Stations “are confronting plummeting advertising sales and enormous operational challenges,' according to NAB President and CEO Gordon Smith
opened a virtual show on Wednesday with a far different scenario than envisioned just a few months ago — the dire situation for some radio and TV stations amid the coronavirus pandemic.said, “We know this is likely the most challenging time local stations have ever encountered. This pandemic has crippled our nation’s economy, and our industry has not been spared.”
Radio stations have been hit particularly hard, as local advertising from such categories as car dealerships and local events dries up because of widespread shutdowns and stay-at-home orders. Unlike TV stations, which have another revenue stream via retransmission fees, radio outlets do not. The NAB and another trade group, the News Media Alliance, representing newspaper publishers, have been lobbying Congress to enable a wider scope of local media outlets to qualify for forgivable small-business loans through the Paycheck Protection Program.
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