Entercom Company News

David Field On TwitterDavid J. Field
President & CEO
from Andy Drake

July 22, 2015

Twice every year, I share my thoughts on Entercom and our future with our entire team.  My intent is to give you a deeper sense of how we are doing and where we are headed.  And with all of last week’s news, this is, of course, a particularly exciting time for Entercom and indeed for all of us.

I want to begin by welcoming all of you who have just joined us in the past week from Lincoln and Bonneville.  We are delighted to have you on our team and hope you enjoy many years of success, fulfillment and happiness at Entercom.  We are committed to making the transition as smooth as possible, extending every effort to make you feel at home and part of the team.

You have joined Entercom at a uniquely exciting time.  Our new acquisitions have added four outstanding top 20 markets to our lineup: Los Angeles, Atlanta, Miami and San Diego, and enhanced our position in Denver.  We have added a number of outstanding brands with great content and deep audience engagement, plus hundreds of new, talented broadcasters, hundreds of new clients and millions of new listeners.  We now operate 125 of the nation’s most distinguished stations in 27 markets, including every major West Coast market.

Our acquisitions are just a part of the story.  Our investments in new content, capabilities, innovation and talent have made us a much stronger organization with a bright future.  In fact, I believe that today Entercom is in its strongest position ever and is well positioned to thrive in the months and years ahead.  I’d like to share with you a handful of reasons why I am so fired up about the balance of 2015 and the years ahead.

Entercom is America’s Best Positioned Radio Broadcaster
o   As the 4th largest company in Radio, we have the size and pure play focus to compete effectively, further enhanced by the addition of our latest acquisitions.  We have worked hard to build a strong organization with outstanding local brands with great local personalities, powerful local marketing solutions capabilities, and a highly-talented team of top performers across the organization.  In addition, we are one of the financially strongest companies in the industry with moderate debt and a rising stock price and the capacity and flexibility to invest boldly in Entercom’s future where we see compelling opportunities for expansion and innovation.  No other broadcaster can make this complete set of statements.  For all of these reasons, we are extremely well positioned for success.

We Are a Growing Company Actively Investing in our Future
o   We are making significant investments in new markets, new brands and content, new staff positions, new tools and capabilities and SmartReach Digital.  Our growth makes us stronger and creates new opportunities for innovation and to expand our relationships with customers, listeners, partners and artists.  And with growth comes opportunities for new and expanded roles and responsibilities for members of the Entercom team.
o   We are also excited about the huge growth opportunities at our new stations.  The Sound is the fastest growing station in Los Angeles and several of the other new stations are growing at double-digit rates.  And all of the new stations will benefit from being part of a focused, pure play company competing in radio with greater scale and capabilities.

We Continue to Add Great Talent to the Entercom Team
o   We are truly fortunate to have such a highly-talented group of quality leaders, sales executives, on-air personalities, digital and technology experts, and others on our team.  And we continue to attract many of the industry’s best and brightest to join us.  With our new acquisitions, we have added a large number of terrific individuals, including four outstanding new GM’s and many other top performers.

Entercom is #1 in Nielsen Ratings Performance
o   Our focused commitment to building great local brands with great local personalities continues to pay off.  Over the past two years, Nielsen research shows that Entercom is the #1 performing radio group in ratings performance.  Our brands are strong and vibrant with high audience engagement and we continue to pursue new talent and content to make our brands even better.

We Continue to Build Excellent Marketing Solutions Capabilities
o   Strong digital platforms, great events, top-notch personality endorsements, local promotional capabilities, DTC/Perks, and so much more.  And that doesn’t even count SmartReach Digital, our local digital marketing solutions company which at this early stage of its growth already has hundreds of customers and many millions in revenues.  SmartReach is the perfect complement to our radio stations, enhancing our customer development efforts, and is primed for great growth in the future.  We will continue to build on all of these investments to ensure that we are the preferred partner for local and national businesses with marketing needs in the cities we serve.

Radio is America’s #1 Reach Medium – Thriving While Other Media Struggle
o   Nielsen just announced that Radio is the #1 Reach medium in the United States.  You cannot overstate the significance of that massively important finding.  Study after study continue to reveal that Radio usage is robust with more listeners than ever before at a time when virtually every other medium is suffering significant disruption and erosion. Other recent studies have reaffirmed Radio’s outstanding ROI, topping both television and digital.
o   Outside leaders are beginning to take notice.  In April, Forbes Magazine said, “The consumer’s love affair with AM/FM remains.  The number of listeners is staggering.”  And late last year, BBDO CEO Andrew Robertson noted, “There are still huge, huge radio audiences and frankly, it is a massively underutilized medium.”   As other media continue to suffer from rapid erosion due to declining usage and disruption from DVRs and other technologies, Radio has a great opportunity to significantly increase its share of ad spending.  Radio is America’s best advertiser choice: greatest reach, best local activation, highest ROI, most undervalued and least disrupted.

When you add it all up, it is clear how strongly positioned we are to compete and grow and prosper.

So now with the additional power of all of our great new markets, brands and people, we begin this exciting next chapter for Entercom.  As the fastest growing and best positioned company in America’s #1 Reach medium, the opportunities are great. We have never been stronger.  And never have our competitors in other media been so weak and vulnerable, holding on to revenues that they don’t deserve.  Of course, there will be hurdles and obstacles along the way, but with grit, determination, and confidence in our strength, we will capitalize on the great opportunities at hand.

On a final note, I would like to thank each and every one of you for all you do to make Entercom such a special company.  We are all blessed to work in a business that makes such a big difference in people’s lives every day in little ways and in big, in good times and in bad. At Entercom, we believe strongly in being a responsible corporate citizen, serving individuals, our communities, and our nation.  I appreciate the role each of you plays in making that happen.

I look forward to an exciting and successful back half of 2015 and wish each of you all the best for great personal health, happiness, achievement and fulfillment.

David

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David Field On TwitterDavid J. Field
President & CEO
Thought Leadership from the CEO
from Andy Drake

July 22, 2015

Twice every year, I share my thoughts on Entercom and our future with our entire team.  My intent is to give you a deeper sense of how we are doing and where we are headed.  And with all of last week’s news, this is, of course, a particularly exciting time for Entercom and indeed for all of us.

I want to begin by welcoming all of you who have just joined us in the past week from Lincoln and Bonneville.  We are delighted to have you on our team and hope you enjoy many years of success, fulfillment and happiness at Entercom.  We are committed to making the transition as smooth as possible, extending every effort to make you feel at home and part of the team.

You have joined Entercom at a uniquely exciting time.  Our new acquisitions have added four outstanding top 20 markets to our lineup: Los Angeles, Atlanta, Miami and San Diego, and enhanced our position in Denver.  We have added a number of outstanding brands with great content and deep audience engagement, plus hundreds of new, talented broadcasters, hundreds of new clients and millions of new listeners.  We now operate 125 of the nation’s most distinguished stations in 27 markets, including every major West Coast market.

Our acquisitions are just a part of the story.  Our investments in new content, capabilities, innovation and talent have made us a much stronger organization with a bright future.  In fact, I believe that today Entercom is in its strongest position ever and is well positioned to thrive in the months and years ahead.  I’d like to share with you a handful of reasons why I am so fired up about the balance of 2015 and the years ahead.

Entercom is America’s Best Positioned Radio Broadcaster
o   As the 4th largest company in Radio, we have the size and pure play focus to compete effectively, further enhanced by the addition of our latest acquisitions.  We have worked hard to build a strong organization with outstanding local brands with great local personalities, powerful local marketing solutions capabilities, and a highly-talented team of top performers across the organization.  In addition, we are one of the financially strongest companies in the industry with moderate debt and a rising stock price and the capacity and flexibility to invest boldly in Entercom’s future where we see compelling opportunities for expansion and innovation.  No other broadcaster can make this complete set of statements.  For all of these reasons, we are extremely well positioned for success.

We Are a Growing Company Actively Investing in our Future
o   We are making significant investments in new markets, new brands and content, new staff positions, new tools and capabilities and SmartReach Digital.  Our growth makes us stronger and creates new opportunities for innovation and to expand our relationships with customers, listeners, partners and artists.  And with growth comes opportunities for new and expanded roles and responsibilities for members of the Entercom team.
o   We are also excited about the huge growth opportunities at our new stations.  The Sound is the fastest growing station in Los Angeles and several of the other new stations are growing at double-digit rates.  And all of the new stations will benefit from being part of a focused, pure play company competing in radio with greater scale and capabilities.

We Continue to Add Great Talent to the Entercom Team
o   We are truly fortunate to have such a highly-talented group of quality leaders, sales executives, on-air personalities, digital and technology experts, and others on our team.  And we continue to attract many of the industry’s best and brightest to join us.  With our new acquisitions, we have added a large number of terrific individuals, including four outstanding new GM’s and many other top performers.

Entercom is #1 in Nielsen Ratings Performance
o   Our focused commitment to building great local brands with great local personalities continues to pay off.  Over the past two years, Nielsen research shows that Entercom is the #1 performing radio group in ratings performance.  Our brands are strong and vibrant with high audience engagement and we continue to pursue new talent and content to make our brands even better.

We Continue to Build Excellent Marketing Solutions Capabilities
o   Strong digital platforms, great events, top-notch personality endorsements, local promotional capabilities, DTC/Perks, and so much more.  And that doesn’t even count SmartReach Digital, our local digital marketing solutions company which at this early stage of its growth already has hundreds of customers and many millions in revenues.  SmartReach is the perfect complement to our radio stations, enhancing our customer development efforts, and is primed for great growth in the future.  We will continue to build on all of these investments to ensure that we are the preferred partner for local and national businesses with marketing needs in the cities we serve.

Radio is America’s #1 Reach Medium – Thriving While Other Media Struggle
o   Nielsen just announced that Radio is the #1 Reach medium in the United States.  You cannot overstate the significance of that massively important finding.  Study after study continue to reveal that Radio usage is robust with more listeners than ever before at a time when virtually every other medium is suffering significant disruption and erosion. Other recent studies have reaffirmed Radio’s outstanding ROI, topping both television and digital.
o   Outside leaders are beginning to take notice.  In April, Forbes Magazine said, “The consumer’s love affair with AM/FM remains.  The number of listeners is staggering.”  And late last year, BBDO CEO Andrew Robertson noted, “There are still huge, huge radio audiences and frankly, it is a massively underutilized medium.”   As other media continue to suffer from rapid erosion due to declining usage and disruption from DVRs and other technologies, Radio has a great opportunity to significantly increase its share of ad spending.  Radio is America’s best advertiser choice: greatest reach, best local activation, highest ROI, most undervalued and least disrupted.

When you add it all up, it is clear how strongly positioned we are to compete and grow and prosper.

So now with the additional power of all of our great new markets, brands and people, we begin this exciting next chapter for Entercom.  As the fastest growing and best positioned company in America’s #1 Reach medium, the opportunities are great. We have never been stronger.  And never have our competitors in other media been so weak and vulnerable, holding on to revenues that they don’t deserve.  Of course, there will be hurdles and obstacles along the way, but with grit, determination, and confidence in our strength, we will capitalize on the great opportunities at hand.

On a final note, I would like to thank each and every one of you for all you do to make Entercom such a special company.  We are all blessed to work in a business that makes such a big difference in people’s lives every day in little ways and in big, in good times and in bad. At Entercom, we believe strongly in being a responsible corporate citizen, serving individuals, our communities, and our nation.  I appreciate the role each of you plays in making that happen.

I look forward to an exciting and successful back half of 2015 and wish each of you all the best for great personal health, happiness, achievement and fulfillment.

David