News Articles

Top 25 Radio Groups

Ad Sales Show Rebound in '02. 9/28/2003 08:00:00 PM Eastern

Call it a rebound in progress for the radio industry, which, like most media, was walloped by the one-two punch of the recession and 9/11. The climb back up has been slow but steady, as reflected in the performance of the top 25 radio-station groups.

Chart Toppers
Rank Revenue (in millions)
'03 '02 Group 2002 2001 chg.
Source: BIA Financial Network
1 1 Clear Channel $3,423.4 $3,251.0 5.3%
2 2 Infinity $2,186.6 $2,081.1 5.1%
3 3 Cox Radio $466.8 $427.6 9.2%
4 4 Entercom $455.1 $393.7 15.6%
5 5 ABC Radio $424.6 $399.1 6.4%
6 6 Citadel $366.1 $311.4 17.6%
7 7 Radio One $338.1 $287.5 17.6%
8 10 Emmis $296.7 $265.3 11.8%
9 8 Cumulus $292.9 $253.4 15.6%
10 9 Univision $290.9 $256.1 13.6%
11 11 Susquehanna $244.3 $220.9 10.6%
12 12 Bonneville $221.9 $188.8 17.5%
13 13 Greater Media $166.3 $151.5 9.8%
14 16 Spanish Broadcasting $147.5 $124.2 18.8%
15 14 Salem $145.1 $135.6 7.0%
16 15 Jefferson-Pilot $136.1 $126.2 7.8%
17 17 Beasley $118.4 $115.7 2.3%
18 18 Saga $108.8 $100.1 8.7%
19 19 Entravision $88.3 $63.5 39.1%
20 21 Regent $84.5 $64.4 31.2%
21 20 Journal Broadcast $72.1 $69.2 4.2%
22 24 NextMedia $68.3 $52.8 29.4%
23 23 Inner City $64.8 $57.0 13.7%
24 22 Sandusky $59.4 $58.2 2.1%
25 25 Lotus $52.6 $45.9 14.6%
Total $10,319.6 $9,500.2 8.6%

None of the top 25 companies have posted wow, gee whiz revenue gains, but every one reported at least modest sales increases for 2002, the most recent year for which BIA Financial Network has numbers. In part, those increases are the result of expanding station portfolios, a sign that the big players still believe in the business and are betting on future growth.

Economists keep hedging their bets by predicting the possibility of a second recessionary period. For now, though, radio's worst days seem to be behind it. According to BIA, the B&C Top 25 station groups garnered combined revenue of $10.3 billion in 2002, a 9 % increase over 2001.

The top-25 performance was somewhat better than the industry as a whole. "2002 was a good year for the radio industry, with total revenue up 7.2%," says BIA FN Vice President Mark Fratrick. However, after the big downer of 2001, when revenues dropped 8%, the 2002 gain didn't make up all the lost ground. But, as Fratrick notes, "it came close."

The top five companies retained their rankings based on 2002 revenues. Clear Channel Communications repeated as the leader, with $3.42 billion in revenue, up 5% from $3.25 billion in 2001. Infinity Broadcasting was second again, with $2.18 billion, also up 5% from $2.08 billion. Cox Radio remained third with $466.8 million, up 9% from $427.6 million.

Entercom and ABC again finished fourth and fifth, respectively, in the latest survey, with Entercom posting $455.1 million, up 16% from $393.7 million. ABC Radio was fifth with $424.6 million, up 6% from $399.1 in 2001.

The number of stations owned by the top 25 radio groups grew 3% over the past year, from 2,824 stations in 2002 to 2,915 outlets as of Sept. 19. Most of the groups made small additions to their station portfolios or retained the same holdings. The exception was Clear Channel, whose total station count dropped from 1,238 to 1,216—still far more than any other group's, though.

While the top five station groups remained unchanged, there were shifts on the list. Among the top 10, Cumulus Media dropped to 9th, from 8th; Emmis moved from 10th to 8th, and Univision moved from 9th to 10th. Further down the list, Spanish Broadcasting moved from 16th to 14th; NextMedia went from 24th to 22nd as Sandusky Radio made the reverse trip. The complete rundown is provided in the accompanying chart and capsules.

1. CLEAR CHANNEL COMMUNICATIONS

L. Lowry Mays, chairman/CEO
Mark Mays, president/COO
200 E. Basse Rd.
San Antonio, TX 78209-8328
210-822-2828
www.clearchannel.com
OWNERSHIP: Public ( NYSE: CCU)
TOTAL MARKETS: 190
STATIONS: 1,216
REVENUES: $3,423,450,000

2. INFINITY BROADCASTING

John Sykes, chairman/CEO
1515 Broadway
New York, NY 10036-8901
212-258-6000
www.infinitybroadcasting.com
OWNERSHIP: Viacom ( NYSE: VIA)
TOTAL MARKETS: 40
STATIONS: 185
REVENUES: $2,186,675,000

3. COX RADIO

Robert Neil, president/CEO
6205 Peachtree Dunwoody Rd. NE
Atlanta, GA 30328-4524
678-645-0000
www.coxradio.com
OWNERSHIP: Public ( NYSE: CXR)
TOTAL MARKETS: 18
STATIONS: 78
REVENUES: $466,850,000

4. ENTERCOM

David J. Field, president/CEO
401 City Ave., Ste. 809
Bala Cynwyd, PA 19004-1121
610-660-5610
www.entercom.com
OWNERSHIP: Public: ( NYSE: ETM)
TOTAL MARKETS: 19
STATIONS: 104
REVENUES: $455,100,000

5. ABC RADIO

John Hare, president, ABC Radio
13725 Montfort Dr.
Dallas, TX 75240-4455
972-776-4648
www.abcradio.com
OWNERSHIP: Disney ( NYSE: DIS)
TOTAL MARKETS: 35
STATIONS: 74
REVENUES: $424,625,000

6. CITADEL BROADCASTING

Farid Suleman, CEO
7201 W. Lake Mead Blvd, Ste. 400
Las Vegas, NV 89128-8366
702-804-5200
www.citadelbroadcasting.com
OWNERSHIP: Public ( NYSE: CDL)
TOTAL MARKETS: 44
STATIONS: 216
REVENUES: $366,125,000

7. RADIO ONE

Alfred C.Liggins III, president/CEO
5900 Princess Garden Pkwy.
Lanham, MD 20706-2925
301-306-1111
www.radio-one.com
OWNERSHIP: Public (Nasdaq: ROIA)
TOTAL MARKETS: 22
STATIONS: 66
REVENUES: $338,100,000

8. EMMIS COMMUNICATION

Jeff Smulyan, chairman/CEO
Rick Cummings, president, Emmis Radio
40 Monument Circle, Ste. 700
Indianapolis, IN 46204-3011
317-266-0100
www.emmis,com
OWNERSHIP: Public (Nasdaq: EMMS)
TOTAL MARKETS: 8
STATIONS: 27
REVENUES: $296,775,000

9. CUMULUS MEDIA

Lewis W. Dickey Jr., chairman/president/CEO
3535 Piedmont Rd., Bldg. 14
Atlanta, GA 30305-4601
404-949-0700
www.cumulusb.com
OWNERSHIP: Public (Nasdaq: CMLS)
TOTAL MARKETS: 55
STATIONS: 270
REVENUES: $292,975,000

10. UNIVISION COMMUNICATIONS*

A. Jerrold Perenchio, chairman/CEO
1999 Avenue of the Stars
Los Angeles, CA 90067-4611
310-556-7676
www.univision.net
OWNERSHIP: Public ( NYSE: UVN)
TOTAL MARKETS: 16
STATIONS: 57
REVENUES: $290,900,000
*Pending deal to acquire Hispanic Broadcasting

11. SUSQUEHANNA RADIO

Dave Kennedy, president/COO
221 W. Philadelphia St.
York, PA 17404-1219
717-852-2132
www.susquehannaradio.com
OWNERSHIP: Private
TOTAL MARKETS: 9
STATIONS: 33
REVENUES: $244,300,000

12. BONNEVILLE INTERNATIONAL

Bruce T. Reese, president/CEO
P.O. Box 1160
Salt Lake City, UT 84110-1160
801-575-7500
www.bonnint.com
OWNERSHIP: Private; The Church of Jesus Christ of Latter-Day Saints
TOTAL MARKETS: 5
STATIONS: 35 (pending FCC regulation changes)
REVENUES: $221,950,000

13. GREATER MEDIA

Peter Smyth, president/CEO
35 Braintree Hill Office Park
Braintree, MA 02184-8703
781-348-8600
www.greater-media.com
OWNERSHIP:
Private
TOTAL MARKETS:
6
STATIONS:
19
REVENUES:
$166,300,000

14. SPANISH BROADCASTING SYSTEM

Raul Alacon Jr., president/CEO
2601 S. Bayshore Dr., PH2
Coconut Grove, FL 33133-5417
305-441-6901
www.spanishbroadcasting.com
OWNERSHIP: Public (Nasdaq: SBSA)
TOTAL MARKETS: 7
STATIONS: 27
Revenues: $147,500,000

15. SALEM COMMUNICATIONS

Edward G. Atsinger III, president/CEO
4880 Santa Rosa Rd., Ste. 300
Camarillo, CA 93012-0958
805-987-0400
www.salem.cc
OWNERSHIP:
Public (Nasdaq: SALM)
TOTAL MARKETS:
35
STATIONS: 92
REVENUES: $145,150,000

16. JEFFERSON-PILOT COMMUNICATIONS

Clarke Brown Jr., president, Radio Division
3350 Peachtree Rd. NE, Ste. 1800
Atlanta, GA 30326-1040
404-261-2970
www.jefferson-pilot.com
OWNERSHIP:
Public ( NYSE: JP)
TOTAL MARKETS:
5
STATIONS:
17
REVENUES:
$136,100,000

17. BEASLEY BROADCAST GROUP

George G. Beasley, chairman/CEO
3033 Riviera Dr., Ste. 200
Naples, FL 34103-2750
239-263-5000
OWNERSHIP:
Public (Nasdaq: BBGI)
TOTAL MARKETS:
10
STATIONS:
41
REVENUES:
$118,450,000

18. SAGA COMMUNICATIONS

Edward K. Christian, president/CEO
73 Kercheval Ave.
Grosse Pointe Farms, MI 48236-3603
313-886-7070
www.sagacommunications.com
OWNERSHIP:
Public (Amex: SGA)
TOTAL MARKETS:
19
STATIONS:
71
REVENUES:
$108,825,000

19. ENTRAVISION COMMUNICATIONS

Walter Ulloa, chairman/CEO
Jeffrey A. Liberman, president, Radio Division
2425 Olympic Blvd., Ste. 6000
W. Santa Monica, CA 90404-4030
310-447-3870
www.entravision.com
OWNERSHIP:
Public ( NYSE: EVC)
TOTAL MARKETS:
23
STATIONS:
58
REVENUES:
$88,375,000

20. REGENT COMMUNICATIONS

Terry Jacobs, chairman/CEO
William Stakelin, president/COO
100 E. Rivercenter Blvd., 9th Fl.
Covington, KY 41011-1622
859-292-0030
www.regentcomm.com
OWNERSHIP:
Public (Nasdaq: RGCI)
TOTAL MARKETS:
16
STATIONS:
76
REVENUES:
$84,500,000

21. JOURNAL BROADCAST GROUP

Doug Kiel, vice chairman/CEO
Carl Gardner, president, radio
720 E. Capitol Dr.
Milwaukee, WI 53212-1371
414-332-9611
www.journalbroadcastgroup.com
OWNERSHIP:
Private
TOTAL MARKETS:
8
STATIONS:
36
REVENUES:
$72,150,000

22. NEXTMEDIA GROUP

Skip Weller, president/co-COO
6312 S. Fiddlers Green Circle
Englewood, CO 80111-4946
303-694-9118
www.nextmediagroup.net
OWNERSHIP:
Private
TOTAL MARKETS:
14
STATIONS:
60
REVENUES: $68,375,000

23. INNER CITY BROADCASTING

Pierre Sutton, chairman/CEO
Charles Warfield, president/COO
3 Park Ave., 40th Fl.
New York, NY 10016-5902
212-447-1000
www.bls.com, www.wlib.com
OWNERSHIP: Private
TOTAL MARKETS: 8
STATIONS: 19
REVENUES: $64,825,000

24. SANDUSKY RADIO

Norman D. Rau, president
515 Park Ave., Apt 4A
New York, NY 10022-1110
212-355-3074
(no Web address available)
OWNERSHIP: Private
TOTAL MARKETS: 2
STATIONS: 10
REVENUES: $59,400,000

25. LOTUS COMMUNICATIONS

Howard A. Kalmenson, CEO
3301 Barham Blvd. Ste. 200
Los Angeles, CA 90068-8841
323-512-2225
www.lotuscorp.com
OWNERSHIP: Private
TOTAL MARKETS: 7
STATIONS: 24
REVENUES: $52,600,000

 

Alert to All Users of the Disqus commenting system:
Because of a recent global security issue, the Disqus website recommends that all users change their Disqus passwords. Here's a URL about the issue:
http://engineering.disqus.com/2014/04/10/heartbleed.html

 

April
May