Clear Channel Communications

Posted on April 8, 2013 by Sarah Arlotto

by Sarah Arlotto

Clear Channel Communications’ logo- courtesy of clearchannel.com

Company Information

http://www.clearchannel.com

Address: 200 East Basse Road, San Antonio, Texas, 78209

Telephone: (210) 822-2828

A Brief History and Overview

Clear Channel Communications, Inc. was founded in 1972 with the purchase of its first FM radio station in San Antonio, Texas. After expanding throughout Texas, and then globally, Clear Channel has become one of the world’s largest media and entertainment companies. Besides Clear Channel’s Media & Entertainment sector, it also has an outdoor advertising division called Clear Channel Outdoor. Clear Channel Outdoor has over one million displays in over 30 countries. Clear Channel aims to be America’s only radio company that offers local presence with national reach and to develop innovative and dynamic campaigns for advertisers.[1]

Clear Channel Media and Entertainment

With 850 radio stations broadcast to over 150 markets, Clear Channel reaches over 243 million listeners every month and has a greater reach than any other radio or television outlet in the United States. They deliver a variety of content including music, news, talk, sports, and comedy, on a number of platforms such as AM/FM stations, in-vehicle satellite radio, HD radio, and online radio. Clear Channel also offers a digital music service called iHeartRadio. It is free and can be accessed through online internet streaming and through a mobile app. iHeartRadio gives listeners access to over 1,500 live radio stations and the opportunity to create customized stations based on their artist and song and genre preferences. Clear Channel also offers live music events such as their annual iHeartRadio Music Festival.[1]

What Is iHeartRadio? [13]

Key Executives

Bob Pittman [2]

Bob Pittman is Clear Channel Communications’ Chief Executive Officer.[2]

Tom Casey [2]

Tom Casey is Chief Financial Officer and Executive Vice President of Clear Channel Communications.[2]

Wendy Goldberg [2]

Wendy Goldberg serves as Chief Communications Officer and Senior Vice President for Clear Channel Communications. She oversees and executes strategic communications for all of the Clear Channel Brands.[2]

Robert H. Walls, Jr. [2]

Robert H. Walls, Jr. is General Counsel and Executive Vice President of Clear Channel Communications. He oversees the legal and government affairs departments within the company.[2]

John Hogan [2]

John Hogan is the Chairman and Chief Executive Officer of Clear Channel’s Media and Entertainment Division. He oversees the development and organization of Clear Channel’s radio stations.[2]

John Skyes [2]

John Skyes is the President of Entertainment Enterprises for Clear Channel. He helps to develop new business for Clear Channel Communications. He is also on the board of many organizations including Syracuse University’s Newhouse School of Public Communications.[2]

Financials

Clear Channel Communications is a privately traded company. Shares of their parent company, CC Media Holdings, Inc. are traded under the ticker symbol CCMO. Clear Channel Outdoor Holdings, Inc. is traded separately under the ticket symbol CCO.[3]

CCMO’s revenues have been increasing slowly since December 31, 2009. The recorded revenues for December 31, 2012 were $6,246.9 million. Operating expenses have also been on a steady increase. Since December 31, 2009 CCMO has also been experiencing a net loss of income every year. The net income recorded for December 31, 2012 was $424.5 million. This loss of income can be explained by rising operating expenses and only a very small increase in revenues.[4]

In the News

January: On January 7^thClear Channel Media and Entertainment updated their iHeartRadio app. They added a “Perfect For” feature that will allow users to choose a playlist based on their current mood or activity. They have also added an alarm clock and a sleep timer feature to the application, making it so iHeartRadio can be the first thing that listeners hear when they wake up in the morning and the last thing they hear before they fall asleep at night.[5]

Clear Channel’s iHeartRadio app “Perfect For” feature [15]

Clear Channel also announced that iHeartRadio will be made compatible in Chrysler Group and General Motors Company vehicles. The new made-for-driving application will be called “iHeartAuto” and will make it easier and safer for users to listen to their favorite radio stations and artists straight from their car.[6]

February: On February 11^th Clear Channel Media and Entertainment released their findings from recent research study that concluded that by reallocating a small amount of money to radio advertising can help companies increase their brand’s reach. These findings are explained by the notion that radio reaches an audience that is more receptive and open to marketing ideas and suggestions.[7] On February 13^th Clear Channel announced that they have a new partnership with Robbins Entertainment, a music label. As part of the deal, Clear Channel will be sharing all of its radio revenues as well as its digital broadcast revenues with the artists under the Robbins Entertainment label. Clear Channel has closed similar deals over the past few months with other record labels.[8]

March: On March 11^th Clear Channel unveiled an “Add-Ins” feature to their iHeartRadio app. This feature will allow listeners to insert local news, weather, and traffic to their custom stations. This innovation will allow Clear Channel to grow as a national radio provider while still localizing and personalizing their services.[9] On March 15^th Clear Channel announced their partnership with Target to promote Justin Timberlake’s new album: “The 20/20 Experience.” Together, Target and Clear Channel will host an iHeartRadio album release party on March 18^th. 120 lucky winners will be flown to Los Angeles for the event.[10]

“The 20/20 Experience” album release party [16]

On March 28^th Clear Channel announced that their annual iHeartRadio Music Festival will be held at the MGM Grand in Vegas for its third year. Part of the festival includes the Macy’s iHeartRadio “Rising Star Campaign” where 25 new artists compete for a spot in the festival alongside big names in the industry. Clear Channel also puts on a “Road to Vegas” campaign to promote the event, where hundreds of listeners will be awards trips to the concert. The event will take place September 21 and 22, 2013.[11]

Voting page for Macy’s Rising Star Campaign [13]

April: On April 1^st Clear Channel Media and Entertainment announced a partnership with Big Machine Label Group. Together the two companies will release The Band Perry’s second album, called PIONEER. The idea of the campaign is to increase audience awareness through an on-air Artist Integration Program to introduce the new album to listeners. The campaign will also include on-air interviews with the artists and a live performance.[12]

The Band Perry [17]

References

[1] http://www.clearchannel.com/Corporate/Pages/about.aspx

[2] http://www.clearchannel.com/Corporate/Pages/our-team.aspx

[3] http://www.clearchannel.com/Investors/Pages/faq.aspx

[4] http://investing.businessweek.com/research/stocks/financials/financials.asp?ticker=CCMO

[5] http://www.clearchannel.com/Pages/IHeartRadio-Unveils-New-“Perfect-For”-Feature—Now-Users-Can-Listen-To-Stations-Based-On-Their-Moods-And-Activities.aspx

[6] http://www.clearchannel.com/Pages/iHeartRadio-Expands-Its-Reach-Across-The-Automotive-Industry-With-Integrations-in-Chrysler-Group-and-General-Motors-Vehicle.aspx

[7] http://www.clearchannel.com/Pages/Research-Shows-That-Mix-Of-Radio-And-Tv-Gives-Advertisers-Bigger-Bang-For-Their-Buck.aspx

[8] http://thenextweb.com/media/2013/02/13/clear-channel-will-share-digital-radio-revenues-with-robbins-entertainments-music-artists/

[9] http://finance.yahoo.com/news/iheartradio-introduces-local-news-traffic-130000770.html

[10] http://www.webwire.com/ViewPressRel.asp?aId=171678

[11] http://www.billboard.com/biz/articles/news/branding/1554919/clear-channels-iheartradio-music-festival-announces-return-to

[12] http://www.clearchannel.com/Pages/Clear-Channel-Media-and-Entertainment-and-Big-Machine-Label-Group-to-Launch-Artist-Integration-Program-Around-The-Band-Perr.aspx

[13] http://macys.iheart.com/macys/

[14] http://www.youtube.com/watch?v=ZhQSr2SugXA

[15] http://www.allaccess.com/net-news/archive/story/113908/iheartradio-unveils-perfect-for-feature-based-on-l

[16] https://www.facebook.com/iheartradio

[17] http://www.countrymusicislove.com/category/the-band-perry

Entercom

Posted on September 18, 2012 by abrayas

by Alina Rayas

Photo Courtesy of logos.wika.com [1]

About Entercom :

Entercom is one of the five largest radio broadcasting companies in the United States, with 100 stations in 23 markets, including Seattle, Boston,San Francisco,Portland,Kansas City, Denver,and Sacramento.[2]

Map of All Entercom’s Radio Stations
Photo Courtesy of Entercom [3]

(click here for a list of all Entercom radio stations)[4}

Brief History:

Joseph Field
Founder of Entercom
Photo Courtesy of The Now Explosion[5]

In 1968, Entercom previously known as Entertainment Communications Inc was founded by lawyer Joseph Field. He quit law and purchased three radio stations . He believed that FM radio had the potential to grow and would surpass the popularity of AM radio. It was through his vision the company grew and in 1973 bought a radio station in Seattle, the first in the top 50 market. In 1980 Field expanded and began redesigning content and formats on its stations to attract larger audiences.[6]

In the early 1990’s, Entercom expanded due to less regulations, the Telecommunications Act of 1996, and a trade deal with Viacom. Entercom became the eighth largest radio broadcast company and the largest in the northwest with eight stations in Seattle and three in Portland.[6]

In 1998 and 1999 Entercom purchased radio stations in Boston, Sacramento ,Kansas City, and Portland. In 1999 Entercom acquired the Sinclair Broadcasting Group for $824.5 million with 46 radio stations in nine markets. Entercom now owned 88 radio stations in 17 markets becoming the fifth largest radio broadcasting company in the US. By 2001 Entercom had acquired 101 stations in 19 markets and brought in $333 million in revenues. Their major markets are Boston, Portland, Denver, Sacramento, and Seattle.[6]

Executive Officers:

Entercom Executives
Click on Photo to learn more
Photo Courtesy of Entercom[7]

Financials:

On Oct 26, 2012 Entercom released its financial results for the third quarter. The company has increased their net revenues for the quarter by 2% or 102.3 million. The company’s EBITDA grew 26% to $33.5 million. However the net income per share decreased 7% to $0.27. Entercom also managed to decrease station expenses drastically 9% or 63.6 million. Although the company’s results show increasing growth, President and CEO, David Field has his mind set on the next quarter. “Fourth quarter pacings look solid and we expect another quarter of solid growth in EBITDA.”[8]

Photo Courtesy of Google Finance [9]

Photo Courtesy of Google Finance[9]

(click here to read full financial data report)[10]

Recent News:

December 2012

Entercom’s New Website Layout
Photo Courtesy of Entercom[11]

12/4/12 – Introducing Entercom’s website makeover, the new website has many new features but its most notable is the incorporation of social media. The homepage has a live Twitter feed directly from all Entercom’s stations. The new layout also makes it easier for visitors to follow the company making Entercom more interactive and user-friendly. Browse through alphabetical links to the stations, buttons to stations apps, and social media buttons.[12]

WAAF’s Rise Up Against Hunger
Click Photo to Donate
Photo Courtesy of radioinfo.com[13]

12/4/12 – On December 4- 6^th 97.7/107.3 WAAF, radio stations owned by Entercom hosted an event named “WAAF’s Rise Up Against Hunger” the purpose of the event was to help raise money for multiple food banks in the Boston, Worcester, and New Hampshire areas. The event featured two radio personalities LB and Spanz who lived on an elevated boom crane for three days. In the past the station has hosted a series of outrageous stunts to encourage listeners to donate to local food banks.[14]

November 2012

Volunteers and Ronald Mcdonald work at 5th Annual “Light the House Radiothon” [15]
Photo Courtesy of KOSI-FM

11/7/12 – Denver radio station KOSI-FM, one of Entercom radio stations, encouraged its listeners to participate in the 5th Annual “Light the House Radiothon”. The fundraising event took place November 13 between 6 am and 6 pm. The donations from the radiothon went to patients at the Rocky Mountain Hospital for Children and family members who stay at The Ronald McDonald House. KOSI listeners had the opportunity to call the station to make donations and pledges while be attended by celebrity guests. Many local businesses also participated by writing checks to the hospital and charity.[16]

11/2/12– David Field, President and CEO of Entercom spoke on November 9, 2012 at the Wells Fargo Technology, Media and Telecom Conference along with Entercom’s Executive VP of Operations and CFO, Steve Fisher. The event was audio streamed on the Entercom website and a podcast version was available for ten days after the conference.[17]

(click here to watch a previous speech by CEO David Field)[18]

Jack Donlevie
General Counsel and Executive Vice President of Entercom
Photo Courtesy of Radioink.com[19]

11/1/12 – Jack Donlevie will retire from Entercom in 2015. Donlevie the General Counsel and Executive Vice President will begin scaling back starting in January of 2013 by relinquishing his role as General Counsel. Entercom CEO David Field credits Donlevie with the company’s success and commends him for his dedication and commitment for his 28 years of service to Entercom. Entercom’s Vice President and Corporate Counsel, Andrew Sutor, will succeed Donlevie as General Counsel in January 2013.[20]

October 2012

10/19/12 – KEZW Studio 1430 AM in Denver, Co is the largest radio station in the US to be powered with solar energy. Entercom Denver and Studio 1430 AM have made history by installing 40 solar panels shifting toward energy efficiency by using the power of renewable energy. This latest project supports Entercoms’s environmental 1Thing initiative for improving our world. This move has already dropped the station’s monthly energy costs by 80%.[21}

Studio 1430 Solar Panels [21]
Photo Courtesy of Entecom

10/2/12 – Over 30 Entercom employees from the corporate headquarters located in Philadelphia’s Bala Cynwyd, dedicated their time to reducing the companies carbon footprint. Employees planted 236 trees at Lower Merion Township’s Rolling Hill Park in Gladwyne in order to neutralize its carbon footprint emitted throughout the year. This environmental conscious company received input about what trees would suit the area and planting the trees in areas with gap or mature trees to benefit the park.[22]

September 2012

9/21/2012 – The National Association of Broadcasters Marconi Radio Awards held in Dallas awarded WEEI Sports Radio with the honor of Sports Station of the Year. This prestigious award recognized WEEI radio for its extraordinary on-air personalities and dedication to excellence. Entercom’s Jason Wolfe, vice president of programming and operations of Entercom Boston was elated to share the honor with WEEI Sports Radio.[23]

Taylor Swift Album Red [24]
Photo Courtesy of Big Machine Label Group

9/20/2012 – Big Machine Label Group has joined Entercom’s broadcast team in a bold move. Big Machine artists will now be able to partake in revenues associated with Entercom’s vast market. Entercom is hoping to build a new business model with the label industry and its band of artists. Big Machine will begin grow its digital business and its community of artists will benefit from Entecom’s terrestrial royalties. Top artists include Taylor Swift and Tim McGraw.[25]

ESPN Radio logo [26]
Photo Courtesy of logos.wikia.com

9/18/2012 – Entercom, ESPN radio, and Boston’s WEII 850 AM have teamed up together to provide top national sports talk and some of the finest play by play available. Highlights will include NBA, Major League Baseball, and college football and basketball’s latest. Dubbed “ESPN on WEII” listeners can access live audio stream through ESPNBoston.com and get the latest ESPN video content.[27]

9/12/2012 – Entercom has chosen WO Traffic, a part of WideOrbit Inc. to run all of its radio stations. This market includes over 100 of its stations throughout the US that covers 23 markets. WO Traffic will customize its product to serve Entercom with more effective and efficient tools.[28]

August 2012

Ric Bucher [29]
Co-host of The Drive
Photo Courtesy of All Access

8/29/2012 – San Francisco radio station, KGMZ-FM, owned by Entercom , signed ESPN analyst Ric Bucher (@RicBucher) to co-host the afternoon weekday show The Drive from 3-7pm. He will work alongside current host Brandon Tierney.(@BrandonTierney) Bucher’s enthusiasm is evident when he stated that signing on will “ feel like I am coming home.” He has signed on to a deal that will include multiple years at the station.[30]

Click to Listen Live [31]
Photo Courtesy of WRUF-FM

8/28/2012 – Entercom announced a seven year partnership with the University of Florida’s College of Journalism and Communications radio stations WRUF-AM and WRUF-FM. The partnership between Entercom and the UF’s College of Journalism and Communications creates a great opportunity for Entercom to increase its sale profile market while providing UF’s Journalism students with experience in multiple daily activities involved in Entercom’s local radio station.[32]

Sources:

[1] Entercom logo http://logos.wikia.com/wiki/Entercom_Communications

[2][7] Entercom About Us Page and Executive Profile Image http://www.entercom.com/about-us

[3] Entercom Radio Station Map Image http://www.entercom.com/contact

[4] Entercom Radio Station List http://www.entercom.com/radio-stations

[5] Image of Joseph Field http://thenowexplosion.com/

[6] History of Entercom http://www.fundinguniverse.com/company-histories/entercom-communications-corporation-history/

[8] Entercom Financials http://finance.yahoo.com/news/entercom-communications-corp-reports-third-115500443.html

[9] Google Finance Graphs http://www.google.com/finance?q=NYSE%3AETM&fstype=ii&ei=Y6PBUMCvBYPL0QGqxgE

[10] Financial Data Report PDF http://www.entercom.com/docs/ETM_financial_data_tables_Q3_12.pdf

[11] Image of New Entercom Wesite http://www.entercom.com/

[12] New Website Layout for Entercom http://www.radioink.com/article.asp?id=2585453