Entercom reported same-station revenue increased 3% in the third quarter, with August being the strongest month. CEO David Field said local, political, and digital were all up, with National off a bit. Excluding political, Entercom’s same-station revenue was up 2%.
The company’s strongest markets were San Francisco, Denver, Miami, San Diego, and Indianapolis. The best-performing advertising categories for the quarter were financial, grocery, home furnishings, and entertainment. Field also said solid expense management lead to margins growing from 29% to 31%.
The company also received $2.3 from BP for its New Orleans market over the oil spill that occurred several years ago.