The industry faces heavy layoffs, furloughs and salary reductions as advertising dries up, but many execs and analysts are optimistic.
Why? Radio excels during a crisis. With the coronavirus pandemic wreaking havoc on the U.S. economy, postponed live events and temporary retailer closures have created ripples through local economies and hammered radio stations.
Over the last three weeks, with Americans ordered to stay home and abide by social distancing rules, investors have rightly grown concerned of the fallout's affect on advertising revenue.
As the saying goes, radio isn't in the music business; radio is in the advertising business. So when local businesses close or pare down budgets at the onset of financial hardships, radio stations