Fellow investors,
Here's a breakdown of Gray Television's $GTN (Gray Television Inc) revenue for Q4 2023 and the full year 2023:
𝗤𝟰 𝟮𝟬𝟮𝟯:
* *Total revenue: $864 million (down 19% year-over-year from $1.072 billion)
𝗯𝗿𝗲𝗮𝗸𝗱𝗼𝘄𝗻
* *Local advertising: $520 million (down 16% year-over-year)
* *National advertising: $153 million (down 36% year-over-year)
* *Retransmission consent: $160 million (up 8% year-over-year)
* *Other: $31 million (down 19% year-over-year)
𝗙𝘂𝗹𝗹 𝗬𝗲𝗮𝗿 𝟮𝟬𝟮𝟯:
**Total revenue: $3.48 billion (up 28% year-over-year from $2.72 billion)
𝗯𝗿𝗲𝗮𝗸𝗱𝗼𝘄𝗻:
* *Local advertising: $2.1 billion (up 29% year-over-year)
* *National advertising: $591 million (up 8% year-over-year)
* *Retransmission consent: $645 million (up 10% year-over-year)
* *Other: $144 million (up 22% year-over-year)
𝗞𝗲𝘆 𝗢𝗯𝘀𝗲𝗿𝘃𝗮𝘁𝗶𝗼𝗻𝘀:
* *Overall revenue grew year-over-year for the full year 2023, driven by acquisitions and retransmission consent fees.
* *However, Q4 2023 saw a significant decline in total revenue, mainly due to weakness in both local and national advertising.
* *Local advertising, the company's largest revenue source, experienced a drop in both quarters, reflecting a challenging economic environment and potential shift in advertising budgets.
* *National advertising also declined, highlighting broader industry challenges in this segment.*
* *Retransmission consent fees continued to grow, providing some stability and counterbalancing the decline in advertising revenue.
𝙋.𝙎. 𝙏𝙝𝙚 𝙘𝙤𝙢𝙥𝙖𝙣𝙮’𝙨 𝙨𝙩𝙤𝙘𝙠 𝙥𝙧𝙞𝙘𝙚 𝙞𝙨 𝙙𝙧𝙤𝙥𝙥𝙞𝙣𝙜 𝙙𝙪𝙚 𝙩𝙤 𝙩𝙝𝙚 𝙘𝙤𝙢𝙥𝙖𝙣𝙮’𝙨 𝙝𝙞𝙜𝙝 𝙡𝙚𝙫𝙚𝙡𝙨 𝙤𝙛 𝙙𝙚𝙗𝙩. 𝙄𝙛 𝙮𝙤𝙪 𝙬𝙤𝙪𝙡𝙙 𝙡𝙞𝙠𝙚 𝙢𝙚 𝙩𝙤 𝙥𝙧𝙤𝙫𝙞𝙙𝙚 𝙢𝙤𝙧𝙚 𝙘𝙤𝙡𝙤𝙪𝙧 𝙤𝙣 𝙩𝙝𝙚 𝙂𝙧𝙖𝙮’𝙨 𝙙𝙚𝙗𝙩 𝙡𝙚𝙫𝙚𝙡𝙨 𝙙𝙤 𝙡𝙚𝙩 𝙢𝙚 𝙠𝙣𝙤𝙬 𝙞𝙣 𝙩𝙝𝙚 𝙘𝙤𝙢𝙢𝙚𝙣𝙩𝙨 𝙗𝙚𝙡𝙤𝙬
𝗣.𝗦. 𝗙𝗼𝗹𝗹𝗼𝘄 𝗳𝗼𝗿 𝗺𝗼𝗿𝗲 𝘂𝗽𝗱𝗮𝘁𝗲𝘀!
𝗣.𝗦.𝗦. 𝗙𝗶𝗻𝗱 𝗺𝗲 𝗼𝗻 𝗫 ( 𝗧𝘄𝗶𝘁𝘁𝗲𝗿 ) : 𝗴𝗲𝗿𝗼𝗴𝗲𝗰𝗵𝟴𝟵
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