Beasley Broadcast Group’s Q4 2020 Net Revenue Declines 5.1%. Reporting on the fourth quarter and the full year of 2020, Beasley Broadcast Group – parent company of Beasley Media Group – reports net revenue of $68.5 million for the fourth quarter, a decline of 5.1% over the same period in 2019. For the full year, net revenue was $206.1 million, a decrease of 23.7% from the $261.6 million reported in 2019. There was positive news from the fourth quarter as operating income rose 54% to $19.6 million and station operating income increased 25.2% to $20.1 million. However, for the full year of 2020, the company posted an operating loss of $4.3 million and station operating income declined 86% to $24 million. Beasley CEO Caroline Beasley states, “Beasley’s 2020 fourth quarter financial results reflect the ongoing recovery of our business and solid execution by our teams in generating sequential quarter-over-quarter revenue growth that exceeded the high-end of the preliminary range we announced in January. During the quarter, we continued to navigate the ongoing pandemic-related challenges exceptionally well. The meaningful actions we have taken over the past nine-months, including reducing station operating expenses and negotiating discounts with service providers and partners, resulted in 28.8% year-over-year growth in SOI and improved SOI margin as well as a 62.4% increase in station operating income less corporate expenses. In addition, despite the pandemic and restrictions in certain markets, we generated fourth quarter free cash flow of $16.8 million, inclusive of the $4.6 million net gain from dispositions, which compares very favorably to the $20.7 million of free cash flow in the year ago period which benefited from $21.8 million in dispositions. Record fourth quarter net political revenue of $10.2 million, combined with the resumption of advertising in key categories, drove year-over-year revenue increases in six of our station clusters. Excluding political revenue, Beasley continued to generate sequential month-over-month revenue growth, with October up 8.3% over September and November up 2.0% over October, while December paced slightly behind November due to a tightening of COVID-19 restrictions in certain markets. Notably, our continued emphasis on strong local content drove best-in-industry ratings performance for our station clusters in the fourth quarter, according to Nielsen, and our cumulative on-air audience share has grown consistently since March.”
TALKERS and Industry Mourn the Passing of Marcia Daly. Longtime TALKERS executive art director and advertising coordinator Marcia Daly, 67, unexpectedly passed away on Thursday, February 4 at her home in Westfield, MA. One of the original members of the TALKERS staff since its launch in 1990, she was a key component of both the company’s management and production teams and a beloved friend and colleague to countless professionals in the broadcasting industry across America. In that capacity, she worked closely with some of the biggest names in the talk show industry on their art, logos and advertising campaigns and was widely respected for her tremendous talent and reputation for kindness. In announcing the sad news, TALKERS publisher Michael Harrison said, “Marcia Daly was an invaluable component in the rise and ongoing success of TALKERS for the past 31 years serving as an ever-dependable teammate and friend to those of us fortunate to have had her in our lives. In addition to being an extremely accomplished and talented artist, she was known far and wide for having a heart of gold and being one of the kindest and most generous people one could ever hope to know. All of us at TALKERS are stunned by this terribly sad news and pray for Marcia’s family and friends.” She is survived by her husband of 44 years, Joseph Daly. Born in Springfield, MA to Donald Van der Wolk and Betty (Moynihan) Van der Wolk, she leaves behind children, Kathleen Daly of Westfield, MA and John Daly of Medford, MA. A dedicated member of Blessed Sacrament Church, in Westfield, MA, Marcia Daly actively volunteered with the Soup Kitchen and Take & Eat. A cat lover, gourmet cook and baker, and a huge fan of crime dramas, she made friends everywhere she went and had a positive impact on everyone she met. A funeral mass will be held on Friday, February 12, 2021 at 11:00 am ET in Our Lady of the Blessed Sacrament Church, 127 Holyoke Road, Westfield. It can be virtually attended via livestream at https://my.gather.app/remember/marcia-daly. In lieu of flowers, donations in Marcia Daly’s honor may be made to The Sisters of St Joseph, 577 Carew Street, Springfield, MA 01104.
Entercom and TEGNA Strike Deal for Locked On Podcast Network. This new content agreement between Entercom and TEGNA – which recently acquired the local sports podcast network Locked On Podcast Network – puts Locked On’s extensive lineup of professional and collegiate sports podcasts featuring analysis from local experts, writers, reporters, and insiders, on Entercom’s RADIO.COM platform. The deal also calls for the development of new content, including co-produced and co-branded podcasts, a daily sports news podcast featuring hosts from leading RADIO.COM sports stations and local experts from Locked On, and two weekly one-hour programs, produced by Locked On, available on Entercom radio stations and RADIO.COM. Entercom chief digital officer J.D. Crowley says, “We’re aggressively leveraging the value of our national dominance in sports programming and content in audio, digital and sports betting platforms and our agreement with Locked On reflects continued progress on this front. As the number one creator of live, original local audio content, we’re excited to add Locked On’s collection of top-rated podcasts to our portfolio, welcome their eight million monthly listeners nationwide to the RADIO.COM platform and make their inventory available to our advertising partners.” The first podcast co-produced under the partnership will be “Locked On Today,” hosted by “Locked On Packers” host Peter Bukowski. The program will be “a fast-paced take on the biggest sports stories of the day, going beyond the scoreboard and behind the scenes for insight and perspective from the local experts of the Locked On Podcast Network and Entercom sports radio stations.”
iHeartMedia Unveils iHeart 3D Audio for Podcasts. A new slate of podcasts from iHeartMedia will be released using the binaural or 3D audio technology the company is calling iHeart 3D Audio that “places listeners into the middle of an audio soundscape, immersing them in the story like never before.” The company says 3D audio “creates a sense of movement, location and triggers other senses, enhancing listening experiences and providing a new way for people to hear high quality, surround sound, immersive content, and reproducing real-life experiences, much like virtual reality has done for video, right in their own homes.” iHeartPodcast Network president Conal Byrne says, “Podcasting has undoubtedly stepped in as one of this year’s most relied upon forms of entertainment. We’ve seen a huge spike in listenership and iHeart wants to ensure we’re meeting this growing audience in new, innovative ways. This is virtual reality for the ears, and by expanding our 3D audio offerings, our goal is to place fans at the center of the stories they love – in an even more immersive, innovative format.” iHeartMedia will launch a new slate of podcasts that is underpinned by the unique recording technology.
Moore and Squire Promoted at iHeartMedia Philadelphia. Two executives at iHeartMedia’s Philadelphia station group are promoted. Jeff Moore is named market president, rising from his previous post as senior vice president of sales, and Chris Squire is elevated to the SVP of sales position. Moore says, “I am thrilled to have the opportunity to lead this great team of successful sales and programming professionals in Philadelphia while representing some of the most iconic brands. My mission is to continue to build a winning culture that attracts the best talent and has a positive impact on our employees, brands and the community we serve.”
TALKERS News Notes. Based on data from the Podcast Consumer Tracker, Edison Research releases its first chart of the U.S. top 50 podcasts of 2020. In the top five positions are: 1) The Joe Rogan Experience 2) The Daily 3) Crime Junkie 4) This American Life and 5) My Favorite Murder. You can see the complete list here…..LiveXLive Media, owner of PodcastOne, Slacker Radio, and React Presents, announces today’s release of “Valentine’s Day In Hell.” The six part musical-horror-comedy podcast marks the first production of the recently announced joint venture with LiveXLive and Audio Up Media. “Valentine’s Day In Hell” features some of today’s hottest recording artists, top social influencers, and media personalities in starring roles. Those starring in the podcast include iann dior, jxdn, Oliver Tree, phem, and recent Billboard 21 Under 21 artist, Carlie Hanson – with Adam Carolla playing the devil.….Cumulus Media’s Westwood One announces the weekly podcast, “Brown Ambition,” to the Westwood One Podcast Network. Hosted by Mandi Woodruff and Tiffany Aliche, the program offers “life-changing financial advice and resources for women and other communities that have been excluded from the essential financial conversations necessary to thrive. Business Insider named ‘Brown Ambition’ one of ‘the best personal finance podcasts of 2021.’” Woodruff says, “When we started ‘Brown Ambition’ more than five years ago, we knew we wanted to create a unique space for women of color to feel empowered to build wealth and take charge of their careers unapologetically. I’m so proud of the organic growth we have achieved with the show thanks to the loyal listeners who have made us part of their weekly routine all these years.”…..The “Under the Hood” car talk show, hosted by Shannon Nordstrom, Russ Evans, and Chris Carter, moves into new studios. The program says that “this expansive project features all-new, state-of-the-art equipment throughout, including HD streaming video with an automatic switching system.” The show is also broadcast live in its home market on KELO-AM, Sioux Falls, South Dakota with the syndicated version of the radio show airing on more than 240 stations.
Impeachment Hearing, COVID-19 Stats & Vaccines, WHO’s China Investigation, Deadly Minnesota Clinic Shooting, and Supremes Singer Mary Wilson Dies Among Top News/Talk Stories Yesterday (2/9). The opening day of the impeachment case against Donald Trump; the number of COVID-19 cases and deaths in the U.S. and the rollout of vaccines; the World Health Organization reports its investigation into the origin of the coronavirus was likely not the result of a lab breach; a Minnesota man kills one and injures five at a health clinic in Minnesota; and Supremes singer Mary Wilson dies at 76 were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.