Emmis Reports Fiscal Q4 Results; Smulyan “Significantly Outperformed Our Markets.” Emmis Communications reports the results of its fiscal fourth quarter (which ended February 28, 2013) for 2013 with net revenue up 2%. Chairman and CEO Jeff Smulyan stated up front during the investor’s conference call, “I could not be more proud of what happened last year and I could not be more proud of what’s happening now. Because of our unique reporting structure, we have a pretty good handle on what the first quarter of our next fiscal year will look like and we’re equally pleased with that. I think it was a transformative year for Emmis for a couple of reasons. I think we solved this industry’s most vexing problems with capital structure and we did it because we have a unique culture here and a culture that I think stands out and I think people are starting to understand that their culture makes a difference.” Chief financial officer and COO Pat Walsh broke down the financials a bit, stating, “Pro forma for our station divestitures, radio net revenues consisting solely of our domestic stations grew 3%. Revenues in markets where Emmis competes, excluding barter revenues, grew 2.8% during the quarter. Emmis’ pro forma radio revenues reported on the same basis to Miller Kaplan grew 4.2%…automotive was once again our largest category, representing 11% of revenues, with the category growing nearly 20% as U.S. auto sales continued to accelerate. Wireless and financial services also exhibited strong growth at approximately 20%. Education and media also showed high mid-single-digit growth, high – mid to high single-digit growth. Other top ten categories such as restaurants, entertainment, healthcare and retail showed flattish growth with beverages off during the quarter.” During Q&A, Smulyan answered a question about whether IP-based services are sapping AM/FM audience. Smulyan responded, “We’ve been streaming like most of our brethren for almost 17 years and we haven’t cracked the code. We know Pandora hasn’t cracked the code. We know TuneIn hasn’t cracked the code or Spotify, so we know that that’s a challenge. I have one friend in the industry who says, let’s be honest. When we take a terrestrial listener at a 35% or 40% margin and we can convert that same listener to an IP-based stream, that listener goes from a 30% or 40% margin to zero.” Thanks to Seeking Alpha for the transcript. Read the entire call here.
Entercom Reports Revenue Down 2% in Q1. Entercom announces financials for the first quarter of 2013 and reports net revenue down 2% on $78.4 million. Station operating income was flat at $20.5 million and free cash flow increased from $1.2 million to $3.9 million. Entercom CEO David Field noted the drop in net revenue was offset by a 3% decline in station expenses. Regarding sales during the first quarter, Field said, “Local and national revenues were essentially the same with both down low-single digits. Our best-performing markets were Indianapolis, Kansas City, Memphis and New Orleans. Top-performing categories were financials, travel, telecom, home improvement and drugstores.” Looking at the company’s status in general, Field stated, “It is important to reiterate that our efforts to pursue smart ways to reinvent our business model have not come at the expense of reinvesting in our future. To the contrary, we continue to boost our investment in new brands and content, expanded distribution, better operating systems and enhanced digital platforms to strengthen our value proposition to our listeners and customers and create new revenue opportunities. And we are very pleased with the state of our brands. We had a very solid set of winter ratings results and like how we are positioned in our markets across the country.” Again, thanks to Seeking Alpha for the transcript. You can read the entire conference call here.
Arbitron Releases ‘Radio Today 2013’ Study to Clients; News/Talk #1 PPM Format. The full study is only available to Arbitron clients but here are some of the takeaways from “Radio Today 2013”: “News/Talk/Information and Talk/Personality remained the number one format in PPM markets and was number two in the rest of the U.S. The 2,121 rated AM, FM, HD Radio, and streamed stations in these formats far exceed any other format. Like other spoken word formats, they rank prominently in highly educated, high-income listeners.” And relative to TALKERS magazine’s analysis of the shared audience between news/talk and country in Jeff McKay’s piece above, the Arbitron report notes that “country and new country, already number one in our report last year, grew again to remain in first place and reach another record audience share. The format benefited most from an influx of listeners aged 18-24 and is even number two among teen listeners nationally.”
Odds & Sods. Journal Broadcast Group’s WTMJ, Milwaukee (along with its sister TV station with the same calls) was honored at this past weekend’s Wisconsin Broadcasters Association annual “Awards Gala” for broadcast excellence. WTMJ won radio news station of the year and radio station of the year. The station also won nine other awards including best radio show for “Midday with Charlie Sykes.”…..Andrew Marcus, director of the new film “Hating Breitbart,” which explores the life and impact of the late media guru Andrew Breitbart, will debate Wade Rathke, the founding organizer of the Association of Community Organizations for Reform Now (ACORN) on Rathke’s radio show. The show will air on May 17 at 10:00 am ET on KABF-FM, Little Rock, Arkansas, where ACORN was founded…..Entertainment Weekly editor Jess Cagle will moderate a Town Hall special on SiriusXM with film star Hugh Jackman on May 28 at 7:00 pm ET. Entertainment Weekly operates its own channel on the satellite radio service.
Radio America’s Dr. Joy Browne Program Adds 10 Affiliate Stations. The nationally syndicated Dr. Joy Browne program – now distributed by Radio America – picks up 10 new affiliate stations for the longest-running radio show of its kind. New to the program are: WWRL, New York; WSNO, Montpelier-Barre-St. Johnsbury, Vermont; KHGG, Ft. Smith, Arkansas; WNIX, Greenville, Mississippi; KWBW, Hutchinson, Kansas; WIMS, Michigan City, Indiana; WFEB, Sylacauga, Alabama; and KVPI, Ville Platte, Louisiana.
Internet Talk Station, LA Talk Radio, Continues to Grow – Adds Maria Sanchez to Daily Line Up. Veteran talk radio host Maria Sanchez is now part of the growing LA Talk Radio team as the host of her own daily live radio program, “The Maria Sanchez Show.” The show covers current events, newsmakers and lifestyles. As a woman, a mother, and a Hispanic, Maria is being presented by LA Talk Radio as having “a unique perspective that is not represented in most of radio.” A 20+ year career in radio, she developed her skills in the medium as a talk radio talent at KFI, Los Angeles, a weekend host and substitute host for such personalities as Bill Handel, John & Ken, and Phil Hendrie. “I am thrilled to be back behind the mic and to be working with LA Talk Radio! The ability to be relevant, topical, and without commercial interruption is a fabulous opportunity to really explore topics and guests” says Maria. Sam Hasson, owner of LA Talk Radio, tells TALKERS, “We look forward to a long and storied relationship with Maria, a true pro in the radio industry.”
24th Annual Imus Radiothon Airs on WABC, New York Next Week. WABC, New York-based Don Imus will broadcast the 24th annual “Imus Radiothon for the Imus Cattle Ranch for Kids with Cancer” next Tuesday and Wednesday, May 14 and 15. The radiothon will also be broadcast to Imus show affiliates and be seen on Fox Business Network from 6:00 am to 10:00 am ET.
The Georgia Radio Hall of Fame Announces Candidates for Career Achievement Awards. The Georgia Radio Hall of Fame announces the Career Achievement candidates. Members will cast their votes in July and eight Georgia radio professionals selected will be announced in October. The 7th Annual Induction Awards Ceremony will be held Saturday October 19, 2013 at the Atlanta/Marietta Hilton Hotel and Conference Center. The 2013 candidates (some positions are former) are: Harry Beadle, newsman at WGST, Atlanta; Tom and Paul Collins, The “Tiger Twins” on WQXI, Atlanta; Bill Edwards, host of “Good Morning Savannah” on WTKS, Savannah; Robert “Flash” Gordon, morning host on WKZK, Augusta; Steve Goss, host of “Morning Edition” on WABE, Atlanta; Charlie Hill, announcer at WCEH, Hawkinsville; Kaedy Kiley, morning host on WRVR, Atlanta; Greg McClure, program director at WFOM, Marietta; Kelly McCoy, afternoon host on WSB-FM, Atlanta; Nelle Reagan, host of “Talk of the Town” on WRGA, Rome; Bill Rice, host of “Soul Session” on WLET, Toccoa; Mike Roberts, owner WQMJ, Macon; Deborah Richards, news director, WKHX, Atlanta; and Mark Summers, mornings at WBBQ, Augusta.