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Clear Channel Radio to Improve Value of Radio Sales Metrics
SAN ANTONIO -- From now on, Clear Channel Radio will focus on providing sales data for Miller, Kaplan, Arase & Co. LLP's monthly actual-sales reports and will no longer supply weekly sales-pacing data for its radio stations."As an industry, we must discontinue practices created for a different time and, instead, focus on consistent, reliable metrics that reflect the true value of our business," says John Hogan, chief executive officer. "Weekly pacings are no longer a meaningful or accurate measure of the performance and long-term value of radio advertising. Miller Kaplan's weekly data does not help us run our business, creates volatility in the financial markets by inviting exaggerated interpretations of normal sales cycles, and puts the radio industry at a competitive disadvantage to other media sectors who focus on advertisers and investors on longer-term value."The radio industry is the only media sector that reports weekly sales data. The television industry reports on a monthly basis; newspapers report monthly; and cable companies report quarterly, Hogan notes. Further, he says the weekly pacings report's scope covers just 32 of Clear Channel Radio's 250 markets.Clear Channel Radio's proprietary inventory yield-management system, TradeWinds, provides local station management with real-time inventory and pricing data in a given market or across a larger platform. The data provides another resource for local managers to price and package their inventory based on market conditions."Our stations have taken an enormous step forward -- we've replaced the 'gut instinct' approach with informed analysis and decision-making," Hogan says. "This is the right decision for our business -- and the right way to drive higher yields at individual stations, entire clusters and across the country."Clear Channel Radio serves local communities across the United States with more than 110 million listeners choosing Clear Channel Radio programming each week.Visit Clear Channel Radio: www.clearchannel.com"