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Tuesday, September 15, 2009

New billing leader in Syracuse after 30 years: Galaxy

Galaxy Communications says it broke Clear Channel’s 360-month top-billing streak, for the month of August. CEO Ed Levine says “how we did it is the story", referring to the strategy of creating and owning local events that the stations can promote and sell. Levine says “the radio and the events are totally interwoven, to the point where the events revenue (ticket sales, sponsorship, concessions, merchandising) year-to-date comprise 40% of Galaxy revenue.” He believes the strategy “can work in every market in America.” The Syracuse market is down 11% year to date in Miller Kaplan-estimated revenues. But Galaxy is actually ahead 7%, with lesser technical facilities (four Class A FMs) than its main competitor.

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