Tuesday, July 10, 2007
Radio Revenue Reports are Coming in Scary: Emmis has Big Downturn
Take a look at the google news story on the right>>>>Emmis Comunications posted a $1.9 million loss in the first quarter, compared to a $6.5 million profit last year.
The Indiana company, which owns 21 FMs and 2 AMs, said revenues have shrunk 3 percent to $87.3 million and blamed the losses on weakness in its major New York and Los Angeles stations.
Writes the Hollywood Reporter: "While radio revenue, which accounts for the bulk of the company's sales, fell 5.5% overall, publishing revenue rose 6%. Emmis owns several magazines, including Los Angeles Magazine, Texas Monthly and Country Sampler."
Emmis owns a smooth jazz station in NY and hip-hop and pop in LA. It owns the great KPIG-like KGSR-FM in Austin and two rockers in Chicago, incuding one that dumped Mancow Muller.
You almost have to chalk these up to two things: Google taking over the advertising landscape and the FCC making DJs so scared to say anything they are losing listeners. Add in the fact that radio has been so unimaginative in its programming that people aren't tuning in as much.
A suggestion? Try some of that KGSR programming in other cities, instead of the same old drivel.
PHOTO: rick dees, LA host.