Emmis has performed its canary in the coal mine duties, reporting a nice if not spectacular gain during its latest quarter, and Wells Fargo analyst thinks most of the companies will be saying about the same in the weeks ahead. But looking ahead – that’s another matter.
Ryvicker said that Q3 results were “generally healthy” across the board, with the board comprised of TV, radio and outdoor. But predictions for what for most companies will be the fourth quarter are cautious.
The least uncertain area is television, Ryvicker reports. It’s picking up income off the political battle over the Affordable Care Act, with health care and auto spending holding up nicely.
As long as the debt ceiling is raised, Ryvicker believes that local spending will be just fine overall.
The ongoing shenanigans over the continuing resolution which resulted in the government shutdown and the uncertainty that remains over the debt ceiling are said so far to have had minimal effect on local – according to one or more broadcast execs, “it’s always something” in Washington, so for now local advertisers are persevering and spending their money in the face of the uncertainty.
On the radio side, there seems to be little or no visibility, but there is the lack of some of the built in advantages that will lift the television side.
Outdoor is said to holding its own in a difficult environment and is looking forward to modest gains.