MUMBAI: Arbitron Inc. today announced that Clear Channel Radio has signed multi-year, multi-market contracts for Arbitron’s Portable People Meter and diary radio ratings services. These agreements extend Clear Channel’s access to Arbitron radio ratings and other services in all of Clear Channel Radio’s markets through December 31, 2016.
“Arbitron’s PPM and diary ratings are an integral part of the radio buy-sell process for both terrestrial and digital outlets. We’re gratified that Clear Channel Radio, our largest client, has ensured its continued access to Arbitron services by renewing our partnership on this long term basis,” said William Kerr, President and Chief Executive Officer, Arbitron Inc. “Going forward Arbitron and Clear Channel will be working closely with other radio groups in an industry-wide advocacy program to further promote the value of radio as the ultimate audio-powered and community-driven medium,” said Mr. Kerr.
“In today’s competitive media environment, advertisers and agencies increasingly demand accurate and timely data to inform their buying decisions,” said Clear Channel Radio President and CEO John Hogan. “Arbitron’s PPM and diary ratings validate the great power of our medium and our platforms – and help us demonstrate every day how well we deliver on radio’s unique ability to engage audiences.”
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Clear Channel is Arbitron’s largest radio ratings subscriber and represented approximately 19 percent of Arbitron’s revenue in 2009.
Arbitron has filed with the Securities and Exchange Commission a Current Report on Form 8-K that contains more information regarding the agreements. A copy of the Current Report on Form 8-K can be found on the Arbitron Web site.
In a separate announcement also released today, Arbitron has provided full-year 2011 guidance for revenue and earnings per share.
