Some radio groups will not survive.
Even though radio ad revenue had been eroding gradually for the past few years, no one could see this precipitous drop coming.
Some groups will do better, but not that much better because the coronavirus and ensuing economic recession has ripped into the fundamentals of the radio industry.
Layoffs, firings and furloughs will be as commonplace as social distancing.
This tsunami is not temporary and the changes it will trigger will upend the radio industry’s biggest groups.
Radio has been running with lean staffs pointing out the challenges debt-heavy groups like iHeart, Entercom and Cumulus now face.
- Audacy’s Hiring Problem
- iHeart Foreign Sale Still on the Table
- Westwood Done
- Cumulus Fires 9 in One Market
- The Fan-to-Fan Music Revolution
- San Diego Audacy Exodus Resumes
- Big Changes Coming to CHR
- New Cumulus Market Manager Mandate
- Cumulus to Regionalize Business Managers
- Podcasting Is Having Radio Trouble