Tag: advertisers

Industry Views

Monday Memo: Who? When?

By TALKERS | by TALKERS

By Holland Cooke
Consultant

Does anybody really know what time it is? Does anybody really care? YES.

— Myth: Call letters are less important in PPM markets than in diary markets, where that diary is a memory test.

— Fact: Call letters and timechecks are MORE important in metered markets, because there aren’t enough meters. Every…single…one…matters a LOT. And awareness drives use.

Sure, listeners wear watches, and tote smartphones, and there’s a clock in the dashboard. We’re not timechecking because they don’t know.

— Timechecks help make the station habit-forming. They teach listeners what-we-do-when.

— Timechecks imply that busy people (the ones advertisers want as customers) will be on-time if they listen. “WINS News Time…” on New York’s iconic All-News station sets a tempo.

— And timechecks are local information. Syndicated hosts forced to say “[minutes] before the hour” remind us that they’re somewhere else.

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In its 1960s Top 40 heyday, WABC’s promos boasted that more people listened every week “than any other station in North America!” And shortly before his untimely death, retired PD Rick Sklar told me the simple secret of his success.

— He compared the Arbitron ratings diary to “that little blue book you got in school when there was a quiz. There are two questions on the quiz: What did you listen to? And when did you listen?”

— Back then, most stations used turntables, but WABC already played music on carts. And right there, at the end of the song, there was a WABC jingle, and an ear-splitting “DING!” because timechecks were “WABC Chime-Time.”

— So “we gave them the answers to the quiz,” by DJ-proofing the station. Even if the jock was going song-to-song, he had to jump-in and timecheck.

And you are…?

Holland Cooke (HollandCooke.com) is a consultant working at the intersection of broadcasting and the Internet. He is the author of the E-book and FREE on-air radio features “Inflation Hacks: Save Those Benjamins;” and “Spot-On: Commercial Copy Points That Earned The Benjamins,” a FREE download; and “Multiply Your Podcast Subscribers, Without Buying Clicks,” available from Talkers books.  Follow HC on Twitter @HollandCooke

Industry News

iHeartMedia Debuts Podcast Brand Safety Tool

By TALKERS | by TALKERS

iHeartMedia is launching new brand safety technology for podcast advertising powered by Sounder. iHeartMedia says it is the first to go live with Sounder’s AI and Machine Learning (ML) technology, giving brands episode-specific safety assurance, a level of precision previously unavailable in podcast inventory, at scale. Sounder says its technology is the first to help advertisers deem if a podcast episode is brand safeiHeart - Logo before an ad runs, enabling advertisers to plan and execute campaigns with confidence. iHeartMedia chief data officer Brian Kaminsky says, “Audio had been without a truly operative brand safety tool that gave advertisers the ability to run without risk at a national scale. The process was labor intensive, fragmented, and often failed to deliver the level of protection brands truly needed. We looked at every potential solution in the industry, and Sounder’s technology is far ahead when it comes to brand safety and suitability. This new tool changes the future and opens up endless possibilities. Brands are now able to opt out of content they deem unsafe and inappropriate. Our partnership with Sounder has set a new benchmark for transparency in audio advertising that has been long overdue.”

Industry Views

Maximizing Impact for Sponsors

By TALKERS | by TALKERS

By Michael Berry
Host, The Michael Berry Show
KTRH, Houston – iHeartRadio
Independent Syndication

Beard - ForeheadGrowing up in a small town, “word of mouth” was the most powerful form of advertising. It could make – or break – a business.  Malcolm Gladwell’s important Tipping Point book explained that movements, pandemics, and other things that “catch on” do so because of the influence of “connectors” – people who are asked for their opinion. Today, the media world likes to call them “influencers.”

For 17 years, I’ve entertained listeners on the radio and on podcast. Our show has built what many in the industry tell me is an impressive business model. Like Gladwell, I created our own vocabulary and I am strident in enforcing the use of it. Because words matter. I explain to companies that they are our “sponsors,” not “advertisers.” I explain that they put their name behind our show, just as I do for them. In a commercial break stop-set that will be several “commercials” for “advertisers,” but only a couple of my “endorsements.” I don’t speak for a company unless I believe in what they do and how they do it. Likewise, I encourage listeners to send me feedback on their experience with my show’s sponsors. I forward those to the sponsors, either with a request that they address the shortcoming in the service or an attaboy for a job well done.

Listeners tune in to radio, particularly talk radio, to hear the opinions of the host. The host’s opinion matters. If he shares his opinion on movies he likes, foods he enjoys, political candidates he supports, that opinion can affect what the audience does. It is also true that – if his recommendation is trusted by the listener – it can affect the choices the audience makes when they buy something or hire someone to perform a service. But it has to be an “endorsement.”

The radio industry, for many, many years, failed to recognize the value and power of an endorsement. Sellers would sell advertising to clients and get the on-air talent to read the copy points the client (or agency) wrote. Often listlessly, just reading. That is not an endorsement. It is not a host suggesting to his audience where he would personally buy a new door for his home, or take his wife for dinner. If, however, the “read” (a term that reflects that the host is simply reading words someone else wrote) were instead an endorsement, he wouldn’t need all those details. Instead, with just the name of the company, and the owner, and the phone number, as well as what category they are in, he would be able to speak for 30 seconds about why that business is special, why he would (and hopefully has already) use them.

An endorsement is a stamp of approval. It says you believe in someone or something. If an endorsement is really an endorsement, it doesn’t need new copy points to be “freshened up.” It doesn’t include discount offers, seasonal sales, “get in quick before they run out” scares, or other silly tricks Americans long ago learned to ignore. Using that language kills credibility. If I ask you where I should buy my car, and you have a dealer you believe in, you’ll refer me to them, and, if you really like them, call them yourself and ask them to take care of me. “Hook me up” as the kids say. I’m not going anywhere else after an endorsement like that.

Radio (and podcast) has a big future, because of the connection audiences have with hosts. Why abuse that connection? Why cheapen it? Sales reps should understand that and make it part of their pitch. My best sales reps literally dial up companies in industries I identify and start with the question, “Do you listen to The Michael Berry Show?” If the answer is no, I don’t want them as sponsors. I want folks who understand why I’m controversial, why my audience listeners, what my values are.

Radio and podcast’s future is dependent on a sound business model that understands what makes us special, unique, and better than other forms of media.

Here is my list of suggestions to sellers and hosts, in hopes of facilitating better results for show sponsors:

— Sellers should never pitch a client without asking the talent first.

— Talent should not endorse a company without researching and approving them.

— Talent should tell sellers what sorts of things they WANT to endorse. Guns, cigars, home improvement, cars, medical. The best endorsement is something the talent will use himself. An avid gun owner is going to present a very compelling (and effective/profitable) endorsement for a gun range he visits once a week. Look at how weight loss sponsors have profited when the host follows their program and endorses it on air.

— If a sponsor isn’t committed to a yearlong relationship, don’t do it.  It ruins credibility to change the endorsement inside the same category. Again, credibility is everything.

— Talent should develop personal relationships with sponsors. They can help listeners this way and the sponsors become show content.

— The value of talent to the station is far more than just ratings. Half my audience is 55+, so the 18-34 or 25-54 rating is less useful to me.  But when show sponsors stay on air for 10 or more years, it is a ringing endorsement that what we do works. They vote with their dollars. The whole point of ratings was to show agencies how many people listened, in hopes that that vast listening audience would respond to the commercials they hear, thus monetizing the show, right? Why not go straight to the “dollars in (from the sponsor), dollars out (listeners spending money with sponsors)” model?  Show sponsors who get tangible results from their partnership with talent don’t cancel their buy.

— Openly discuss how much money a talent brings into the station. The programming side of radio loves to talk about things that don’t generate dollars, while the sales side is often disconnected from the actual product they are selling.  Fix that.

Michael Berry is a longtime, high-ranking member of the TALKERS Heavy Hundred. He’s heard daily on KTRH, Houston and across the country on his own independent network.  Michael Berry can be emailed at michael@michaelberryshow.com.

Industry Views

Pending Business: How Are We Doing?

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

Talkers Magazine - Talk radioHow might we better serve you in the future? How would you rate our service?

These are two common questions you will see on many restaurant info cards as you pay for your meal. After all, the restaurant business is fundamentally based on great food and great service at a reasonable price. Think about this: If either of those two basic components, food (product) and service are missing, you are outta there!

Our radio/audio sales business is based on the same thing: great product and great service at a reasonable price. Yet, why is it you will never find yourself or a manager asking those questions as a part of your regular follow-up or follow-through routine? Oh sure, there is the ever-present pre-sell, “How can we help?” as your advertiser mutters, “lower rates,” under their breath. But seriously, no one above or below your pay grade can process or properly evaluate the answers to the two service questions posed, let alone act intelligently on the response. Could it be we still think our sales and management roles are rooted in show business and if we put on a great show delivering great ratings the advertisers will follow?

Some advertisers will show up, others need to be sold. With Zoom, Teams, programmatic, AI and other initiatives gaining more and more traction, the service improvements in salesmanship is becoming a lost art.

Time to hit the pause button, step back and learn from our friends in one of the oldest business categories on planet earth: hospitality. Let’s learn.

— Ask for feedback as you “serve.” Since my first meeting, my mantra for sellers and sales management was and still is, “How are we doing?” Go back to your winning and losing sales calls. Even managers should review meetings that did or did not move sales and ask, “How can I better serve______?”

— One step at a time. If you could improve just one thing to better serve an advertiser, what would it be? What could it be? Do you even know?

— Do you care? Ouch! Now that is a hard core, in-your-face question. Comfort zones are just so easy to occupy, we rarely push forward.

My real-world experience happened years ago when I asked our advertisers what we could do better to serve them. Many host-read advertisers wanted times sent to them in advance so they could hear the talent in real time. Every one of those advertisers became longterm fans. Do you send your advertisers host-read times in advance? Sometimes, it’s the little improvements that win big dollars when it counts.

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com

Industry News

PodcastOne Partners with VersusGame for Gamification

By TALKERS | by TALKERS

LiveOne subsidiary PodcastOne is partnering with VersusGame to offer its listeners “a fun and innovative way to engage with PodcastOne’s network of award-winning and top-ranked podcast hosts through gamification. Powered by VersusGame, PodcastOne has launched MiniGames on their platform, enabling their listeners to watch and answer prediction and opinion-based questions to win rewards.” The company says,Graphics - Logo “This endeavor marks an exciting introduction into gamification and monetization for PodcastOne, its host talent, and advertisers allowing them to create or sponsor relevant and topical content for fans that will reside on PodcastOne.com. MiniGames created by PodcastOne show hosts will also be distributed across the vast VersusGame MiniGames Network which includes over 900 verified hosts.” PodcastOne president Kit Gray says, “Our partnership with VersusGame is another way for us to capitalize on fan engagement. It’s a wonderful opportunity for us and for our hosts to engage with fans in an interactive way.  Offering users the chance to win financially, while also generating internal revenue is a win for everyone. Bringing gamification into the PodcastOne world brings our listeners into our shows in a whole new way. Now they get to engage directly with show hosts and participate in the conversation. It elevates the listener’s experience like never before.”

Industry Views

Pending Business: Your Trial Balloon

By TALKERS | by TALKERS

By Steve Lapa
Lapcom Communications Corp
President

Talk radio - Talkers MagazineIf you float a trial balloon, expect it to be shot down.

And to make the story driving the news headlines a better metaphor for our sales world, it should be noted that gathering information is always part of our mission. Sellers and managers should be floating trial sales balloons all the time.

Consider how many times we talk to our best advertisers to float an idea, a package, picking up a known talent or play-by-play rights to a popular team. But here is where the news story and our sales world take different forks in the road. Although the woods are full of downed sales balloons, it’s a good thing. Because in our sales world downed trial balloons mean we’re trying new things, communicating with our advertisers and not rocking along in the comfort zone. It also means some of these trial balloons make it to reality and become innovative ideas and viable sales opportunities.

I have certainly floated my share. There is a strategy behind floating a trial sales balloon to help you get the result you need. How do you improve the odds of a trial balloon becoming a sales reality? Here are some field tested tips:

— Determine your goals before you start. It’s so important to know what you’re looking for. Pricing input? Viability? Excitement? Sometimes sellers are so excited they misread the advertiser’s enthusiasm level. The reverse is also true. Sellers can be lukewarm as they focus on the transaction ahead instead of the first stage advertiser input.

— Ask permission. This is very important yet most sellers and managers never think about the advertiser reaction. What if they just don’t want to be surveyed? Always ask first.

— Confirm the confidence. Be sure everyone in your loop understands the trust you show in seeking their input.

— Keep your “ask” simple. You are asking for input. The simpler the ask, the cleaner the input.

— No commitments. Be clear the conversation you are having is early-stage preliminary to test the waters only. You are not even close to asking for a commitment, just sharing ideas and looking for input.

— Who wants to know? Be ready with the right answer.

Sellers and managers have been in the trial balloon business since the first ad was sold. Be sure to review your pre-flight check list before launching that next trial balloon.

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com

Industry Views

Monday Memo: “Try this…”

By TALKERS | by TALKERS

By Holland Cooke
Consultant

Joe Pags - Radio stationCompanies hire consultants to avoid experiments. We improve results by customizing and implementing Best Practices proven elsewhere. So, I’m about to break a rule, because advertisers in a super-opportune category have become a noisy blur.

Personal Injury: The gift that keeps-on-giving

Legal representation of purported victims of fender benders, slip-and-fall accidents, and other “injuries caused by the negligent, careless, or reckless actions of others” is an industry in which supply exceeds demand. Thus, all the outdoor and TV advertising. And too little radio.

In the Providence, RI TV market I watch at home, this category stands shoulder-to-shoulder with look-alike automotive spots in sheer dollars over-spent. And their message is the same on billboards:

— The attorney’s head shot (also a real estate agent cliché); and

— 6-figure settlements touted.

Because they’re all shouting the same thing, they resort to tactics:

— Attorney Rob Levine is “The Heavy Hitter,” and runs enough TV that viewers in Southern New England can sing the jingle: “The Heavy Hitter is the one for you. Call one-eight-hundred-law-one-two-two-two.” To his credit, it’s a different phone number than his web site offers, so he can track TV results.

— Easier to remember: Bottaro Law: 777-7777.

Watching local Las Vegas TV while at CES recently was a deep dive into Law advertising. The pitch from several I saw was we charge less, like a shameless radio competitor dropping-trou’ to get the entire buy.

If we don’t win, you don’t pay

 “What are your rights? What is your case worth?” Possibly a cash amount divisible-by-3, if that’s the attorney’s contingency.

Those expensive nationally syndicated TV spots (customized for the local firm) depict fearful insurance executives eager to settle. And the attorney may threaten that, “if they don’t, we’ll beat ‘em in court.” Baloney, that’s the last thing the lawyer wants. Too time-consuming and risking a losing verdict.

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Like radio commercials, attorneys’ inventory is perishable

— We can’t sell yesterday’s empty spot avail; and lawyers’ closing opportunity is “B.I.S.,” Butts In Seats for that free, no-obligation consultation, in-person, where the seller goes for the close.

— If nobody was sitting in that chair today (“intake”), no sale.

— And that’s how attorneys are missing a bet not using radio.

“The lawyer is in, the meter is off”

 That’s the proposition when they field listener calls in brokered weekend talk radio shows.

— DONE RIGHT, these shows can run-rings-around TV and outdoor ROI.

— Forgive caps lock in that last sentence, but it’s a crying shame how – at too many stations – the audition for pay-for-play weekend talkers is the-check-didn’t-bounce. One of the things I do for client stations is coach-up weekend warriors — in hosting fundamentals that are second-nature to us — but not to non-career broadcasters. Results = renewals. Otherwise brokered hosts churn, a management distraction, and upsetting listening habits.

— Occasionally, in markets where I don’t even have a client station, I’m working with lawyers (and real estate agents, financial advisors, foodies, and other ask-the-expert hosts), because nobody at the station is doing airchecks with them.

— No billboard or tacky TV spot can humanize the attorney – and demonstrate the comforting counsel – like eavesdropping on a conversation with a caller’s relatable situation.

Think “sales funnel”


We know how to make the phone ring, specific dance steps. The more callers, the better.

— When lines are full, screeners can choose callers whose dilemma is in the attorney’s lane. If, for instance, the host specializes in Personal Injury (or “Family Law,” translation divorce; or another specialty), calls about real estate transactions are off-topic.

— Do this right, and – before the host can offer – callers will often ask “May I call you in the office on Monday?”

Admittedly, this is an experiment…

…because I am frustrated witnessing all this noisy me-too advertising.

Personal Injury cases are he-said-she-said. So try this, and tell me if it works.

— Sales 101: That first call is Needs Assessment, right? Know the prospect’s pain.

— Yet too many radio reps resemble Herb Tarlek, telling the station’s story. Amoeba-shaped coverage maps and ratings rankers and rate cards all look alike…like Law firm marketing.

— I’m telling any attorney willing to listen to make four words the centerpiece of the marketing message, and they’re the same four words that turn callers into clients for weekend talkers: “Tell me what happened.”

The Free Prize Inside: Podcasts

Lifting weekend calls to repurpose as on-demand audio is digital marketing value-added.

Holland Cooke (HollandCooke.com) is a consultant working at the intersection of broadcasting and the Internet. He is the author of “Multiply Your Podcast Subscribers, Without Buying Clicks,” available from Talkers books; and “Spot-On: Commercial Copy Points That Earned The Benjamins,” a FREE download; and the E-book and FREE on-air radio features “Inflation Hacks: Save Those Benjamins.” Follow HC on Twitter @HollandCooke

Industry News

Clyde Bass to Lead iHeartMedia’s New Texas/Arkansas Area

By TALKERS | by TALKERS

iHeartMedia names Clyde Bass area president for its newly formed Texas/Arkansas Area. The region consists of more than 48 stations across 10 markets. Bass is responsible for all operations in Beaumont, Waco, Bryan, McAllen and Corpus Christi, Texas and Fayetteville, Fort Smith and Little Rock, Arkansas, along with Wichita,Face - senior Kansas and Springfield, Missouri. iHeartMedia division president Nick Gnau says, “I am so excited to add Clyde’s leadership to an already strong cluster of markets in Texas. Clyde’s passion for our industry, his knowledge of our products and the success he has shown through many roles with iHeartMedia make him the perfect fit to lead this newly formed Area. I look forward to seeing these areas continue to succeed as one.” Bass most recently led the Arkansas Area. He comments, “It’s been my honor to be involved for the last 10 years with some of the legendary stations that I grew up listening to here in Arkansas, and now to be reunited as area president with the team in Texas makes me even more energized over what iHeartMedia provides to advertisers and listeners.”

Industry News

Edison Research to Present Boomer and Gen Z Podcast Reports

By TALKERS | by TALKERS

The company announces that it will present two podcast studies in the first quarter of this year. “Hit Play, Boomer: Podcasting’s 55+ Opportunity” from NPR and Edison Research focuses on podcast listeners age 55 and older. The study explores what Edison terms “this oft-overlooked but highly influential demo” and theirLogo - Graphics podcast listening behaviors. “The Gen Z Podcast Listening Report” from SXM Media and Edison Research “provides an in-depth look at the podcast habits and motivations of the elusive and much-desired Gen Z listener.” Edison vice president Megan Lazovick says, “Everything we do at Edison Research works to drive the audio space forward with the highest quality data. We believe these two studies will help advertisers understand the opportunities for audio to reach these two important generations and of course help the media companies who can deliver these audiences.”

Advice

Monday Memo: #NABShowNY

By Editor | by Editor

By Holland Cooke
Consultant

 

NEW YORK — Lots of long-time-no-see hugs among 9,500 of us at the Javits Center as the National Association of Broadcasters resumed its October event – like much of life, interrupted by COVID – and increasingly pertinent to radio.

Though long-timers long for the days when the exhibit hall was populated by jingle gypsies, Hiney Wine, and bumpersticker and T-shirt vendors, we now find the teleprompters and studio lighting and cloud software that are becoming tools of the trade for radio broadcasters who leverage their transmitter brand to take content (and advertisers) everywhere consumers consume us.

(more…)

Advice

Monday Memo: #NABShowNY

By Editor | by Editor

By Holland Cooke
Consultant

 

NEW YORK — Lots of long-time-no-see hugs among 9,500 of us at the Javits Center as the National Association of Broadcasters resumed its October event – like much of life, interrupted by COVID – and increasingly pertinent to radio.

Though long-timers long for the days when the exhibit hall was populated by jingle gypsies, Hiney Wine, and bumpersticker and T-shirt vendors, we now find the teleprompters and studio lighting and cloud software that are becoming tools of the trade for radio broadcasters who leverage their transmitter brand to take content (and advertisers) everywhere consumers consume us.

(more…)

Front Page News Industry News

Monday, August 22, 2022

By Editor | by Editor

Saga Communications CEO Ed Christian Passes. The company announces that its founder, chairman, president and CEO Ed Christian passed away on Friday (8/19) after a short illness. Warren Lada, a member of Saga Communications’ board of directors and former COO, has been appointed by the board to serve as the Interim CEO. “The Board is confident that Warren’s vast experience in the broadcast industry as a sales representative, sales manager, general manager, vice president of operations and ultimately as COO of the company will fill the void that Ed leaves as the company prepares for the next chapter in ‘Saga’s ongoing adventure.’” Saga says that Christian founded the company in 1986 and has fostered its growth to owning 79 FM radio stations, 35 AM radio stations and 80 translator stations in 27 markets. Under his leadership the company became a publicly traded company in 1992 and continues to be traded under the ticker symbol “SGA” on the Nasdaq stock exchange. The company adds, “The broadcast industry has lost a pioneer and giant. Saga expresses its heartfelt condolences to the Christian family and Ed’s friends and colleagues. Ed will be missed but not forgotten. He is and was a true radio broadcaster that never lost sight of his ‘true north’ in an industry he loved.”

Monday Memo: “Stay Safe.” “Because these are NOT normal times,” consultant Holland Cooke follows-up last week’s column about leveraging the news half of the news/talk format, with specific imaging copy points. Read it here.

 

Pending Business: This Is Urgent. Radio sales pro Steve Lapa writes in today’s column Apple’s announcement it will soon sell approved advertisers space on the “Today” page of the App Store is a super-sized version of radio’s call-to-action ads. He says copywriting 101 and radio sales 101 intersect at the call-to-action and he offers six points to prove its efficacy. Read it here.

 

KWAM Celebrates 75 Years of Service to Memphis. News/talk radio station KWAM-AM, Memphis “The Mighty 990” – owned by Starnes Media led by talk media industry personality and best-selling author Todd Starnes – threw a bash to celebrate its 75 years of service to the Memphis market. Pictured above at right are some of the 300 people who attended the event.

FBI Raid/Documents Investigation, Midterms/2024 Presidential Race, The Economy, Russia-Ukraine War, CDC/COVID/Monkey Pox, and Extreme Weather Among Top News/Talk Stories Over the Weekend. The aftermath of the FBI raid on former President Donald Trump’s residence at Mar-a-Lago and the documents investigation; the November midterm elections and speculation about the nominees for the 2024 presidential race; inflation, the financial markets and the Inflation Reduction Act; a car bomb kills Darya Dugina, the daughter of Alexander Dugin, the “spiritual guide” to Russia’s invasion of Ukraine; the CDC’s announced overhaul, the rate of COVID cases and the concerns over Monkey Pox; and the nationwide drought & the Texas floods were some of the most-talked-about stories on news/talk radio over the weekend, according to ongoing research from TALKERS magazine.

Sales

Pending Business: When Controversy Strikes

By Editor | by Editor

By Steve Lapa
Lapcom Communications Corp
President

 

PALM BEACH GARDENS, Fla. — Is someone out there in talk radio land ready to help us understand the new boundaries of controversy in talk radio?

A little help here, I’m getting lost.

Abortion laws will quickly become a leading topic again as states begin to weigh in on laws. Social media is already buzzing about Brittney Griner’s sentencing and what about her stance on honoring our National Anthem? The January 6 hearings continue to produce new fodder for talkers as the Russia-Ukraine-China-Taiwan storyline is on the radar — literally. Those topics don’t touch what’s happening in your neck of the woods. Somewhere along the way one of your local talent or nationally syndicated talent will say something that will offend listeners, sponsors, or both.

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Sales

Pending Business: Halftime

By Editor | by Editor

By Steve Lapa
Lapcom Communications Corp
President

 

PALM BEACH GARDENS, Fla. — Halftime is over.

July is here and Q3-Q4 is looking a little foggy. The crystal ball is clouded with recession, inflation and new competition.

The good news is by now you’ve met with your manager and second half adjustments are in place. You have agreed on the course correction expectations and the game plan that will help you power through the dynamics of a constantly changing business environment.

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Advice

Monday Memo: Inflation Hacks

By Editor | by Editor

By Holland Cooke
Consultant

 

BLOCK ISLAND, RI — If you’re old enough for Medicare,* you’ve seen this movie before. In the early 1970s, gasoline – adjusted for inflation – was more expensive; and in the 80s, interest rates hit 20%.

Younger? You feel like you’re witnessing history. Either way, Inflation is changing listeners,’ and advertisers,’ and OUR lives, in almost every way. Rather than joining the blame-game unison, I will be using this column for the entire month of July to offer solutions, dozens of ways you can share on-air, and use yourself.

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Advice

Monday Memo: Leapfrog Legacybox

By Editor | by Editor

By Holland Cooke
Consultant

 

BLOCK ISLAND, RI — National media does well selling products, most of which aren’t manufactured locally. Local media does best selling services, which are inherently local. National advertisers selling services are disadvantaged, because the Help Wanted sign is everywhere, the U.S. Postal Service is crippled by politics, and supply chain issues haunt every industry.

Example? One of network radio’s biggest advertisers, currently disappointing me and countless others. And I see opportunity.

(more…)

Front Page News Industry News

Tuesday, May 10, 2022

By Editor | by Editor

Townsquare Media Reports Q1 Net Revenue Up 13%; Tops Pre-COVID Net Revenue by 7%. For the first quarter of 2022, Townsquare Media is reporting net revenue of $100.2 million, an increase of 13% over the same period in 2021 and an increase of 7% over the same period in Q1 of 2019. Townsquare is also reporting net income of 2.74 million for Q1 of 2022 compared to the loss of $6.1 million it reported in the first quarter of last year. Townsquare reports in three segments: 1) Subscription Digital Marketing Solutions – including its subscription digital marketing solutions business, Townsquare Interactive. That segment reported revenue of $21.8 million, an increase of 15% over Q1 of 2021; 2) Digital Advertising – marketed externally as Townsquare Ignite that includes digital advertising on its owned and operated digital properties and its digital programmatic advertising platform. That segment reported revenue of $29.2 million, an increase of 16.6% over last year; and 3) Broadcast Advertising – including the company’s local, regional, and national advertising products and solutions delivered via terrestrial radio broadcast (plus other miscellaneous revenue associated with the broadcast advertising platform). That segment’s revenue was $48.1 million, an increase of 7.7% over the same period a year ago. Townsquare CEO Bill Wilson states, “I am proud to announce our strong start to 2022, with net revenue, Adjusted EBITDA and net income increasing year-over-year by +13%, +10%, and $8.9 million, respectively. In addition, net revenue and Adjusted EBITDA exceeded our previously issued guidance due to strong growth and strong margins. As a Digital First Local Media Company, our first quarter performance was driven by our digital platform and solutions, with total digital revenue increasing +16% year-over-year in the first quarter (representing 51% of our total Q1 net revenue) and total digital Adjusted Operating Income increasing +11% year-over year (representing 55% of our total Q1 Adjusted Operating Income). As we move forward, we expect double-digit digital net revenue growth to continue at strong margins, fueling our overall growth and subsequent debt reduction, from 4.66x net leverage today to 4.0x by year end. We are also pleased to re-affirm our 2022 guidance and our 2024 digital revenue target of at least $275 million. These results and confidence in our outlook are due, in part, to the fact that Townsquare is the only local media and digital marketing solutions company of scale focused principally on markets outside of the Top 50 in the United States, a vital differentiator for our company. Our new reporting segments highlight the profit characteristics of our digital platform, which is essentially equal to those of our broadcast platform, each with profit margins of approximately 30%. While we view local radio as an extremely valuable asset with significant and attractive cash flow properties, unparalleled consumer reach, and an important and trusted local connection to our audience and communities, it is not our primary growth driver. With approximately half of our total revenue and profit coming from digital today, we have a strong digital growth engine that will drive significant and consistent growth in the coming years. It is our belief that as a Digital First Local Media Company providing a detailed breakout of our digital revenue and digital profit, Townsquare should be afforded a sum-of-the-parts valuation that gives credit to our digital assets.”

 

MIW Launches State Broadcasters Partnership Program. The non-profit organization Mentoring and Inspiring Women in Radio, Inc., dedicated to the advancement of female leadership in radio broadcasting, announces a new national program designed to create mentorship opportunities in every state in the union. This three-to-five-year strategic plan exponentially expands the organization’s mentoring outreach across the United States. The first pilot program partners MIW with the Minnesota Broadcasters Association to create, “Mentoring and Inspiring Women in Minnesota.” MIW’s long term plan includes establishing close working relationships with leadership from all interested state broadcasters associations and broadcasters across the country to create mentorship curriculums for female professionals in radio broadcasting. With MIW’s guidance, these state-centered programs will be based on the tenets, structure, and best practices of MIWs broad array of successful and established mentoring opportunities. MIW Board president Ruth Presslaff says, “This program is designed to dramatically expand our mentorship outreach. We couldn’t ask for a better first partner than president Wendy Paulson and the Minnesota Broadcasters Association as we work toward a mentee in every state. Cheers to the first. Forty-nine to go!” Find out more here.

 

TALKERS News Notes. When the Radiodays Europe conference takes place in Malmö, Sweden May 15-17, Beasley Media Group CEO Caroline Beasley will take part in two sessions. She will participate in a special one-on-one session titled, “American Regional Radio in the Digital Age,” hosted by Benztown president Dave “Chachi” Denes. In addition, Beasley will take part in the “Audio Summit” panel, featuring Sibyle Veil (CEO Radio France), Linda Pamgren (CEO Bauer Media Sweden) and Cathinka Rondon (head of Radio-NRK). The session will be moderated by Folder Media creative director Matt Deegan…..The nationally syndicated, weekend shooting sports program “Tom Gresham’s Gun Talk” adds WBIN Media’s WTPL-FM, Hillsborough, New Hampshire and Berkshire Broadcasting Corp’s WLAD-AM/W231DJ, Danbury, Connecticut to its roster of affiliate stations. The program is syndicated by Talk Shows USA…..Chicago-based MediaTracks Incorporated sells “Radio Health Journal” and “Viewpoints Radio” to American Urban Radio Networks, LLC. The two weekly public affairs programs are syndicated on a total of nearly 1,500 stations in more than 200 U.S. markets. Bob Heymann of the Chicago office of Media Services Group served as the exclusive broker for the seller in this transaction…..Audio content, marketing, and advertising services firm Gemini XIII, joins forces with Diversion Podcasts through an investment that will grow Diversion’s offerings under a new premium podcast network called Diversion Audio. Diversion Audio will become Gemini XIII’s content division. The division will leverage sister company Diversion Books’ publishing assets and author relationships to offer a focused content model it says is unique to podcasting: expanding IP from books, authors, and personalities into the podcast medium as original audio content across both high-frequency episodic shows and engrossing narrative limited series. Gemini XIII co-founder and CEO Spencer Brown says, “Through Diversion Audio, we will build upon the successful franchises and proven track record that Scott [Waxman] and his talented team have created at Diversion Podcasts. Together with our recent acquisitions of Phantom Producer and The Infinite Agency, Gemini XIII is well-positioned to optimize these premium assets and capabilities to build and grow a new breed of audio company. The creation of Diversion Audio advances that strategy considerably. We think podcast listeners and readers alike will love what they hear as we launch new podcasts tied to Diversion’s expansive intellectual property library.”

 

The Economy, Russia-Ukraine War, Roe v Wade, Midterms/Trump & the GOP, COVID-19, Vicky White/Casey White Manhunt, and Western Drought/Texas Wildfire Among Top News/Talk Stories Yesterday (5/9). The falling Dow and NASDAQ, the high price of gas & food, and concerns about a full-blown recession; Russia’s invasion of Ukraine and concerns about Vladimir Putin’s health and willingness to use nuclear weapons; the aftermath of the leak of a draft of the Supreme Court’s ruling to overturn Roe v Wade; the November midterm elections and Donald Trump’s influence over the GOP; the rate of cases, hospitalizations & deaths from COVID-19; the manhunt for Alabama corrections officer Vicky White and convict Casey White ends; and the drought in the U.S. West and the Texas wildfires were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.