Wells Fargo's Marcy Ryvicker Is A NextRadio Fan
September 20, 2013 at 4:36 AM (PT)
WELLS FARGO SECURITIES analyst MARCI RYVICKER was at the RADIO SHOW in ORLANDO, and in addition to her comments there (NET NEWS 9/19), her client letter TODAY (9/20) reveals she's a big fan of the NEXTRADIO app.
RYVICKER writes, "Local advertising is trending 'a little bit better.' We just returned from a three-day stint of broadcast conferences and one-off regulatory meetings, where we got an update on local ad trends as well as what might (or what might not) be happening in D.C. BOTTOM LINE: We came away incrementally positive on the broadcasters, as most of our contacts suggested that the local ad environment is trending a bit better than expected -- driven by auto, wireless and healthcare."
"We REALLY like NEXTRADIO," continues RYVICKER. "As a whole, radio industry revenue remains relatively flat (JULY was 'awful,' AUGUST 'okay' and SEPTEMBER 'en fuego'), although NY and LA are still the big outperformers. We spent a lot of time on NEXTRADIO and were pleasantly surprised with how well this app has been received. At this point, we don’t know why the entire radio industry wouldn’t jump on board -- with little to no downside, it feels like this really inexpensive option could be worth a lot of money down the line."