Howard Stern is going to be a judge on the NBC show “America’s Got Talent,” this summer and Wall Street is already betting this is going to benefit the shock jock’s satellite radio home, SiriusXM Radio.
When Pandora shares took a dive last week several people pointed out that its dip came soon after the number one U.S. radio company Clear Channel Inc launched a customized radio application announced with a press release which didn’t shy away from drawing comparisons with Pandora.
People say you shouldn’t trust the government, but their news about the declining health of the newspaper and radio business is hard to dispute. Read the Census Bureau’s press release, out on Wednesday, about the tough times hitting the business in 2008, the most recent year for which comprehensive data has been compiled:
Over the last few days executives at Goldman Sachs’ Communicopia have talked about a stabilizing — or even improving — advertising market.
Here are some of the day’s top stories in the media industry:
Verizon Planning Its Own App Store (Business Insider)
Preethi Dumpala writes: “The main idea: Verizon wants to be the company connecting its customers with apps — not necessarily its handset partners. And it wants to avoid becoming an even dumber pipe. Depending on how it’s set up, this could clash with gadget makers’ plans.”
In case you hadn’t noticed, this isn’t exactly a great environment for wheeling and dealing. That only compounds the challenge CBS CEO Les Moonves faces in trying to reshape his radio division — it’s not like there was a thriving market for radio station M&A before this whole credit crisis.
NBC is once again stuck in last place in prime-time ratings; its much-hyped Olympic coverage is over, so are the elections; advertising across media is under pressure; and dishing out $67 to hang at the Universal Studios theme park probably isn’t as appealing when you could soon lose your job, house, car, etc.