With format flips in three top markets before the clock struck 10am Pacific, Entercom has swiftly made its mark in cities where it is picking up radio stations from CBS Radio.
Entercom President/CEO David Field can barely control his excitement, and he’s literally welcomed all former CBS Radio employees with open arms — as seen in a four-minute video distributed Friday morning across the company.
Meanwhile, three new business practices are now in place at Entercom that “better reflect radio’s strong value.” This includes lower ad inventory.
RBR+TVBR OBSERVATION (full text below, for Members Only): He’s a lover … and a fighter. “We’re building something very special here,” says Field in his four-minute video welcome to former CBS Radio employees. Indeed, Field is building something amazing at the new Entercom. He’s also fully emerged as the gutsy charismatic leader this industry has needed on Madison Avenue and Wall Street.
In the video, Field identifies himself before officially welcoming staff to “the new Entercom.”
He continues, “You are joining the Entercom team at a wonderful time. Never before have the opportunities been greater, or more exciting.”
As a result of the CBS Radio merger, Field describes Entercom as “a leading American media and entertainment company and one of the top two radio broadcasters in the country.”
This was coupled with a boast that Entercom is now the No. 1 creator of live, original local audio content in the U.S. — “and we are also the nation’s unrivaled leader in news and sports,” offering “great integrated marketing solutions to our customers.”
The CBS Radio staffers are joining a team numbering more than 4,500, Field notes, “that are passionate about our brands and working to deliver consistently great radio and events and experiences to our listeners.”
LOCAL FOCUS, NATIONAL LEADER
Field’s commitment to radio’s inherently local nature was reiterated in his video welcome message to former CBS Radio employees.
He notes, “We believe radio’s greatness is rooted in the power of its local brands and personalities, and we are proud to have the industry’s strongest lineup of great local content.”
And, while Entercom competes in “many businesses,” Field states, “Radio is our core, and I am very pleased to report that radio’s competitive position has never been stronger.”
Field ends the video by noting that radio “is the most undervalued medium in the country, delivering truly outstanding ROI to our customers.”
A TRIO OF NEW POSITIVE POLICIES
Following the flips of WJMK-FM in Chicago to Classic Hip-Hop and both KVIL-FM in Dallas and WBMP-FM in Dallas to Alternative, Entercom announced that it will implement three new business policies “which better reflect radio’s strong value proposition as America’s No. 1 reach medium and Entercom’s position as the leading provider of live, original, local audio content.”
These policies, Entercom said, will also enable it “to provide greater value for advertisers while improving the listener experience.”
The plans include reducing commercial ad inventory by 5%. This, Entercom says, will “improve the listener experience and increase the entertainment to ad ratio for Entercom’s advertising partners.”
Additionally, Entercom will prohibit cash infusion advertising deals that the company views “as a poor business practice and inconsistent with its strategic goals.”
Furthermore, Entercom is committed to eliminating future sales of advertising with spot resellers, “which like cash infusion deals, the company views as a poor business practice and inconsistent with its strategic goals.”
RBR+TVBR OBSERVATION: He’s a lover … and a fighter. “We’re building something very special here,” says Field in his four-minute video welcome to former CBS Radio employees. Indeed, Field is building something amazing at the new Entercom. He’s also fully emerged as the gutsy charismatic leader this industry has needed on Madison Avenue and Wall Street. From an extremely smart format change in Chicago hours after gaining control of CBS Radio’s stations, to a big commitment to Alternative in Dallas and New York, Field has hit the ground running. We went back and watched his 2017 Radio Show speech from Austin. It should be shown to every media buyer and planner in America. Radio works. We know it, but the message has been muddled and clouded by a more powerful — and, sorry RAB — more dynamic PR campaign powered by digital and social media. Now, we have the voice that can propel radio beyond the muck it’s been stuck in for a decade and truly get what it deserves from marketers. We can’t wait to see what else comes from this Field of Gold.