Jim Boyle
Resurgent is hardly the right word, just as uptick doesn’t really work. But data from Gilford Securities analyst Jim Boyle suggests that radio had a lesser downtick during the month of September, given 2009 economic realities. Boyle was thinking specifically of Entercom when putting together his report, but obviously this is good news for anybody in the radio business.
Radio revenues, it seems, were only down -14% in September, after spending most of the year in the minus twenties.
Boyle suggests that in a climate in which advertisers remain highly skittish, radio’s cost advantages, along with its offer of short schedule durations, is working in its favor and improving its results quicker than expected. And he suspects Entercom is particularly well-positioned to take advantage.
Without mentioning any specific names, Boyle noted David Fields’ prediction of double digit gains in 2010. While not willing to go that far, Boyle did suggest that mid-single digits gains no longer seem like a wildly optimistic prediction.
RBR-TVBR observation: It’s hard to believe that a number with a minus in front of it and teen coming after can be taken as good news, but such is the revenue story this year. We just wonder what kind of cushy comps it’s going to take to get out the black inkwell.
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