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Clear Channel Radio Revenue Rises 3%

8-1-2012

Clear Channel CFO Tom Casey reported radio revenue (now known as Clear Channel Media and Entertainment) increased $21 million in the second quarter of 2012. Total revenue increased from $771.8 million in the second quarter of 2011 to $793 million in 2012. Clear Channel says that growth was due to "higher revenues from both national and local advertising as well as digital radio services." Casey said the top categories were automotive, telecommunications, political, financial services, and entertainment. Casey also said national advertising is growing double the rate of local. Clear Channel took in $9 million in political revenue during the second quarter and the company expects that to increase in the next quarter.



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