Reds' Selling Of Own Radio Ads Leading To Increase In Revenue
The Reds' decision to "start selling their own advertising for their radio game broadcasts is contributing to an increase in revenue that could translate into a player payroll of around" $80M for the '09 season, up from $74.1M in '08, according to John Fay of the CINCINNATI ENQUIRER. Reds COO Phil Castellini said that radio revenue is "up 30[%] over the previous three years and total corporate sales revenue is up 140[%] over the same period." Castellini: "We put 100[%] of that into the team." The Reds had about $9M in sales revenue before current ownership took over before the '06 season, and a 140% increase would "put sales revenue at more than" $21M. Castellini said that the Reds selling their owner radio ads was "a challenge," but added that "it's ended up being 'a home run.'" Castellini: "It's worked out great. We're very pleased." In '07, Reds radio rights holder WLW-AM paid $3.8M in rights fees to sell ads, but with the team now holding the rights, the Reds "can bundle their advertising sales -- including radio time, ballpark signage, scoreboard displays and corporate sponsorship -- out of the same operation." The Reds also "commissioned Arbitron to do a study" of the team's radio ratings "rather than rely on paper diaries filled out by listeners." The study "found that 40[%] more people were listening to Reds games than the traditional diary surveys found." The Reds radio network also added eight stations, including one in Frankfort, Kentucky, and is up to 55 affiliates (CINCINNATI ENQUIRER, 12/7).
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