Thanks to a flourishing global digital business, fourth quarter 2021 revenue at Entravision Communications sailed to a new company record, up 36% year-over-year to $233.9 million. Fueled by recent acquisitions of companies that do business in Latin America, Southeast Asia and South Africa, digital now accounts for three of every four dollars booked by Entravision or 73% of total revenues.
Digital billings shot up 69% year-over-year during the quarter to $177.5 million from $104.9 million one year earlier. TV revenues fell 20% to $40.2 million while the audio division was flat at $16.1 million. Entravision owns more than 40 radio stations located in California, Nevada, Arizona, Colorado, New Mexico, Texas and Florida.
Fourth quarter earnings grew 1% to $32.9 million from $32.6 million in the comparable 2020 quarter.
Chairman and CEO Walter Ulloa called 2021 “a transformational year” for the company, attributing the bulk of the growth to the expansion of its digital business.
Entravision acquired the remaining 49% of Cisneros Interactive that it didn’t already control in August 2021, making it a wholly-owned unit of the company and expanding its reach in Latin America. A month earlier Entravision purchased MediaDonuts, thus entering the Southeast Asia market. In October 2021, the company acquired 365 Digital, a digital marketing solutions agency in South Africa.
While digital has propelled Entravision to record revenue growth and free cash flow, Ulloa noted that core television and audio also contributed to the Hispanic media company’s overall strength “as we maintained our exceptional talent, programming and ratings.”
Ulloa also called out “great advancements in profitability” with full year 2021 earnings soaring 46% year-over-year to $88.0 million.
Through a combination of strategic acquisitions and organic growth, Ulloa said Entravision has transformed itself into “a leading global advertising solutions, media and technology company” with more than 3,000 clients each month in over 30 countries. “We connect brands and advertisers with consumers in primarily emerging growth markets around the world and are excited about this enormous opportunity,” Ulloa said. “I believe we have a talented, experienced and energetic team of professionals around the world with the expertise and resources to continue to grow Entravision’s business into the future."