CBS Chief Says Ad Sales Are 'Improving'
May 19, 2009 at 5:15 AM (PT)
MARKETWATCH.COM reports "CBS RADIO is seeing an improvement in advertising sales in the second quarter on improved ratings in some of its major markets, the growing popularity of its online streaming platform, and the addition of advertising clients who are new or returning to the medium, Pres./CEO DAN MASON said MONDAY.
"The CBS unit, along with the rest of the radio industry, has seen significant revenue declines in recent years due to the severe recession and some changes in consumer behavior.
"In the first quarter, revenue at CBS RADIO fell 29% to $259.7 million, as ad sales remained weak and the unit was hurt by the absence of revenues from WESTWOOD ONE that it received in last year's comparable period. Operating income plunged 62%."
A CBS spokesperson simply pointed to "improved ratings in some of its major markets," when asked if there was one reason why things were looking better.