Clear Channel Inks Renewal With Arbitron
December 8, 2010 at 3:00 PM (PT)
ARBITRON has signed CLEAR CHANNEL RADIO to multi-year, multi-market contracts for Portable People Meter and diary radio ratings services. The deals extend the parties' relationship through DECEMBER 31, 2016.
"ARBITRON's PPM and diary ratings are an integral part of the radio buy-sell process for both terrestrial and digital outlets. We're gratified that CLEAR CHANNEL RADIO, our largest client, has ensured its continued access to ARBITRON services by renewing our partnership on this long term basis," said ARBITRON President/CEO WILLIAM KERR. "Going forward ARBITRON and CLEAR CHANNEL will be working closely with other radio groups in an industry-wide advocacy program to further promote the value of radio as the ultimate audio-powered and community-driven medium."
"In today's competitive media environment, advertisers and agencies increasingly demand accurate and timely data to inform their buying decisions," said CLEAR CHANNEL RADIO President and CEO JOHN HOGAN. "ARBITRON's PPM and diary ratings validate the great power of our medium and our platforms – and help us demonstrate every day how well we deliver on radio's unique ability to engage audiences."
Arbitron Issues 2011 Guidance
ARBITRON also issued financial guidance for the full year ending DECEMBER 31, 2011, projecting revenue to increase between 6 and 8 percent over 2010. For the full year 2010, ARBITRON is sticking to its guidance of a revenue increase near the lower end of 2 to 6 percent over the company’s 2009 revenue of $385 million. Earnings per share (diluted) are expected to be between $1.90 and $2.05 for the full year 2011.