10-9-14
Earnings season did not begin with a bang for radio. On Thursday, Emmis Communications reported results for June, July, and August and the results were more of the same, flat to down. Emmis Chairman and CEO Jeff Smulyan said July, August, and September was an interesting quarter. "The performance of the radio industry is very challenged but there is better news on the way."
While the quarter just ending was down, Smulyan says the final three months look better with Emmis pacing up in the high single-digits. He added that's not due to political. "We don't get much political." While Emmis was down 1.7 percent for the quarter, Smulyan said the markets the company reports to Miller Kaplan were down 5.1 percent and Emmis has outperformed its peers in those markets for the past four years. And Smulyan, who calls himself a one-trick pony, continued to say Emmis' smartphone product, NextRadio, is the catalyst that will change the perception of radio.
(10/10/2014 10:39:58 AM)
"And Smulyan, who calls himself a one-trick pony, continued to say Emmis' smartphone product, NextRadio, is the catalyst that will change the perception of radio."
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