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Clear Channel Communications Inc.’s “Less is More” strategy aimed at cutting back commercial air time has boosted pricing and ratings. This translates into radio revenues that outpace the industry, leading to higher profits for the number one radio operator - which earned a 14 cents-per-share profit versus the industry’s 13 cents - writes Reuters.
The strategy - which began in Q1 of 2005 - reduced radio revenue seven percent during the first quarter last year, but the first quarter this year posted a five percent increase. The company posted a first quarter profit of $96.8 million, or 19 cents per share, which exceeds the $47.9 million, or 9 cents, it reported for Q1 in 2005.
According to Clear Channel officials, advertisers have embraced shorter ads, while early second-quarter radio revenue indicators predict a 3.4 percent increase over 2005.
By the end of 2008, revenue growth in the radio industry is expected to have fallen 7%, the second year of negative growth for the medium, according to estimates in a report from from BIA Advisory Services, writes MarketingCharts.
BIA estimates that…
Next in the long list of companies cutting jobs comes Tribune Co., which is slicing positions at The Chicago Tribune.
About 12 employees at the Trib were given the rest of the week to clean out their desks; more cuts…
Target is one of the first brands to create an iPhone application. The Target “gift globe” allows iPhone users to shake their phones to launch a snow-fall effect.
When the snow clears, a gift idea from Target is revealed. Users…
NBCU is launching its latest round of layoffs, with up to 500 jobs, or 3% of its work force, expected to be cut.
NBC News bureaus in Dallas and Los Angeles will be affected, writes TV Newser. L.A. correspondent John Larson,…
A Specific Media study finds the presence of display advertising significantly affects click-through and search style across both paid and organic searches.
In the “travel and tourism” category, display advertising engendered a 274% lift on both paid and organic search.…
Today’s Wall Street Journal is running a cover wrap for Dell. The ad covers a third of the front page and all of the back.
Though the New York Post and the Daily News commonly use cover wraps, the move…
