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Friday, July 31, 2015

Cumulus Q2 Revenue Down 8%

Cumulus Q2 Revenue Down 8%
Jul 30th 2015, 20:19
Another big quarterly revenue drop for Cumulus, down $28.9 million for the second quarter, compared to 2014. Revenue dropped to $299.3 million from $328.2 million. More specifically, national revenue was down 17 percent while revenue across Cumulus stations was down 5 percent. Westwood One also had a tough quarter, down 17 percent. Cumulus CEO Lew Dickey says Q3 is pacing down 6 percent with national the biggest drag pacing down in the low double-digits. Westwood One is also pacing down 6 percent. Dickey said, "This has been a building year for us, to pull all these pieces together. These assets have helped us recruit top talent into the company that will help us compete moving forward."