January and February were good months for Entercom Communications. After the first two months of the first quarter of 2020, net revenue was up 7%. Then the novel coronavirus landed in North America, and devastated business after business across the U.S. and Canada.
Entercom was no exception. March was devastating, leading to a 4% Q1 dip, the company reported just prior to Thursday’s Opening Bell on the NYSE.
The revenue dip resulted in a big swing to a net loss for the owner of Radio.com, podcast players Cadence13 and Pineapple Street, and AM and FM radio stations in some of the nation’s largest markets.