Mission Statement, Vision, & Core Values (2024) of Entravision Communications Corporation (EVC)

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An Overview of Entravision Communications Corporation (EVC)

General Summary of Entravision Communications Corporation

Entravision Communications Corporation (EVC) is a leading media and advertising technology company that primarily serves the U.S. Latino community. Founded in 1996, Entravision has grown through strategic acquisitions and partnerships, expanding its portfolio to include 49 television stations and 44 radio stations across the United States. The company operates in two main segments: media and advertising technology & services. As of 2024, Entravision's media segment focuses on broadcasting and digital advertising, while its advertising technology segment includes programmatic ad services through platforms like Smadex and Adwake.

For the nine-month period ended September 30, 2024, Entravision reported net revenue of $258.0 million, an increase from $218.8 million in the same period in 2023. This growth reflects the company's strong performance in both segments, particularly in advertising revenue.

Company's Financial Performance in the Latest Financial Reports

In the third quarter of 2024, Entravision generated net revenue of $97.2 million, compared to $77.4 million in the third quarter of 2023, representing a 25% increase. The revenue breakdown indicates that approximately 62% came from the media segment, while 38% was from the advertising technology & services segment. The company experienced significant growth in advertising revenue, driven by political advertising and the performance of its technology platforms.

Financial Metrics Q3 2024 Q3 2023 Change (%)
Net Revenue $97.2 million $77.4 million 25%
Media Segment Revenue $59.8 million $48.7 million 23%
Advertising Technology Revenue $37.4 million $28.7 million 30%
Cost of Revenue $26.8 million $21.4 million 25%
Direct Operating Expenses $35.6 million $28.7 million 24%
Net Income (Loss) $(11.98 million) $2.72 million

For the nine-month period ended September 30, 2024, the company recorded a net income attributable to common stockholders of $(92.55 million), compared to $2.77 million in the previous year. This loss was significantly influenced by non-cash items, including a $49.4 million impairment charge and a $45.1 million loss on the sale of the EGP business.

Introduction to Company as a Leader in the Industry

Entravision Communications Corporation is recognized as one of the leading companies in the media and advertising industry, particularly in serving the U.S. Latino demographic. The company has established strong partnerships, notably with TelevisaUnivision, which enhances its content offerings and advertising capabilities. Entravision's focus on digital transformation and programmatic advertising positions it well to adapt to changing market dynamics and consumer preferences.

As of September 30, 2024, Entravision's cash and cash equivalents stood at $90.3 million, with marketable securities amounting to $2.8 million. The company continues to explore growth opportunities while managing its operational costs effectively. The strategic realignment of its operations into two segments reflects its commitment to efficiency and market responsiveness.




Mission Statement of Entravision Communications Corporation (EVC)

Mission Statement of Entravision Communications Corporation (EVC)

Entravision Communications Corporation (EVC) is dedicated to connecting audiences with high-quality content that reflects their diverse cultural backgrounds. The mission statement emphasizes the commitment to delivering innovative media solutions while serving the Latino community in the United States and beyond. This mission is critical as it guides the company's strategic direction and operational decisions, ensuring alignment with core values and long-term objectives.

Core Component 1: Quality Content

The first component of Entravision's mission is the commitment to providing high-quality content. This is evident in their media operations, which include 49 primary television stations and 44 radio stations, primarily targeting U.S. Latinos. In the third quarter of 2024, net revenue from the media segment increased to $59.8 million, up from $48.7 million in the same period of 2023, primarily due to an increase in broadcast advertising revenue driven by political advertising.

Financial Metric Q3 2024 Q3 2023 Change (%)
Net Revenue (Media Segment) $59.8 million $48.7 million 22.8%
Broadcast Advertising Revenue Increase $9.2 million N/A N/A

Core Component 2: Innovation in Media Solutions

The second core component focuses on innovation in media solutions. Entravision has recently restructured its operations into two segments: media and advertising technology & services. This shift aims to enhance their digital advertising capabilities, evidenced by the advertising technology segment's revenue increase to $37.4 million for Q3 2024, up from $28.7 million in Q3 2023. The integration of programmatic ad services through platforms like Smadex reflects the company's commitment to leveraging technology in advertising.

Financial Metric Q3 2024 Q3 2023 Change (%)
Net Revenue (Advertising Technology Segment) $37.4 million $28.7 million 30.5%

Core Component 3: Community Engagement

The third essential component is community engagement. Entravision actively engages with the Latino community, addressing their unique needs through culturally relevant programming. This focus has led to a significant portion of revenue, about 62% from media operations, being generated from advertising that resonates with this demographic. The company’s strategic partnership with TelevisaUnivision further enhances their ability to serve this audience effectively, with retransmission consent revenue contributing approximately $8.0 million in Q3 2024.

Financial Metric Q3 2024 Q3 2023 Change (%)
Retransmission Consent Revenue $8.0 million $8.9 million -10.1%
Percentage of Total Revenue from Media Operations 62% N/A N/A



Vision Statement of Entravision Communications Corporation (EVC)

Vision Statement Overview

Entravision Communications Corporation (EVC) aims to be a leading media and advertising technology company that connects audiences with brands through innovative solutions. As of 2024, the company focuses on enhancing its reach and engagement within the U.S. Latino market while expanding its digital capabilities.

Focus on U.S. Latino Audiences

Entravision's vision emphasizes its commitment to U.S. Latino audiences, leveraging its extensive media reach. The company operates 49 primary television stations and 44 radio stations (37 FM and 7 AM), which collectively engage millions of viewers and listeners across the country.

Year Number of Television Stations Number of Radio Stations Audience Reach
2024 49 44 Millions

Innovation in Advertising Technology

The vision statement also highlights Entravision's emphasis on innovation within its advertising technology segment. The company has made significant investments in its programmatic ad services, particularly through Smadex, which is designed to optimize digital advertising campaigns.

For the nine-month period ended September 30, 2024, net revenue from the advertising technology & services segment reached $103.2 million, reflecting a strong growth trajectory as compared to $74.2 million during the same period in 2023.

Commitment to Growth and Expansion

Entravision is focused on strategic growth through acquisitions and operational improvements. The company expects to enhance its market position and expand its service offerings, particularly in digital and mobile advertising.

In 2024, Entravision's total net revenue increased to $258.0 million, up from $218.8 million in 2023, driven by both media and advertising technology segments. The company anticipates continued revenue growth, particularly in the digital advertising space.

Financial Performance Highlights

Entravision's financial performance reflects its strategic focus and operational realignment. Key financial metrics for 2024 include:

Metric 2024 2023 Change (%)
Net Revenue $258.0 million $218.8 million 18%
Advertising Revenue (Media Segment) $154.8 million $144.6 million 7%
Advertising Revenue (Tech Segment) $103.2 million $74.2 million 39%

Vision for Digital Transformation

Entravision's vision includes a strong commitment to digital transformation, recognizing the shift in consumer behavior towards digital media consumption. This includes adapting its content and advertising strategies to meet the evolving preferences of younger audiences.

The company is positioned to capitalize on this trend by enhancing its digital media offerings, which accounted for a notable increase in revenues in 2024.




Core Values of Entravision Communications Corporation (EVC)

Integrity

Integrity is a foundational value at Entravision Communications Corporation (EVC), emphasizing honesty and transparency in all business dealings. This commitment is crucial for building trust with clients, partners, and employees.

In 2024, EVC has demonstrated its integrity through various initiatives. The company has maintained transparent communication regarding its financial performance, reporting a net revenue of $97.2 million for the three-month period ending September 30, 2024, an increase of 25% compared to $77.4 million in the same period in 2023. Additionally, EVC has ensured compliance with regulatory requirements, further solidifying its reputation for ethical practices.

Innovation

Innovation is at the heart of EVC's strategy as it navigates the rapidly changing media landscape. The company has focused on enhancing its advertising technology segment, which includes Smadex and Adwake. In the three-month period ending September 30, 2024, revenue from the advertising technology & services segment increased to $37.4 million, up from $28.7 million in the same period in 2023.

Moreover, EVC's acquisition of BCNMonetize in May 2023, a mobile app marketing solutions company, exemplifies its commitment to innovation and expanding its service offerings. This acquisition is expected to enhance EVC's capabilities in digital marketing and drive future growth.

Diversity and Inclusion

Diversity and inclusion are core values that EVC actively promotes within its workforce. The company is dedicated to creating an inclusive environment where employees from various backgrounds can thrive. As of 2024, EVC has implemented training programs aimed at fostering an inclusive workplace culture.

In terms of representation, EVC's focus on serving U.S. Latinos is reflected in its media operations, owning and operating 49 television stations and 44 radio stations. This commitment not only enhances cultural representation but also broadens the company's audience reach.

Community Engagement

EVC places significant importance on community engagement, recognizing its role in supporting the communities it serves. The company has been involved in various initiatives aimed at uplifting local populations, particularly in areas with large Latino communities. This includes sponsoring events and providing resources to local organizations.

Financially, EVC's commitment to community engagement is evident in its advertising revenue, which includes substantial contributions from political advertising, reflecting its active participation in civic engagement.

Excellence

Excellence is a guiding principle at EVC, driving the company to deliver high-quality services and products consistently. This commitment is reflected in its operational performance, with a reported increase in direct operating expenses associated with expanding news programming in anticipation of the election cycle, highlighting the company's dedication to providing valuable content.

The company's focus on excellence is further underscored by its strategic realignment into two segments—media and advertising technology & services—allowing for more targeted and efficient operations.

Core Value Description Examples Financial Impact (2024)
Integrity Commitment to honesty and transparency Transparent financial reporting Net revenue: $97.2 million
Innovation Focus on enhancing technology and services Acquisition of BCNMonetize Ad tech revenue: $37.4 million
Diversity and Inclusion Promoting an inclusive workplace Training programs 49 TV stations and 44 radio stations
Community Engagement Supporting local communities Sponsorship of local events Political advertising revenue growth
Excellence Delivering high-quality services Expansion of news programming Increased operating expenses for quality content

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Resources:

  1. Entravision Communications Corporation (EVC) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Entravision Communications Corporation (EVC)' financial performance, including balance sheets, income statements, and cash flow statements.
  2. SEC Filings – View Entravision Communications Corporation (EVC)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.