spot revenue excluding political to grow in 2011, but at a more moderate rate than in 2010,” said Shive.