CBS Radio CEO Sees 'Confidence' Among Advertisers
February 28, 2008 at 4:53 AM (PT)
CNN MONEY reports advertisers have reacted positively to CBS RADIO stations that have seen a dramatic ratings increase in recent months due to format changes. "Anytime you see a surge in ratings, the advertisers gain a lot of confidence in those stations," said CBS RADIO Pres./CEO DAN MASON in a telephone interview. MASON returned to the helm at CBS RADIO last spring after leading the unit from 1995 to 2002.
FALL 2007 ratings at CBS RADIO's 140 stations rose by more than 6% over the same period a year earlier among listeners 12 and older, according to ARBITRON. At 14 stations that have switched formats or made other significant changes in programming since the beginning of last year, 12-plus ratings have risen by a combined 29%.
The figure reflects increases of 80% at AC WWFS/NEW YORK, 76% at Oldies WCBS-F/NEW YORK and 50% at Oldies KFRC/SAN FRANCISCO.
MASON acknowledged that it is difficult to predict how the weakened U.S. economy will affect his company and the radio business as a whole. "I guess that remains to be seen. ... But there are major advertisers who are spending more money on radio now than they ever have."
The medium has proven resilient during times of recession, he said, because advertising time on radio, while generally less expensive than other mass media, still reaches 95% of the U.S. population.