48 hours before reporting second quarter earnings to Wall Street, Entercom CEO David Field updated employees on the business climate as the country continues to struggle through the COVID-19 crisis.
Field said while conditions remain quite challenging, they have improved significantly since April when the economy bottomed out. “Since then, our revenues have shown strong and steady improvement with each successive month getting progressively better.”
Field admitted there was still a long way to go but having sports back will certainly help Entercom, which is the industry leader when it comes to play-by-play and sports talk stations. He also said that advertising rates are rebounding and inventory is tightening up, thanks in part to a big political season.
Entercom employees will continue to work from home until the end of the year.
Entercom reports its Q2 earnings Friday at 10AM.
