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That's the take from several radio executives who appeared at aWells Fargo event Thursday morning in New York City. Entercom CEO David Field, Emmis CEO Jeff Smulyan, and Cumulus' Collin Jones spoke at the Wells Fargo TMT conference, according to analyst Marci Ryvicker. In a report she issued after the event, Ryvicker wrote digital streaming competitors may not be as big of a threat as the market thinks. "The panelists stressed that the economics of digital streaming are very challenging (perhaps evidenced by the fact that Pandora has not turned a profit yet, and that their digital streaming competitors make up a very small portion of overall listening. Pandora only makes up 7 percent of total listening while traditional radio makes up 11- to 12-times that."
Ryvicker also reported that the panel said visibility into 2015 revenue is very limited, but Q1 ad trends are encouraging so far. "We didn't get a lot of color here given that advertising is being booked later and later. However, based on the limited business that has been booked Q1 currently, it sounds like ad trends are encouraging so far." Ryvicker has been saying for over a year now that she believes Emmis' NextRadio is a game-changer for radio so there was also discussion about NextRadio at the event.
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