Sinclair Sees Revenue Drop by Millions

Sinclair reported their 1st quarter earnings and it was not a pretty picture.

The company announced that its total revenue for the first quarter of 2023 decreased by 40%, falling from $1,288 million in the prior year period to $773 million.

Media revenues also dropped 40%, declining from $1,275 million in the same period a year ago to $766 million. Excluding Diamond Sports Group (DSG), Sinclair's total revenues fell 7% from $831 million in the prior year period, and media revenues decreased 6% from $818 million.

Total advertising revenues of $309 million decreased 17% compared to $371 million in the prior year period. Core advertising revenues, which excludes political revenues, were down 14% in the first quarter to $306 million versus $354 million in the prior year period. Excluding DSG, total advertising revenues decreased 6% from $328 million in the prior year period, while core advertising revenues decreased 2% from $311 million in the prior year period.

Instead of committing to doing better journalism, in which could bring in more and higher paying advertisers, Sinclair is running around the country putting newscasts out of business, and good people out of work.

Then when their retransmission agreements come up, they will ask cable providers to pay more money per subscriber, despite the fact that they aren’t offering the viewers a local newscast.

Just saying…