2-20-14
Clear Channel reported Q4 radio revenue of $845.5 million today, an increase of $24 million or 3%. Excluding political revenue was up 8%. The company says the increase was due to stronger national and digital advertising, as well as promotional and event sponsorship with the expansion of the Jingle Ball tour, iHeartRadio Music Festival and album release events. Clear Channel also said Q1 of 2014 was pacing up 3%.
Clear Channel CEO Bob Pittman said, "Clear Channel continued to create new businesses based on the strength of our core assets and to provide customized multi-platform market solutions to advertising partners that nobody else can. At Media+Entertainment, we further expanded our events business -- reaching nearly 4 billion social impressions with December's Jingle Ball national tour, following up on September's iHeartRadio Music Festival's 2.3 billion social impressions."
