Belo today reported a 3% increase in total revenue for the first quarter of 2012, compared to the same period last year.
The Dallas-based company, which owns 20 stations across the country, generated $156 million during the first the months of this year.
Belo’s political revenue in the first quarter was up significantly. The company’s Q1 political revenue totaled $1.6 million, a $1.2 million increase compared to 2011.
Excluding political revenue, total spot revenue was up 1%, with a 4% increase in local and a 5% decrease in national. Belo attributes the growth in spot revenue to an increase in automotive and retail advertising.
“Growth in core spot revenue and double-digit growth in both retransmission revenue and Internet advertising contributed to a 3 percent total revenue increase in the first quarter of 2012 compared to the first quarter of 2011,” summarized Dunia Shive, Belo’s president and CEO. “While political revenue was higher than the prior year, we did not receive meaningful political dollars in the first quarter due to the Texas primary moving to the second quarter.”