Tag: "Revenue"
Pending Business: This Time Next Year
By Steve Lapa
Lapcom Communications Corp
President
PALM BEACH GARDENS, Fla. — This time next year, what will your income look like?
What changes do you need to make to get to your goals?
I make it a practice to fully evaluate my personal performance and given the current business environment, I’ve developed new systems to help keep priorities in sharp focus. More on new systems, another time.
For now, try these steps to help get you closer to your income goal.
Tuesday, November 10, 2020
iHeartMedia Third Quarter Revenue Down 22%. The earnings report from iHeartMedia for the third quarter of 2020 shows the media company in a slightly better situation than some of its similar-sized competitors as revenue was $744 million, a decrease of 22% over the same period in 2019. (Cumulus Media and Entercom were both down 30% and Beasley was down 25%.) iHeartMedia says that its third quarter revenue was up “53% sequentially, moving from down 47% [year-over-year] in Q2 to down 22% [year-over-year] in Q3. The company adds that October revenue increased 2%, benefitting from significant political advertising and digital revenue increased 17% [year-over-year]. Breaking the report down by segment, broadcast revenue declined 29% from $573 million in Q3 2019 to $404 million this year but increased 66% quarter-over-quarter. Networks revenue declined 26% from $160 million to $119 million but increased 24% quarter-over-quarter. Digital revenue increased 17%, from $97 million to $113 million, led by a 74% increase in podcasting revenue. iHeartMedia posted a loss of $32 million in the third quarter of 2020 compared to the net income of $12 million in Q3 of 2019.
iHM’s Pittman: Podcasting Already Profitable for Us. During yesterday’s investors conference call, iHeartMedia CEO Bob Pittman explained the success of its podcasting segment. He said, “Podcasting continues to be our strongest performing business line, reflecting the fact that we built iHeart into the number one commercial podcast publisher in America, with 252 million downloads a month as of September, which is up 71% year-over-year. In Q3, as measured by Podtrac, we were number one in downloads each month. Our audience continues to be more than twice the size of the next largest commercial podcaster. And we extend that our lead over all other ranked podcasters. Let me share with you our model. We partner with the best content creators in the world – some of whom are our very own radio talent – distribute their content to the largest
audience possible without a paywall, and use the unparalleled scale of our broadcast radio business as a built-in marketing machine to drive engagement with our podcast shows. We feel this is an important part of our secret sauce. It’s how we continue to build hit podcast after hit podcast, and how we continue to grow our leadership position. According to Podtrac’s latest data, not only are we number one overall, but we currently have the most shows featured across all categories, and we have ranked shows featured in all 19 possible categories, the most among all publishers. Let me be clear, podcasting is already a profitable business for us, and has an EBITDA margin that is higher than the overall company margin. Our podcast business is advertiser supported, it’s not subscription based, and it’s not behind a paywall, which enables our creators to share their passion with the widest audience possible, as we distribute their podcast not only on the iHeartRadio app, but across as many other distribution platforms as possible.”
Entercom Closes on $32 Million Acquisition of QL Gaming Group. According to a press release, Entercom Communications’ acquisition of sports data and iGaming affiliate platform QL Gaming Group will give Entercom “unrivaled data, analytics, and insight-driven content to Entercom’s best-in-class sports broadcast stations, influential podcasts, and RADIO.COM.” The QLGG technology portfolio includes sports betting data and analytical capabilities (BetQL), daily fantasy sports (RotoQL), simulation-based sports outcome predictions and game forecasting (AccuScore), and comprehensive analytical coverage of the ATP and WTA Tours (TennisInsight.com), each with respective subscriber base and licensing opportunities. Entercom president and CEO David Field says, “As the sports betting marketplace continues to grow exponentially, the acquisition of QL Gaming Group is a perfect fit for our unrivaled sports audio platform. Integrating QL’s analytics and content with our sports brands enables us to deliver unparalleled experiences for sports fans. The acquisition builds on our track record of digital growth and further enhances our direct-to-consumer technology portfolio with data and analytics capabilities, while also adding an innovative new subscription offering to our platform.” Justin Park, QLGG co-founder and CEO, will continue to lead the business reporting to Entercom president of sports Mike Dee and Entercom chief digital officer J.D. Crowley. Entercom adds that in 2021, under the company’s first full year of ownership, QL Gaming Group is expected to generate approximately $12 million in revenue with an EBITDA margin in the high 20s.
Flag Family Media Partners with Forum Communications to Operate WDAY-AM, Fargo. A deal between Flag Family Media and Forum Communications will give the former “an extensive role in WDAY-AM’s day-to-day operations and provides an eventual path to ownership.” Flag Family Media owns news/talk outlets WZFG, Fargo “AM 1100 The Flag” KTGO, Tioga, North Dakota “AM 1090 The Flag.” Both of Flag Family Media’s principals – Steve Hallstrom and Scott Hennen – have worked at WDAY-AM in the past. Forum president and CEO Bill Marcil, Jr says, “This partnership allows us to focus our attention on our in-depth TV, digital, and print news operations while still sustaining a strong local radio presence in the region. We know Flag Family Media will honor the legacy of WDAY-AM and are looking forward to seeing how they transform our region’s radio experience.” Scott Hennen adds, “This is an extremely significant day for our company, and we look forward to learning from, and working with, some great professionals at WDAY Radio. Steve and I can’t wait to roll up our sleeves and bring some energy and creativity to this legendary radio station.”
WOR, New York’s Michael Riedel Publishes New Broadway Book. WOR, New York morning drive co-host Michael Riedel has released his second book, Singular Sensation: The Triumph of Broadway (Avid Reader Press/Simon & Schuster, 2020), that chronicles “a transformative decade on Broadway, featuring gripping behind-the-scenes accounts of shows such as Rent, Angels in America, Chicago, The Lion King, and The Producers. In this book, Riedel presents the drama behind every mega-hit or shocking flop, bringing readers into high-stakes premieres, fraught rehearsals, tough contract negotiations, intense Tony Award battles, and more. From the bitter feuds to the surprising collaborations, all the intrigue of a
revolutionary era in the Theater District is packed into Singular Sensation. Broadway has triumphs and disasters, but the show always goes on. Riedel, who co-hosts the WOR morning show with Len Berman, says, “I’m a newspaper guy who’s become a radio guy. It’s been my great pleasure to host the morning show with Len Berman on WOR for nearly three years. Len spent his life in sports. I spent mine on Broadway. We certainly talk a lot about politics and current events, but variety is the spice of life, so sports and Broadway are always in the mix. Broadway’s going through a tough time right now, but my book, recounts a better time – the 1990s. I have no doubt that Broadway will be back one day, and Len and I will be there to cheer it on.”
TALKERS News Notes. As eyes and ears shift to Georgia for the January 5 runoff elections to decide that state’s two U.S. Senate races, Salem Radio Network talk host Mike Gallagher’s syndicated late morning talk show will “parachute into Georgia in December” as he launches a “Save The Senate” initiative. Gallagher will use Salem’s WGKA-AM, Atlanta “AM920 The ANSWER” as his December base to follow what promises to be the most expensive runoff election in U.S. history. Gallagher says, “This pair of runoff elections in Georgia will be enormously consequential for America. I’m eager to originate my show from the studios of ‘AM 920 The ANSWER’ in Atlanta for a number of days in December, highlighting the dramatic differences between the Republicans and the Democrats in the race. It is all-hands-on-deck for Georgia!”…..The Cincinnati Enquirer reports that Cincinnati Public Radio’s WVXU-FM had to shut down its operations after a staffer tested positive for COVID-19. As a result, the station is without much local content until further notice. It posted to its website: “Our programming is being provided through a national feed with limited local information. We apologize for this inconvenience and are doing everything possible to maintain the service you expect. We will return to normal operations as quickly as it is safe to do so.”…..Cumulus Media’s Westwood One is presenting the 2020 Masters Tournament with exclusive hole-by-hole coverage beginning Thursday (11/12) through Sunday (11/15). The 84th Masters Tournament from Augusta National Golf Club is being played in November for the first time…..San Francisco public news/talk personality Michael Krasny is retiring from his position with KQED-FM where he’s been host of the late morning “Forum” program for almost 30 years. His last program will be on February 15, 2021. He says, “I want to thank all of the listeners, guests and exceptional colleagues I’ve had the great fortune to encounter over the years as host of Forum. I’ve been unusually fortunate to sustain such a long career serving the Bay Area in a role that allows me to participate in such rich and thoughtful conversations about the topics of our times.”
Biden Transition Process/Trump Refuses to Concede, Barr Orders ‘Irregularities’ Investigations, COVID-19 Stats & Projections, Pfizer Vaccine, SCOTUS Obamacare Case, Trump Fires Esper, and Georgia Runoff Elections Among Top News/Talk Stories Yesterday (11/9). President-Elect Joe Biden proceeds with the transition process while President Trump refuses to concede the election; Attorney General Bill Barr orders Justice Department election crimes office to investigate voter “irregularities”; the fast-rising number of COVID-19 cases in the U.S. and in Europe and projections for fall and winter cases; Pfizer announces its COVID vaccine is 90% effective; the Supreme Court begins hearing arguments on the Affordable Care Act; President Trump fires Defense Secretary Mark Esper and appoints Christopher Miller acting secretary; and the January runoff elections for Georgia’s two U.S. Senate seats were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
Music Radio News and Career Moves. Country radio on-air pro Brooke Taylor is named midday host at iHeartMedia’s WSIX-FM, Nashville “The BIG 98.” Taylor was most recently with the company’s Chicago country station “BIG 95.5” until that station’s recent flip to a
rock format. Taylor will continue to host the night show for iHeartMedia Denver’s “107.7 The Bull” and broadcast on several iHeartCountry stations across the country. She says, “When I set out to work in country music, one of the first things I prayed for was to be in Nashville one day, and the fact that this is becoming a reality is honestly a dream come true. I can’t wait to join an already incredible team at ‘The BIG 98’ and to represent the iHeartCountry brand.”…..Alpha Media Lincoln names Joe Dobbins, a.k.a. JDub, content director for CHR KFRX. JDub comes to Lincoln from Alpha’s CHR WDJX, Louisville where he was content director and afternoon show host. Alpha Media Lincoln operations manager Rob Kelley comments, “Joe is an outstanding programmer with outstanding vision. He is the perfect leader for our staff and for the brand of a great heritage CHR like KFRX.”…..iHeartMedia’s nationally syndicated “The Breakfast Club” announces that its fourth annual #Change4Change broadcast will feature a day of giving to help listeners in need. Traditionally a radiothon, this year’s event will grant wishes to listeners experiencing hardship. #Change4Change will broadcast on Thursday, November 19, 2020 on hip hop WWPR, New York “Power 105.1” and across more than 77 affiliates of “The Breakfast Club.”…..WXKB, Fort Myers “B103.9FM” morning personality and Army veteran Jason “Big Mama” Jones, in conjunction with ABC 7, raising awareness and support for Home Base Southwest Florida Veteran and Family Care on Veterans Day (11/11). Jones also hosts Beasley Media Group’s “Bravery Network,” a weekend program dedicated to shining a light on important issues and services available for veterans and their families. He says, “I am very excited about this partnership. Being able to use the power of radio and television to help raise awareness and money for the veterans of Southwest Florida. I am planning some ‘star’-studded guest for the day that will not only make show informative but very entertaining as well.”…..The CHR evening show “Party LiveLine!” partners with Sun Broadcast Group effective immediately. The program was created by John Garabedian and his hosted by Mason Kelter. SBG chief development officer Rich O’Brien says, “Broadcasters are worried about the loss of TSL among 18-34-year-olds, who spend extraordinary amounts of time with streaming services on their mobile devices. Add to this the negative effects which RIFs and voicetracking have had on the ratings of Top 40 stations, and until now there were no good alternatives. That’s why we are so excited to be offering this breakthrough Top 40 night show which is 100% live and interactive.”
Thursday, October 22, 2020
Rising Radio America Talk Star Chad Benson is This Week’s Guest on Harrison Podcast. Described as “a new generation talker,” Radio America syndicated talk show host Chad Benson is this week’s guest on the award-winning PodcastOne series, “The Michael Harrison Interview.” Benson’s rapidly growing three-hour daily syndicated program heard live 6:00 am to 9:00 am MT (9:00 am to 12:00 noon ET) emanates from KTAR, Phoenix where he also is co-host with Larry Gaydos of the station’s popular afternoon drive program. Both of these programs are proving to be very successful with the 25-54 adult demos. In addition to KTAR, Benson’s syndicated show is performing well on such stations as KXL-FM, Portland; WIBC-FM, Indianapolis; KSTE-AM, Sacramento; WOKV-FM, Jacksonville and KRMG-AM/FM, Tulsa among others. One of the syndicated show’s unique features is it is updated throughout the day so that it is current
regardless of when stations run the program. Benson’s radio career began in his native California in the 1990s at the legendary KRTH (K-EARTH), Los Angeles as the executive producer of the Robert W. Morgan Show and went on to be heard on several California music stations. Building upon his creativity developed on the music side of the business, he honed his talk skills at Talk Radio UK in London as one of the first commercial talk hosts to take on the mighty BBC, boasting over a quarter million listeners per week. With success and experience abroad, he returned to the US and hosted programs in Palm Springs at K-NEWS-FM and in San Antonio at KTSA before eventually joining KTAR. He also played professional soccer while in Europe and was talented enough to be signed onto the rosters of several teams including the Bristol Rovers, the Falkirk (Scotland) Football Club and the Portsmouth Football Club. Harrison and Benson talk about today’s media, politics and sports with an eye on the future. Check it out! To listen to the podcast in its entirety, please click here or click on the player box marked “The Michael Harrison Interview” located in the right-hand column on every page of Talkers.com.
SiriusXM Third Quarter Revenue Up 1%. Reporting on 2020 third quarter financial data, SiriusXM says revenue was $2.02 billion, up 1% compared to the third quarter of 2019. Net income increased 11% to $272 million in the third quarter from $246 million a year prior. While subscriber revenue rose from $1.55 billion in the third quarter of 2019 to $1.59 billion in Q3 2020, advertising revenue was down from $366 million in Q3 2019 to $345 million in the third quarter of 2020. SiriusXM CEO Jim Meyer says, “SiriusXM maintains strong momentum heading into year end, and we are increasing all of our full-year subscriber and financial guidance today. Our talented
people and our powerful business model have delivered stellar results during a challenging year for our company and country. Our commitment to having the best possible audio content from top talent, as well as leading media and sports brands, has never wavered. First, we are making significant progress in extending our relationship with Howard Stern. We reached a new agreement with Kevin Hart for more content, with LeBron James and Maverick Carter we launched UNINTERRUPTED Radio from the NBA bubble on Pandora, and we debuted our fulltime channel with the members of U2 on SiriusXM. Pat McAfee joined our sports lineup, and we returned to live sports across the MLB, NBA and NFL. And we brought our listeners special moments like the recent interview between Paul McCartney and Alec Baldwin honoring John Lennon’s 80th birthday on The Beatles Channel.”
iHeartMedia Unveils ‘Building Black Biz’ Initiative. The newly revealed “Building Black Biz” initiative from iHeartMedia New York is designed to “support, sustain and grow local Black-owned businesses in the New York metro area.” In this effort, iHeartMedia New York pledges to support the “Building Black Biz” initiative during the next three months with more than 100 million media impressions on hip hop WWPR “Power 105.1,”CHR WHTZ “Z100,” WLTW “106.7 Lite FM,” hot AC WKTU, classic rock WAXQ “Q104.3,” and news/talk WOR as well as the stations’ websites and social media channels. iHeartMedia New York says that through the “Building Black Biz” initiative, listeners and aspiring business owners can hear from successful entrepreneurs within the tristate area on how they started their business and what advice they would give to new entrepreneurs. iHeartMedia New York president Bernie Weiss says, “I am so proud of our team for going above and beyond and creating this comprehensive campaign. New York needs more Black-owned businesses and I am thrilled we can use the power of all of our six radio stations to do our part in making a real impact.”
Jack Heath Joins Binnie Media to Host Talk Show. A week after exiting iHeartMedia’s WGIR-AM, Manchester, New Hampshire where he hosted the “NH Today” morning drive program, Jack Heath is joining Binnie Media to host the 9:00 am to 12:00 noon program that will be simulcast across New Hampshire outlets WTPL-FM, Hillsboro (Concord market); WEMJ-AM/W279BS, Laconia; and WTSN-AM/W251CF, Dover. Binnie Media president Massimo Rosati says, “Jack’s show will stay consistent with the content from his former show, while adding some new features, additional geography, and more FM coverage. Jack will be joining our other great on-air talent for a truly star studded cast of broadcasters on our news talk sports stations.” Bill Binnie adds, “We are thrilled to have a talent like Jack join Binnie Media. He brings a breadth of experience and professionalism in journalism along with a connection to politics that will be of interest to our listeners.”
WGN, Chicago Plans ‘Halloween Radio Theatre.’ This Halloween night (10/31) WGN, Chicago will air “Halloween Radio Theatre” hosted by Carl Amari, from 10:00 pm to 5:00 am. The program will feature mystery, thriller, and terror-themed selections from 12 Golden Age of Radio dramas including “Suspense” starring Bela Lugosi, “Lights Out,” “Inner Sanctum Mystery,” “Escape,” “The Whistler,” and “The Sealed Book.” Amari, who has spent decades licensing and preserving classic radio broadcasts from the 1930s, 40s, and 50s, is the curator of the Classic Radio Club, and board member of the Museum of Broadcast Communications in Chicago. He says, “It’s going to be a ‘hair-raising’ seven hours, so stay up late, pop some popcorn, pull the covers up close, and be chilled by ‘theatre of the mind’ classic radio horror and mystery shows.” Last week (10/15), TALKERS magazine published a piece by University of St. Francis professor Tim Weldon titled, “The Scare On the Air” that is an homage to the radio horror genre. If you missed it you can read it here.
TALKERS News Notes. The October 19 interview with Dr. Anthony Fauci on Entercom’s all-news KNX, Los Angeles generated a lot of coverage in other media outlets – from CBS’ Stephen Colbert to CNN to The Hill to The New York Post – after Dr. Fauci addressed the criticism he received from President Trump. While explaining that he knows Americans are fatigued by the pandemic but that he believes we’ll put it behind us after a vaccine becomes available, he then said, “That’s the only thing I really care about. That other stuff, it’s like in The Godfather: nothing personal, strictly business as far as I’m concerned. I just want to do my job and take care of the
people of this country.” Hear the whole interview here…..ABC News Radio offering three hours of live, anchored coverage for tonight’s presidential debate. Programming includes a one-hour pre-show, followed by the debate and live post-debate analysis. Correspondent Aaron Katersky anchors coverage with reporting and analysis by correspondent Karen Travers, political analyst Steve Roberts, political director Rick Klein, deputy political director MaryAlice Parks, and others from ABC News’ and FiveThirtyEight’s political teams…..iHeartMedia and “Bobby Bones Show” co-host
Amy Brown are partnering to launch The Amy Brown Podcast Network that will include a slate of health and wellness podcasts that will be co-produced by Brown and iHeartRadio. iHeartPodcast Network president Conal Byrne comments, “Our goal is to provide the highest quality programming across every podcast genre – and health and wellness is one of the most important categories in the medium right now, given the engagement of the listeners and the authenticity of the content. Amy is an incredible podcast talent – not just as the host of her own show, but someone who has a great eye for recruiting and developing new podcasts, too – and we want to support that however we can.”…..Entercom
Podcast Network’s Cadence13 announces an exclusive partnership with Cosgrove/Meurer Productions, the creators and producers of the Emmy-nominated series “Unsolved Mysteries,” for a weekly podcast based on the long-running television show and Netflix streaming series. The podcast will present all new unsolved cases and each episode will take a deep dive into one specific story. The “Unsolved Mysteries” podcast will be executive produced by Chris Corcoran, chief content officer of Cadence13, and Terry Dunn Meurer, the co-creator of “Unsolved Mysteries,” and will be co-directed and co-produced by Cadence13 and Cosgrove/Meurer Productions. Season One of the “Unsolved Mysteries” podcast will launch in early 2021.
The Presidential Election/Final Debate, Early/Mail-In Voting, Iran-Russia Election Interference, COVID-19 Stats & Projections, Hunter Biden Hard Drive Case, Amy Coney Barrett Confirmation Vote, Pope Supports Same-Sex Unions, Purdue Pharma Pleads Guilty in Opioids Suit, and Sports During COVID Among Top News/Talk Stories Yesterday (10/21). The November presidential election and tonight’s final presidential debate; the issues of early voting and mail-in voting; the allegation that both Russia and Iran are practicing cyber interference in the U.S. presidential election; the rising number of COVID-19 cases in the U.S. and abroad and projections for a fall-winter second wave; the allegations that a hard drive from Hunter Biden’s laptop indicates then-Vice President Joe Biden influenced the Ukraine; today’s Judiciary Committee vote on Supreme Court nominee Amy Coney Barrett; Pope Francis voices support for same-sex unions; OxyContin manufacturer Purdue Pharma pleads guilty in the opioid epidemic case and will shut down; and pro sports during the time of COVID were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
Nine Rules I Learned from Limbaugh. Programmer and talk show host Scott Ryfun was a college student in 1991 when he first heard Rush Limbaugh on the radio. At the time, Ryfun was a conservative college student when he stumbled across Limbaugh’s show while spinning across the radio dial. He became hooked and his love of Limbaugh’s show led him into the radio business. “My goal was to host an issues-oriented talk show and to be insightful and entertaining, but there was only one local political talk show in [my] town and no one seemed interested in letting me have it. So, I decided to learn how to do every job in radio I could so that I’d be a valuable employee while I awaited my opportunity to do the show I wanted to do. I also spent my time trying to deconstruct conservative talk radio and figuring out how it worked and how to make it work for me.” Today, Ryfun is vice president of programming at iHeartMedia’s Brunswick, Georgia operations and morning host at news/talk WGIG-AM/W245DO. He’s written a piece titled, “Nine Rules I Learned from Limbaugh,” that encapsulates much of what he’s learned about great talk radio from Rush Limbaugh. Read his insightful piece here.
Music Radio News and Career Moves. The 2020 “iHeartCountry Festival Presented by Capital One” is streaming on LiveXLive.com and broadcast across iHeartMedia’s county radio stations tomorrow (10/23) at 8:00 pm ET. Bobby Bones is hosting the seventh edition of this event that will feature performances from Dierks Bentley, Lady A, Sam Hunt, Kane Brown, Kelsea Ballerini, Dustin Lynch, Jon Pardi, Riley Green, and special performances by Morgan Evans and Gabby Barrett, recorded live on one stage in Nashville.