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Tuesday, August 3, 2021

| August 3, 2021

Townsquare Media 2021 Second Quarter Net Revenue Up 45%. The company releases financial data for the second quarter of 2021 and reports net revenue was $107.3 million, an increase of 45% over the same period in 2020. Townsquare Media says it achieved 99.4% of Q2 2019’s net revenue when excluding Live Events net revenue. Total digital revenue growth was up 36% year over year and contributed approximately 47% of the company’s total net revenue in the first six months of 2021. Townsquare CEO Bill Wilson says, “Over the next three years, we expect double-digit digital net revenue growth to continue, fueling the growth of our digital platform from $180 million of revenue (on a trailing twelve-month basis as of June 30, 2021) to $250 million. Most impressively, I am extremely proud to report that Townsquare’s second quarter Adjusted EBITDA of $30.3 million not only exceeded our expectations, our previously stated guidance, and 2019 levels (+1% vs. Q2 2019), but it was also the highest Adjusted EBITDA generated in any single quarter in Townsquare’s history. To accomplish this strong result only one year after the start of the pandemic is a testament to the strength of the Townsquare team, our digital platform and solutions for local businesses, and our careful expense management efforts.” Wilson adds, “As a Digital First Company, our digital revenue and profit growth has accelerated, driving the diversification of our business, total company growth and separation from our local competition. I am incredibly optimistic about Townsquare’s future, and very proud that we are on the path to achieving 2019’s Adjusted EBITDA in 2021, on the verge of a full revenue recovery in 2021, and plan on delivering strong revenue and profit growth in 2022.” Townsquare reports in three segments: Townsquare Interactive – its digital marketing solutions subscription business; Advertising – including broadcast and digital advertising products and solutions; and Live Events – including concerts, expositions and other experiential events. Advertising net revenue for Q2 of this year was $85.9 million, an increase of 50.4% over the same period in 2020. The company also reports net income of $10.1 million compared to the net loss of $28.9 million it posted during the same period a year ago. As of June 30, 2021, Townsquare had a total of $25.1 million of cash and cash equivalents and $550 million of outstanding indebtedness.

Jeff Rickard Named Brand Manager for WEEI, Boston; Ken Laird Promoted to Assistant Brand Manager. Boston sports talk outlet WEEI announces that Jeff Rickard is joining the station as brand manager, effective August 11. Audacy says that in this role, Rickard will oversee content operations for WEEI-FM and the WEEI radio network that spans the New England region. Rickard was most recently PD and morning host at Emmis Communications’ WFNI-AM, Indianapolis. During his career, Rickard spent almost 10 years in Bristol, Connecticut hosting ESPN Radio’s “Gamenight” program and served with Comcast as managing editor and anchor of the Boston-based “Out of Bounds Latenight” show. Rickard has also hosted shows regularly for numerous SiriusXM channels including: NFL Radio, ESPNU, MLB Network Radio, and Mad Dog Sports Radio. He has served as the host of NFL Radio’s “The Sunday Kickoff” during the NFL season for the past five years and is the host of “College Football Overtime” on ESPNU. He says, “Having worked in sports radio for virtually my entire career, I am thrilled to join the team at WEEI. Its rich history is well documented as is the unmatched passion of the Boston sports fan. I’m looking forward to pairing this talented team with fresh, new ideas to both reflect and match that passion.” At the same time, WEEI executive producer Ken Laird is being promoted to assistant brand manager. He’ll continue his role as update anchor and executive producer of the morning drive “Greg Hill Show.”

Ramsey Network Unveils New Podcast, ‘The Fine Print.’ The newest podcast from Ramsey Network is a show that shines a spotlight on the deceptive methods companies, marketers and scammers use to influence money decisions. ‘The Fine Print’ is hosted by Ramsey personality George Kamel and is “a bi-weekly show featuring interviews with experts and industry insiders about the money traps and trends keeping people broke.” Ramsey Solutions CEO and “The Ramsey Show” host Dave Ramsey says, “For 30 years, I’ve heard the pain in people’s voices when they call into the radio show because of a money trap that’s left them in a world of hurt. What if we could prevent that pain by empowering people to avoid the trap in the first place? That’s what ‘The Fine Print’ does. George educates listeners to recognize and steer clear of money minefields so they can be the heroes of their own stories.” Episodes of the podcast include: How TurboTax Is Screwing You; Could Bitcoin Be Your Ticket To Wealth?; The True Cost of Credit Card Rewards; The Dirty Truth Behind Your Credit Score; and How the Robinhood App Steals from the Rich AND the Poor. Find out more here.

LiveXLive and PodcastOne Announces Podcast Competition. This competition is called “Self Made Podcast Edition” and is “an audio competition to find the next big podcast star for PodcastOne.” The company says the competition will be driven by fans and PodcastOne’s panel of judges, as they listen to see who will take the top prize, a podcasting contract with PodcastOne and a total package worth over $100,000 including promotion across the network which features a roster of celebrity podcasters, including Adam Carolla, Kaitlyn Bristowe, Barbara Schroeder, Michael Irvin, and Jordan Harbinger.” The contest kicks off today (8/3) and is open to amateur podcasters only. The winner of “Self Made Podcast Edition” will be crowned on September 30, 2021 – International Podcast Day. PodcastOne president Kit Gray says, “There are so many wonderfully creative and innovative podcasters out there. We’re excited to be able to offer someone the opportunity to make their dreams of becoming a self-made podcast host come true.” Learn more here.

SiriusXM to Unveil Lucille Ball’s ‘Lost’ Radio Show on New Channel. The legendary comedienne is the star of the new SiriusXM channel called, “Let’s Talk to Lucy,” named after her 1960s CBS Radio program. SiriusXM says, “In between starring in four television series and more than 70 films, Lucy would frequently jump from set to set, tape recorder in hand, and talk about all aspects of life with some of the biggest names in Hollywood history, including Bing Crosby, Bob Hope, Dean Martin, Carol Burnett, Frank Sinatra, Barbra Streisand, and dozens more. These recordings eventually made it onto air when CBS Radio broadcast them as ‘Let’s Talk to Lucy’ from 1964-1965. However, for the last 50-plus years they’ve never been heard publicly again – until now.” Ball’s daughter Lucy Arnaz says, “Although I have been care-taking these ancient tapes for over 30 years, I had never really listened to them all and had no idea how many remarkable people Mom had talked to on these radio shows. It’s a treasure trove of personal information from some of the greatest talents of American entertainment and my family and I can’t wait to share them with the rest of the planet.”

TALKERS News Notes. Tomorrow evening (8/4), a debate among a number of the candidates running to replace California Governor Gavin Newsom in the September 14 recall election will will take place and Salem Radio Network is distributing the event nationally. It’s taking place from 9:00 pm to 10:30 pm ET at the Richard Nixon Presidential Library and Museum in Yorba Linda, California. SRN host Hugh Hewitt – who serves as president of the Richard Nixon Foundation – will moderate the debate along with panelists Christine Devine and Elex Michaelson of KTTV-TV, Los Angeles “FOX 11 News” and former U.S. National Security Adviser Ambassador Robert C. O’Brien. Special radio coverage will be anchored by KRLA, Los Angeles morning host Jennifer Horn and KRLA news anchor Larry Marino. SRN host and candidate Larry Elder is declining to take part saying his goal is “defeating Gavin Newsom not appearing in a circular firing squad with other Republicans.”…..Westwood One is expanding the role of sports media pro Rich Eisen within the network to include pregame and halftime hosting duties for “Monday Night Football on Westwood One.” The Monday night schedule kicks off on September 13, when the Baltimore Ravens visit the Las Vegas Raiders and concludes on January 3, 2022, when the Cleveland Browns battle the Pittsburgh Steelers. Eisen says, “‘Monday Night Football on Westwood One’ is one of the greatest hosting gigs in broadcasting and I’m honored to have the seat. The fact that I can expand my partnership with Westwood One beyond my daily show and podcast platform by talking even more football thrills me to no end.”…..The application window for programming candidates interested in applying to the “Elevating Women in Audio: MIW & BDSradio Mentorship” is being extended through Tuesday, August 10.  The “Elevating Women in Audio: MIW & BDSradio Mentorship” program is a year-long experience for women in music programming, provided by Mentoring and Inspiring Women in Radio and MRC Data (formerly Nielsen Music). Personalized conversations with the best programming minds in the business are geared to help advance a career within the radio/audio industry. Additionally, the mentee receives a scholarship to attend Radio Show 2021 this October in Las Vegas. The mentorship is available to one female brand manager, content/program director, assistant program director, and/or music director from any U.S. based music format. To apply, click here…..The popular finance and investing podcast “Pennies: Going in Raw,” hosted by Hugh Henne and Dan, the Deity of Dips, is now a part of the iHeartPodcast Network. iHeartMedia says, “With more than 2.3 million downloads, the podcast takes an exciting and informative spin on stock market topics like day trading strategies, volume, price targets, penny stocks, accumulation, reverse splits and much more. The show also features a range of guests from young, successful traders to the leaders of multi-billion-dollar companies, such as Netflix co-founder Marc Randolph, and CEO and founder of HimsAndrew Dudman…..Today through Thursday, WHO, Des Moines afternoon drive talk host Simon Conway (left) is pulling double duty as he fills in for Joe “Pags” Pagliarulo (right) on his Compass Media Networks nationally syndicated program. Conway’s WHO show is also heard on iHeartMedia’s WMT, Cedar Rapids and WOC, Davenport, Iowa…..iHeartMedia Pittsburgh’s Steelers Radio Network announces changes to its broadcast team. As part of the changes, Craig Wolfley, a former Steelers offensive lineman who has served as a sideline analyst on the Steelers game day broadcast since 2002, will join play-by-play announcer Bill Hillgrove in the broadcast booth as color analyst. Wolfley takes over for Tunch Ilkin, who retired after 23 seasons in the booth. Former Steelers offensive lineman Max Starks is joining Missi Matthews for sideline reports. He recently served as a sideline reporter for Westwood One. Starks will also join Wolfley as co-host of “In The Locker Room, Presented By Neighborhood Ford Store,” a daily, in-season radio program airing on Steelers Nation Radio.

COVID-19 Delta Variant and Masks, Eviction Ban Expires, January 6 Investigation, Voting Rights, Southern Border Policy, Infrastructure Bill, and Olympics Among Top News/Talk Stories Yesterday (8/2). The rising rate of COVID-19 Delta variant cases in the U.S. and abroad and the issue of mask mandates; the White House puts the onus on states as the federal ban on evictions expires; the investigation into the January 6 Capitol attack and the suicide of Capitol police officer Kyle DeFreytag; today’s planned DC rally supporting the For the People voting rights bill; the Biden administration continues the Trump administration policy of deporting illegal migrants; the $1 trillion bi-partisan infrastructure bill; and Simone Biles returns to the Olympics to win bronze in the balance beam were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.

Monday, May 10, 2021

| May 10, 2021

Monday Memo: Was Rush the Format? As the American comeback unfolds, polls demonstrate widespread optimism. “Yet,” consultant Holland Cooke reckons, there’s “a day-after-day negativity, a wearying sameness, among the half-dozen hosts vying for the Rush Limbaugh hours” on his affiliate stations. And in this week’s column, Cooke warns against typecasting the format as political talk: “If we learned one thing during the pandemic shutdown, it’s people’s appetite for ‘survival information.’” Read his column here.

Pending Business: Why Buy? Sales and marketing pro Steve Lapa says that if you ask yourself the question: Why buy advertising on your station, you know the answers to this in your sleep. “Yet why do three different sellers give three different answers? It sounds silly, but even at the best run stations, large market or small, my experience is the answers vary a little too much.” He offers eight questions to ask yourself that will help you formulate the answers to that question: Why buy? Read it here.

Townsquare Media Q1 Net Revenue Down 5.1%; Digital Revenue Up 13%. Reporting its financial data for the first quarter of 2021, Townsquare Media reveals total net revenue was $88.8 million, a decline of 5.1% from the same period in 2020. The company’s net loss shrinks dramatically from $59.5 million in the first quarter of 2020 to $6.1 million in Q1 of 2021. Operating income also did an about-face, shrinking from a loss of $72.1 million in Q1 of 2020 to income of $8.8 million this year. Townsquare Media CEO Bill Wilson says, “We are extremely proud to report that Townsquare’s first quarter 2021 results approached, and in some cases exceeded, levels achieved in the pre-COVID first quarter of 2019, which surpassed our expectations and previously stated guidance. In the first quarter of 2021, net revenue declined -5% year over year, and -1.6% excluding political and Live Events net revenue. When excluding Live Events net revenue, first quarter net revenue increased +0.3% as compared to the first quarter of 2019. Total digital revenue growth accelerated to +13% year over year (+32% vs. Q1 2019), contributing nearly 49% of Townsquare’s total first quarter net revenue. Our digital revenue growth was fueled by Townsquare Interactive, our digital marketing solutions subscription business, Townsquare Ignite, our digital programming advertising platform, and Townsquare Amped, digital advertising on our owned and operated brands, which increased revenue year over year by +15%, +12%, and +11%, respectively. Impressively, TSI, Ignite, and Amped’s first quarter net revenue exceeded Q1 2019 revenue levels by +34%, +45%, and +15%, respectively. Over the next three years, we expect to grow our digital net revenue from $167 million (on a trailing twelve-month basis as of March 31, 2021) to $250 million. The strong growth of our digital revenue, together with our strong expense management, led to Adjusted EBITDA increasing nearly +30% over the prior year. I am especially proud to share that first quarter Adjusted EBITDA of $20.1 million is +$1.3 million, or +7%, higher than Q1 2019’s pro forma Adjusted EBITDA, and +$2.1 million, or +12%, higher when excluding profit from Live Events.”

The Mayor and the Mobster. Nationally syndicated Compass Media Networks talk star Joe “Pags” Pagliarulo scored an amazing one-hour double interview with former NYC Mayor Rudy Giuliani and former high-profile mobster Michael Franzese last week which he ran on Tuesday through Friday (5/4-7) as a four-part special series on his radio show titled, “The Mayor and the Mobster.” Giuliani prosecuted Franzese 40 years ago at a time when the two men were arch enemies. Much has changed since then in terms of their relationship. In a fascinating conversation about the nature of crime fighting, prosecution, and redemption, the two men have more than reconciled their differences as indicated in a wonderful interview conducted brilliantly by Pags. You can watch the entire 56-minute conversation captured on video by clicking here.

Missouri House Passes Bill to Make January 12 ‘Rush Limbaugh Day.’ The Missouri House of Representatives passed a bill last Thursday (5/6) that would make January 12 “Rush Limbaugh Day” in honor of the Cape Girardeau, Missouri native who died in February at age 70. The bill met with opposition from Democratic House members, including Rep. Ashley Bland Manlove who criticized Limbaugh for “constant attacks on Black people and other people of color,” according to a report by the AP. Republican Rep. Sara Walsh, a supporter of the bill, said, “Rush demonstrated courage to speak boldly and encouraged his listeners and viewers to reach for their dreams and to push onward beyond the naysayers and discouragers that we all encounter in life.” The bill must pass the Missouri Senate before it moves on to the governor’s office.

AdLarge and Sounds Profitable Partner for ‘Up Next – A Podcast UpFront.’ Audio ad sales network AdLarge Media partners with podcast ad tech publication Sounds Profitable to launch Up Next – A Podcast UpFront. The companies say that “embracing a ‘never-been-done-before’ concept, Up Next utilizes the podcast format to promote podcasting with two acclaimed industry leaders hosting the series, FRQNCY founder/CEO Michelle Khouri and Edison Research SVP, Tom Webster. The idea originated from a brainstorming session between the leadership team at AdLarge and Sounds Profitable and is NOT an event but rather a podcast series specifically designed to showcase the multiple facets of the podcast industry including publishers, networks, content producers, and more. No special invitation required to listen to the podcasts, they are available to everyone.” In the first season of the Up Next series, AdLarge’s premiere episode focuses on the power of podcast advertising in addition to exploring the intriguing and valuable aspects of the podcasting world. The AdLarge season consists of six episodes, which also includes sample episodes from some of the most favored podcasts in the space today such as: “Crime Junkie,” “Swindled,” “The Hey Girl Podcast,” “The Trip,” and “Kill Me Now with Judy Gold.” AdLarge SVP, head of revenue operations & digital sales Ilwira Marciszek says, “It’s crazy that no one thought of this earlier. We know podcasts get results. This is the perfect way to get in front of people on their own time. I’m beyond thrilled to use the medium we’re selling to showcase the power of podcasting.” You can learn more here.

Broadcasters Foundation of America Seeks Donations to Counter Lost Fundraising Events. The Broadcasters Foundation of America is in need of donations to counter the loss of funds from major fundraising events that were cancelled due to the coronavirus pandemic. A 501(c)3 charity, the BFoA is the only organization dedicated exclusively to providing financial aid to broadcasters and their families whose lives have been upended by debilitating illness, accident, or catastrophe. BFoA chairman Scott Herman says, “In its more than 70 years of existence, the Broadcasters Foundation has provided financial assistance to every broadcaster who qualified, and we want to continue that track record. These men and women are our colleagues, and unthinkable tragedy has left them unable to work. We cannot turn our backs on them.” Cancelled fundraisers for the Broadcasters Foundation include the Celebrity Golf Tournament, the Golden Mike Award, and the Philip J. Lombardo Charity Golf Tournament. Personal and corporate donations can be made here.

COVID-19, GOP vs Cheney, Rising Consumer Goods Prices, Weekend Gun Deaths in U.S., Gas Pipeline Hack, Biden’s Infrastructure Plan, Afghanistan Girls School Bombing, and Arabian Sea Arms Seizure Among Top News/Talk Stories Over the Weekend. The rate of COVID-19 cases in the U.S., vaccine hesitancy, and the outbreak in India; U.S. Rep. Liz Cheney faces losing her GOP leadership role for not carrying the stolen election banner; concerns about the fast-rising prices of gas and consumer goods; the slaying of six at a Colorado Springs birthday party and numerous other gun deaths over the weekend; the hacking of a gas pipeline by Russia-based operatives; President Joe Biden to push his infrastructure plan this week; the bombing at a girls school in Afghanistan that killed 85 people; and the U.S. Navy seizes a large weapons cache in the Arabian Sea were some of the most-talked-about stories on news/talk radio over the weekend, according to ongoing research from TALKERS magazine.

Michael Harrison Animal Welfare Music Video Going Viral on YouTube. The animal welfare anthem “I Know You’re Real” that appears on the new Gunhill Road album What Year Is This! has been picking up an accelerating number of views this past week – approximately 1,400 per day – solely based thus far on radio interviews. The song’s lyrics, penned by Michael Harrison and recited by him on the recording and video, discuss the metaphysical nature of the relationship between humans and animals as well as the connectedness of all sentient life forms to the universe at large. The video, described by talk media host Thom Hartmann as “a masterpiece,” displays a fascinating array of photos and video clips depicting animals – domestic and wild – and cosmic images. Harrison recently became a regular working member of the legendary NYC-based band that has been around since the late 1960s. To book Harrison to appear as a guest talking about animal welfare, cosmic consciousness, and the golden days of FM rock radio, please contact him directly at michael@talkers.com or call Barbara Kurland at TALKERS at 413-565-5413.  To view the video, please click here.

Pending Business: Why Buy?

| May 10, 2021

By Steve Lapa
Lapcom Communications Corp
President

 

PALM BEACH GARDENS, Fla. — Stand by for our first personal one-on-one meeting. Lots of questions will follow, so get ready for some self-talk.

Why buy advertising on your station? You know the answer(s) to this in your sleep. Yet why do three different sellers give three different answers? It sounds silly, but even at the best run stations, large market or small, my experience is the answers vary a little too much. Try this. Don’t think, just grab a pen and write the first answer that comes to mind. Why buy? If you say, “It depends on the advertiser,” read on.

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Pending Business: One Year Later

| March 22, 2021

By Steve Lapa
Lapcom Communications Corp
President

 

PALM BEACH GARDENS, Fla. — Last weekend, as the Uber left a bustling Florida airport and headed towards my home, in the distance, hovering overhead in a perfect spring sky was the iconic Goodyear blimp. Since the 1955 Rose Bowl, when the Goodyear blimp responded to the NBC request to carry a TV camera, the blimp means live sports and that means sponsorships.

There you have it. In one brief sentence, more clues that business is coming back.  Masked Uber drivers are out and about again, masked travelers are filling airlines, hotels, and airports.  Albeit at a tempered pace, sponsored outdoor sporting events are feeding local economies. It may not be at past levels, but remember last year at this time? Take what you can, when you can.

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Monday Memo: Radio Has a 100-Year Head Start

| March 14, 2021

By Holland Cooke
Consultant

 

BLOCK ISLAND, RI — Podcasting: Steady growth continues, as other new-tech audio media plateau. You hear promos in network spots on-air, inviting listeners to listen to something else (without the controversy we remember from when stations accepted-or-refused advertising as satellite radio launched). And cover-up spots on Tune-In and Alexa are a parade of podcast promos.

Podcasting is an expression of a trend already-in-motion, accelerated by pandemic #StayHome: Consumption is moving from analog/real-time to digital/on-demand. A Vanity Fair article notes that, “during lockdown, news and comedy podcast listening spiked as people searched for both accurate political updates and distraction;” and predicts that, “after COVID, scripted content like children’s podcasts and Spanish-language programming will continue to rise.”

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