Entercom reported an increase of 5% in same-station Q2 revenue and CEO David Field, on the heels of a strong first quarter, said the performance of his company in the second quarter was great “on every level.” Field said both local and national revenue were strong with local leading the way, and the strongest categories for the company were automotive, entertainment, restaurants and fast food, and professional services.
Pacings also look good for Entercom with Q3 pacing up 3% and Q4 pacing “very strong,” according to Field. In the quarter, Entercom took in $1 million in political revenue, compared to $300,000 in 2015. Through the first six months of the year, Entercom banked $1.8 million in political revenue, however political has not yet had a significant impact on Entercom’s revenue. The bulk of that spending is expected to arrive in August and September.
The company also reduced its leverage from 4.6X a year ago to under 3X today.
