Cable companies completed a rock-solid Q2 on the advertising front, recording an 11% year-over-year revenue gain on the strength of rising political revenues and a relatively healthy local TV sector in general.
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Our compilation of Q2 earnings from the six large, publicly traded U.S. operators shows annual revenue increases from advertising from 7.5% (Cablevision Systems Corp.) to 17.8% (Time Warner Cable). Backing out revenue contributions from the former Insight Communications, which TWC acquired, the company's ad revenue improvement still amounted to an impressive 12.9%.
But with that in mind, the largest annual revenue increase came from Charter Communications, which reported advertising revenue rose 14.5%, to $87 million.
For the latest quarter, advertising represented 5.1% of total revenue from cable operations, with the contribution ranging from 4.2% (Mediacom Communications) to 5.6% (Comcast).
Cable companies should see strong gains again in Q3 as candidates, Super PACS and advocacy groups pound away with television advertising leading up to the November elections.
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