Entercom Q4 Revenue Down 23%

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But again, much like Cumulus reported Tuesday, Q4 2020 was better than Q3 2020 and in 2021 February was stronger than January and March better than February. The pandemic created a huge hole for everyone to dig out of, however, so far many signs appear to be putting in the positive direction.

Entercom, like nearly every radio company in the United States, built up robust events businesses which became the first thing to take a major hit when people were no longer allowed to gather in groups. In Q4 of 2019 events made up 7% of Entercom’s overall business. In 2020 that category was down a devastating 98%.

Digital revenue for Entercom in Q4 was $58.8 million, up 23% compared to the fourth quarter of 2019. Streaming and podcasting were mentioned as the standout performers, although no radio company is putting a number on their podcasting revenue as of yet. They are calling it part of digital.

When life returns to normal Entercom is expecting the sports betting category to be very lucrative for the company. Entercom has the strongest national sports platforms in radio, from play-by-play of national sports teams to local sports talk stations in many markets across the country. And, the company recently purchased sports data and iGaming affiliate platform QL Gaming Group in November in an all-cash deal for approximately $32 million.

 

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