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NYC's "Kiss" improved, and Emmis' last-quarter revenues improved 6%
From today's TRI Newsletter: Three months ago, Emmis was reporting that the revenue performance at New York’s urban AC “Kiss 98.7” WRKS was causing the cluster to under-perform the market, as reported by Miller Kaplan. Now with the full-year report just filed at the SEC, Emmis says Los Angeles and Chicago were “disappointing” – same as three months ago – but it no longer mentions New York. That sounds like good news out of “Kiss” and the New York market. The Emmis fiscal year runs through February and this latest yearly filing doesn’t break out the fourth quarter. But comparing the 9 months’ data with the full-year results produces some insights. Radio revenue for December-January-February appears to be about $41.2 million (subtracting $144 million from $185.2 million). The revenue gain for fiscal Q4 works out to be about 6%. That's because it was 3.7% for the first nine months of the year, but improved to 4.3% for all 12 months. Expect the formal Q4 results from Emmis shortly.
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