Tag: "$74.1 million"
BIA: Local Radio Advertising to Fall by 10.7% in 2020. Revising its beginning-of-the-year projection that U.S. local radio advertising revenue (consisting of AM/FM, digital, and streaming) would be $14.3 billion, BIA Advisory Services reports that projection to now be $12.8 billion – a decrease of 10.7%. BIA breaks it down this way: $11.4 billion is expected to come from over-the-air sales and $1.4 billion should come from digital sales. BIA says, “By comparison, in 2019 local radio stations generated $12.8 billion in over-the-air revenue and just over $1 billion in digital. This was a 1.6 % decrease in total revenue from 2018.” BIA SVP and chief economist Mark Fratrik comments, “In 2018, we projected that radio’s digital platforms would reach $1 billion by 2019 and last year the industry hit this mark. For 2020, our ad forecast shows that digital sales, including streaming, will stay steady. Then by 2021, Radio online revenue will start to climb back up again. On the over-the-air side, we see a bigger COVID hit, with a steep drop in 2020 and some recovery back by 2021.” What sectors will make up the bulk of radio’s revenue? BIA says the finance/insurance industry will make up $2 billion, retail will account for $1.97 billion, automotive will contribute $1.5 billion, and technology accounts for $1.3 billion. BIA explains, “These industries may benefit from the continuing shift in radio listening from the car to the home as at-home audio environment features give consumers multiple opportunities to consume promotions. Streaming has become a major growth opportunity for broadcasters to maintain existing audiences and attract new, younger listeners. BIA’s revenue estimate drops to $12.5 billion when streaming ad revenue is not included.”
Suit Challenges USAGM Exec Michael Pack’s Firing of Agency Organization Heads. In a suit filed in U.S. District Court for the District of Columbia, the Open Technology Fund and four individual members of its board of directors are asking the Court to declare null and void U.S. Agency for Global Media chief executive Michael Pack’s recent firing of Open Technology Fund and news outlet leaders. The complaint argues that “Although funded by Congress through grants administered by the Agency, the four organizations targeted by Mr. Pack are not part of the government. Their employees are not government employees. They are private, nonprofit organizations with their own leadership and independent boards of directors. That is by design. Their mission, collectively, is to promote the free flow of information worldwide, especially in countries where authorities restrict freedom of expression. They do this through global efforts to combat online censorship and news broadcasts in 61 different languages, reaching 400 million people each day. But they can only be effective in countering disinformation and censorship if they are rightly perceived as independent, professional, and fact-driven—not as official mouthpieces for some partisan agenda.” Open Technology Fund chief Libby Liu tendered her resignation to take effect at the end of July but was terminated immediately by Peck. Also fired were: Bay Fang of Radio Free Asia, Jamie Fly of Radio Free Europe/Radio Liberty, Alberto M. Fernandez of Middle East Broadcasting Networks, and Emilio Vazquez of the Office of Cuba Broadcasting.
Cumulus Closes on $74.1 million Bethesda Land Sale. The deal to sell a 75-acre parcel of land in Bethesda, Maryland to developers Toll Brothers has been in the works for some time and yesterday (6/24) Cumulus Media was finally able to announce the $74.1 million deal has closed. Cumulus Media president and CEO Mary Berner says, “Given the difficult operating environment, our ability to continue to strengthen our balance sheet with the proceeds of this deal is particularly meaningful, and we greatly appreciate the efforts of Toll Brothers in working with us to bring this five-year effort to completion.” Net proceeds from the sale are expected to be $71.3 million after transaction fees and expenses. Cumulus anticipates achieving minor expense savings from the elimination of real estate taxes after the closing and does not expect any tax liability as it relates to the transaction. Net proceeds from the sale are required to be used to pay down debt, unless otherwise reinvested in the company’s business over the next 12 months.
PPM Analysis: Coronavirus Cume Factor (Part 2). TALKERS magazine managing editor Mike Kinosian continues his analysis of Nielsen Audio’s May 2020 PPM survey, today presenting part two of his look at cume changes for news/talk stations. In this report, Kinosian presents charts showing news/talk stations ranked from highest cume to lowest, cume increases from the April 2020 PPM survey to the May 2020 PPM survey, decreases from April to May, and a chart displaying the cume for all stations on our panel in the all-news, sports talk, and news/talk radio formats. See it all here.
COVID-19 Statistics & Projections, BLM Movement/Confederate & Colonial-Era Statues, Seattle CHOP Situation, Second Stimulus, Financial Markets Activity, Presidential Race, Flynn Charges Dismissed, Bubba Wallace Case, and MLB Season to Open Among Top News/Talk Stories Yesterday (6/24). The explosion of new COVID-19 cases in some states and projections of future cases and deaths; the protests supporting the Black Lives Matter movement and the related move to take down statues of Confederate and Colonial-era statues; Seattle asks CHOP protesters to leave the area and local business consider suing the city; the debate over a possible second COVID-19 federal stimulus package; the world’s financial markets react to COVID-19 data; Democrat Joe Biden enjoys positive poll news in his race against Donald Trump; the DOJ officially dismisses the charges against Michael Flynn; the FBI concludes the Bubba Wallace “noose” incident was not a hate crime; and the MLB prepares to open on July 1 were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
TALKERS News Notes. Today (6/25) at 2:00 pm ET, Cumulus Media | Westwood One is presenting a live webinar to release “brand new insights and studies on the state of the American consumer.” Covered in today’s event will be: Just-released J.D. Power automotive sales data for the week ending June 21 indicating it was one of the strongest auto sales performance weeks for new sales; new “Share of Ear” data from Edison Research on the audience duplication between AM/FM radio and Pandora and Spotify; how advertising can help businesses recover and reopen using a powerful new visual from marketing pro Les Binet; and more…..“The Money Pit Home Improvement Program” – syndicated nationally via Talk Shows USA – announces the addition of Free Fire Media’s KCNR-AM, Shasta/K243CT, Redding, California and WCJU Incorporated’s WCJU-AM, Columbia, Mississippi to its roster of affiliates…..Cox Media Group’s news/talk KRMG-FM, Tulsa and KOKI-TV “FOX23” are partnering with the American Red Cross in a two-day “Red, White and You” Blood Drive today and tomorrow (6-25/26). KRMG director of branding and programming Levi May comments, “This is one of our favorite events every year because it unifies our listeners in Green Country to work as a group to help people who live and work in their communities. Every pint donated to the American Red Cross can help save three lives. That’s a pretty impressive return on 30 minutes of your day.”
International Rock Musician/Impresario Leslie Mandoki Is This Week’s Guest on Harrison Podcast. Munich, Germany-based, Hungarian rocker Leslie Mandoki is this week’s guest on the award-winning PodcastOne series, “The Michael Harrison Interview.” Mandoki is a seasoned professional forged by experience, passion and life, who is keeping the spirit and quality of the progressive, jazz rock era alive and well for generations old and new. His ensemble, MANDOKI SOULMATES, is a long-running loosely knit association of some of the greatest big-name musicians on the planet. Their brand-new release, “Living in the Gap & Hungarian Pictures,” is a double album that expresses their ideals of socially aware lyrics and complex musical arrangements – basic tenets of the progressive and jazz rock era. In his youth, Mandoki escaped from communist Hungary to West Germany where he built one of the finest studio complexes in Europe, produced and performed on records, became friends with a wide network of great musicians including the legendary Ian Anderson of Jethro Tull and launched a progressive rock juggernaut. Countless gold and platinum records decorate his walls. He also wrote, produced, and performed the superb charity song dedicated to the heroes of the coronavirus titled #WeSayThankYou with Ian Anderson that has garnered positive attention on international radio and on YouTube. Harrison and Mandoki discuss the music, social issues and politics that make Leslie Mandoki a fascinating individual – largely unknown to Americans. 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.
Entercom Partners with Analytics Firm Deep Root. In what Entercom calls part of its “commitment to data-driven capabilities,” the company announces a partnership with audience-powered analytics company Deep Root that will allow Entercom to offer advertisers expanded targeting options. Entercom says, “This partnership will enable agencies, advocacy groups, and political campaigns to identify and reach Deep Root’s custom voter audience segments when advertising throughout Entercom’s robust portfolio of broadcast and digital assets. This includes access to Deep Root’s issue advocacy and political audience segments such as swing voters, blue collar voters, and environmentalists.” Entercom VP, data and analytics Dan McKinney adds, “Expansive reach and national scale allow radio and digital audio to serve as a reliable platform for brands and political campaigns to reach engaged consumers. Now more than ever, it is our responsibility to support these advertising partners with increased targeting to accomplish their specific goals. Partnering with Deep Root will allow us to better serve our trusted partners and enhance their capabilities when leveraging our audio assets to reach voters nationally and locally.”
New RAB ‘Open for Business’ Series Announced. The RAB announces that as part of its Business Unusual initiative, a new Open for Business live-video series titled, “Getting Your Billing Back On Track,” hosted by RAB SVP of professional development Jeff Schmidt takes place on July 14 at 11:00 am ET (a repeat viewing is available July 16 at 4:00 pm ET. RAB says, “As businesses across the country are reopening, it is time for sellers to rebuild their selling strategy. In this live-video presentation, Schmidt will share proven tools and resources account executives and managers can utilize to increase stations’ revenue and income at their stations and radio companies.” Registration is free to RAB members. To register, click here.
Music Radio News and Career Moves. Nationally syndicated urban contemporary “The Deja Vu Show” adds five new affiliates including: KBXT-FM, Bryan, Texas; KISX-FM, Tyler, Texas; KSSM-FM, Waco, Texas; KMJI-FM, Texarkana, Texas; and WRKA-FM, Louisville. The WBLS-FM, New York based afternoon drive show is syndicated via ABC Audio, whose executive director of business strategy Heidi Oringer says, “Throughout her career, Deja has drawn high ratings in every market where she’s heard. We’re thrilled that in syndication ‘The Deja Vu Show’ followed suit and is experiencing the same level of success and rapid growth. Deja’s insightful content and her standout personality draw large, diverse audiences. We’re excited that stations are adding ‘The Deja Vu Show’ to their lineups and equally excited that she is so favored by advertisers as well.”…..The Tom Kent Radio Network announces new affiliation deals with more great radio stations. Adding Tom Kent’s “Ultimate Party” is Midwest Communications classic hits WBOW, Terre Haute, Indiana; Draper Communications classic hits WTDK, Salisbury, Maryland adds “My 70s Show” and “Super 60s with Steve Kent”; and Delta Media’s urban AC KFXZ, Opelousas, Louisiana adds “Sweet Soul Weekend with Jeff Foxx.”