Nexstar Media Group Reports Record Fourth Quarter Net Revenue of $1,377 Million
Nexstar Media Group (NASDAQ: NXST) announced its fourth-quarter financial results for 2020, showcasing a 25.1% increase in net revenue, reaching $1.38 billion. Core advertising revenue saw a 9.9% decline, totaling $473.5 million, while political advertising surged by 716.6% to $298.3 million. Total television advertising revenue rose 37.3%, driven by strong political ad sales. Distribution fee revenue grew 18.4% to $528 million, but digital revenue fell 12.5%.
The results reflect Nexstar's continued integration of Tribune Media stations.
- Net revenue increased by 25.1% to $1.38 billion.
- Political advertising revenue rose by 716.6%, reaching $298.3 million.
- Total television advertising revenue increased by 37.3% to $771.8 million.
- Distribution fee revenue rose by 18.4% to $528 million.
- Core advertising revenue decreased by 9.9% to $473.5 million.
- Digital revenue fell by 12.5% to $65 million.
- Other revenue declined by 34.3%.
Nexstar Media Group, Inc. (NASDAQ: NXST) (“Nexstar”) today reported financial results for the fourth quarter ended December 31, 2020 as summarized below. The actual results presented herein for the three months ended December 31, 2020 and 2019 reflect the full operations of both the Nexstar’s legacy broadcasting and digital operations and quarterly results from the Tribune Media stations which were acquired on September 19, 2019. Fourth quarter 2020 revenue from WGN America, also acquired in the Tribune transaction, is included in core advertising revenue and distribution fee revenue. The contribution from Nexstar’s
Summary 2020 Fourth Quarter Results and Full Year Highlights |
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Three Months Ended December 31, |
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Years Ended December 31, |
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($ in thousands) |
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2020 |
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2019 |
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Change |
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2020 |
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2019 |
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Change |
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Core Advertising Revenue |
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$ |
473,524 |
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$ |
525,458 |
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(9.9 |
)% |
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$ |
1,571,072 |
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$ |
1,335,126 |
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+17.7 |
% |
Political Advertising Revenue |
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$ |
298,270 |
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$ |
36,526 |
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+716.6 |
% |
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$ |
507,564 |
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$ |
51,889 |
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+878.2 |
% |
Total Television Advertising Revenue |
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$ |
771,794 |
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$ |
561,984 |
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+37.3 |
% |
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$ |
2,078,636 |
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$ |
1,387,015 |
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+49.9 |
% |
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Distribution Fee Revenue |
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$ |
527,986 |
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$ |
445,831 |
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+18.4 |
% |
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$ |
2,152,622 |
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$ |
1,368,881 |
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+57.3 |
% |
Digital Revenue |
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$ |
65,036 |
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$ |
74,310 |
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(12.5 |
)% |
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$ |
223,368 |
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$ |
241,519 |
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(7.5 |
)% |
Other Revenue |
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$ |
11,795 |
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$ |
17,965 |
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(34.3 |
)% |
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$ |
46,643 |
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$ |
41,909 |
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+11.3 |
% |
Net Revenue |
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$ |
1,376,611 |
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$ |
1,100,090 |
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+25.1 |
% |
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$ |
4,501,269 |
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$ |
3,039,324 |
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+48.1 |
% |
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Income from Operations |
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$ |
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FAQ
What were Nexstar Media Group's fourth-quarter results for 2020?
Nexstar reported a 25.1% increase in net revenue, totaling $1.38 billion, with significant growth in political advertising.
How did Nexstar's core advertising revenue perform in Q4 2020?
Core advertising revenue decreased by 9.9% to $473.5 million compared to Q4 2019.
What was the impact of political advertising on Nexstar's revenue?
Political advertising revenue surged by 716.6% to $298.3 million in Q4 2020.
How much did Nexstar's distribution fee revenue grow in Q4 2020?
Distribution fee revenue increased by 18.4% to $528 million.
What challenges did Nexstar face in its digital revenue in Q4 2020?
Digital revenue fell by 12.5% to $65 million year-over-year.
Nexstar Media Group, Inc.
NASDAQ:NXSTNXST RankingsNXST Latest NewsNXST Stock Data
4.98B
29.06M
6.22%
96.38%
5.93%
Broadcasting
Television Broadcasting Stations
United States of America
IRVING
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