Radio Business Report
After spending last week at the NAB Show in Las Vegas, Wells Fargo Securities high-yield bond analyst Bishop Cheen and equities analyst Marci Ryvicker report that the mood was upbeat, despite ongoing and emerging challenges for broadcasters. Item one: “Ad media’s recovery is more than evident, it is surpassing expectations of just a few months ago.”
In a note to investors, the analysts note that Q2 pacings are up 20%-plus for TV and high single to low double digits for radio, due to easy year-over-year comps, plus resurging auto ad spending and robust political advertising.
“Heretofore anemic local is just beginning to catch up to national” More…