Cumulus Revenues Jump 5.7% in Q2

Cumulus reported that second-quarter revenues were up 5.7%, to $69.8 million, with broadcast revenue up 5.8% to $68.8 million.

Net income was down in the quarter, to $12.3 million, from $14.1 million. The revenue gain came mainly from national accounts, political, and internet-related revenue.

Political Spending to Drive Second Half

For the second half of the year, ad revenue will be primarily driven by political spending, the company believes.

Q1 Radio Sees Gains

The radio ad industry is on the mend following three years of negative growth. The first quarter of 2010 saw radio ad revenue grow 6%, to $3.7 billion - the best quarterly growth in nearly a decade, according to the Radio Advertising Bureau.

National spending jumped 19% to $568 million, while local spending rose 2%, to $2.5 billion, in Q1. Digital revenue (which includes websites, streaming and HD Radio) rose 18% to $123 million, while network revenue rose 6% to $260 million. Off-air revenue was flat, at $268 million.