From 345 Hudson Street in lower Manhattan, Entercom Communications‘ radio stations serving the nation’s largest market pump out a variety of news, music, information and entertainment. The stations include spoken word siblings WINS-AM and WCBS-AM, and legendary Classic Hits WCBS-FM, home of morning host Scott Shannon. There is also a resurgent Country WNSH-FM, increasingly influential Alternative WNYL-FM, and the last remaining Hot Adult Contemporary music source based in New York City, WNEW-FM.
But, the cluster is also home to Sports WFAN-AM, a high-profile property with no live sports to bank on.
Walk 30 minutes to the south and you’ll reach the corner of Wall and Broad Streets, and the New York Stock Exchange. Here, Entercom stock is publicly traded and under more scrutiny than ever, given its high profile brands in New York and other key markets across the U.S.
As such, Entercom’s quarterly earnings results are likely among the most analyzed by the Street and by media buyers and planners considering the company’s broadcast and digital assets. In Q1, it was clear that Entercom’s online assets are winners. The AMs and FMs are the challenge. For one analyst, whether Entercom — and Radio — can fully come back following the COVID-19 pandemic was a question President/CEO David Field was happy to answer. Another broker query, focused on April financial results, wasn’t so pleasantly received.