Harris Nesbitt Report: March Ad Time Down 5.9%
April 5, 2006 at 5:13 PM (PT)
Radio commercial time is down again for MARCH, according to HARRIS NESBITT analyst LEE WESTERFIELD's monthly Radio Airtime Monitor. Ad time was down 5.9% to 10.4 minutes an hour, slightly smaller than recent 7-10% monthly declines. CLEAR CHANNEL's "Less Is More" continues with a 6.2% decline in commercial time, but the total for CC includes a 16.4% jump in 30 second spots.
WESTERFIELD, advising potential radio stock investors to "remain on the sidelines," said that he expects radio ad growth to rebound 3-5% no earlier than AUGUST through NOVEMBER, with political ads and more favorable year-to-year comparisons kicking in, but that radio stocks will slide an additional 10-15%.