Hearst-Argyle Television (NYSE: HTV) reported that Q2 profits were down 32 percent to $17 million compared to $25 million for the same period last year. Total revenue was $193 million, essentially flat in comparison to Q206.
– On a positive note, digital revenue rose 48 percent to $5 million on double-digit gains in monthly unique visitors, visits and pageviews versus last year.
– Also during the quarter, HTV stations streamed 14.3 million videos, a 38 percent increase year-over-year. HTV stations are now operating mobile services in 12 markets. In June, 74,000 mobile visitors generated 419,000 pageviews on HTV mobile websites.
– Hearst-Argyle also struck a content and ad-sharing partnership with YouTube in Q2. The two have created partner channels in Boston, Manchester, Sacramento, Pittsburgh and Baltimore. In less than two months, more than 1.9 million video views were generated on its five partner sites alone. Additional YouTube launches are planned for Q3 and Q4.
– Ad revenues fell 3 percent, which was otherwise offset by the rise in digital media revenues. Overall ad revenues were driven downward by a cyclical decline in political ad spending. Net political revenue in Q2 was $4.9 million compared to $12.9 million and $2.3 million in Q206 and Q205, respectively. Earnings release | Webcast