Mel Karmazin was noticeably frustrated with the current state of advertising sales on today’s conference call with analysts.
“It’s been a source of frustration for me because I believe that we ought
to be generating significantly more advertising revenue than we have
done so far,” said Karmazin.
“We’re doing about $35 million and it’s up dramatically and I can give
you the spin story that says how well we’ve done but when you take a
look at having Howard Stern for the first time in his career having a
pure national platform and being as strong as he is, we ought to be
doing a better job in selling Howard.
“We ought to be doing a better job
than we are doing now,” he added.
“I had said on a call two years ago that I would like to see advertising
represent 10% of our revenue. That is something that we’ve not
achieved. There is no reason that I can think of as to why we shouldn’t
one day be able to achieve it and that’s doing it without ever putting
a commercial on our commercial free music stations.
“We ought to be
doing a far better job of convincing advertisers that satellite radio,
this new industry deserves to get more of their advertising dollars.”
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