The world has changed. We’ve gone from near full employment to 10% unemployment in the blink of an eye. The coronavirus is impacting every aspect of our lives. That includes advertising. Salem Media Group has announced it is withdrawing its Q1 guidance due to the pandemic. Here’s the full statement.
“Based on current indications, Salem expects total first quarter 2020 revenue will be less than previously projected as a result of decreased revenues from advertising, programming, events and book sales. Due to continuing uncertainties regarding the ultimate scope and trajectory of COVID-19’s spread and evolution, the effects of the pandemic on Salem’s audiences, programmers and advertisers, and current and potential future governmental restrictions that may be adopted in the markets in which Salem operates, it is impossible to predict the total impact that the pandemic may have on Salem’s business.”
Salem had been projecting a flat to down 2% Q1.