Wednesday, April 30, 2014

Cumulus To Launch Another NASH Station In A Top 10 Market

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During Tuesday's earnings call, CEO Lew Dickey told analysts that Cumulus sees  country music as a 90 million person consumer segment.

"It's a quarter of the U.S. adult population. So it's not regional. It's a very large segment. We've got over 1 million people in New York City that listen to our NASH station. And we'll be announcing a NASH station in another top 10 market in the next -- probably in the next 60 days."

According to Dickey, country music is a very large and popular lifestyle or type or genre of music. "The NASH brand is, in essence, a way to package that and to create through multiple platforms and using the leverage of that to create access for advertisers to -- for -- and for listeners or consumers, if you will, to embrace this brand and to self-identify with this brand and provide a marketing channel through the various components of this brand, whether it be audio, video, digital, print, events and ultimately, licensing and merchandise."

He added, "The NASH brand is quite friendly. It's uniquely American and it is, quite frankly, it's exportable. So I think it does go beyond our borders as evidenced by the ticket sales and the reaction overseas. We've already had requests from some international broadcasters on, can they affiliate with NASH. And so I do think there's going to be licensing opportunities and the ability go beyond our borders, but we're very, very focused obviously on building this platform out right now."

Dickey also stated Cumulus expects the NASH brand to do $25 million of incremental revenue next year.

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