At the risk of beating an old, lame, almost dead horse...the folks at Clear channel clearly don't get it. You can't makemoney if you don't spendmoney.
Clear Channel's John Hogan orders further "cuts on the expense side" - ASAP
San Antonio decrees harsh measures because "we are generating less revenue for Q1 than we budgeted and less than what actually ran last year. At the same time, our budgeted expenses for Q1 are up 4%." Hogan's list of Q1 expense reductions includes: "all research monies after 2/1. All advertising and promotion monies after 2/1. All new sales hire guarantees not already implemented, effective immediately (do NOT hire any additional salespeople, effective immediately). All new hires budgeted but not hired, effective immediately (do not hire any additional new employees). Any/all discretionary monies (i.e., travel, meals and entertainment) for your market. Additionally, you are not to replace any departing personnel without specific approval from your EVPO." Hogan says "I completely understand the challenges associated with implementing the above cuts...unfortunately, there is not another alternative."
Realmanagers know how to turn a negative into a positive and make money even in down times. Regardless, you never kill your product just to make your bottom line.
And some wonder why radio is having a hard time.
Clear Channel's John Hogan orders further "cuts on the expense side" - ASAP
San Antonio decrees harsh measures because "we are generating less revenue for Q1 than we budgeted and less than what actually ran last year. At the same time, our budgeted expenses for Q1 are up 4%." Hogan's list of Q1 expense reductions includes: "all research monies after 2/1. All advertising and promotion monies after 2/1. All new sales hire guarantees not already implemented, effective immediately (do NOT hire any additional salespeople, effective immediately). All new hires budgeted but not hired, effective immediately (do not hire any additional new employees). Any/all discretionary monies (i.e., travel, meals and entertainment) for your market. Additionally, you are not to replace any departing personnel without specific approval from your EVPO." Hogan says "I completely understand the challenges associated with implementing the above cuts...unfortunately, there is not another alternative."
Realmanagers know how to turn a negative into a positive and make money even in down times. Regardless, you never kill your product just to make your bottom line.
And some wonder why radio is having a hard time.