Entercom's David Field Writes 'Radio's Outlook Brightened Considerably In 2015'
January 5, 2016 at 5:08 AM (PT)
ENTERCOM Pres./CEO DAVID J. FIELD has sent out a "Happy New Year!" memo to staffers. In it, he writes, "As we kick off the new year, I am writing to share my annual thoughts on our 2015 achievements and our outlook for 2016 and beyond.
"I am delighted to report that 2015 was a year of great accomplishment and progress at ENTERCOM. We started the year by announcing our acquisition of LINCOLN FINANCIAL MEDIA and while we had to endure some regulatory challenges, in JULY we added terrific new stations and teammates in LOS ANGELES, ATLANTA, MIAMI, SAN DIEGO and DENVER. We are excited about our early progress in our new markets and expect great things in the years ahead. During 2015, we also invested millions of dollars across the company in new content, staff positions, technology, tools and resources to enhance our competitive position and bolster our opportunities. And I am proud to report that we had the industry’s best ratings growth and our sales execution continued to improve from quarter to quarter, enabling us to finish the year with strong second-half financial results.
"2015 was also a great year for the Radio industry. We all know that Radio is a massive, highly undervalued medium which does not get anywhere close to fair recognition for its outstanding virtues. But Radio’s outlook brightened considerably in 2015 as a number of important research studies were published showing that Radio is thriving while many competitive forms of media are rapidly eroding."
Read the full note here.