In an internal memo touting the 18th month of its assimilation of CBS RADIO, ENTERCOM Pres./CEO DAVID J. FIELD touched on the revenue growth and outlined an ambitious strategy for future growth.
“The results are starting to show on the scoreboard,” he wrote. “Fourth quarter revenues grew by 4%. First quarter revenues were up 3%. On our recent earnings call, we announced that our second quarter revenues are pacing up 4% and while it is early, the rest of the year is looking very good.
“While it is great to once again be growing consistently quarter after quarter, it is also worth noting that we are just scratching the surface on our growth potential.”
He then offered a list of priorities for the next 18 months to maintain that growth:
• We will continue to make significant investments in our products and brands to enhance the quality of how we serve the 170 million listeners who touch our brands each month.
• We will continue to build and improve RADIO.COM aggressively toward our goal of making it one of the country’s leading digital audio apps.
• We will work to enhance and grow our news brands and deepen their audience
• We will elevate our community service work, focusing on our five areas of key focus: the environment; the military community; suicide prevention and related medical health issues and bullying; pediatric cancer care, and civics education.
• We will roll out new and enhanced data, analytics and attribution capabilities to better demonstrate our outstanding value to our customers.
• We will continue to step up our share shift efforts with medium and large local and national advertisers by enhancing our toolkit with products like Nielsen’s Local and National NMI. NMI uses actual NIELSEN audience data to powerfully demonstrate why advertisers should shift large portions of their media budget into radio, just as a number of companies, most notably P&G, have done.
• We will build on our powerful sports platform and further develop our podcasting business.
• We will continue to add more outstanding and talented leaders and specialists to our team.
• And more…