Citadel’s smallest markets “performed the best” in Q1. Farid Suleman says next-best was the medium-size markets, and he singles out Nashville, Allentown, Lafayette and Birmingham for double-digit revenue growth. (Though some western markets such as Modesto, Reno and Salt Lake City posted “high-single digit declines.”)
But in the largest markets, it’s decidedly mixed. Chicago, Los Angeles, Washington D.C., Minneapolis and Providence were up, year over year. Los Angeles, San Francisco and Detroit were off. New York was down, "predominantly due to WPLJ", which is in a very intense ratings battle. But Suleman says its ratings "have stabilized" and the hot AC should have easier comps in the second half of the year. Also doing better - Citadel's two country stations in Dallas.
How about this current Q2? The company doesn’t offer guidance, but says generally, pacings continue to slow down this month. Like Entercom and other groups, Citadel’s exploring NTR possibilities such as a Groupon-style daily-deal auction, and Suleman says “a number of our markets are doing local deals” and they will roll them out to more markets – although “this is getting to be a crowded marketplace.” But Farid says “we have an advantage, promoting those deals on the radio.”
