Wednesday, November 13, 2019

| November 13, 2019

Salem Third Quarter Revenue Down 2.2%. Total revenue for the third quarter of 2019 for Salem Media Group, Inc. was $64.1 million, down 2.2% from the same period in 2018.  It also posted an operating loss of $14.5 million in Q3 compared to operating income of $6.3 million a year ago.  Salem is reporting a net loss of $20 million, or $0.75 net loss per share, “impacted by a $17.5 million loss on the disposition of assets and a $1.9 million impairment of indefinite-lived long-term assets other than goodwill, compared to net income of $1.2 million, or $0.05 net income per diluted share in Q3 of 2018.  Salem breaks its divisions down into three segments: Broadcast, Digital and Publishing.  In the third quarter, net broadcast revenue decreased 2.3% to $47.7 million from $48.8 million.  Same station net broadcast revenue decreased 1.4% to $46.5 million from $47.2 million and same station SOI decreased 11.4% to $10.6 million from $12.0 million.  Digital was also down 12% for Salem to $9.1 million.   However, publishing revenue increased 15.3% to $7.3 million from $6.3 million.  Salem also reports a $17.5 million ($13.0 million, net of tax, or $0.49 per share) net loss on the disposition of assets which includes a $9.9 million estimated pre-tax loss for the pending sale of radio stations WAFS-AM in Atlanta, Georgia, WWDJ-AM in Boston, Massachusetts, WHKZ-AM in Cleveland, Ohio, KEXB-AM (formerly KTNO-AM) in Dallas, Texas, KDMT-AM in Denver, Colorado, KTEK-AM in Houston, Texas, KRDY-AM in San Antonio, Texas and KXFN-AM and WSDZ-AM in St. Louis, Missouri, a $4.7 million pre-tax loss from the sale of radio stations WWMI-AM and WLCC-AM in Tampa, Florida and WZAB-AM and WOCN-AM (formerly WKAT-AM) in Miami, Florida, a $1.6 million pre-tax loss from the sale of radio station WDYZ-AM (formerly WORL-AM) in Orlando, Florida and a $1.3 million pre-tax loss on the exchange of radio station KKOL-AM in Seattle, Washington for KPAM-AM in Portland, Oregon.

DeMann Named Director of Programming for JVC’s Florida Stations. Programming pro Stevie DeMann joins JVC Broadcasting as director of programming for the company’s Florida radio station group that includes talk WDYZ-AM, Orlando and WYGC-FM, Gainesville “Florida Man Radio 660AM/105.5FM” and five music brands.  DeMann was most recently operations manager for Cox Media Group’s Orlando cluster.  DeMann says, “I wanted to find the right situation before getting back into the business.  The team at JVC Florida is the best.  From management to programming, sales and promotions, they are all pros that love working together to create successful local content, events, and promotions.  I am thrilled and thankful to CEO John Caracciolo and EVP Shane Reeve for trusting me to ensure our on-air product is the best.”  Caracciolo comments, “Our company is in rapid-growth mode and we require someone with a significant and successful programming background to show that live and local radio is what listeners and clients want and can be done well.  Stevie’s history and background in Orlando allows JVC such a leg up on the competition in that market.  His experience in big markets like Boston, Orlando, and others will lend a tremendous hand with our already successful team in Gainesville-Ocala.  I am very excited about the future of JVC in Florida and across the country!”

TALKERS News Notes. In Miami, sports radio personality Brian “The Beast” London exits his position with Entercom’s sports talk WAXY-AM, Miami “790 The Ticket” where he was a cast member on the “Tobin & Leroy” morning show and assistant program director for the station…..Today, Lexington, Kentucky news talk WVLK “97.3FM/590 AM” is airing a nine-hour broadcast dedicated to addressing the opioid crisis and how it impacts Central Kentucky and the Commonwealth.  Titled, “Enough: Opioid Awareness Day,” the Cumulus Media station is partnering with Lexington city government, local organizations, and businesses to present the personal stories of addiction and recovery, city and state programs designed to help, the physical and physiological effects that lead to addiction, and alternatives to pain medications…..Envision Networks’ “GeekOut” celebrated the airing of its 500th episode this past weekend.  The daily audio and video vignettes are hosted by Peter Welpton, formerly managing director and resident technology “guru” for longtime, syndicated hosts “Lex and Terry.”  Envision says, “‘GeekOut’ is a daily vignette highlighting everything techies love.  Each episode covers a variety of topics including technology, movies, video games and all things geeky.”…..Lemonada is announcing its third original podcast, “Good Kids: How Not to Raise an A**hole,” is premiering on November 26 with five episodes.   Lemonada co-founders Jessica Cordova Kramer and Stephanie Wittels Wachs say the new series “is a podcast for anyone in the trenches of parenting or anyone with an opinion on parenting (see: everyone).  For 15 minutes each week, a diverse set of parents, teachers, policy makers, and world shapers grab the mic and offer relevant advice, rants, and reflections on child-rearing today. It’s funny, touching, helpful, and exactly what the world needs right now.”  Earlier this year, Lemonada Media partnered with Cumulus Media’s Westwood One to distribute, sell, and build audiences across the Lemonada network…..There’s a new iHeartRadio Original podcast launching titled, “The Women.”  It’s hosted by Rose Reid and features “personal and candid interviews with some of today’s female changemakers – including artists, politicians, amateur kickboxers, mothers, and lovers – who didn’t back down in the face of resistance.”  Episode one features former CIA agent and current New Mexico congressional candidate Valerie Plame.  Plame revisits the year 2003, when she says the Bush administration blew her cover in retaliation for a critical op-ed written by her husband…..PodcastOne announces the debut of the “Adulting Like A Mother Father” podcast in partnership with The Direct Message Network.  New episodes each Tuesday feature actress and entrepreneur Daniella Monet and her fiancé Andrew Gardner navigating parenthood and defining what it truly means to “adult.”

Impeachment Process/Ukraine Affair, 2020 Presidential Race, SCOTUS Hears DACA Arguments, Trump-Erdogan Meeting, Bitter Cold U.S. Weather, Hong Kong Violence, and the NFL’s Kaepernick Workout Among Top News/Talk Stories Yesterday (11/12). The impeachment process against President Trump and allegations against him in the Ukraine affair; the Supreme Court hears arguments about the status of the Obama Administration’s Deferred Action for Childhood Arrivals act; the controversy surrounding President Trump’s scheduled meeting today (11/13) with Turkish President Recep Tayyip Erdogan; the unseasonably cold weather affecting the U.S. north and east; the violent protests in Hong Kong; and the NFL-organized workout for quarterback Colin Kaepernick were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.

Westwood One: AM/FM Radio Gets Out the Vote. The latest installment of the Westwood One blog uses Nielsen Scarborough data and Nielsen Media Impact to show that AM/FM radio is a consistently effective tool “for political campaigns needing to cut through the clutter.”  Some of the conclusions drawn include: AM/FM radio has mass reach: according to Nielsen Scarborough data, AM/FM radio reaches 88% of likely voters, more than the Internet (85%), TV (83%), and Facebook (62%). AM/FM radio also has significantly greater reach among likely voters than SiriusXM(18%), Pandora (17%), and Spotify (10%); AM/FM radio reaches Twitter users: with the recent announcement that Twitter will no longer take political ads leading up to the 2020 election, AM/FM radio steps in to fill the void. According to Scarborough, AM/FM radio (88%) outreaches Twitter (18%) among likely voters. Among likely voters, 90% of Twitter users are reached by AM/FM radio. By investing in AM/FM radio, political campaigns get virtually the entire Twitter audience for free; AM/FM radio reaches every key voting segment: 88% of Democrats, Republicans, and swing voters are reached weekly by AM/FM radio; and AM/FM radio makes your TV better: according to an actual U.S. Senate campaign run in Nielsen Media Impact for an October 2018 media buy, a TV-only media plan achieves a 79% reach. Reallocating 20% of the media budget to AM/FM radio boosts reach to 90%, a +14% increase in incremental reach versus just TV alone for the same budget.  Read the blog here.

NPR and Edison Research: Spoken-Word Audio Consumption Up 20% in the Last Five Years. During yesterday’s webinar, NPR and Edison Research revealed data from The Spoken Word Audio Report that examines listener behaviors and preferences related to spoken word audio – podcasts, news, sports, talk radio, and audiobooks – and includes five years of previously unreleased data from Edison Research’s Share of Ear study.  Among the findings of the report are: The share of time spent listening to spoken word audio has increased 20% since 2014, while time spent with music across the same period decreased 5%.  This shift is led by a dramatic increase in spoken-word audio consumption on mobile devices across age groups and increases in spoken word share among those ages 13-34.  Other findings include: 121 million Americans listen to spoken-word audio each day, an increase of 16 million people in the last five years; growth in spoken-word listening has been greatest among young people: those age 13-34 now spend 19% of their audio time with spoken-word audio (up 58% from 2014); mobile technology use is driving growth in spoken-word audio category: 22% of listening to spoken-word audio in 2019 is now on a mobile device, compared to 9% five years ago; and spoken-word audio yields deep connections and involvement from its consumers, with large percentages of consumers reporting they turn to spoken-word audio content for information, inspiration, entertainment, and companionship.  See the study here.

Music Radio News and Career Moves. Programming pro Dylan Salisbury is appointed program director for Cumulus Media’s CHR KKMG, Colorado Springs “98.9 MAGIC FM.”  He moves west from the company’s Indianapolis CHR WZPL where he was serving as assistant PD and music director…..Envision Networks’ “Full Metal Jackie Radio” starring Jackie Kajzer adds Beasley Media Group’s rock WRXK-FM, Ft. Myers “96K-Rock” to its affiliate list as the station adds the program to its Saturday night program schedule. Kajzer is the KILPOP 2018 Metal Programmer of the Year and a four-time FMQB “Metal Host of the Year” recipient for her work on “Full Metal Jackie Radio.”…..Another round of on-air staff reductions at an Entercom cluster, this time in Miami as on-air pro Todd Durkin exits the morning show at country WKIS “99.9 Kiss Country,” classic hits WMXJ “102.7 The Beach” midday host Jade Alexander Mia leaves, and adult contemporary WLYF “101.5 LITE-FM” afternoon personality and APD Kimba is out…..In Madison, three on-air personalities are gone from the airwaves at Midwest Communications stations.  Julie Jacobs is gone from the midday gig at adult contemporary WMGN “Magic 98.”  Dave Ogden exits the middays/APD role at country WWQM “Q106,” and Jason Ryan loses his evening host/traffic reporter gig on “Q106.”…..Cumulus Media’s Westwood One offers a four-hour, Thanksgiving country radio special hosted by CMA and ACM award-winning, multi-platinum artist Luke Combs.  Luke and his friends are going to talk food and traditions with a side of gratitude and a lot of music. Guests joining Combs on the show include: Blake Shelton, Florida Georgia Line, Thomas Rhett, Keith Urban, Carrie Underwood, Dierks Bentley, Old Dominion, and Kelsea Ballerini.

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Category: Front Page News, Industry News