Industry News

Salem Media Group Releases 2023 Annual Report

Salem Media Group’s total net revenue for the full year of 2023 was $258.6 million, a decrease of 3.1% from the full year of 2022, according to its just-released annual report. The company saw operating expenses rise from 2022 to 2023 and took a considerable impairment charge on its long-term assets that factored heavily into it reporting a net loss of $43.3 million in 2023, compared to the net loss of $3.2 million it posted in 2022. Salem operated three business segments: broadcast, digital, and publishing.im The company states, “Net broadcast revenue decreased 3.7%, or $7.6 million, principally due to a $7.3 million decline in national and local spot advertising revenue. Spot advertising revenue has been declining in the industry due to reduced time spent listening, particularly on AM radio stations. Also, the political revenue decreased $3.6 million, or 61.5% to $2.3 million from $5.9 million. This decrease was partially offset by an increase in our broadcast digital revenue which increased $1.5 million or 4.1% due to increases from Salem Podcast Network, Salem News Channel and digital marketing services through Salem Surround. On a Same Station basis, net broadcast revenue decreased 4.0%, or $8.2 million, which reflects these items net of the impact of stations acquisitions and dispositions.” On the digital side, the company reports, “Net digital media revenue increased 0.7%, or $0.3 million. Net digital advertising revenue decreased due to Facebook algorithms that limit political content, the growing use of browsers that block third-party cookies limiting advertising, and the overall state of the economy that has weakened demand for advertising resulting in a lower number of advertisements and a reduction in rates.” Salem’s 2023 annual report can be found here.

Industry Views

Pending Business: Q2

By Steve Lapa
Lapcom Communications Corp
President

imHave we passed the disappointment of 2023?

If ad sales at your radio station finished last year up double digits (excluding digital) please skip past the next few paragraphs. If you’re in the same boat as most radio ad sellers across the country at various levels – i.e. local, national, syndication, network – last year was a struggle.

Now then, how is Q1 shaping up?

Are you making up for lost ground, like the airline business, automotive business, restaurants or are you still pushing that boulder uphill? Here is some straight-from-the-field unfiltered feedback:

1. Valentine’s Day at most restaurants was one of the busiest on record. People at the packed-in table next to ours waited two hours after sitting to be served. So much for a 6:45 pm reservation. They got free dessert. Seriously?

2. Travel is back, make no mistake about it. Discount airfares are a thing of the past on the big-name airlines. At 6’2” I really believe my knees should not be touching the seat in front of me in comfort class on most major airlines.

3. Try negotiating a new car deal this month. No, not the incentives on the 2023 models, I’m talking 2024 in 2024. As the goodfellows said back home, fuhgeddaboudit.

There is nothing wrong with trying to make up for the lost income of the Covid years. After all, testing the pricing upside in business is the American way. We pay more, tip more, and adjust. It is the Darwin theory eating into our wallets every day. So why are most broadcast radio sales teams at all levels still throwing it against the wall to see what sticks? I see it every day in my marketing work. We have lost touch with the excitement, the “wow” factor, the customizations, the basic intangibles of selling the great talent we represent.

Let us learn from other successful businesses. Travel pitches pent-up demand, restaurants make sure you will get the special occasion marketing message no matter where you are, and the auto business, well the ships and chips are in!

What do we not understand about the current weakness in our broadcast radio sales strategy?

1. How current is your value proposition? Successful podcasters like Joe Rogan and Alex Cooper along with YouTubers, Facebook, Instagram, and all social media have changed the game-forever. How does your value proposition stand out today?

2. Talk radio will not go away. Programmers and talent will learn what they need to adjust to refocus one of the great radio formats ever created since someone said, “Let’s play the top 40 songs over and over.”

3. Let us start re-thinking what broadcast radio sellers need to prioritize to make a difference-today.

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.

Industry News

RTDNA Announces Winners of 2023 National Edward R. Murrow Awards

The Radio Television Digital News Association announces the winners of the 2023 National Edward R. Murrow Awards. This comes after the winners of the Regional Edward R. Murrow Awards were announcedim earlier this year. RTDNA says the awards honor “outstanding achievements in broadcast and digital journalism… the Murrow Awards recognize local and national news stories that uphold the RTDNA Code of Ethics, demonstrate technical expertise and exemplify the importance and impact of journalism as a service to the community.” Some of this year’s winners in the radio category include: Audacy’s WBBM-AM/WCFS-FM, Chicago (Breaking News); KDKA-AM, Pittsburgh (Feature Reporting); KMOX, St. Louis (Newscast); and iHeartMedia’s WBZ-AM, Boston (Excellence in Innovation). See the complete list of winners here.

Job Opportunity

WTN-FM, Nashville Seeks Talk Host

“SuperTalk 99.7 WTN” in Nashville has an amazing opportunity for the right person. The station is looking for someone who knows and understands PPM strategies or is willing to learn and execute these tactics to win. WTN is one of America’s best live and local talk stations in one of our nation’s best cities. You need to be relevant and able to talk about local and national issues, weave through interviews and audio seamlessly and handle segments and hours with or without phone calls. This isn’t a job for a beginner, but a seasoned professional who knows how to entertain and inform! Find out more and apply here.

Industry News

AWMF Announces 2023 Gracie Award Winners

The Alliance for Women in Media Foundation (AWMF) announces the winners of the 48th Annual Gracie Awards that recognize outstanding programming and individual achievement created by women, for women, and about women in all facets of media in news and entertainment. Winners will be honored at a gala event on May 23 at the Beverly Wilshire in Los Angeles. The local and student award-winners will be recognized at the Gracie Awards Luncheon on June 20 at Cipriani in New York. AWMF president Becky Brooks says, “As we close out Women’s History Month, it is important to remember the legacy of Gracie Allen, the inspiration behind these esteemed awards. This year’s recipients exemplify Gracie Allen’s spirit through their exceptional talent, innovation, and vision. Their steadfast dedication to their craft and their tenacious resolve to break boundaries serve as a compelling testament to the essential role women play in molding the cultural landscape. We eagerly anticipate celebrating their outstanding accomplishments.” Winners in the radio category (national and local) in commercial news or talk formats include: Jai Kershner, “Good Day Show,” Outstanding News Anchor; Mandy Connell, iHeartMedia, Host Non‐Morning Drive; Christina Musson, KMJ AM/FM Fresno, Co‐host (Talk/Personality) Small/Medium Market; Marcy Williams, WSB-AM/WSBB-FM, Atlanta, Outstanding News Reporter; “Talking Golf with Ann Liguori,” WFAN, New York, Talk Show ‐ Sports; and “The Gee and Ursula Show,” KIRO-FM,  Seattle, Talk Show ‐ Talk. See the complete list of winners here.

Industry News

Kilmeade, Caracciolo, and Hurley Talk Connections at Conference

A special discussion exploring the delicate balance between local, national and cross-platform talk media elements is set as one of the many sessions comprising the forthcoming TALKERS 2023 conference on Friday, June 2 at Hofstra University on Long Island. Brian KilmeadeJohn Caracciolo, and Harry Hurley will engage in a conference-closing conversation titled, “Cross Currents of Talk Media.” It will examine the delicate balance between local, national, and multiplatform elements of the ever-evolving talk media space. Brian Kilmeade is a nationally known talk star hosting separate shows on FOX News Radio and FOX News Channel (TV).  His syndicated radio show is carried on Long Island (where he also lives) by news/talk WRCN-FM, Riverhead “Long Island News Radio.” The station which serves Eastern Long Island is owned by JVC Broadcasting of which John Caracciolo is president/CEO. Harry Hurley, morning host at WPG, Atlantic City, NJ (and regular guest host on FOX News Radio who occasionally fills in for Kilmeade) will serve as moderator of what promises to be a fascinating three-way conversation. See all the speaker, registration, and hotel information for TALKERS 2023 here.