SPAIN: Pandemic dries up budgets and radios cut back

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Commercial radio stations have lost more than 20 percent of their turnover and need to save money
Pepa Bueno and Carlos Herrera, like other Iberian radio stars, risk a cut in their salaries for the whole of 2021: commercial radio stations have lost more than 20 percent of their turnover and need to save money
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The economic crisis caused by the pandemic is having an impact on broadcasters’ turnover, which according to the InfoAdex study on advertising investment in Spain in 2020 will drop by 22.9% for all stations. This is a total of 111.5 million euros that will be lost and which will impact mainly on the large commercial networks such as Cadena Ser and Cope (which have lost 25.4 and 24.4% respectively). Broadcasters consider intervening again in the contracts of the big stars (including Pepa Bueno and Carlos Herrera), cutting them for the second consecutive year and probably until the end of 2021. And the situation shows no sign of improving, as the January 2021 InfoAdex figures put the decline at 26.7%.

More details on the smaller radio stations in the article by the independent newspaper El Español.

SPAIN: The Prisa Group divests abroad

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The Prisa Group divests abroad
Prisa, Spain’s leading media group, is present in 24 countries. The radio brands are Cadena Ser, Los 40 Principales and Cadena Dial
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Before splitting its activities into two branches, the company with the largest number of radio stations in Spain divests abroad. If in the domestic market the Grupo Prisa refuses offers, abroad it has divested three radio and television companies. After Panama, with Los 40 Principales, the divestments continued in Portugal with the Media Capital group, which in addition to radio stations (Comercial and M80) owns a TV chnnel (TVI), an audiovisual production company (Plural) and a portal for digital natives (Iol.pt). In Argentina, instead, it has sold two radio stations in the capital: Radio Continental (104.3) and Los 40 Principales (105.5).

More details in the article of Economia Digital.