Entercom Second Quarter Pro Forma Revenue Rises 5%. This second quarter report from Entercom includes the impact of last year’s acquisition of Lincoln Financial Media stations and the swap with Bonneville International. As such, net revenue for the second quarter of 2016 was up 20% on income of $120.5 million. On a pro forma basis, revenue was up 5%. President and CEO David Field states, “Entercom continues to deliver strong and consistent organic, top-line and bottom-line growth, driven by the great work of our talented programming and sales teams and our strategic investments in building powerful local brands and content and excellent customer marketing capabilities. Looking forward, we expect a strong second half of the year as we benefit from our excellent ratings performance, enhanced sales execution, multiple growth initiatives and election year political revenue.”
SiriusXM Reports Q2 Revenue Up 10%. The satellite radio service is reporting 2016 second quarter revenue of $1.2 billion, up 10% from the same quarter in 2015. CEO and director Jim Meyer notes that SiriusXM added 580,000 net new subscribers during the quarter, bringing the satcaster’s total subscriber base to 30.6 million. During yesterday’s investor conference call, Meyer spoke about the company’s efforts to continue advancing the service’s technology. He says they are investing in the new SiriusXM17 “next-generation platform” 360 L, short for 360-degree listening. Meyer says, “360 L is proceeding ahead and gaining traction with OEMs. I’m very pleased at the progress we are making building and deploying this platform. 360 L breaks down the big barrier we live with today as a one-way broadcaster by integrating satellite radio with two-way cellular connectivity. It lets us offer non-linear content to our subscribers, such as customized music playlists, on-demand content and personalized recommendations based on the tastes of our individual subscribers.” Meyer also outlined the company’s continuing work expanding its connected vehicle services.
Nielsen Revenue Up; Net Income Dips. Ratings giant Nielsen reported 2016 second quarter financial numbers yesterday and while revenue was up 2.4% during the period compared to the same period a year ago (4.5% in constant currency), net income was down 1.7% because of foreign exchange. Nielsen says audio revenue grew 1.7% on a reported and constant currency basis.
The Podcasting Session from TALKERS 2016: Bridging the Generations Posted Today. One of the highlights of the recent TALKERS 2016: Bridging the Generations convention – The Podcasting Session – is posted today on Talkers.com. The panel discussion was part of the 19th annual installment of the talk media industry’s longest-running and most important national convention that took place May 20 on the campus of Hofstra University in Hempstead, NY. Moderated by PodcastOne founder and CEO, Norm Pattiz, speakers include (in alphabetical order): Andy Bowers, chief content officer/co-founder, Panoply/The Slate Group; Tom Cuddy, program director, WOR, New York; Greg Strassell, SVP programming, Hubbard Radio; and Tom Webster, VP strategy, Edison Research. The session is introduced by Brad Shepard, general manager/host, Pioneer Valley Radio, Springfield, MA. To view the panel discussion in its entirety, please click here. Stay tuned to Talkers.com for more videos from Talkers 2016: Bridging the Generations that will be posted in the days and weeks to come.
The Presidential Race/Democratic National Convention, DNC Server Hack Case, South China Sea Tensions, Black Lives Matter Movement, ISIS Attack on French Church, NYC Trump Jr. vs Weiner Mayoral Tiff, and MLB Action Among Top News/Talk Stories Yesterday (7/26). The action at the Democratic National Convention and the activities of presidential candidates Donald Trump and Hillary Clinton; the hack into the DNC’s server and speculation that Russia is behind it in order to help Trump win the presidency; military tensions between the U.S. and China in the South China Sea and the territorial dispute; controversy over the actions of the Black Lives Matter movement; the murder of a Catholic priest in Northern France by ISIS terrorists; Anthony Weiner’s statement he would come back to politics to challenge Donald Trump Jr. if he ran for NYC mayor; and Major League Baseball action were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
Odds & Sods. This year’s NAB Marconi Radio Awards Dinner & Show will be hosted by WCBS-FM, New York morning personality Scott Shannon. The event will take place September 22 at the 2016 NAB Radio Show at the Omni Nashville Hotel…..NBC Sports Group announces it is making the entire NBC Sports Radio portfolio of programming available on-demand via podcast. It also announced the new program, “Tara and Johnny,” hosted by Tara Lipinski and Johnny Weir. It debuts today (7/27) and will “touch on hot topics in sports, pop culture, and fashion.” Weir and Lipinski are serving as NBC Olympic correspondents during the Rio Games.
Radio Biz Figure Jim Carnegie Dies at 66. Radio pro and longtime publisher of the trades RBR and TVBR Jim Carnegie has died at the age of 66. Carnegie’s RBR/TVBR was acquired by Eric Rhoads’ Streamline Publications in 2013, a year after Carnegie’s wife and business partner Cathy unexpectedly passed away from complications due to a brain aneurysm.