As to the radio piece of its overall business (see above story), Clear Channel said radio revenues declined 6% to $3.5 billion for the year. The company cited its Less Is More initiative as a main reason.
“Both local and national revenues were down for the year, primarily from the reduction in commercial minutes made available for sale on the company’s radio stations,” it stated.
“The decline also includes a reduction of approximately $21.9 million from non-cash trade revenues. As a result, the majority of the company’s larger advertising categories declined during the year, including automotive and retail.”
But it said its “yield” — revenue divided by total minutes of available inventory — improved. “The company’s 30- and 15-second commercials as a percent of total commercial minutes available experienced a consistent increase throughout the year. Average unit rates also increased as the year progressed.”
Radio Revenue Fell 6% at Clear Channel in 2005
Radio Revenue Fell 6% at Clear Channel in 2005
