No one was ready to sign on to Entercom CEO David Field’s prediction of double-digit growth in 2010, but participants in Thursday’s Group Executives Super Session Breakfast agreed that the worst of the downturn appears to have passed.
“If David’s group is up 15%, then we’ll be up 16%,” joked Clear Channel Communications CEO Mark Mays. “We’ve definitely hit a bottom over the last couple of months,” he said, but didn’t offer a firm prediction for next year.
“I’d love to feel that next year is no worse than flat,” said ICBC (Inner City) CEO Charles Warfield, who is also Chairman of the NAB Radio Board. If that’s the case, he’s hoping to be able to push EBITDA up a bit.
GAP Broadcasting President George Laughlin is being cautious, saying he is still budgeting for flat to down 5%. With broadcasters now in budgeting for 2010, Laughlin urged people to make any tough decisions now and carry out any further necessary budget cuts in Q4 so 2010 can be nothing but positive for their radio stations and employees.
