11-1-14
Cumulus' net revenues for July, August and September were $313.9 million compared to $314 million in 2013. Broadcast advertising revenue decreased by $12.5 million. Cumulus executives say that decrease was due to "ongoing weakness in several large local markets that began in the second quarter of 2014 (see next story). Local revenue was down 3.2%, national was up 2.8% and network revenue was flat. Q4 is pacing up for Cumulus with national pacing up double digits and local up in the low single digits. 2014 Political revenue should come in at about $19 million for Cumulus. The strongest categories were auto parts and auto after market. Weak categories included retail and financial services.
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