SBS reports major gains in revenue and listenership amid the coronavirus pandemic
“We have 35 years of market knowledge and are able to surgically program to the multiple Latino communities,” says Alarcón, photographed July 13 at his home in Coral Gables. “We stay ahead of the trends. Sometimes we’re caught by surprise, but not often.”
“Our radio segment net revenue increased 15% due to increases in local, special events, network, and digital which were partially offset by a decrease in national sales,” said Alarcón. “Our television segment net revenue increased 31%, due to the increase in local sales which were partially offset by decreases in national sales. Consolidated net revenue excluding political, a non-GAAP measure, totaled $45.8 million compared to $36.
The company’s live entertainment division is known for its massive concerts, including Calibash in Los Angeles and Las Vegas. But SBS’ biggest musical clout lies in its radio network. SBS’ surge coincides with a new Nielsen report that found that 83% of consumers say they’re listening to “as much or more radio than before.”
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