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artmorris
Administrator
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Posted: Fri Mar 21st, 2008 12:43 pm |
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This article from Radio Ink. Somehow, I don't think they define "small market" the same way I do. I think they're talking about markets the size of Springfield, compared to Top 25 markets. When I talk about 'small market', I'm talking about rural areas. But,whatever the case, it's a little good news on the financial side our business. Art
Analyst: Small Markets Winning Despite Overall Revenue Drop
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NEW YORK -- March 20, 2008: Small-market radio is winning, says CL King & Associates analyst Jim Boyle, who also notes that he's been "banging the drum for several quarters that small-mid markets have been consistently outpacing their top 25 market brethren." Boyle points to a 5 percent gain for small markets in February, compared to the 2 percent radio revenue drop reported by the RAB.
"We would note that the gap is recently widening," Boyle wrote in a report Thursday, "especially when one compares the big market (top 25) versus small market (below #75)."
Boyle says that small and midsized markets have outpaced big markets in 22 of the last 25 months, pointing to Saga, Cumulus, and Regent as small-market groups. But, he continues, "Investors have not been sufficiently impressed and continue not to care for the relatively better small-market performance versus radio's overall secular decline."
February was the 10th straight down month reported by the RAB, but Boyle points out that the number was "better than expected," with a 2 percent drop compared to Wall Street predictions of a 4 percent decline.
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