For Clear Channel, Big Markets Outperform Small

Revenue performance in Clear Channel’s top-50 markets outpaced the smaller markets in the most recent quarter.
Revenue for the radio giant was up 2 percent in the top 50 markets, but down 2.5 percent elsewhere in the third quarter. As reported in the story above, that netted a flat quarter for radio at Clear Channel.
“Local advertising primarily drives these markets, and it has remained sluggish throughout most of 2003,” the company said.
Clear Channel also “saw declines in revenue streams from sports broadcasting rights that the company did not renew such as those for the L.A. Dodgers and Atlanta Falcons.”