Overall revenue for the quarter was up 5% and CEO David Field said it was another solid quarter of strong organic growth for the company. October and November were strong months for Entercom, with December being softer. Excluding political, same-station revenue was flat for the quarter. Entercom took in $4.7 million in political in Q4 and $8 million for the year.
Same station revenue was up 3% in Q4 for Entercom to $42.1 million. The best-performing categories for the company were department stores, home furnishings, drug stores, and restaurants. The best-performing markets were Boston, Greensboro, Miami, and Indianapolis.
So far in Q1, January and February were soft and March looks somewhat stronger. Entercom CEO David Field said he feels good about the remainder of the year and he’s seen some recent improvement in pacings. He says business is placed later than ever.
In 2016 same station revenue was up 4% for Entercom while free cash flow was up 16%.
