After reporting Q1 results that were up a bit, Wall Street analysts are now focused on pacings for Clear Channel’s radio and outdoor businesses going forward. The company did provide some guidance.
For Clear Channel Media + Entertainment, the radio division under parent CC Media Holdings, Q1 revenues were up 1% after backing out the impact of acquiring Metro Traffic. But CRT Capital analyst Lance Vitanza noted that pacings for Q1 had been stronger than that when the company reported its Q4 results.
In this exchange with CC Media CFO Tom Casey (pictured), Vitanza wanted to know about the impact of political advertising and whether to expect actual performance to be weaker than early pacings this year.[audio:Tom-Casey-050412.mp3|titles=Tom Casey & Lance Vitanza]
As things stand now, radio is pacing up 2% in Q2. For the billboard business, US outdoor is up 1%, but international is down 1%.