Beasley Broadcast Group 2019 Q4 Net Revenue Dips 4.6%; Full Year Net Revenue Up 1.6%. In reporting 2019 fourth quarter financial results, Beasley Broadcast Group states that “the $3.5 million, or 4.6%, year-over-year decrease in net revenue during the three months ended December 31, 2019 reflects the cyclical impact of strong political advertising revenue recorded in the prior year period, partially offset by fourth quarter 2019 revenue increases in six of the company’s market clusters.” The decrease in operating income in Q4 reflects “the year-over-year decrease in station operating income, in addition to higher corporate expenses related to digital growth investments and a $12.4 million non-cash impairment charge related to Beasley’s AM stations in Boca Raton and Atlanta and a $1.3 million impairment loss on an investment, partially offset by a $17.1 million gain from land and tower sales during the period.” Net revenue for all of 2019 was $261.1 million, an increase of 1.6% over 2018. Beasley CEO Caroline Beasley says, “Fiscal year 2019 was an active and productive period for Beasley as we continued to make significant progress rolling out our digital expansion and transformation initiatives across the company, while advancing our revenue diversification strategies and actively managing our local radio platform to drive long-term SOI growth and margin expansion. Beasley’s fourth quarter net revenue decline of $3.5 million primarily reflects a $2.8 million reduction in political advertising revenue compared to the prior year period. While we were not able to fully offset the cyclical impact of political revenue, the fourth quarter radio advertising environment remained healthy with six of our markets generating year-over-year revenue increases. By opportunistically divesting several non-core land and tower assets in 2019, Beasley generated a 31% increase in full year free cash flow over the prior year period, which enabled us to complete several strategic growth and diversification investments in our broadcast, digital, technology and esports platforms throughout the year. Our fourth quarter results highlight the value we have begun extracting from our digital transformation strategy investments. In the fourth quarter, Beasley generated digital revenue growth of approximately 44% on a year-over-year basis, with digital now accounting for 9.2% of total revenue, compared to 6.1% of total revenue in the prior year period. With our focus on quality content production and consumer engagement, we are growing audience share across our digital platforms while delivering multi-platform turnkey marketing solutions to advertisers and brands. Overall, we are pleased with the momentum and trajectory of our digital initiatives and look forward to this growth trend continuing in 2020.”
Jim Louth Rises to APD at Boston’s ‘98.5 The Sports Hub.’ Eleven-year station programming staffer Jim Louth is promoted from midday show executive producer to assistant program director at Beasley Media Group’s sports talker WBZ-FM, Boston “98.5 The Sports Hub.” During his career, Louth produced New England Patriots broadcasts for 16 seasons, spent six years as a producer at sports talk WSKO-AM, Providence “790 The Score,” and two years at ESPN in Bristol. The APD position opened after Rick Radzik was promoted to program director following Mike Thomas’ departure for WMVP-AM, Chicago “ESPN 1000.” Radzik says, “Jim has been with the station since day one. He’s done a great job, not only producing our midday programming, but also overseeing our New England Patriots game day broadcasts over the past decade. His institutional knowledge of the Sports Hub’s operation and relationships with the staff make Jim the perfect choice for the APD position.”
TALKERS News Notes. A new report from marketing firm Claritas and sales force Market Enginuity concludes that “podcast advertising campaigns result in an average 10 times lift relative to print, digital, and TV.” The white paper reports that “new marketing tools are allowing advertisers and marketers to gain deeper insights into the effectiveness of podcast channels. In November 2018, Claritas acquired the omni-channel attribution platform Barometric and has since collected and reported on campaign results across more than 100 advertisers, which drove a deeper analysis in the channel’s effectiveness as compared to non-podcast channels. This analysis, across industries such as consumer packaged goods, automotive, direct brands, finance and insurance, shows that while non-podcast channels historically result in a 2.6% lift in conversions – with common channels such as digital display at 1.1% lift, print at 2.4% and linear TV at 3.1% – podcast channels are driving 34% lift on average.” See more here…..Cadence13 announces an exclusive partnership with The Dolan Twins – brothers Ethan and Grayson Dolan – for the launch of their first-ever podcast, “Deeper with The Dolan Twins.” The Dolan Twins have a combined following of over fifty million followers across all platforms, have won five Teen Choice Awards in three years, and earned a spot on Time magazine’s list of Most Influential Teens. The weekly podcast debuts on Tuesday, February 25…..Cumulus Media’s Westwood One News has once again won the Golden Mike Award from the Southern California Radio Television News Association. Pictured at right is Los Angeles-based correspondent Jim Roope, who traveled to Normandy for the 75th anniversary of the D-Day invasion. This is the fifth consecutive year that Westwood One News and Roope have won the Golden Mike award.
Presidential Race, Covid-19 Pandemic/Locust Plague, DOJ Contoversy, Boy Scouts File for Bankruptcy, and U.S. vs Huawei Among Top News/Talk Stories Yesterday (2/17). The Democrats battling to take on President Trump in November and tomorrow night’s debate in Las Vegas; the coronavirus pandemic and the locust plague that affected East Africa moves to China; the controversy over Attorney General William Barr’s administration of the Justice Department and accusations it’s reducing Roger Stone’s sentencing recommendation under pressure from President Trump; under financial pressure from sex abuse lawsuits, the Boy Scouts of America files for bankruptcy; and the U.S.’s battle against China’s Huawei over its 5G platform were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
Girls Night Out. A great conversation between longtime radio pals took place along the waterway in Palm Beach Gardens, Florida as Compass Media Networks senior director of news/talk affiliate sales Susan O’Connell visited TALKERS South during her travels through the Sunshine State. Pictured (l-r): Former ABC Radio Networks executive Gloria Briggs, O’ Connell, TALKERS publisher Michael Harrison, and author/professor, Bernadette Duncan.
Music Radio News and Career Moves. Detroit’s “Mojo in the Morning” show is celebrating its 20th anniversary at iHeartMedia’s WKQI “Channel 955” with a special broadcast on Friday (2/21). The program, hosted by Mojo and Spike with co-host Shannon, will be broadcast live on WKQI as well as sister stations WSNX, Muskegon, Michigan and WVKS-FM, Toledo “92.5 KISS-FM.” Also appearing on the special broadcast will be original cast members Sara Fouracre, Chad Mitchell, and Eric Harthen. iHeartMedia Detroit SVP of programming Tony Travatto says, “‘Mojo in the Morning’ is the Mount Rushmore of Detroit radio. The talented cast and show are continually striving to do bigger and better things than before and have evolved over the years to connect even more with the Detroit community. ‘Mojo in the Morning’ is one of the most accessible, cutting-edge, and successful shows in Detroit and we’re honored to have it on our program lineup.”