“Cash for Clunkers” jump-starts radio.
Auto dealers rushing to boost their media buys to promote the federal program has largely been good for radio according to several executives who’ve sounded off on the program over the past few weeks. Regardless of the political debate, Regent CEO Bill Stakelin says, “We’re selling lots of automotive advertising.”
CBS CEO Les Moonves agrees cash for clunkers was a “real shot in the arm” for national and local media outlets. “It really helped,” he says, telling investors it should motivate other categories. “It gives you great encouragement that when they see some light at the end of the tunnel, which they are beginning to do, the money is going to start coming in.”
Others are more cautious. Entercom CEO David Field says there is “some level of pickup” in auto spending, but he’s reluctant to connect it to the “Cash for Clunkers” program.