Marci Ryvicker: 'Somewhat Cautious' Local Media Outlook
June 7, 2012 at 3:21 AM (PT)
WELLS FARGO analyst MARCI RYVICKER summarized the trends touched on during the SNL KAGAN Broadcast Summit in NEW YORK, and says the tone is "somewhat cautious" regarding near-term business in local media, thanks to an "uneven" business outlook and macro concerns such as the debt situation in EUROPE.
"APRIL was weak, MAY relatively strong and JUNE is pacing in-between, mirroring the 'barbell' trend in Q1," she wrote. Auto advertising "remains robust, while other categories are mixed (telecom down, retail spotty and healthcare up). Political still looks to be back-end loaded."
RWONLINE.COM notes the report says, "National radio has strengthened lately, with MAY and JUNE revenue up for the first time in a long time. But the radio industry is also eyeing local sales efforts of PANDORA in markets like LOS ANGELES and CHICAGO."
RYVICKER's forecast sees "a lot less talk" about mergers and acquisitions than just a couple of months ago, though "CBS was brought up, this time as a potential net seller of radio assets."