2-11-14
It's now been three long months (11/5/2013) since Entercom President and CEO David Field told investors and analysts why revenue from the company's 23 markets fell 4 percent from $102.3 million in the third quarter of 2012 to $98.4 million in 2013. Today (12 p.m. eastern) Field will report 4th quarter earnings hoping to bring in some better news (follow Radio Ink on Twitter for the Entercom numbers). Back in November, Field said the numbers were because his salespople did not execute. "We failed to get the job done and that's unacceptable. We lagged our radio peers by a significant margin, failed to capitalize on our strong brands, ratings, and marketing capabilities." Today we should hear whether or not his sales problem is fixed. Q4 is typically radio's strongest quarter as stations take advantage of the holiday spending season. Looking back to Q4 of 2012, Entercom did well posting a revenue increase of 7 percent (over 2011) with local revenue up and national flat. Since the November 2013 earnings conference call Pat Paxton has been promoted to President of Programming and Steve DiNardo is the new Market Manager in San Francisco.
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