Tag: "digital revenue"
Audacy Third Quarter Net Revenue up 23%. Reporting its 2021 third quarter financial data, Audacy says net revenue was $329.4 million, an increase of 23% compared to the same period in 2020. Spot revenue was $220.6 million, up 21% compared to Q3 of 2020 and digital revenue was $61.4 million, up 30% compared to the same period a year ago. Operating income for the quarter was $29.2 million, compared to an operating loss of $0.3 million in the third quarter of 2020. Audacy president and CEO David J. Field says, “I am pleased to report that Audacy continues to rebound from the pandemic, as third quarter revenues grew 23% over the prior year and 8% sequentially over the second quarter, while EBITDA grew 58% year over year. While many ad categories remain highly impacted as a result of the pandemic, it is great to see an increasing number of categories back above 2019 spending levels. During October, we announced the acquisition of WideOrbit’s digital audio streaming and ad tech business, which we have relaunched as AmperWave, enabling us to accelerate our digital product roadmap and enhance our growth potential… And our podcast studios had a strong quarter of creative, premium original content development including the first release from our 2400Sports studio, our first C13 Features ‘movie for your ears’ in partnership with Endeavor, and the ‘Succession’ companion podcast hosted by Kara Swisher in partnership with HBO Max. We continue to rapidly evolve and fundamentally elevate the organization through a series of strategic acquisitions, organic growth initiatives, structural improvements, talent additions and premium content development and are well positioned to accelerate our growth and capitalize on the exciting opportunities in the dynamically growing audio marketplace.”
Cumulus Audio Active Group: October PPM Audiences Increase. This week’s Cumulus Media Audio Active Group blog focuses on recent information from Nielsen Audio that “as COVID infections fall, public concern over COVID wanes, and commutes to work and school resume,” American AM/FM radio listening “has increased to new highs in the October 2021 48 Portable People Meter markets.” Other noteworthy data includes: 1) Consumers are on the road in their cars; Geopath reports U.S. October 2021 miles traveled were 7% greater than October 2019; Apple Maps says October 2021 driving search volumes surged 59% past pre-COVID levels; 2) U.S. AM/FM radio had its strongest reach performance since COVID, recovering 99% of the March 2020 PPM cume audience in PPM markets; 3) Nielsen October 2021 PPM AQH audiences rose to 96% of March 2020 levels, the second best showing since the pandemic; and 4) Morning audiences exploded to their highest levels in 20 months; Versus a year ago, women 25-54 AQH increased 20% and teen AQH rose a massive 74%. See more from the blog here.
SiriusXM’s Joe Madison Announces Hunger Strike Over Voting Rights Bill. Morning drive talk host Joe Madison says he’s beginning a hunger strike in protest of voting rights not getting passed in the Senate. Madison – a.k.a. The Black Eagle – hosts the morning show on SiriusXM’s Urban View channel. He says, “As a political protest, I am beginning a hunger strike today by abstaining from eating until Congress passes, and President Biden signs, the Freedom to Vote Act or the John Lewis Voting Rights Advancement Act. Both bills were recently passed by the House of Representatives and both have stalled in the Senate. Madison adds, “I call it basically starving for voting rights. And that began on this date. And I repeat just as food is necessary to sustain life, the right to vote is necessary to sustain democracy. Yes, my life matters. My health matters, but our right to vote matters more.”
Hot Radio Guest Speaks at Major Libertarian Gathering. Emeritus finance professor Dr. Murray Sabrin of Ramapo College in New Jersey – one of conservative and liberty-minded talk radio’s most popular “go-to” guests for three decades – recently spoke at the Mises Institute “Supporters Summit” in St. Pete Beach, Florida and outlined his provocative and innovative strategy for medical freedom. Sabrin is the author of Universal Medical Care from Conception to End of Life: The Case for a Single Payer System, where the individual/family is the single payer not the government. In Sabrin’s proposal, medical freedom consists of cash payment for routine care, a super health savings account for more expensive treatment and a catastrophic insurance policy. Also, Sabrin advocates a massive expansion of nonprofit medical centers to replace the $700 billion Medicaid program. He also challenged U.S. Sen. Bernie Sanders (D-VT), who advocates Medicare for All, a government single payer system, to a debate so the American people can hear two diametrically opposing views on the future of medical care in America. To book Professor Sabrin as a hot guest, contact Victoria Jones of DC Radio Company at 917-865-3991 or email@example.com. To view Dr. Murray Sabrin’s 20-minute speech at the Mises Institute event, please click here.
Outkick Partners with Skyview Networks for Ad and Affiliate Sales, Content Distribution. The new relationship between OutKick’s sports talk network and Skyview Networks will have the latter providing network ad sales, affiliate sales and content distribution to Outkick, beginning with the “Outkick 360” program starring Jonathan Hutton, Chad Withrow and Paul Kuharsky. Outkick founder Clay Travis says, “We’re thrilled to work with Skyview to expand OutKick’s brand and reach. Beginning with the ‘OutKick 360’ show, we’re working with the best talent to bring authenticity, perspective and fun back to sports radio. Radio is at the core of OutKick, and we could not ask for better partners than Skyview to grow our network.” Skyview COO and president Steve Jones adds, “We’re excited to be working with the OutKick team in launching a new sports network that provides radio stations dynamic and entertaining programming that will drive ratings and revenue. OutKick’s engaging and knowledgeable hosts with their fan-first sports perspective matched with sports wagering analysis to capture gaming revenue sponsorships fit perfectly with Skyview’s #1 local play-by-play sports position in network radio.”
Audacy Names Brian Benedik Chief Revenue Officer. Media executive Brian Benedik is named chief revenue officer for Audacy, effective December 1. Benedik was most recently VP/global head of revenue for augmented reality developer Niantic. In his new role with Audacy, he’ll lead all aspects of revenue generation across corporate, national, regional and local levels and develop fully integrated, multiplatform sales solutions and breakthrough strategies to attract new revenue streams. Audacy COO Susan Larkin comments, “We’re thrilled to welcome Brian to Audacy and our executive leadership team. His resume speaks for itself, with key roles at audio publishers like Spotify, iHeart Radio, Audible and Katz Media, where his strategic vision enabled the former to quickly elevate from a newcomer in our industry to a multi-billion-dollar leader in the audio streaming space. Brian’s considerable expertise and experience will amplify our revenue generation efforts as Audacy continues its upward trajectory.” Benedik states, “The audio industry is booming with innovation and consumers are enjoying wonderful content experiences across a number of platforms. The Audacy re-imagination efforts are beyond impressive and the portfolio of assets across radio, streaming, podcast, live events, sports play-by-play and sports betting are best in class. I’m looking forward to working with David Field, Susan Larkin and the Audacy executive team to drive value to marketers and our loyal users.”
Biden’s Low Approval Ratings, Supply Chain/Inflation/Gas Prices, COVID-19, January 6 Investigation, COVID Travel Ban Lifted, China’s Military Aggression, and Astroworld Investigation Among Top News/Talk Stories Yesterday (11/8). President Joe Biden’s approval ratings slip to an all-time low of 38% with Americans saying he’s not focusing on the most important issues; the effects of the broken global supply chain, soaring retail prices and record high gas prices; the rate of COVID-19 cases in the U.S., the Appeals Court halt of Biden’s vaccine mandate, and the controversial case of Aaron Rodgers; the investigation into the January 6 Capitol attack; the U.S. lifts the international travel ban; China’s war games using U.S. ship mock-ups; and the investigation into the deadly Astroworld concert in Houston were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
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 Hims, Andrew 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.