10-10-13.
While the majority of his time seems to be spent as the face of the FM Chip, Emmis CEO Jeff Smulyan is still operating a radio company and today he reported quarterly earnings. Overall, Emmis Radio revenue increased 3.5 percent with national up 1 percent, local up 7 percent, and digital up 19 percent. The summer started out slow with June up only 1 percent, then things heated up as July rose 9 percent, and August 5 percent. Automotive and beverage were Emmis' two top-spending categories, with automotive up 19 percent for the quarter. The one downside to the quarter for Emmis was not selling out its signature New York City HOT 97 Summer Jam concert, although the company remains bullish on that franchise.
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