Entravision Communications Corporation (EVC): Marketing Mix Analysis [11-2024 Updated]
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Entravision Communications Corporation (EVC) Bundle
In 2024, Entravision Communications Corporation (EVC) continues to make waves in the media landscape with its dynamic marketing mix. With a strong focus on the U.S. Latino audience, EVC's offerings span across television, radio, and digital platforms, delivering targeted advertising solutions. Their innovative strategies in promotion and competitive pricing have positioned them as a key player in both local and national markets. Explore how EVC's unique blend of product, place, promotion, and price is shaping their growth and success in the ever-evolving media industry.
Entravision Communications Corporation (EVC) - Marketing Mix: Product
Media Segment
The media segment of Entravision Communications Corporation includes advertising through television, radio, and digital platforms. As of September 30, 2024, the company operates 49 television stations and 44 radio stations (37 FM and 7 AM), primarily targeting U.S. Latino audiences.
Advertising Technology & Services Segment
Entravision's advertising technology and services segment encompasses two primary offerings: Smadex, a programmatic ad platform, and Adwake, which provides mobile growth solutions. For the three-month period ended September 30, 2024, net revenue from this segment was $37.4 million, up from $28.7 million in the same period of 2023, reflecting a growth of approximately 30%.
Revenue Growth
Overall revenue from broadcast advertising increased notably due to a surge in political advertising and digital revenue. For the three-month period ending September 30, 2024, total net revenue reached $97.2 million, a 25% increase from $77.4 million for the same period in 2023. Specifically, revenue from the media segment accounted for approximately 62% of the total revenue, while the advertising technology and services segment contributed around 38%.
Retransmission Consent Agreements
Entravision also offers retransmission consent agreements for TV signals to multichannel video programming distributors (MVPDs). These agreements are crucial as they allow MVPDs to rebroadcast Entravision's TV station signals. Revenue from retransmission consent agreements totaled $26.0 million for the nine-month period ended September 30, 2024, compared to $27.9 million for the same period in 2023.
| Segment | Net Revenue (3 Months Ended Sept 30, 2024) | Net Revenue (3 Months Ended Sept 30, 2023) | Change (%) |
|---|---|---|---|
| Media | $59.8 million | $48.7 million | 23% |
| Advertising Technology & Services | $37.4 million | $28.7 million | 30% |
| Total | $97.2 million | $77.4 million | 25% |
Conclusion on Product Offerings
Entravision's diverse product offerings in the media and advertising technology segments are strategically aligned to cater to the needs of U.S. Latino audiences. Through effective advertising solutions and robust retransmission agreements, the company continues to enhance its value proposition in the competitive media landscape.
Entravision Communications Corporation (EVC) - Marketing Mix: Place
Primarily operates in the United States with a focus on local markets
Entravision Communications Corporation primarily operates in the United States, focusing on local markets that cater to the U.S. Latino community. The company owns and/or operates 49 primary television stations and 44 radio stations (37 FM and 7 AM).
Generates revenue both locally and nationally, with local direct and agency sales
Revenue generation includes local direct sales and agency sales. For the three-month period ended September 30, 2024, revenue from local direct sales totaled $5.0 million, while local agency sales accounted for $13.4 million. National agency revenue was significantly higher at $21.6 million during the same period.
Engages with audiences through a combination of traditional and digital media channels
Entravision engages its audience through both traditional media (television and radio) and digital platforms. Digital advertising revenue for the three-month period ended September 30, 2024, was reported at $45.9 million, an increase from $34.5 million in the same period of 2023.
International operations account for approximately 24% of revenue, expanding reach outside the U.S.
International operations contribute approximately 24% of Entravision's total revenue, indicating a strategic expansion beyond the U.S. market. For the three-month period ended September 30, 2024, the company generated $23.2 million from international markets.
Collaborates with TelevisaUnivision for programming and advertising sales in specific markets
Entravision maintains a strategic partnership with TelevisaUnivision, which allows it to broadcast Univision and UniMás programming across its owned stations. The company generates revenue through marketing and sales agreements that provide rights to manage advertising sales for TelevisaUnivision-owned affiliates in Albuquerque, Boston, and Denver.
| Revenue Source | Three-Month Period Ended September 30, 2024 (in thousands) | Three-Month Period Ended September 30, 2023 (in thousands) |
|---|---|---|
| Local Direct | $5,042 | $5,485 |
| Local Agency | $13,387 | $13,946 |
| National Agency | $21,569 | $11,360 |
| Total Revenue | $39,998 | $30,791 |
| Region | Revenue (in thousands) |
|---|---|
| United States | $73,939 |
| Rest of the World | $23,217 |
Entravision Communications Corporation (EVC) - Marketing Mix: Promotion
Utilizes a mix of traditional advertising and digital marketing strategies
Entravision Communications Corporation employs a strategic combination of traditional and digital advertising to engage its target audience. For the three-month period ended September 30, 2024, Entravision reported total revenue of $97.2 million, with approximately 62% generated from its media segment and 38% from its advertising technology and services segment.
Political advertising has become a significant driver of revenue in 2024
Political advertising has emerged as a crucial revenue stream for Entravision in 2024, significantly impacting its financial performance. The media segment's revenue rose to $59.8 million for the three-month period ended September 30, 2024, an increase from $48.7 million in the same period in 2023, largely attributable to political advertising.
Engages audiences through community-focused news programming
Entravision enhances audience engagement through community-focused news programming. The company operates 49 primary television stations and 44 radio stations, primarily targeting U.S. Latinos. This localized approach contributes to its advertising revenue, which saw an increase of $11.1 million from the media segment between September 2023 and September 2024.
Leverages relationships with advertising agencies for broader market reach
Entravision leverages its relationships with advertising agencies to expand its market reach. During the nine-month period ended September 30, 2024, the company generated $43.1 million from national agency advertising revenue, a notable increase from $34.6 million in the previous year.
Employs performance-based advertising strategies to attract digital advertisers
In response to the evolving advertising landscape, Entravision has adopted performance-based advertising strategies to attract digital advertisers. The advertising technology and services segment reported net revenue of $37.4 million for the three-month period ended September 30, 2024, compared to $28.7 million in the same period in 2023, driven by its Smadex platform.
| Revenue Source | Three-Month Period Ended September 30, 2024 (in thousands) | Three-Month Period Ended September 30, 2023 (in thousands) | Change (%) |
|---|---|---|---|
| Total Revenue | $97,156 | $77,420 | 25% |
| Media Segment Revenue | $59,802 | $48,746 | 23% |
| Advertising Technology & Services Revenue | $37,354 | $28,674 | 30% |
| Advertising Revenue Breakdown | Three-Month Period Ended September 30, 2024 (in thousands) | Three-Month Period Ended September 30, 2023 (in thousands) |
|---|---|---|
| Digital Advertising | $45,871 | $34,491 |
| Broadcast Advertising | $39,998 | $30,791 |
| Retransmission Consent Revenue | $8,031 | $8,925 |
Entravision Communications Corporation (EVC) - Marketing Mix: Price
Pricing Strategy
The pricing strategy of Entravision Communications Corporation (EVC) includes competitive rates for local and national advertising. For the three-month period ended September 30, 2024, net revenue was $97.2 million, with local advertising generating approximately $39.998 million.
Revenue Model
EVC's revenue model is primarily based on commissions from advertising sales and retransmission consent fees. For the nine-month period ended September 30, 2024, the total net revenue was $258.0 million, up from $218.8 million in the same period in 2023.
Flexible Payment Terms
Entravision offers flexible payment terms, typically requiring payment 30 days post-invoicing. This policy helps maintain cash flow while accommodating various client payment capabilities.
Digital Advertising Pricing
Digital advertising pricing is influenced by performance metrics and programmatic buying. For the three-month period ended September 30, 2024, digital advertising revenue reached $45.9 million, compared to $34.5 million in the same period in 2023.
Market Demand Adjustments
Entravision adjusts its prices based on market demand and economic conditions, particularly during election cycles. The company has noted a significant increase in political advertising revenue, which contributed to the growth in overall advertising revenue.
| Period | Net Revenue (in thousands) | Digital Advertising Revenue (in thousands) | Local Advertising Revenue (in thousands) | Political Advertising Revenue Growth (%) |
|---|---|---|---|---|
| Q3 2024 | $97,156 | $45,871 | $39,998 | Double digits |
| Q3 2023 | $77,420 | $34,491 | $30,791 | N/A |
| 9M 2024 | $258,000 | $125,161 | $97,692 | N/A |
| 9M 2023 | $218,787 | $89,848 | $91,401 | N/A |
In conclusion, Entravision Communications Corporation (EVC) effectively leverages its diverse product offerings across television, radio, and digital platforms to engage the U.S. Latino audience. With a strong focus on local markets and strategic partnerships, the company enhances its place in the competitive media landscape. The emphasis on community-driven programming and a robust digital presence showcases innovative promotion strategies, while a flexible pricing model ensures adaptability to market dynamics. Overall, EVC's marketing mix positions it well for sustained growth and success in 2024 and beyond.
Updated on 16 Nov 2024
Resources:
- 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.
- 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.