Same-station net revenue for Saga Communications in Q4 of 2017 decreased 4.2% to $29.5 million and that was blamed on a $1 million decrease in political advertising. CEO Ed Christian said automotive and health care are way down for the company. Looking at Q1, January was down slightly, February was flat, and March is pacing up. About 2018, Christian said, “We’re beginning to breathe normally. We’re fine. We do good work. We create a great environment for our people. And our boats won’t sink on our watch.”
Christian says Saga’s national now makes up only 10% of Saga’s business and he remembers when that number was as high as 18%. “That’s OK, because we want to be in control and not have to deal in transactional business. And in our markets, we have that ability [to be in control]. We play long ball. We work with clients to develop their brands.”
Christian also had a piece of advice for managers around the country, buy the book Madison Avenue Manslaughter. He has purchased copies for all of his managers to read. Christian says the advertising industry is down to about five major agencies, another reason he’s happy to be dealing with 90% local-direct business. The book is promoted on Amazon this way: “The advertising industry has reached a critical, dangerous point in its development. Agencies are destroying themselves with growing workloads and declining fees — a recipe for disaster.”
