Clear Channel said early data showed its audience share had risen at stations in key markets where it moved to cut down commercials, according to Reuters.
The broadcaster cited data from Arbitron for early January through late March, saying there were dramatic shifts in 12 of the 22 stations it owns or operates in Los Angeles, Chicago and New York. It said Arbitron showed audience share for listeners 12+ rose nearly 6 percent, on a weighted basis, in those markets combined, compared with a year ago.
"While Clear Channel previously has said it successfully raised ad rates in the first quarter, it also has indicated overall radio revenues have suffered with its execution of the unusual "Less Is More" policy," Reuters reported, adding that "analysts have forecast Clear Channel's first quarter ad sales will be down 5.6 percent, compared with projected 3 percent to 5 percent gains among peers."