Only in a pandemic could a business have bounding optimism after losing a fifth of its revenue in one year. That's radio in 2021 as companies dug themselves out of a deep second-quarter hole caused by store closures and stay-at-home orders across the country.
The upward trajectory makes sense: just as radio companies quickly took a hit when the economy sank in March, they have benefitted from economic expansion. At Cumulus, 2020 revenue fell 26.7% but fourth quarter revenue was down 13.9% year over year. Entercom's revenue fell 19% in the fourth quarter, slightly better than the 22.8% annual decline.
in the company's Thursday earnings call. Despite the upswing from a miserable second quarter,"we're not out of the pandemic woods yet," she said.As Texas Freezes, Radio Scrambles to Stay On Air & Pivot From Music to Emergency Programming At iHeartMedia, 99.8% growth in podcasting revenue helped digital revenue improve 53% in the fourth quarter. Cumulus' 12% growth in digital sales was"led by podcasting growth of nearly 40%" in 2020, said Berner. Its stable of podcasters -- including political commentators Ben Shapiro and Mark Levin, both in Apple's top 10 podcasts in January -- have Cumulus' podcast revenue"pacing up nearly 30%" in the first quarter of 2021, she said.
That's sad, but as a nation we still have to continue to SUPPORT all the radio stations because MUSIC is the REALXATION of the SOUL!!!!! Music helps me relax, how about you!!🙂🙂🙂🙂🙂
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