The last contract signed for five years puts him above other figures such as Luis del Olmo, José María García or Iñaki Gabilondo.

The last contract signed for five years puts him above other figures such as Luis del Olmo, José María García or Iñaki Gabilondo.

The last contract signed for five years puts him above other figures such as Luis del Olmo, José María García or Iñaki Gabilondo.

Carlos Herrera, in Cope's studio, in a file image.

“The leadership vocation that we have experienced in these last five vertiginous years in which we have won the favor of the listener, I want to complete it with another time so that it is incontestable. I only know how to do this. It can be better or worse, but I only know how to do radio. And after a year like the one we’ve lived through, being able to tell it all is something that anyone is excited about and knowing that I don’t know how to do anything else, how could I miss what awaits us?

Last Wednesday the bomb jumped. Carlos Herrera and Cope They confirmed that the communicator was renewing for another five years at the Episcopal Conference station. An announcement that caught the entire sector, the world of politics and the members of the station’s staff by surprise.

A contract that will break all records of longevity, validity and economic value for a radio star. In 2025 Herrera will be 68 years old and will fulfill what could be the greatest commitment signed by a great figure until now. The sources consulted by Invertia indicate that at least it would reach 35 million euros for the entire periodsomething that other great icons of the waves such as Luis del Olmo, Iñaki Gabilondo or José María García.

Unlike other occasions, this time no details of the contract were leaked to the press. Until now. Information confirmed by this newspaper indicates that Herrera’s new contract until 2025 reduces the figures of his two previous commitments -which only lasted three years-, although it extends the duration further and achieves a long-term commitment, which in global terms is more profitable for both parties. At the end of the same Herrera will celebrate a decade in the chain.

However, as Invertia has learned, the contract has a very important exception in the form of a Covid clause which imposes a cut in his salary of between 10% and 20% depending on the circumstances and until the pandemic affects Cope’s accounts. Since before the summer, the entire station has been immersed in a social plan that has cut salaries between 10% and 40% for the workforce and this contract reflects this exceptionality by sending a message: “If Herrera can lower their salaries, everyone we can do it”.

Carlos Herrera along with Pilar García Muñiz, who takes over first thing in the morning.

Carlos Herrera along with Pilar García Muñiz, who takes over first thing in the morning.
cope

discount for covid

At the moment, the reduction applies to the 2020 season and everything indicates that it will continue until 2021. In principle, if everything returns to normal – which is saying a lot – Herrera would return to the salary he had before the crisis in 2022.

In the annual computation the current salary would be lowered, which was around eight million euros per year, but globally it is close to figures never seen before for a communicator in Spain. If the Covid cut is included, even for the entire period, in the worst case Herrera would earn about seven million per season, which multiplied by five, brings us to a whopping 35 million for the entire period.

Another caveat. Like other great communicators, this amount includes collaborators and members of his team, although in the case of Herrera this figure is lower, because the bulk of his technicians and his newsroom were already at the station when he landed in 2015 and they’re on Cope’s roster. In other words, these seven million are divided into fewer hands and, logically, Herrera takes the biggest part of the cake.

“The agreement interests them both. Herrera is motivated to reach the leadership and with the political war in which he is the protagonist, he ensures five years in which he can see the current government fall. In exchange, Cope saves money that in times of crisis can come in handy“, Says a radio director aware of the negotiations.

In the case of Cope, there is one more explanation for asking Herrera for a five-year contract: the sports team. All the stars of this section such as Paco González or Manolo Lama renewed until 2025 and the historical desire of the station was that its two great bastions, Herrera and Sportshad a contract with the same duration and for the same period of time.

Fernando Giménez Barriocanal, president and CEO of Cope, and Herrera's main supporter.

Fernando Giménez Barriocanal, president and CEO of Cope, and Herrera’s main supporter.

Economic importance

That resulted in Herrera ‘merging’ the last year of his current contract (the season that began this month) with the new commitment, adapting the times to what the Sports team had already signed.

The sources consulted insist that Cope’s audience and billing depend on Herrera and Sports and that in times of pandemic and collapse of advertising revenue, having them together -and for a long period of time- is a guarantee of continuity and peace of mind to face the hard times ahead.

In fact, before the signing of the communicator, the station was bogged down in one of its worst financial crises, but after the arrival of the Andalusian everything improved and Four years of consecutive profits have been chained.

But the decisive fact that reflects this importance is advertising investment. The data published by Infoadex indicate that the bishops station had a turnover of 113.5 million euros in advertising during the 2019 academic year, which already places it with 27% of the radio market share.

Luis del Olmo, Carlos Alsina, Pepa Bueno, Carlos Herrera and Iñaki Gabilondo.

Luis del Olmo, Carlos Alsina, Pepa Bueno, Carlos Herrera and Iñaki Gabilondo.

‘historic’ presenter

In 2015, the last full year without Charles Herrera, the chain had a turnover of 88.8 million euros and an advertising market share of 19.5%. This is how Cope has increased his income by 25 million euros in four years. And much of this amount, thanks to the strength of its communicator.

In short, a great agreement for both parties. Herrera becomes ex officio the highest paid communicator, not only today, but above other great historical figures. In the good old days of him in Zero Wave and before he left the station to go to Radius Point In 2005, Luis del Olmo earned about 1,000 million pesetas, which in exchange would be just over six million euros a year.

The same thing happened with Jose Maria Garcia, that before his retirement in 2002 he earned some 1,100 million pesetas -a little less than seven million euros- at the height of his career as president of Admira Sport, the media subsidiary that Telefónica would later close. The difference between Luis del Olmo and García with Herrera is that they never signed such a long-term contract with these high figures. Herrera could end a decade earning an average of seven million per season.

In the case of Inaki Gabilondo, he was never close to these figures on Cadena Ser. At his best moment he slightly exceeded three million euros, a figure that rose to four million when he signed for the television network Fourin 2005.

If his contract is fulfilled until 2025, Herrera will also achieve the record of being the longest-serving presenter with a radio mega-contract.louis del elm left Onda Cero at the age of 67 and in Radius Point he was never on top again; Garcia he retired of his own free will at the height of his popularity, at the age of 59; and Gabilondo left decades of leadership in Day by day with 63 years. Herrera would leave him with 68… if everything is fulfilled.

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