Tag: net loss

Industry News

Cumulus Media Second Quarter Net Revenue Falls 11%

By TALKERS | by TALKERS

Cumulus Media Inc is the first radio company to report its financial results for the second quarter of 2023 and post Q2 net revenue of $210.1 million, a decrease of 11.2% over the same period in 2022. The company also posts a net loss of $1.1 million for the quarter, compared to the $8.6 million in net earnings it reported for Q2 of 2022. Breaking down the company’s revenue by segment, digital is the only segment that didn’t report a double-digit decline ($37.5 million, down 0.7%). Spot revenue was $107.1 million (down 15.7%) and network revenue was $39.7 million (down 18.5%). Cumulus notes that its total debt as of June 30, 2023 was $680.9 million.im Cumulus president and CEO Mary Berner comments, “Despite continued challenges in the overall market, our second quarter revenue performed in-line with expectations while Adjusted EBITDA exceeded them. As in prior quarters, we generated strong revenue growth in our digital marketing services business, implemented meaningful cost reductions, and further improved our balance sheet by generating cash from operations and reducing our total and net debt to the lowest levels in more than a decade. Additionally, we executed a highly accretive and opportunistic tender offer, which resulted in the retirement of approximately 10% of our shares outstanding. Our proven track record of strong operational and financial execution in adverse conditions gives us unwavering confidence in our ability to optimize results in the current weak ad market and rebound strongly when the environment improves. In the meantime, we will continue to invest in our digital businesses, further enhance our operating leverage through additional cost reductions, and execute on our strategy to opportunistically deploy capital to maximize long-term shareholder value.”

Industry News

Audacy First Quarter Revenue Falls 5.7%

By TALKERS | by TALKERS

The company reports net revenue for the first quarter of 2023 was $259.6 million, a decrease of 5.7% over Q1 of 2022. Audacy reports that total operating expenses increased 1.9% and it is reporting an operating loss of $12.2 million compared to the operating income of $8.5 million it reported in the first quarter of 2022. Theim company posts a Q1 2023 net loss of $35.9 million, an increase of 225% compared to Q1 of 2022. Audacy chairman, president and CEO David J. Field states, “First quarter revenues were down 5.7% with local sales significantly outperforming national as challenging ad market conditions persisted. Cash operating expenses were up 3% during the quarter but are expected to be below prior-year levels for the remainder of 2023. Notwithstanding the difficult economic headwinds, we remain steadfastly focused on delivering significantly higher future levels of Adjusted EBITDA, capitalizing on our multiple growth drivers and our differentiated premium competitive position in the dynamic audio market. We are making progress on each of our drivers, including our podcasting and digital marketing solutions businesses, our reinvented streaming audio platform, our emerging ad tech and ad products, and our enhanced national enterprise business development efforts. In addition, we are encouraged to see some positive signs in our auto business as we continue our vigorous work to weather the storm and await future improvements in market conditions.”

Industry News

Salem Media Group First Quarter Revenue Up 1.4%

By TALKERS | by TALKERS

Salem Media Group reports its operating results for the first quarter of 2023 and reveals consolidated revenue was $63.5 million, an increase of 1.4% over the first quarter of 2022. The company’s total operating expensesim increased 17.4% to $67.7 million leading to an operating loss of $4.2 million as compared to operating income of $5 million posted in Q1 of 2022. Salem reports a net loss of $5.2 million, compared to Q1 2022’s net income of $1.7 million. Salem reports in three segments – Broadcast, Digital Media, and Publishing. Broadcast revenue for the quarter was $48.3 million (down 0.2%), Digital Media was $10.5 million (up 2%), and Publishing revenue was $4.6 million (up 19.7%). Looking ahead, the company is projecting total revenue to decline between 5% and 7% from the second quarter 2022 total revenue of $68.7 million and expects operating expenses to increase between 3% and 6% compared to Q2 of 2022.

Industry News

iHeartMedia First Quarter Revenue Declines 3.8%

By TALKERS | by TALKERS

iHeartMedia Inc reports its operating results for the first quarter of 2023 and revenue for the period was $811.2 million, a decline of 3.8% over the same period in 2022. After reporting operating income of $12.3 million in Q1 of 2022, the company posts an operating loss of $48.8 million. Also, iHeartMedia’s net loss increased from $48.7 million in the first quarter of 2022 to $222.4 million in Q1 of this year. The company’s Digital Audio Groupim segment’s total revenue was $223.4 million, up 4% over the same period in 2022. The company’s Multiplatform Group reports total revenue of $529 million (a decline of 7%) and that segment breaks down as follows: Broadcast Radio revenue was $383.2 million (down 7.7% from Q1 2022) and Networks reports revenue of $107.9 million (down 8.2% from Q1 of 2022).  Chairman and CEO Bob Pittman comments, “We are pleased to report that our first quarter 2023 results were a bit above the high end of our Adjusted EBITDA and Revenue guidance ranges – and that more importantly, while both the macroeconomic climate and the advertising marketplace remain uncertain, the audio and digital advertising markets appeared to be stronger in the quarter than we had initially anticipated. We expect that our second quarter Adjusted EBITDA, while below 2022 levels, will be approximately double what we generated in the first quarter, and this, in combination with our Q1 first quarter performance relative to guidance, gives us confidence that our Adjusted EBITDA results will continue to improve throughout 2023, and that we will be well positioned to build further in 2024 in terms of revenue growth, profitability, and Free Cash Flow generation.”

Industry News

Cumulus Media Q1 Net Revenue Down 11%

By TALKERS | by TALKERS

Cumulus Media’s net revenue for the first quarter of 2023 was $205.6 million, a decline of 11% over the same period in 2022. The company’s net loss ballooned to $21.4 million from the net loss of $905,000 it reported in Q1 of 2022. Breaking down Cumulus’ revenue by segment, total broadcast revenue was $148 million – down 12.5% year-over-year – led by network revenue (-22.9%), and followed by spot revenue (down 6%). Digital revenue was $32 million, up just 0.6% over the first quarter of 2022. Cumulus Media president and CEO Mary G. Berner comments, “Extending our track record of strong operational and financial execution duringim challenging times, in the first quarter, we grew our digital marketing services revenue by more than 23%, completed the sale of WFAS-FM, continued to repurchase shares and retire debt at a discount, and have now executed $10 million of additional annualized cost reductions. That said, the impact of the considerable macro-driven weakness in the national advertising market, as well as the unfavorable prior year political and WynnBET comparisons, ultimately resulted in total revenue and Adjusted EBITDA declines. Though the difficult national market trends persist, we have confidence in our ability to successfully navigate adverse environments such as this one. Specifically, since 2019 through the COVID-impacted years, we have had best-in-class performance in terms of fixed cost reduction, Adjusted EBITDA margin recovery, Adjusted EBITDA to free cash flow conversion and net debt reduction. With our current liquidity profile and solid balance sheet, we believe that we are not only well-positioned to weather the current storm but will rebound strongly when the market eventually recovers.”

Industry News

Beasley’s 2023 First Quarter Net Revenue Rises 3.7%

By TALKERS | by TALKERS

Reporting its operating results for the first quarter of 2023, Beasley Broadcast Group (parent of Beasley Media Group) announces net revenue of $57.8 million, an increase of 3.7% over the same period in 2022 that the company says reflects “a year-over-year increase in digital revenue, local spot revenue and network revenue, partially offset by a decrease in national spot revenue, related to continued softness in the national agency business.” Beasley reports operating income of $400,000 in Q1 of 2023, compared to the operating loss of $2.7 million reported in Q1 of 2022. The company also reports a reduced net loss of $3.5 millionim compared to the net loss of $3.7 million in Q1 of 2022. Beasley CEO Caroline Beasley states, “Beasley’s strong first quarter financial operating results highlight our continued local audio leadership and the ongoing success of our digital transformation and revenue diversification initiatives which are driving top-line and SOI (station operating income) growth. Despite ongoing challenges related to the economy and softness in the national spot market, Beasley generated healthy growth across its digital, local audio, and network revenue sources, as reflected by the 3.7% increase in first quarter net revenues to $57.8 million. Top-imline growth was the primary factor contributing to an impressive 21% year-over-year increase in SOI to $7.1 million. Our digital strategy delivered first quarter digital revenue growth of 27.8% year-over-year and accounted for 17.3% of total first quarter revenue. Similar to recent quarters, strong digital revenue performance was driven by Beasley’s organic content creation initiatives and the roll-out of our tailored web services. Beasley continues to see accelerating demand from consumers for our innovative digital content, with our unique digital users more than doubling over the prior year quarter, resulting in a more than 90% year-over-year increase in sellable digital impressions. We believe we remain on path for this revenue source to reach 20% of total revenue by 2023 year-end.” Total outstanding debt as of March 31, 2023 was $290 million, and first quarter interest expense slightly declined to $6.6 million. Beasley had $35.9 million of cash and cash equivalents on hand at quarter end. We intend to keep our cash on the balance sheet in order to maintain our strong liquidity position, while we monitor the economic environment.”

Uncategorized

iHeartMedia Q4 2022 Net Revenue Rises 6%; Full Year Up 10%

By Editor | by Editor

iHeartMedia reveals operating results from the fourth quarter of 2022 and for the full year of 2022. The company says net revenue for Q4 was $1.12 billion, an increase of 6% over the same period in 2021, and full year net revenue for 2022 was $3.9 billion, up 10% over the previous year. The company reports net income of $80.6 million for Q4 of 2022 and a net loss of $262 million for the full year. iHeartMedia breaks its results intoiHeart - Logo three segments. The Multiplatform Group (including broadcast stations, networks and sponsorships & events) reports Q4 revenue of $732 million – a 0.9% increase over Q4 2021. Broadcast revenue grew $3 million, while Networks declined $5.5 million (4.1%). Revenue from Sponsorship and Events increased by $8.1 million (12.1%). The Digital Audio Group reports revenue of $301 million in Q4 of 2022 – up 10.2% Robert Pittman - MTVover Q4 of ’21. Podcast revenue increased by $16.4 million (16.9%). The Audio & Media Services Group reports Q4 2022 revenue of $94.5 million – an increase of 44.3% over the same period in 2021. iHeartMedia chairman and CEO Bob Pittman says, “We are pleased to report another quarter of solid operating results for iHeart in consumer usage, revenue, and earnings growth. The fourth quarter was our best quarter for Revenue and Adjusted EBITDA – and on a full-year basis, in 2022 we generated the highest revenue and the second highest Adjusted EBITDA and Free Cash Flow year in iHeart’s history. Even in this continuing challenging and uncertain economic environment, we continue to make strong progress in our transformation of iHeart into a true multiplatform audio company – driven by innovation, supported by data and technology, and powered by the largest sales force in audio – and we are positioning iHeart to take advantage of the coming economic recovery.”

Industry News

Beasley Reports Q4 2022 Revenue Up 1.8%

By TALKERS | by TALKERS

Beasley Broadcasting Group issues operating results for the fourth quarter of 2022 and for the full year. Net revenue during the three months ended December 31, 2022 increased 1.8% to $72 million, primarily reflecting a year-over-year increase in digital revenue, political revenue and other revenue, partially offset by a slight decrease in audio revenue related to softness in the national agency business. For the full year of 2022, Beasley reports net revenue of $256.4 million, an increase of 6.2% over 2021. The company also reports a net loss of $25.8 million in Q4 of 2022, compared to a net income of $10.6 million in Q4 of 2021. Beasley says,Beasley Media Group - Design “Operating loss, net loss and net loss per diluted share for the three months ended December 31, 2022 include $44.2 million of non-cash impairment losses related to FCC licenses, goodwill and franchise rights. Operating loss, net loss and net loss per diluted share for the 12 months ended December 31, 2022 include $54.7 million of non-cash impairment losses related to FCC licenses, goodwill and franchise rights.” Beasley CEO Caroline Beasley comments, “Beasley’s 2022 fourth quarter and full-year financial results reflect the ongoing success of our digital transformation and revenue diversification strategies, which drove year-over-year increases in revenue and SOI for both the three- and 12-month periods. Throughout the year, Beasley largely offset ongoing challenges related to the economy and softness in the national spot market, as we generated healthy growth across all of our digital, local audio, political and other revenue sources, as reflected by the 6.2% increase in full year net revenues to $256 million. This top-line growth was Caroline Beasley - Beasley Media Groupthe primary factor contributing to a 2.8% year-over-year increase in full year SOI to $43.1 million. While economic uncertainty remains, Beasley initiated several actions throughout the year that we believe will strengthen the long-term position of our business. First, our digital strategy continues to deliver strong results with fourth quarter digital revenue growth of 13.2% year-over-year, representing nearly 17% of total fourth quarter revenue. Digital revenue has consistently outpaced national spot advertising revenue over the past several quarters due to a combination of organic growth and contributions from the second quarter acquisition of our white label digital agency business, Guarantee Digital. With accelerating demand from consumers and advertisers for our local content and multi-platform marketing solutions, we are solidly on the path for this revenue source to reach 20% of total revenue. Second, we remain focused on monetizing our premium audio and digital content through new local business development, revenue diversification and maximizing political revenue opportunities. As a result, in the fourth quarter, we delivered $5.1 million in net political revenue, with stronger than expected gains in Las Vegas, Philadelphia, and Detroit, as well as year-over-year total revenue increases across nearly all of our markets and in our esports business. Our radio brands remain dominant in Nielsen Audio ratings, where Beasley currently has the highest average cluster share when compared to the major radio broadcasters in PPM. Finally, we implemented a cost reduction program in the second half of 2022, with the majority of cost cuts occurring in October.”

Industry News

LiveOne Reports Operating Results; Files to Spin-Out PodcastOne

By TALKERS | by TALKERS

LiveOne – parent company of audio services PodcastOne and Slacker – reports operating results for its third quarter of Fiscal 2023 and the first nine months of Fiscal 2023. At the same time, it announces that it is following through with its plan to spin-out PodcastOne into a separate company by filing an S-1 with theLogo - Font Securities Exchange Commission. For the company as a whole, LiveOne reports Q3 Fiscal 2023 revenue of $27.3 million – a decrease of 17% from the same period in Fiscal 2022. However, the company has reduced its net loss for the quarter from $11.8 million in Fiscal 2022 to $3.2 million. Its Audio Division that includes PodcastOne and Slacker produced record revenue of $22 million in Q3 Fiscal 2023 compared to $19.1 million in the same period in the Logo - Fontprior year. LiveOne’s CEO and chairman Robert Ellin comments, “Over the past year, we have been laser focused on optimizing and streamlining our operations, led by our audio business, which includes Slacker Radio and PodcastOne. The combination of improving Contribution Margins, coupled with over $30 million in annual expense and overhead reduction, is resulting in record operating results. We are excited about the continued strong growth of paid memberships coming largely through B-to-B partnerships, including our nine-year relationship with Tesla. We expect our strong operating performance to continue for the foreseeable future led by our Audio Division and for it to collectively achieve revenue in excess of $88 million in Fiscal 2023 and generate more than $18 million in Adjusted EBITDA.”

Front Page News Industry News

Friday, November 11, 2022

By Editor | by Editor

NOW POSTED: This Weekend’s Installment (Series Finale) of “The Michael Harrison Wrap: An Overview of the National Conversation.” The latest installment and series finale of the one-hour weekend special, “The Michael Harrison Wrap,” that has looked back each week for the past three-and-a-half years at the hottest topics discussed in the American talk media per the research of TALKERS, is now posted. This new episode titled, “A House Divided,” reviews this past week of 11/7-11. The program features guests (in order of appearance): Kevin Casey, executive editor, TALKERS; Dr. Murray Sabrin, professor emeritus of finance, Ramapo College, NJ; Harry Hurley, talk show host, WPG, Atlantic City, NJ; Victoria Jones, executive director, DC Radio Company; and Matthew B. Harrison, Esq., associate publisher, TALKERS/law professor, Springfield, MA. The show has been airing weekends (Friday evenings to Sunday nights) on 100-plus broadcast signals and networks across the U.S. and U.K as well as having developed a significant international following as a podcast. To listen to this week’s milestone episode, please click here. To view the latest TALKERS topic research, please click here.

LiveOne Reports Revenue for 2023 Fiscal Q2 Up 7.3%. Reporting its financial data for the second quarter of Fiscal 2023, LiveOne says consolidated revenue was $23.5 million – an increase of 7.3% over the same period in 2022 Fiscal Q2. LiveOne is the parent company of PodcastOne and the filing reveals that PodcastOne “posted record 1H Fiscal 2023 revenue of $17.2 million as U.S. unique monthly audience surpassed 6.7 million in September 2022.” LiveOne is planning to spin out PodcastOne as a separate, publicly traded company and expects to file an S-1 with the SEC by December 15. Returning to the company’s consolidated financial data, LiveOne posted a net loss of $3.4 million, a dramatic reduction from the net loss of $15.2 million it reported for second quarter of Fiscal 2022. LiveOne CEO and chairman Robert Ellin comments, “The momentum in LiveOne’s audio business, which includes Slacker Radio and PodcastOne, continues to experience growth of paid members through partnerships, including Tesla, as well as an increase in advertising and sponsorships. We expect our audio business to collectively achieve revenue in excess of $80 million in Fiscal 2023 and generate more than $16 million in Adjusted EBITDA. Over the past year, we have successfully reduced costs and overhead by an expected $25 million on an annual basis while focusing on the operating performance of our audio division. A significant part of our strategy is a decision to forgo any live tentpole and pay-per-view events until Fiscal 2024, which has resulted in a lowering of expected Fiscal 2023 revenue to between $100 million and $110 million. These measures will allow us to utilize our capital and resources to strengthen our balance sheet, buyback stock and focus on the growth of our profitable businesses.”

Christian Arcand Returns to WEEI, Boston to Produce PM Drive Show. Sports talk radio pro Christian Arcand – who was a casualty of the recent cuts at Beasley Media Group and served as an air personality at WBZ-FM, Boston “98.5 The Sports Hub” – joins Audacy’s WEEI-FM, Boston as producer of the “Merloni, Fauria & Mego” show and as host of the Saturday 1:00 pm to 4:00 pm program. Arcand originally served with WEEI first as co-host on the “Planet Mikey” show with Mike Adams and then hosted the “WEEI Late Night” program before joining WBZ-FM five years ago. Audacy Boston SVP and market manager Mike Thomas says, “Christian is a talented guy and a great team player. A lot of people in the building, including myself, have had the pleasure of working with him in the past. What he will bring to ‘Merloni, Fauria and Mego’ on and off the air will really help propel the show and the station forward.”

Clay Travis and Buck Sexton Host Election Event. Pictured above at Tuesday night’s midterm election night event in Nashville are Premiere Networks-syndicated personalities Clay Travis (right) and Buck Sexton (left) – hosts of “The Clay Travis & Buck Sexton Show” with U.S. Senator Marsha Blackburn (R-TN). Travis and Sexton hosted the event for key advertisers, political guests and others. Among the special guests who attended the private event to watch the election results were: Premiere Networks-syndicated personality Jesse Kelly, Sen. Bill Hagerty, Tennessee Attorney General Jonathan Skrmetti, FOX News commentator and Outkick The Coverage host Tomi Lahren, country music star John Rich, former NFL quarterback Jay Cutler, among others.

Hillsdale College Produces Election Night Coverage. In the photo above, student broadcasters at Hillsdale College’s radio station WRFH-LPFM, Hillsdale, Michigan “Radio Free Hillsdale 101.7 FM” present their live election night coverage on the station with a remote broadcast. The school says that more than 20 staffers were involved in some way during the evening, as they welcomed panels of fellow students, Hillsdale professors, candidates, reporters, and pundits to the airwaves. The event was open to the campus community and more than 200 people turned out to watch and listen.

KDWN, Las Vegas Hosts Election Night Special. In the Las Vegas market, KDWN talk host Steve Sanchez (right) presented election night coverage on the station that included contributions from GCN nationally syndicated talk host Dr. Daliah Wachs (center) and “Finding Common Ground” host Patrick Casale (left).

New York Festivals Welcomes Diego Cannizzaro to Radio Awards Advisory Board. The New York Festivals announces that DMC Studio owner Diego Cannizzaro is joining the NYF Radio Awards Advisory Board. New York Festivals Radio Awards vice president Rose Anderson says, “The 14-member Advisory Board panel is an international brain trust of innovative storytellers and industry executives whose expertise spans all genres of audio entertainment and journalism. Diego’s mastery of every aspect of his craft in works like ‘Madre’ and ‘Weightless’ brings emotions, memories, and sensations to his listening audiences. These insights and the Board’s essential guidance ensure that New York Festivals will continue to honor world-wide excellence across all platforms.” Cannizzaro’s DMC Studio is located in Buenos Aires and specializes in radio arts, sound stories, commercials, field recording, sound design and mixing. He is an industry pro known for award-winning work. He creates audiovisual productions for radio, TV, social networks, and movies. He comments, “I consider New York Festivals as an iconic common place, in a global level speaking. A meeting point for all who are really involved in storytelling in the media. Personally, it is an honor to be part of the Advisory Board with outstanding colleagues from all the media worldwide.”

NOT TOO LATE! Comrex Offers Talk Broadcasters Free Trial of Gagl Remote Contribution Service for Post-Election Programming. High-quality, remote contribution is a vital part of any live broadcast – and that’s especially true during election season. Comrex has provided talk radio hosts, reporters and sportscasters with great remote broadcasting tools for decades. Their Comrex ACCESS units have become a ubiquitous presence at political conventions, breaking news stories and anywhere broadcast-worthy things are happening. While Tuesday’s elections are in the rear-view mirror, post-election contribution to your station’s coverage of local and national races is still going strong and will for the foreseeable future. Those contributors need to be able to connect from remote locations at the drop of a hat. Often, reporters and contributors will call in from their remote locations on a mobile phone, which is a simple solution, but results in poor audio quality. Other reporters will have access to a remote audio codec, which provides excellent audio quality, but also requires some management from the engineering team. Gagl, the new remote contribution solution from Comrex, is the best of both worlds. According to the folks at Comrex, reporters and contributors can connect to the Gagl interface from a web browser on a smartphone or laptop, meaning it’s as easy as a phone call to get connected. Up to five reporters can be in a Gagl session at the same time. The Gagl session is connected to a Comrex IP audio codec in the studio, and so on-air hosts are able to talk with field reporters. Each reporter has their own mix-minus, and their audio is studio quality with very low delay, so quality isn’t sacrificed for simplicity. Gagl is a subscription-based service and it’s a first for Comrex. “It’s kind of a pivot for us,” Comrex director of sales, Chris Crump tells TALKERS. “Broadcasters are looking for easier, faster and less expensive ways to do their job. But quality and reliability are just as important,” says Crump. “Gagl uses a web browser on a smartphone or computer. It’s as easy as clicking a link to connect. But it connects to a Comrex IP Audio Codec back in the studio for reliability and greater stability. It sounds great and is designed to be dependable as Comrex customers would expect.” Anyone with an ACCESS or BRIC-Link codec can try Gagl free for two weeks by contacting Chris Crump at Comrex Corporation: chris@comrex.com. Office phone: 978-784-1776. Mobil phone. 404-610-5954. comrex.com

Politics and Midterm Elections Top News/Talk Story for Week of November 7 – 11, 2022. The politics surrounding the 2022 midterm elections and the races that will determine control of Congress for the next two years combined as the most-talked-about story on news/talk radio this week, landing atop the Talkers TenTM. At #2 this week was former President Donald Trump’s position as a Republican kingmaker and his expected announcement he’ll run for president in 2024, followed by inflation and fears of a recession at #3. The Takers TenTM is a weekly chart of the top stories and people discussed on news/talk radio during the week and is the result of ongoing research from TALKERS magazine. It is published every Friday at Talkers.com. See this week’s complete chart here.

 

 

KWAM, Memphis Seeks News/Talk Morning Host. Memphis news/talk outlet KWAM-AM “The Mighty 990” is looking for the next great talk show host in America. We have an immediate opening for a morning show host. Our host must have at least three years experience and must be well-versed on national, Tennessee and Memphis news. Send resumes and audio clips to todd@starnesmediagroup.com.

Front Page News Industry News

Tuesday, November 8, 2022

By Editor | by Editor

Audacy Third Quarter Net Revenue Falls 4%. The company reports Q3 net revenue of $317 million – a decline of 4% over the same period in 2021. Additionally, Audacy reports an operating loss of $151.9 million compared to operating income of $29.3 million in Q3 of 2021. The company reports a net loss of $141 million for the third quarter of 2022 compared to the net loss of $4.76 million it reported during the third quarter of 2021. Breaking down Audacy’s revenue by segment, it reports local and national spot business was $205 million, a decline of 7.2% over the same period in 2021. Digital revenue (including podcasting) was $62.7 million, an increase of 2.1% over Q3 of 2021. Network revenue was $23.7 million, up 0.9% over the third quarter of 2021. Audacy chairman, president & CEO David J. Field comments, “Our third quarter revenues declined 3.8% as advertising headwinds impacted company performance. Solid double-digit growth in streaming audio and digital marketing solutions were offset by declining radio revenues. Our radio revenues were negatively impacted by our concentration in the country’s largest markets as small to medium market radio outperformed large market radio by 8% during the quarter. We remain deeply focused on executing our action plan to navigate the storm and emerge healthy and strong. We completed the sale of $56 million in real estate to enhance our financial position with additional sales in the pipeline. We launched the next generation of our Audacy streaming platform with innovative features including segment chaptering of live spoken-word radio shows. Since launch, digital listeners are up 25% while registrations have increased 15% and we have high expectations for the impact of the new platform on our future growth. We also continue to make progress on core strategic growth drivers such as national enterprise business development and our ad tech product roadmap to open important pools of demand and accelerate future performance. Looking beyond the challenging current macro environment, Audacy has been transformed into a leading, scaled multi-platform audio content and entertainment company, better able to serve listeners and customers than ever before. We are excited by the opportunities ahead and are deeply focused on continuing to best position the company to compete for significant growth in the dynamic audio market.”

Audio Pros Gather at FOX News for Reception. Pictured above are (from l-r) “FOX Across America” host Jimmy Failla, Westwood One SVP, head of operations Tim Seymour, FOX News Audio account manager, affiliate sales & marketing Tamara Karcev, and TuneIn chief content officer Kevin Straley at FOX News headquarters in New York as FOX hosted the reception to showcase its collection of radio and podcast offerings with media pros in town for the NAB Show New York last week. FOX News Audio vice president John Sylvester along with hosts Brian Kilmeade, Guy Benson, and Jimmy Failla spoke during the cocktail reception.

Talk Host Austin Petersen Joins Missouri’s ‘Real Talk’ Network. Former KWON, Jefferson City, Missouri morning drive talk host Austin Petersen – a former Libertarian candidate for president and U.S. Senate – joins Ellis Broadcasting & Media LLC’s “Real Talk” format as host of the 2:00 pm to 3:00 pm show. The programming airs on a
number of Missouri radio stations including: KXEN-AM, St. Louis; KRTK-FM, Hermann; KVMO-FM, Vandalia; and KRTE-FM, Steelville. Petersen says, “I can’t wait to take on this new challenge and get the chance to talk about the big issues with the good people in the St. Louis region. It’s a huge opportunity and I couldn’t be more grateful. You can expect hard-hitting interviews, freedom rants, and plenty of jokes and fun. I love gold, guns, freedom and my smokin’-hot, redheaded wife. We’ll look at the issues from all angles. We’ll think outside the box, avoid groupthink, and declare our independence from the tyranny of big government. Most of all, we’ll make freedom fighting fun again!” The network is owned and operated by the husband and wife team of Rick and Tracy Ellis. Tracy Ellis says, “When Rick and I started the ‘Real Talk Radio Network’ it was always important to us to make sure our listeners were kept up to date not only on local news and politics, but throughout the state of Missouri. We have followed Austin Petersen for some time and with his home base in Jefferson City, we felt he was the perfect fit to the puzzle at ‘Real Talk.’ Many local politicians came to us directly and spoke highly of Austin and how much they enjoyed being on his former show and would love to hear him on our stations.”

TALKERS News Notes. Announcing its coverage of the midterm elections, SiriusXM says it is presenting programming on its original political channels – Patriot, P.O.T.U.S. and Progress – with team coverage that extends from its regular daytime schedule into new live primetime and overnight programming. Additionally, on SiriusXM Triumph, starting at 9:00 pm ET Megyn Kelly will host a special live, commercial-free edition of her program on which she’ll share her perspective and analysis of election results as they come in, and will speak with leading experts and political observers. The Urban View channel, which focuses on issues affecting the African-American community, will also be live with special programming from 8:00 pm – 12:00 am ET…..PodcastOne is partnering with original “Friday Night Lights” cast members Zach Gilford, Scott Porter and self-proclaimed “Friday Night Lights” superfan Mae Whitman for an exclusive podcast and vodcast, “It’s Not Only Football: Friday Night Lights and Beyond” that debuts on Thursday (11/10). Each week, the trio will break down an episode of “Friday Night Lights,” giving listeners and viewers exclusive, behind-the-scenes stories and the latest going on in their lives. Episodes will feature guests that range from fellow cast members to close friends and colleagues…..Virtual News Center adds Flagler Broadcasting’s WBHU, St. Augustine Beach, Florida to its growing list of affiliate radio stations. Virtual News Center will provide local newscasts anchored by Amy Cherry with daily reporting from Rich Petschke.

Midterm Elections/Trump in 2024, The Economy, Elon Musk & Twitter, Russia-Ukraine War, January 6, Powerball Delay, and Subtropical Storm Nicole Among Top News/Talk Stories Yesterday (11/7). Today’s midterm elections that will determine control of the House and Senate for the next two years and former President Donald Trump’s teasing his bid for the White House in 2024; inflation and fears of a recession; the uncertain state of Twitter in Elon Musk’s second week as owner of the social media platform; Ukrainians and Europeans brace for a long, cold winter as Vladimir Putin continues his war; the Oath Keepers on trial for seditious conspiracy related to the January 6 Capitol attack; the record $1.8 billion Powerball jackpot drawing is delayed due to “security protocol issue”; and the development of subtropical storm Nicole were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.

Front Page News Industry News

Monday, November 7, 2022

By Editor | by Editor

Beasley Broadcast Group Q3 Net Revenue Rises 1.5%. Financial data from Beasley Broadcast Group’s third quarter of 2022 reveals net revenue of $63.8 million – an increase of 1.5% over the same period in 2021. The company reports operating income of $4.7 million in the third quarter of 2022 compared to $4.9 million in the third quarter of 2021. It says this slight decrease was driven by a $1.2 million increase in corporate expenses related to investments in its digital business as well as severance expense, partially offset by a year-over-year increase in Station Operating Income (SOI, a non-GAAP financial measure). Beasley reports net income of $500,000 compared to the net loss of $1.6 million it reported during the same period a year ago. Station operating income increased by 5.1% to $12.3 million in the third quarter of 2022, up from $11.7 million in the third quarter of 2021. The company says the increase is primarily attributable to higher net revenue, which more than offset higher operating expenses. Chief executive officer Caroline Beasley says, “Beasley delivered another strong period of operating and financial performance, reflecting the ongoing success of our digital transformation and revenue diversification strategies. Top-line growth was the primary factor contributing to a 5.1% year-over-year increase in SOI to $12.3 million and was driven by continued strength in local audio advertising and impressive growth in our digital business. Regarding the economic environment, like many companies, we are managing through some challenging market conditions with a focus on what we can control. We continue to experience increased volatility in national spot advertising, which accounted for approximately 15% of our third quarter net revenues. The ongoing strength of our digital and local audio advertising revenues is helping us to partially offset these declines. We are also taking actions on the expense side, and have implemented approximately $10 million in expense reductions, of which roughly half were from a reduction to headcount. Digital remains a key component of our revenue diversification strategy. Digital revenue increased 23.1% year-over-year representing 16% of total third quarter revenues, while our digital margin improved. Our digital performance benefitted from a first full quarter contribution from the white label digital agency we acquired in late June, which we believe will continue to accelerate our digital revenue growth and provide meaningful synergies with our growing digital platform. In both the second and third quarters, digital revenue accounted for a larger share of our revenue than national advertising, and we expect this revenue source to continue offsetting national spot weakness in the coming quarters. Total outstanding debt as of September 30, 2022 was $290 million. In summary, we believe these results demonstrate the strength and relevance of our industry-leading audio and digital content, as well as our teams’ extraordinary efforts to serve our listeners, customers and communities through challenging circumstances. And while we cannot control how the economic situation evolves in the coming months, we have already taken decisive steps to mitigate the impact of near-term headwinds and drive continued progress against our long-term growth strategy. Looking ahead, we will continue to focus on maximizing our growth opportunities, managing our expenses and capital structure, serving our audiences and advertisers and delivering results for our stockholders.”

Monday Memo: Your Podcast ‘Bones.’ Like your on-air work, your podcast is a show. And consultant Holland Cooke figures that “as a professional broadcaster, you enter the on-demand audio arena advantaged over others…BUT…” In this week’s column, HC cautions that – given the way podcasts are consumed – your format is critical. Read it here.

 

Greg Renoe Promoted to Market Manager for Cumulus Columbia/Jefferson City. The company promotes Greg Renoe from his general sales manager position with the Columbia and Jefferson City, Missouri clusters to vice president and market manager. The station groups consist of news/talk KFRU, Columbia and news/talk KLIK, Jefferson City plus five music brands. Cumulus Media SVP of operations Mark Sullivan says, “Greg’s long-standing relationships with our staff, key advertisers, and civic leaders, together with his deep knowledge of the market and effectiveness as a leader, have earned him this promotion. I look forward to his continued success with our organization in Middle Missouri.” Renoe adds, “I’m excited to have the opportunity to lead the Cumulus team here in Middle Missouri. I’m looking forward to the challenges ahead and sharing in many successes with my co-workers. There is no end to what we can accomplish together with our collective vision for these incredible assets.”

iHeartMedia Names Doug Hall Digital PD for LA and SF. Digital media pro Doug Hall is named regional digital program director for iHeartMedia’s Los Angeles and San Francisco clusters. Hall has been serving with the national iHeartRadio team as a senior digital director out of the Nashville headquarters. In this new role, Hall will be responsible for the strategy, audience growth, and maximizing iHeartMedia’s digital platforms in these markets. Hall will report to John Peake, SVP of programming for iHeartMedia Los Angeles. Peake says, “Our iconic Los Angeles audio brands and on-air talent are the engines that are driving unprecedented digital growth. I’ve watched Doug grow and evolve from his time in promotions to leading winning teams in San Francisco, Miami and Nashville. We are fortunate to have him leading our LA digital efforts and rejoining the team in San Francisco.” Hall comments, “I’m excited for this full circle moment, coming back to Los Angeles, where it all started. I can’t wait to dive in and help both our Los Angeles and San Francisco markets continue to grow and innovate in the digital space.”

Megan Marcus Returns to Paramount as VP of Podcast Editorial. Producer and journalist Megan Marcus is named vice president of podcast editorial at Paramount where she will oversee content for CBS News’ slate of podcasts. In this new role, Marcus will oversee the full creative slate for CBS News podcasts in addition to working on editorial across all Paramount global podcasts. This marks a return to CBS News for Marcus, who produced the first two seasons of Mo Rocca’s award-winning podcast “MOBITUARIES” and also worked closely with the CBS News team. Paramount EVP of podcasting and audio Steve Raizes says, “Megan is a dynamic producer and leader in the podcasting field. She did an incredible job guiding ‘MOBITUARIES’ to the top of the podcast charts and is already at work on our current and future slate of CBS News Audio properties.”

Broadcasters Foundation of America Launches Year-End Giving Campaign. The Broadcasters Foundation of America is launching its annual year-end giving campaign. The appeal asks for tax-deductible donations to provide financial assistance to people in broadcasting whose lives have been shattered by debilitating illness, accident, or catastrophe. BFoA president Tim McCarthy says, “Our grantees are your colleagues. They are hard-working men and women who through no fault of their own need our help. Requests for aid continue to increase every year. We cannot turn our backs on those in our industry who need our help.” This year, the Broadcasters Foundation will award close to $2 million in monthly and one-time emergency grants. Since 2017, monthly grants have increased 70% and more than 600 emergency grants have been awarded. Over the past 20 years, the Broadcasters Foundation has distributed more than $15 million to broadcasters in need. Broadcasters Foundation board of directors chairman Scott Herman adds, “Disaster often strikes without notice and extreme circumstances can deplete a life’s savings quickly. We need everyone in radio and TV to spread the word about the Foundation’s charitable mission across their station and company, in case they or someone they know needs our help.” More information, including how to make a personal or corporate donation or apply for aid is available at www.broadcastersfoundation.org, and by contacting the Foundation at 212-373-8250 or info@thebfoa.org.</p

Midterm Elections/Trump in 2024, The Economy, Russia-Ukraine War, Elon Musk & Twitter, Daylight Saving Time Controversy, Astros Win World Series, and Powerball Jackpot Among Top News/Talk Stories Over the Weekend. Tuesday’s midterm elections and the battle for control of the House and Senate, combined with expectations that Donald Trump will announce his bid for the 2024 Republican nomination shortly; inflation and concerns about a recession; Russia’s targeting of Ukraine’s infrastructure as the war grinds on; Elon Musk’s mercurial leadership tactics as owner of Twitter; the debate over Daylight Saving Time and whether to make it permanent in the U.S.; the Houston Astros beat the Philadelphia Phillies in the World Series; and the now $1.9 billion Powerball jackpot were some of the most-talked-about stories on news/talk radio over the weekend, according to ongoing research from TALKERS magazine.

Front Page News Industry News

Friday, November 4, 2022

By Editor | by Editor

NOW POSTED: This Weekend’s Installment of “The Michael Harrison Wrap: An Overview of the National Conversation.” The latest installment of the one-hour weekend special, “The Michael Harrison Wrap,” that looks back each week at the hottest topics discussed in American talk media per the research of TALKERS, is now posted. This new episode titled, “Trick or Tweet,” looks back at this past week of 10/31-11/4. The program features guests (in order of appearance): Kevin Casey, executive editor, TALKERS; Dr. Murray Sabrin, professor emeritus of finance, Ramapo College, NJ; Mark Davis, talk show host, 660 AM The Answer, Dallas/Fort Worth; Bobbie Winston a.k.a. La Femme Bobbie, musician/artist/American ex-pat, Rio de Janeiro; Renee Kohanski, M.D., forensic psychiatrist/podcaster, Somerset, NJ; Matthew B. Harrison, Esq., associate publisher, TALKERS/law professor, Springfield, MA. The show airs weekends (Friday evenings to Sunday nights) on 100-plus broadcast signals and networks across the U.S. and U.K as well as having developed a significant international following as a podcast. To listen to this week’s episode, please click here. To view the latest TALKERS topic research, please click here.

iHeartMedia Q3 Revenue Up 7%. Reporting its financial data for the third quarter of 2022, iHeartMedia says revenue was $989 million, an increase of 7% over the same quarter a year ago. The company is also posting an operating loss of $211 million for the third quarter of 2022 compared to the operating income of $80 million it reported for Q3 of 2021. Additionally, iHeartMedia reports a net loss of almost $310 million compared to the net income of $3.6 million it posted in the third quarter of 2021. iHeartMedia breaks its operations into three segments. Third quarter results for those segments are as follows: the Multiplatform Group that includes its radio stations and program networks was basically flat with a revenue increase of 0.1% “as a result of increased political advertising revenue as 2022 is a midterm election year, partially offset by a decrease in revenue due to a more challenging macroeconomic environment. Broadcast revenue grew $2.1 million, or 0.4% year-over-year, driven by higher political advertising revenue and an increase in trade and barter revenue, partially offset by lower spot revenue, while Networks declined $(0.7) million, or 0.5% year-over-year.” The Digital Audio Group was up 23.4% on revenue of $254 million. This group’s revenue increased by $48.2 million compared to the prior year, “including growth from Digital, excluding Podcast revenue, which grew $21.1 million to $162.7 million, driven by increased demand for digital advertising as well as Podcast revenue which increased by $27.1 million to $91.3 million, driven by higher revenues from the development of new podcasts as well as growth from existing podcasts. Digital Audio Group revenue increased as a result of general increased demand for digital advertising and the growing popularity of podcasting.” And the Audio & Media Services Group was up 17.7% on revenue of $77.8 million. Chairman and CEO Bob Pittman says, “We’re pleased to report another quarter of solid operating results for iHeart, and our performance in the midst of the current climate of economic uncertainty is a strong indication of the successful transformation this company has undergone in which our high-growth digital revenues comprises 26% of total company revenues. Our Digital Audio Group continues to deliver industry-leading growth, and our Multiplatform Group has again demonstrated its resiliency during a difficult economic environment. We believe the strong positions of both of these groups with both consumers and advertisers give us the ability to both navigate through this period of economic uncertainty and position us for continued growth through the recovery and beyond.”

Salem Media Group Total Revenue Rises 1.3%. The company reports that its total revenue for the third quarter of 2022 was $66.9 million, an increase of 1.3% over the same period in 2021. Salem Media Group also reports an operating loss of $8.8 million compared to operating income of $15.8 million in Q3 of 2021, and a net loss of $11.9 million compared to the net income of $22.1 million is reported during the same period in 2021. Salem presents its financial data in three segments. The Broadcast segment reports revenue of $51.1 million, an increase of 3.1% over Q3 of 2021, Digital Media revenue was $10.2 million, down 4.3% from the third quarter of 2021, and Publishing revenue was $5.5 million, a decrease of 3.7% from the same period a year ago.

Round Four of October PPMs Released. The fourth and final round of ratings data from Nielsen Audio’s October 2022 PPM survey has been released for 12 markets including Austin, Raleigh, Indianapolis, Milwaukee, Nashville, Providence, Norfolk, Jacksonville, West Palm Beach, Greensboro, Memphis, and Hartford. Nielsen’s October 2022 sweep covered September 15 – October 12. Today, TALKERS magazine managing editor Mike Kinosian presents his Ratings Takeaways from this group of markets. In the Raleigh market, iHeartMedia’s news/talk WTKK-FM tacks on three-tenths to wrap the survey with a 9.1 share that puts it in the #1 spot, while Curtis Media Group’s news/talk WPTF sheds one-tenth for a 1.8 share finish to remain ranked #15. The top dogs in Milwaukee flip as iHeartMedia’s news/talk WISN adds a full share for a 10.6 share finish that lifts it from #2 to #1, while Good Karma Brands’ WTMJ loses 1.9 shares for an 8.1 share finish that drops it from #1 to #4. Cumulus Media’s news/talk WPRO-AM/WEAN-FM, Providence adds on nine-tenths for wrap the survey with a 6.4 share that lifts it from #6 to #5. And in Jacksonville, Cox Media Group’s WOKV-FM is up one-tenth to a 7.9 share good for the #3 rank in the market. You can see Mike Kinosian’s complete Ratings Takeaways from this group of markets (as well as the previous three groups) here.

Comrex Unveils New BRIC-Link III Audio Codec. The company officially unveils BRIC-Link III – the newest addition to its popular BRIC-Link family of codecs. Comrex says there are more than 10,000 BRIC-Link codecs circulating world-wide, and BRIC-Link III is an updated version that takes advantage of the latest improvements in IP audio transmission technology. BRIC-Link III is a true codec, offering a full-duplex stereo encoder and decoder in each box. A jitter buffer manager is incorporated that automatically balances delay and stability, dynamically increasing and decreasing delay based on network performance. BRIC-link III offers a wide range of encoding algorithms including stereo and mono linear mode, FLAC modes, AAC/HE-AAC modes, Opus, G.722 and G.711. BRIC-Link III features a new, more powerful processor for improved reliability. It also features enhanced front panel indicators, including four buttons which will trigger contact closures by default and configurable for auto-connections to other Comrex IP audio codecs. BRIC-Link III is compatible with all other Comrex IP audio codecs, including the ACCESS codec line as well as older BRIC-Link models. BRIC-Link III also works with Gagl, a new service now available for purchase for audio contribution. Gagl turns any Comrex IP audio codec into a hub for up to five remote participants. Like other BRIC-Link codecs, BRIC-Link III includes CrossLock VPN technology, Comrex’s proprietary suite of reliability tools. In addition to bonding technology, CrossLock also includes a Redundancy Mode for mission-critical applications. BRIC-Link III can take advantage of HotSwap, meaning that users can set a 4G/5G modem as a backup connection to only be engaged when the primary internet fails, providing an extra layer of reliability. Customers can also choose to purchase an optional one-time license per codec to utilize SwitchBoard, a private server that Comrex maintains which allows for easy connections between IP codecs. You can get more information on this and other Comrex products here.

GAB Radio Talent Institute Returns to University of Georgia. The RAB’s National Radio Talent System announces the return of the GAB Radio Talent Institute at the Grady School of Journalism at the University of Georgia. The institute takes place in person May 15 – 24, 2023 thanks to sponsorship from The Georgia Association of Broadcasters. The talent incubator spans 10 days and is led by broadcast professionals that bring their real-world industry knowledge from around the state and country to educate students. RAB says that college students from universities throughout the state and region apply to be accepted into the GAB Radio Talent Institute. This provides an ideal networking pool for the students and a wide variety of potential interests within the classroom for industry professionals to identify and actively recruit from. Upon completion of the Institute, students can further their networking capabilities with the ability to access the National Radio Talent System’s Career Center. RAB president and CEO Erica Farber states, “We are delighted to have the GAB Radio Talent Institute make its return after a three-year hiatus due to the pandemic. Collaborating with Bob Houghton and the Georgia Association of Broadcasters enables us to bring this world-class program to life in the southeast and further develop the next generation of broadcasters.”

TALKERS News Notes. Inside Towers’ Leslie Stimson writes an interesting piece about the FCC’s creation of a Space Bureau. Stimson writes that FCC Chairwoman Jessica Rosenworcel announced the move at the Satellite Industry Association meeting yesterday (11/3). “She said the growth of satellite broadband internet plays a big part in why the agency is making the move. ‘Ninety-eight percent of all satellite launches in 2021 were deployed into low-earth orbit to provide internet connectivity back here on Earth. They can help advance the FCC’s goals to connect everyone, everywhere,’ Rosenworcel said. ‘More than that, the success of these low-earth orbit communications satellites could be seen as an early litmus test for the broader commercialization of space.’” Read Stimson’s entire piece here…..Three Hillsdale College students have won national College Broadcasters, Inc. awards for their work with “Radio Free Hillsdale 101.7 FM.” The awards were announced at the National Student Electronic Media Convention in Baltimore. Sophomore Lauren Smyth placed first in Best Newscast or Sportscast category for “Lauren Smyth News,” senior Josh Barker placed third in Best Hard News Reporting for his feature “The Policy Corner: Michigan Voting Laws,” and Rachel Kookogey (class of ’22) received both first and second place for two segments of her feature, “Sports Story Time.” WRFH general manager Scot Bertram says, “I’m very proud of our students for their well-deserved wins. It is great to see our students being recognized on the national level for their continued hard work and dedication.”…..SiriusXM announces its play-by-play coverage of the 2022-23 college basketball season that begins Monday (11/7). The opening night schedule features 24 teams from the men’s Associated Press Top 25, including defending national champion and #5-ranked Kansas facing Omaha and top-ranked North Carolina, coming off their 12th National Championship appearance, hosting UNC Wilmington…..Host Bethenny Frankel, the most successful business mogul to emerge from “The Real Housewives” franchise, and iHeartPodcasts launch a first-of-its-kind rewatch podcast titled, “ReWives.” Frankel, formerly of Bravo’s “The Real Housewives of New York,” breaks down the franchise that launched her career. In each episode, she’s “joined by unexpected celebrity guests ranging from superfans to Housewives newbies for hilarious conversations and surprising insight on real topics.” “ReWives” premieres on November 14 with Elisabeth Moss as Frankel’s first guest. New episodes will post each Monday with additional guests including Jerry Springer, Suze Orman, Kevin Nealon, Dave Portnoy, Griffin Johnson and more.

Broadcaster Raising Awareness of Need for Organ Donors. Western Massachusetts broadcaster and public relations pro Mark Auerbach (pictured) is revealing his battle with kidney disease in an effort to raise awareness of the need for organ donors. Auerbach hosts “ArtsBeat,” “On The Mark” and “Athenaeum Spotlight” on WCPC15 and 89.5fm/WSKB. He’s also the ArtsBeat reporter for Pioneer Valley Radio. On today’s program that you can see here, Auerbach reveals his battle with Stage 5 kidney disease and the need for donors. Auerbach says people can help by taking any of three steps: 1) becoming an organ donor upon your death; 2) consider donating while you’re alive (get details at kidney.org); and 3) donating to him at Mass General Hospital’s living donors program (https://mghlivingdonors.org/).

Politics and Midterms Top News/Talk Story for Week of October 31 – November 4. The politics leading up to Tuesday’s midterm elections were the most-talked-about story on news/talk radio, landing atop the Talkers TenTM. At #2 this week was the economy combined with the Fed’s rate hike, followed by the aftermath of the Pelosi home invasion at #3. The Talkers TenTM is a weekly chart of the top stories and people discussed on news/talk radio during the week and is the result of ongoing research from TALKERS magazine. It is published every Friday at Talkers.com. See this week’s complete chart here.

Front Page News Industry News

Friday, August 5, 2022

By Editor | by Editor

NOW POSTED: This Weekend’s Installment of “The Michael Harrison Wrap: An Overview of the National Conversation.” The latest installment of the one-hour weekend special, “The Michael Harrison Wrap,” that looks back each week at the hottest topics discussed in American talk media per the research of TALKERS, is now posted. This new episode titled, “Mixed Messages,” looks back at this past week of 8/1 to 8/5. The program features guests (in order of appearance): Kevin Casey, executive editor, TALKERS; Harry Hurley, talk show host, WPG, Atlantic City; Jack Heath, talk show host, The Pulse of NH, New Hampshire; Richard Neer, talk show host, WFAN, New York; and Greta Van Susteren, talk show host, Newsmax TV. The show airs weekends (Friday evenings to Sunday nights) on almost 100 broadcast signals and networks across the U.S. and U.K as well as having developed a significant international following as a podcast. To listen to this week’s episode, please click here. To view the latest TALKERS topic research, please click here. “The Michael Harrison Wrap” is available in syndication via Talk Media Network to stations across America on a market exclusive basis. For affiliation information, please click here or call 616-884-8616.

iHeartMedia Q2 2022 Revenue Up 10.7%. The company reports that its 2022 second quarter consolidated revenue was $954 million, an increase of 10.7% over the same period in 2021. For the quarter, iHeartMedia posted net income of $15.2 million compared with the net loss of $32 million it reported for Q2 of 2021. iHeartMedia reports financial data in three segments: the Multiplatform Group (broadcast, networks, and sponsorships & events), Digital Audio Group, and Audio & Media Services Group. The company says revenue from the Multiplatform Group increased $27.5 million, or 4.5% year-over-year, primarily as a result of the continued recovery from the impact of the COVID-19 pandemic. Broadcast revenue grew $12.2 million, or 2.7%, driven by higher spot revenue and political advertising revenue as 2022 is a midterm election year, partially offset by lower trade and barter revenue due to the impact of the timing of the iHeartRadio Music Awards show, while Networks grew $3.9 million, or 3.2%. Revenue from Sponsorship and Events increased by $9.5 million, or 33.2%, primarily as a result of the return of live events. Revenue from iHM’s Digital Audio Group increased $54.6 million, or 27.6% compared to the same period in 2021. Digital, excluding podcast revenue, grew $22.4 million, or 15.5%, driven by increased demand for digital advertising. Podcast revenue increased by $32.3 million, or 60.4%, driven by higher revenues from the development of new podcasts as well as growth from existing podcasts. iHeartMedia chairman and CEO Bob Pittman says, “We’re pleased to report another quarter of solid results for iHeart in terms of consumer usage, revenue and earnings growth and, most importantly, strong free cash flow generation. The Digital Audio Group continues to deliver industry-leading growth, and our Multiplatform Group continues to demonstrate that it is a growth engine for the company as well. As the #1 audio company in America across broadcast radio, digital radio and podcasting – and the largest consumer reach audio company in the U.S. by far, we remain committed to building our businesses for future growth and continuing to deliver both trusted companionship to our listeners and significant and unique value to our advertising partners.”

Audacy Q2 Net Revenue Rises 5%. Citing “declining macroeconomic conditions,” Audacy reports net revenue of $319.4 million, an increase of 5% over the same period in 2021. The company says that core spot revenue was $200.5 million – flat compared to the second quarter of 2021, and digital revenue was $69.3 million, up 19% compared to the second quarter of 2021. The company reports a net loss of $773,000 in Q2 of 2022 compared to the net income of $1.4 million it reported during the same period a year ago. Audacy breaks down its revenue by format categories and says that the news/talk category revenue (news/talk and all-news stations) was $51.8 million, an increase of 4.2% over the same period in 2021. Audacy president and CEO David Field comments, “After a very strong first quarter in which we grew revenues by 14% and significantly increased margin, our second quarter results were adversely impacted by declining macroeconomic conditions and ad market headwinds which reduced our top line growth to 5%. While we navigate the turbulent current market conditions, we are excited by our future growth potential across our scaled, multi-platform businesses, capitalizing on a number of important recent developments that include an enhanced national sales organization, expanded podcast and streaming audio networks, and during the second half of this year, the rollout of a new, reimagined digital platform and ad tech capabilities that will enable us to unlock pools of ad demand and supply that we can’t effectively monetize today. Our transformational development over the past couple of years has meaningfully enhanced our competitive position, strengthening our capacity to serve listeners and customers and enabling a powerful set of opportunities for revenue and EBITDA growth in the dynamically growing audio market.”

Audacy Gets Listing Standards Notice from NYSE. The company received notification from the New York Stock Exchange that its Class A common stock is not in compliance with the exchange’s continued listing standard requiring a minimum average closing price of $1.00 per share over 30 consecutive trading days. The notice does not result in the immediate delisting of the common stock from the NYSE. Audacy says it plans to notify the NYSE that it intends to regain compliance and is considering all available options that are in the best interests of the company and its shareholders. Audacy can regain compliance during a six-month cure period if, on the last trading day of any calendar month during the cure period, the common stock has a closing share price of at least $1.00 and an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month.

Salem Media Group Revenue Climbs 7.7% in Second Quarter of 2022. Reporting its financial data for the second quarter of 2022, Salem Media Group reveals total revenue of $68.7 million, an increase of 7.7% over the same period in 2021. The company also reports net income of $9.1 million, an increase of more than 300% from the net income of $2.25 million reported in the second quarter of 2021. Salem reports in three segments: Broadcast, Digital Media, and Publishing and for Q2 of 2022, net broadcast revenue increased 12.1% to $52.5 million. Digital Media revenue increased 4.5% to $10.8 million, while Publishing revenue decreased 18.5% to $5.4 million.

Saga Communications Second Quarter Net Revenue Up 6.3%. For the second quarter of 2022, Saga Communications, Inc posts net revenue of $29.8 million, an increase of 6.3% over the same period in 2021. Station operating income increased 10.6% to $9.3 million and operating income was $5.4 million compared to $4.6 million for the same quarter last year. Free cash flow was $3.2 million in Q2 of 2022 compared to $4.2 million for the same period last year. Capital expenditures for the quarter were $2.6 million compared to $921 thousand for the same period last year. Capital expenditures for the quarter included the $1.1 million purchase of a building in Norfolk, Virginia that will replace the company’s existing leased studio and office facility. Saga reports net income of $3.8 million for the second quarter of 2022 compared to net income of $3.3 million for the same period a year ago.

Audacy and CBS Sports Digital Patner for Content Distribution and Ad Sales. This exclusive, multi-year deal between Audacy and CBS Sports Digital makes Audacy the exclusive, ad sales and distribution partner for CBS Sports’ network of sports podcasts. The press release states that CBS Sports Digital has grown to reach more than 90 million monthly active users, making it the second-largest sports group in the U.S, and with more than 65 shows and nearly 100 million downloads in 2021. Audacy EVP of digital sales Ken Lagana says, “We are incredibly excited to be partnering with CBS Sports in the podcasting space – properties I know well from my time spent there. Adding this family of content to our roster provides Audacy with a number of the leading sports, fantasy sports and betting podcasts, areas we have enjoyed significant success to date and are important to our clients.  This partnership could not come at a better time with football season fast approaching.”

TALKERS News Notes. The John Fredericks Media Network announces a programming agreement for the newest member of its growing portfolio of radio stations as the network’s programming is now airing on Chesapeake-Portsmouth Broadcasting Corporation’s WTJZ-AM, Portsmouth, Virginia. JFMN chief operating officer Anne Fredericks says, “The Norfolk market is critical to our Virginia network as it represents the biggest U.S. naval base in the world at a very uncertain time for our nation’s Navy personnel. The uncertainty of potential hostility in the Asian perimeter and the South China sea makes this opportunity more important than ever. We will continue to provide all our listeners with extensive and in-depth coverage of China’s military and economic moves in the area, as well as top-flight analysis of the evolving events.”…..FOX Sports Radio’s LaVar Arrington announces an addition to his Up On Game Presents podcast lineup as musician, songwriter and creative director Flash Garments launches the “Under Appreciated with Flash Garments” show. Arrington says, “We’re super excited to have Flash Garments join the Up On Game Presents lineup with the launch of his ‘Under Appreciated’ podcast. Flash knows everybody, is very well respected, and has a lot to say! I think listeners will really enjoy this inspiring and enlightening program, and we look forward to sharing it with our audience every Friday!”…..WNRI, Woonsocket, Rhode Island talk host John DePetro has been filling in this week for WPHT, Philadelphia’s Dawn Stensland on her 10:00 am to 12:00 noon program…..The GCN-syndicated program “Classic Radio Theater with Wyatt Cox” adds new affiliate stations as KVOE-AM, Emporia, Kansas and KGEZ-AM, Kalispell, Montana adds the show to their program schedules. Cox comments, “I grew up on Sunnyslope Street in Emporia and listened to KVOE, enjoying some of the great music of the 60s and the fun personalities like the late Roger Hartsook. It’s a source of pride to be back in Emporia, if just virtually, every weekday.”

Video Tribute to Rich Stevens. The radio personality died on July 30 after suffering a heart attack. Rich Stevens enjoyed a career in music radio as well as in the talk radio format, hosting a program on Hubbard Radio’s WFTL, Fort Lauderdale. “Radio’s Best Friend” Art Vuolo put together a tribute video that you can see here.

The Economy Top News/Talk Story for Week of August 1-5. The state of the U.S. economy – the still-high cost of food and gasoline and the threat of a recession – was the most-talked-about story on news/talk radio this week, landing atop the Talkers TenTM. At #2 this week was a tie between partisan politics, the elections, and abortion rights, followed by House Speaker Nancy Pelosi’s trip to Taiwan tied with the related U.S.-China relations at #3. The Talkers TenTM is a weekly chart of the top stories and people discussed on news/talk radio during the week and is the result of ongoing research from TALKERS magazine. It is published every Friday at Talkers.com. See this week’s complete chart here.

Front Page News Industry News

Monday, August 1, 2022

By Editor | by Editor

Beasley Broadcast Group 2022 Q2 Net Revenue Rises 8.8%. The first radio-based audio firm to report 2022 second quarter financial data is Beasley Broadcast Group, which reveals net revenue of $64.8 million, an increase of 8.8% over the same period in 2021. The company also reports an operating loss of $5.4 million and a net loss of $14.5 million and explains the losses saying, “The operating loss in the second quarter of 2022 primarily reflects an $8.6 million non-cash impairment loss due to an increase in the discount rate used in the analyses to estimate the fair value of FCC licenses and goodwill in a rising interest rate environment. For the comparable three months ended June 30, 2021, the company recorded $1.5 million of other operating income, net from life insurance proceeds related to the death of George Beasley, the company’s former chairman. As a result of these factors, Beasley reported a net loss of $14.5 million, or a negative $0.48 per diluted share, in the three months ended June 30, 2022, compared to net income of $0.2 million, or $0.01 per diluted share, in the three months ended June 30, 2021.” Beasley CEO Caroline Beasley states, “Beasley delivered another period of strong top-line results in the second quarter, reflecting solid year-over-year growth across all of our revenue sources. Net revenue increased 8.8%, inclusive of a 4.3% rise in audio revenue and a 34.3% rise in digital revenue, with digital accounting for 16.5% of second quarter net revenue. Digital remains a central component of our revenue diversification strategy, and the momentum we are seeing in our digital business is further underpinned by our ability to grow digital revenue 37% on a quarterly sequential basis, while also improving our digital margin. Our new business performance was robust this quarter, as we recorded $7.8 million in new business revenue, representing a 60% increase from the first quarter of 2022 and 16% growth over the comparable prior year period. In addition, we acquired a small white label digital agency at the end of June, which will immediately contribute positive cash flow and synergies. We believe these results continue to demonstrate the inaccuracy of the perception that radio is more challenged than other segments of the technology, media, and telecom sectors… We are keeping a close eye on the declining economic environment and initiated cost reductions beginning in the second quarter. Looking ahead, we will continue to focus on controlling what we can control, maximizing our growth opportunities, managing our expenses and capital structure, serving our audiences and advertisers and delivering results for our stockholders.”

Monday Memo: Review Airchecks…Later. As “automation and syndication have made radio less-local,” consultant Holland Cooke calls talent coaching “a lost art”; and he uses this week’s column to offer tips “for hosts and DJs who feel neglected.” Read more here.

 

Pending Business: The One Thing Every Advertiser Should Know. Radio sales pro Steve Lapa says that any radio seller who wants to be successful has to answer the following question: “What is the one ‘thing’ every advertiser should know about my on-air talent?” In other words, what is the unique selling point that can be connected to your on-air talent and only the talent you represent. Read his column here.

Alex Silverman to Lead Programming at All-News KNX-AM/FM, Los Angeles. News radio programming pro Alex Silverman is moving to Audacy’s KNX-AM/FM, Los Angeles to serve as director of news and programming, effective September 19. He’s been serving with the company as brand manager for the company’s all-news KYW-AM/FM, Philadelphia since 2018. Prior to that, he was assistant director of news and programming at Audacy’s WCBS-AM, New York. In his new role at KNX, Silverman will “oversee the station’s editorial strategy and newsroom, including broadcast and digital operations, with an eye towards audience and revenue growth and engagement on all platforms.” Silverman states, “KNX News is iconic. I can’t wait to work with the amazing team to build the future of the brand and set the agenda for news coverage in Southern California. Thank you to Jeff Federman, Chris Ebbott, Jeff Sottolano and Bill Smee for their confidence in me and commitment to impactful local journalism.” Silverman is a graduate of Syracuse University’s S.I. Newhouse School of Public Communications. He serves on the board of directors of the Radio Television Digital News Association and has been an adjunct instructor at Fordham University, where he designed a course titled, “Social Media for Journalists.” Silverman takes over the role from Ken Charles, who did not renew his contract with the company.

Dwight Jaynes Joins Afternoon Show on ‘Rip City Sports Radio 620.’ Sports talk host Dwight Jaynes is joining Chad Doing at iHeartMedia’s KPOJ, Portland “Rip City Radio 620” as co-host of the “Rip City Drive” program that airs from 3:00 pm to 6:00 pm. Jaynes, also known as “The Godfather,” spent 25 years as a sports columnist for the Oregon Journal and The Oregonian covering the NBA’s Trail Blazers and has co-written two books about the team. He also spent 11 years at NBC Sports Northwest, hosting “Talkin’ Ball” and “Posting Up.” Prior to that, Jaynes hosted the “Morning Sports Page” show alongside Doing on KXTG-FM, Portland. Doing says, “I am thrilled to be reunited with my former partner. Dwight is a Hall of Famer for good reason – no one has more experience covering Oregon sports. I look forward to making compelling radio with him every day. His sports knowledge and storytelling are unmatched.” Jaynes comments, “I am beyond excited to return to sports talk radio – especially with my old partner Chad Doing – who I believe to be one of the best in the country. The best part of our shows has always been our willingness to take on the tough issues – sports or otherwise – and find creative ways to shape discussion and opinion. At the same time, you never quite know what we’re going to do next… because we don’t!”

Clay Travis & Buck Sexton Interview Trump at LIV Golf Tourney in Bedminster, New Jersey. Pictured above with former President Donald Trump are Premiere Networks syndicated talk hosts Clay Travis (left) and Buck Sexton (right) at the Trump National Golf Club in Bedminster, New Jersey, the site of the LIV Golf tournament. Trump joined the duo live on their show discussing such topics as recession, China and Taiwan, and whether he’ll run for president in 2024, about which he said, “Very hard for me not to run to be honest. And also the polls indicate from the Republican standpoint it would be easy. And I think I was up 11 points on Biden the other day… I don’t know why 11… If you guys ran, you’d be up more than 11… In my mind, I’ve already made the decision.”

Stacey Thomas Named Director of Marketing for iHeartMedia Philly. Eighteen-year iHeartMedia Philadelphia staffer Stacey Thomas is promoted to director of marketing and promotions for the cluster that includes sports talk WDAS-AM “The Gambler” and WTEL “BIN: Black Information Network.” In this role, Thomas will oversee the Philadelphia brand portfolio and will be responsible for developing, planning, and directing all marketing and promotions efforts. She previously served the cluster as media integration director. iHeartMedia Philadelphia market president Jeff Moore says, “It has been remarkable working alongside Stacey and watching her persevere through numerous changes and challenges. A tireless worker who puts the needs of iHeart Philly above all else will now get the chance to put her stamp on the promotions department in a time when making deep and meaningful relationships with our audiences and partners couldn’t be more important.”

Ava Lynn LaRue Named Inaugural MIW Mentee in Minnesota. The Mentoring and Inspiring Women in Radio, Inc and the Minnesota Broadcasters Association announce that Ava Lynn LaRue is named the inaugural mentee for the “MIW Mentoring and Inspiring Women in Minnesota” program. This partnership between the two organizations is led by MBA president Wendy Paulson and is MIW’s newest mentoring opportunity and the start of its three-to-five year strategic plan to partner with state broadcast associations across the United States and assist in building in-house, ongoing programs devoted to coaching and guiding the next generation of radio professionals. LaRue is the station manager for Q-Media Group, LLC in Red Wing, Minnesota. MIW board president Ruth Presslaff says, “Lightning struck twice! Partnering with Wendy has been positive, productive, and way fun. And then to meet the powerhouse Ava LaRue and have the opportunity to work with her is what the MIWs are all about. Thanks MBA, Wendy, and Ava!” Paulson adds, “A huge ‘thank you’ to all of the incredible women who applied to participate in the 2022 ‘MIW Mentoring and Inspiring Women in Minnesota’ program! The judging committee was blown away by the depth of talented women that applied to be part of this pilot mentorship program!”

Biden’s Energy & Health Bill, Inflation Reduction Act, November Midterms/2024 Presidential Race, COVID-19/Biden Positive Again, Pelosi’s Asia Trip, Russia-Ukraine War/Global Food Crisis, Deadly Kentucky Floods/Western Wildfires, Monkeypox, and Nichelle Nichols & Bill Russell Die Among Top News/Talk Stories Over the Weekend. The fate of President Joe Biden’s energy & healthcare bill; debate over the Schumer–Manchin authored Inflation Reduction Act; November’s midterm elections and the 2024 presidential race; the rate of BA.5 subvariant infections in the U.S. and Biden’s testing positive again; House Speaker Nancy Pelosi’s trip to Asia and China’s threats if she visits Taiwan; the Russia-Ukraine war and its effects on the global food supply; the continuing threats of flooding in Eastern Kentucky and the Western wildfires; the growing monkeypox epidemic; and actress Nichelle Nichols and basketball legend Bill Russell pass away were some of the most-talked-about stories on news/talk radio over the weekend, according to ongoing research from TALKERS magazine.  

Front Page News Industry News

Tuesday, May 10, 2022

By Editor | by Editor

Townsquare Media Reports Q1 Net Revenue Up 13%; Tops Pre-COVID Net Revenue by 7%. For the first quarter of 2022, Townsquare Media is reporting net revenue of $100.2 million, an increase of 13% over the same period in 2021 and an increase of 7% over the same period in Q1 of 2019. Townsquare is also reporting net income of 2.74 million for Q1 of 2022 compared to the loss of $6.1 million it reported in the first quarter of last year. Townsquare reports in three segments: 1) Subscription Digital Marketing Solutions – including its subscription digital marketing solutions business, Townsquare Interactive. That segment reported revenue of $21.8 million, an increase of 15% over Q1 of 2021; 2) Digital Advertising – marketed externally as Townsquare Ignite that includes digital advertising on its owned and operated digital properties and its digital programmatic advertising platform. That segment reported revenue of $29.2 million, an increase of 16.6% over last year; and 3) Broadcast Advertising – including the company’s local, regional, and national advertising products and solutions delivered via terrestrial radio broadcast (plus other miscellaneous revenue associated with the broadcast advertising platform). That segment’s revenue was $48.1 million, an increase of 7.7% over the same period a year ago. Townsquare CEO Bill Wilson states, “I am proud to announce our strong start to 2022, with net revenue, Adjusted EBITDA and net income increasing year-over-year by +13%, +10%, and $8.9 million, respectively. In addition, net revenue and Adjusted EBITDA exceeded our previously issued guidance due to strong growth and strong margins. As a Digital First Local Media Company, our first quarter performance was driven by our digital platform and solutions, with total digital revenue increasing +16% year-over-year in the first quarter (representing 51% of our total Q1 net revenue) and total digital Adjusted Operating Income increasing +11% year-over year (representing 55% of our total Q1 Adjusted Operating Income). As we move forward, we expect double-digit digital net revenue growth to continue at strong margins, fueling our overall growth and subsequent debt reduction, from 4.66x net leverage today to 4.0x by year end. We are also pleased to re-affirm our 2022 guidance and our 2024 digital revenue target of at least $275 million. These results and confidence in our outlook are due, in part, to the fact that Townsquare is the only local media and digital marketing solutions company of scale focused principally on markets outside of the Top 50 in the United States, a vital differentiator for our company. Our new reporting segments highlight the profit characteristics of our digital platform, which is essentially equal to those of our broadcast platform, each with profit margins of approximately 30%. While we view local radio as an extremely valuable asset with significant and attractive cash flow properties, unparalleled consumer reach, and an important and trusted local connection to our audience and communities, it is not our primary growth driver. With approximately half of our total revenue and profit coming from digital today, we have a strong digital growth engine that will drive significant and consistent growth in the coming years. It is our belief that as a Digital First Local Media Company providing a detailed breakout of our digital revenue and digital profit, Townsquare should be afforded a sum-of-the-parts valuation that gives credit to our digital assets.”

 

MIW Launches State Broadcasters Partnership Program. The non-profit organization Mentoring and Inspiring Women in Radio, Inc., dedicated to the advancement of female leadership in radio broadcasting, announces a new national program designed to create mentorship opportunities in every state in the union. This three-to-five-year strategic plan exponentially expands the organization’s mentoring outreach across the United States. The first pilot program partners MIW with the Minnesota Broadcasters Association to create, “Mentoring and Inspiring Women in Minnesota.” MIW’s long term plan includes establishing close working relationships with leadership from all interested state broadcasters associations and broadcasters across the country to create mentorship curriculums for female professionals in radio broadcasting. With MIW’s guidance, these state-centered programs will be based on the tenets, structure, and best practices of MIWs broad array of successful and established mentoring opportunities. MIW Board president Ruth Presslaff says, “This program is designed to dramatically expand our mentorship outreach. We couldn’t ask for a better first partner than president Wendy Paulson and the Minnesota Broadcasters Association as we work toward a mentee in every state. Cheers to the first. Forty-nine to go!” Find out more here.

 

TALKERS News Notes. When the Radiodays Europe conference takes place in Malmö, Sweden May 15-17, Beasley Media Group CEO Caroline Beasley will take part in two sessions. She will participate in a special one-on-one session titled, “American Regional Radio in the Digital Age,” hosted by Benztown president Dave “Chachi” Denes. In addition, Beasley will take part in the “Audio Summit” panel, featuring Sibyle Veil (CEO Radio France), Linda Pamgren (CEO Bauer Media Sweden) and Cathinka Rondon (head of Radio-NRK). The session will be moderated by Folder Media creative director Matt Deegan…..The nationally syndicated, weekend shooting sports program “Tom Gresham’s Gun Talk” adds WBIN Media’s WTPL-FM, Hillsborough, New Hampshire and Berkshire Broadcasting Corp’s WLAD-AM/W231DJ, Danbury, Connecticut to its roster of affiliate stations. The program is syndicated by Talk Shows USA…..Chicago-based MediaTracks Incorporated sells “Radio Health Journal” and “Viewpoints Radio” to American Urban Radio Networks, LLC. The two weekly public affairs programs are syndicated on a total of nearly 1,500 stations in more than 200 U.S. markets. Bob Heymann of the Chicago office of Media Services Group served as the exclusive broker for the seller in this transaction…..Audio content, marketing, and advertising services firm Gemini XIII, joins forces with Diversion Podcasts through an investment that will grow Diversion’s offerings under a new premium podcast network called Diversion Audio. Diversion Audio will become Gemini XIII’s content division. The division will leverage sister company Diversion Books’ publishing assets and author relationships to offer a focused content model it says is unique to podcasting: expanding IP from books, authors, and personalities into the podcast medium as original audio content across both high-frequency episodic shows and engrossing narrative limited series. Gemini XIII co-founder and CEO Spencer Brown says, “Through Diversion Audio, we will build upon the successful franchises and proven track record that Scott [Waxman] and his talented team have created at Diversion Podcasts. Together with our recent acquisitions of Phantom Producer and The Infinite Agency, Gemini XIII is well-positioned to optimize these premium assets and capabilities to build and grow a new breed of audio company. The creation of Diversion Audio advances that strategy considerably. We think podcast listeners and readers alike will love what they hear as we launch new podcasts tied to Diversion’s expansive intellectual property library.”

 

The Economy, Russia-Ukraine War, Roe v Wade, Midterms/Trump & the GOP, COVID-19, Vicky White/Casey White Manhunt, and Western Drought/Texas Wildfire Among Top News/Talk Stories Yesterday (5/9). The falling Dow and NASDAQ, the high price of gas & food, and concerns about a full-blown recession; Russia’s invasion of Ukraine and concerns about Vladimir Putin’s health and willingness to use nuclear weapons; the aftermath of the leak of a draft of the Supreme Court’s ruling to overturn Roe v Wade; the November midterm elections and Donald Trump’s influence over the GOP; the rate of cases, hospitalizations & deaths from COVID-19; the manhunt for Alabama corrections officer Vicky White and convict Casey White ends; and the drought in the U.S. West and the Texas wildfires were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.

Front Page News Industry News

Friday, May 6, 2022

By Editor | by Editor

NOW POSTED: This Weekend’s Installment of “The Michael Harrison Wrap: An Overview of the National Conversation.” The latest installment of the one-hour weekend special, “The Michael Harrison Wrap,” that looks back each week at the hottest topics discussed in American talk media per the research of TALKERS, is now posted. This new episode titled, “Mothers of Contention,” looks back at this past week of 5/2 to 5/6. The program features guests (in order of appearance): Kevin Casey, executive editor, TALKERS; Harry Hurley, talk show host, WPG, Atlantic City; Thom Hartmann, talk show host, WYD Media; Todd Feinburg, talk show host, WTIC, Hartford; and Gregg Stebben, correspondent, beamz.live. The show airs weekends on WONK-FM, Washington, DC; WTIC, Hartford; KSCO, Santa Cruz, CA; KDFD, Denver; KFNX, Phoenix; KTLK-FM, St. Louis; WPG, Atlantic City, NJ; SuperTalk 99.7 WTN, Nashville; KMZQ, Las Vegas;  WTPL, Manchester, NH; WEMJ, Laconia, NH; WTSN, Dover-Portsmouth, NH; WVLY, Wheeling, WV; WTRW-FM, Scranton/Wilkes Barre, PA; WVOX, Westchester, NY; KBDT, Dallas; WGDJ, Albany, NY; WJFN-FM, Richmond, VA; WZFG, Fargo; KTGO, Tioga, ND; KWAM, Memphis; K-NEWS, San Luis Obispo; WGMD, Rehoboth Beach, DE; WCHM, Clarkesville, GA; WPHM, Port Huron, MI; KSYL, Alexandria, LA; KTOE, Mankato, MN; WCED, DuBois, PA; K-NEWS 101.3, Owensboro, KY; WWTK, Sebring, FL; WSAR-AM/FM, Fall River, MA; WIZM-AM/FM, La Crosse, WI; WMVA, Martinsville, VA; KQEN, Roseburg, OR; the Virginia Talk Radio Network; CRN Digital Talk Radio Network; Podcast Radio UK and many more. To listen to this week’s episode, please click here. To view the latest TALKERS topic research, please click here. “The Michael Harrison Wrap” is now available in syndication via Talk Media Network to stations across America on a market exclusive basis. For affiliation information, please click here or call 616-884-8616.

 

iHeartMedia Reports Q1 2022 Consolidated Revenue Up 19.4%. Financial results from the first quarter of 2022 for iHeartMedia Inc. reveal consolidated revenue of $843 million, an increase of 19.4% over the same period a year ago. The company’s net loss shrank during the first quarter to $48.7 million from the $242 million net loss posted during Q1 of 2021. iHeartMedia posted operating income of $12.3 million for the first quarter, compared to the operating loss of $76.4 million it reported in Q1 of 2021. Looking at the company’s reporting by segment, broadcast radio was up 16.2% on revenue of $416.5 million, and networks was up 2.1% on revenue of $117.6 million. Those, along with sponsorships & events, comprise the company’s Multiplatform Group. The Digital Audio Group consists of digital excluding podcasting, which reported revenue of $145.7 million (up 22.2%), and podcasting, which reported revenue of $68.5 million (an increase of 78.7%). The company’s Audio & Media Services Group reported revenue of $60.9 million (up 10.4%) for the quarter. iHeartMedia chairman and CEO Bob Pittman states, “We’re pleased to report another quarter of strong results, and believe our performance is further evidence of the successful execution of our digital transformation and multiplatform strategy, and the power of our position as the #1 audio company in America across broadcast radio, digital radio, and podcasting. We remain committed to building on iHeart’s transformation into a data-led, digitally focused business; to investing in areas with high-growth potential; and to continuing our focus on innovation and being at the forefront of new technologies and digital platforms which create incremental growth opportunities for Audio.”

 

‘Toucher & Rich’ Morning Show Expands to Springfield, Mass. Market. The “Toucher & Rich” morning program based at Beasley Media Group’s sports talk WBZ-FM, Boston “98.5 The Sports Hub” will be heard on rock Saga Communications’ WLZX-FM/W253CD in the Springfield-Northampton, Massachusetts market beginning on May 9. The program, hosted by Fred Toucher (left) and Rich Shertenlieb (right), began expanding to affiliate stations throughout New England last fall. This is an uncommon move for Saga, which has a history of keeping its morning drive programs live and local. Toucher & Rich comment, “We’re excited to be launching ‘Toucher & Rich’ in Springfield and Northampton on ‘Lazer 99.3 and 98.5’ with our new friends at Saga Communications. We’re fortunate to have some of the most loyal listeners in radio and look forward to introducing our show to a whole new audience of potential T&R diehards.”

 

Moms & Media 2022. “Two years into COVID,” Moms’ media consumption is changed. “The Research Moms” at Edison Research updated their annual report in a Thursday webinar consultant Holland Cooke attended; and HC’s “one-sentence version” is: “To reach Mom, use smartphones, Alexa, Facebook, and TikTok.” Click here for his notes, and links to download the report and watch a video of the narrated presentation. Read more here.

 

WJR-AM, Detroit Celebrates 100 Years on the Air. On Wednesday (5/4), Cumulus Media’s news/talk WJR-AM, Detroit kicked off a year-long Centennial celebration. WJR signed on for the first time on May 4, 1922, as WCX, which changed a few years later to WJR to reflect the ownership of the Jewett Radio and Phonograph Company. Cumulus says, “The station has served the community with excellence for 100 years, with a 50,000-watt signal that can be heard across nearly half the country at night, providing the city of Detroit, the state of Michigan, and the Upper Midwest with news, music, sports, and information by some of the most talented people in the radio industry. Through the years, WJR’s legendary lineup has featured broadcasting giants such as Paul W. Smith, Jack Parr, Mitch Albom, J.P. McCarthy, Frank Beckmann, Ernie Harwell, Guy Gordon, and Rush Limbaugh.” In the last several months leading up to Wednesday’s 100th year birthday, WJR has presented dozens of on-air vignettes that mark memorable moments, tell interesting stories, and feature the unique sound and talented people from WJR’s history. In addition, the station has populated www.wjr.com with archival video, audio and photos that tell the story of WJR’s first 100 years. Cumulus Detroit VP and market manage Steve Finateri comments, “Being at WJR is like being part of an all-star team at every position in this famous Fisher Building. WJR is iconic because of the extremely high standards set by so many world class broadcasters over the past 100 years. Today, those same high standards and our ‘blow torch coverage’ is what still attracts top newsmakers from around the Great Lakes Region and is the reason for our continued success. We take great pride in our programming, our business and civic relationships, and serve the community by raising millions every year for numerous worthy charities that improve the quality of life in Detroit. The best-of-the-best seem to find their way to WJR, and I know that tradition will continue on for the next 100 years.”

 

TALKERS News Notes. Chicago media writer Robert Feder reports that Windy City media personality and former WGN-AM, Chicago morning drive host Steve Cochran is going to be heard on Cumulus Media’s WLS-AM in mornings next week. Cochran will guest host the program that is without a permanent host since Bruce St. James exited the station last month. Since exiting WGN, Cochran has been producing a twice-weekly podcast titled, “Live from My Office.”…..Audio streaming service TuneIn names Tom Fuelling chief financial officer. Fuelling has served as CFO for Hulu, OpenX, ARTISTdirect and most recently, Spokeo, Inc. TuneIn CEO Richard Stern says, “Tom is an incredible addition to our growing leadership team. His experience scaling global media businesses that consumers love is unparalleled. Working in a competitive landscape, TuneIn has emerged as a leader in live audio streaming and we look forward to working with Tom as he’ll help us sustain and maintain our growth both domestically and abroad.”…..FOX News Media, in partnership with the National Merit Scholarship Program, announces the selection of the recipients of the third annual Dr. Charles Krauthammer Memorial Scholarship. This year’s scholarships will be endowed to Emmett Gaffney, son of vice president of documentary programming, Brian Gaffney and Grace LeCroy, the daughter of FOX News assignment desk manager Lillian LeCroy and FOX News Edge photojournalist Phil LeCroy. The winners will be featured on the network’s evening newscast, “Special Report with anchor Bret Baier,” on which Dr. Krauthammer was a fixture over the years. Additionally, Daniel Krauthammer will appear on the program tonight to discuss his father’s legacy. In making the announcement, FOX News Media CEO Suzanne Scott says, “We are pleased to continue the tradition of honoring Charles Krauthammer’s extraordinary and celebrated career. Emmett and Grace are exceptional students whose many talents extend beyond the classroom. It is our hope that Charles’ brilliant intellect, integrity and courage will serve as an inspiration for them throughout their next endeavors in higher education. Congratulations to Emmett, Grace, and their families.”

 

Roe v Wade Top News/Talk Story for Week of May 2-6. The leak of a draft decision indicating the Supreme Court will overturn Roe v Wade was the most-talked-about story on news/talk radio this week, landing atop the Talkers TenTM. At #2 this week was partisan politics tied with the 2022 and 2024 elections, followed by January 6 committee activity tied with Donald Trump’s influence over the GOP at #3. The Talkers TenTM is a weekly chart of the stories and people discussed on news/talk radio during the week and is the result of ongoing research from TALKERS magazine. It is published every Friday at Talkers.com. See this week’s complete chart here.

Front Page News Industry News

Thursday, March 10, 2022

By Editor | by Editor

Townsquare Media Reports 2021 Q4 Net Revenue Up 1.9%; Full Year Net Revenue Rises 12.6%. The 2021 fourth quarter and 2021 full year financial report from Townsquare Media reveals Q4 net revenue of $110.6 million, an increase of 1.9% over the same period in 2020. For the full year of 2021, net revenue was $418 million, up 12.6 % over the full year of 2020. Townsquare Media reports its financial information in three primary segments: 1) Subscription Digital Marketing Solutions, which includes the company’s subscription digital marketing solutions business called Townsquare Interactive. 2) Digital Advertising includes the digital advertising business sold as Townsquare Ignite, and 3) Broadcast Advertising includes the company’s local, regional, and national advertising products and solutions delivered via terrestrial radio broadcast, as well as other miscellaneous revenue that is associated with the broadcast advertising platform. Company CEO Bill Wilson says, “Beginning with our 2021 year-end reporting, we have re-segmented our business to provide greater visibility for our existing and prospective investors. Importantly, this re-segmentation will highlight the profit characteristics of our digital platform, which is essentially equal to those of our broadcast platform, each with profit margins of approximately 30%. Given this new and more detailed information, Townsquare should be viewed and valued as a Digital First Local Media Company, rather than being painted with a traditional broadcast radio brush. While we view local radio as an extremely valuable asset with significant and attractive cash flow properties, unparalleled consumer reach, and an important and trusted local connection to our audience, it is not our primary growth driver. Our growth engine is and will continue to be digital, which fueled our transformation into a Digital First Local Media Company. With nearly half of our total revenue and profit coming from digital today, we have a strong growth engine that will drive significant and consistent growth in the coming years. It is our hope and expectation that given this new more detailed information, Townsquare will be afforded a sum-of-the-parts valuation that gives credit to our digital assets, credit which to date we have not received.” For the full year of 2021, Townsquare reports net income of $18.8 million, compared to a net loss of $80.6 million reported for the full year 2020, which the company says was primarily driven by approximately $109.1 million of non-cash impairment charges, primarily related to its FCC licenses.

 

Saga Communications Q4 Net Revenue Flat; 2021 Full-Year Net Revenue Up 13.1%. The company reports 2021 fourth quarter net revenue of $29.2 million, basically flat compared to the $28.8 million reported for the fourth quarter of 2020. Net income for Q4 of 2021 was $3.7 million compared to $2.3 million reported for the same period in 2020. For the full year of 2021, Saga Communications reports net revenue increased 13.1% to $108.3 million compared to $95.8 million for the full year of 2020. The company reports net revenue for 2021 of $11.2 million compared to the net loss of $1.9 million reported for the full year of 2020. Saga says its balance sheet reflects $54.8 million in cash on hand as of December 31, 2021 and $56.2 million as of March 7, 2022.

 

KOA, Denver Morning Personality April Zesbaugh Announces Retirement. “Colorado’s Morning News” co-host April Zesbaugh announces that she’s retiring from iHeartMedia’s news/talk KOA, Denver in the coming months after a 30-year broadcast journalism career that includes 25 years with KOA. Zesbaugh has co-hosted “Colorado’s Morning News” since 1996 and is one of the longest running news personalities in Colorado. She comments, “Despite my 2:30 am wake-up call for the last 30 years, I feel very fortunate for every second in front of the KOA microphone. It’s time to hang-up my headphones to pursue more family time, play more tennis, travel in our RV and see what it feels like to sleep without an alarm clock.” Zesbaugh is the winner of one national and numerous regional Edward R. Murrow Awards for journalism excellence by the Radio Television Digital News Association, as well as countless awards for “Colorado’s Morning News” from the Colorado Broadcasters Association and the Associated Press. She has also been an influential member of the Denver community and has emceed numerous charity events, including those focused on mental health, Alzheimer’s disease, the challenges of single mothers and animal rescue. KOA program director Greg Foster says, “April is one of the most recognizable and popular voices in Colorado and has set a professional standard which has contributed to the success of KOA. While we will miss our friend and colleague, April has earned the opportunity to enjoy her retirement.” Zesbaugh adds, “I’m grateful to Jerry Bell, former news director of KOA, for hiring me – calling me during my honeymoon to offer me the job – and to the current news director, Kathy Walker, and the KOA news team who have been with me every step of the way in helping to make me a better broadcaster and journalist. I’m leaving our listeners in good hands with my co-host, Marty Lenz. He has great news chops and asks really smart questions.”

 

Chris Hansen is This Week’s Guest on Harrison Podcast. Multi-platform reporter and predator-hunter Chris Hansen is this week’s guest on the award-winning PodcastOne series “The Michael Harrison Interview.” For nearly four decades, Hansen has been on the front lines of crime, enterprise reporting, and breaking news all over the world. Most recently he was an executive producer and reporter for the “Onision: In Real Life” and “Unseamly…The Peter Nygard Investigation” series now on Discovery+ and the current top-rated podcast “Predators I Have Caught with Chris Hansen.” He has also been host and correspondent for the syndicated program “Crime Watch Daily” as well as “Killer Instinct on ID” and “Dateline NBC.” He created the groundbreaking investigations, “To Catch A Predator,” among others. These investigations are responsible for exposing some 400 men attempting to meet children online for sex. Hansen has been honored with 10 Emmys, five Edward R. Murrow awards as well as excellence in reporting by the Overseas Press Club. He also has a substantial digital presence including a YouTube channel, which has more than 375,000 subscribers and 25 million views. The deep-dive conversation between Harrison and Hansen covers two major areas – the rapid evolution of media (including the tenets of building a YouTube channel) to the scourge of crime on our city streets as well as the mean streets of cyberspace where sexual predators continue to prowl for children and young women. To listen to the podcast in its entirety, please click here.

 

 

SRN’s Eric Metaxas Broadcasts from National Religious Broadcasters Conference. Pictured above (at right) is Salem Radio Network host Eric Metaxas broadcasting his program live from the National Religious Broadcasters conference from the Gaylord Opryland Hotel in Nashville. Pictured with Metaxas are U.S. Congressman Allen West (left) and Rick Green, founder of Patriot Academy (center). NRB 2022 continues through this weekend.

 

PodcastOne Joins Top 10 Podcast Publishers. According to data from podcast metric company Podtrac, PodcastOne is ranked #8 on the list of Top Podcast Publishers. Podtrac ranks top publishers based on unique audience counts. PodcastOne president Kit Gray says, “Being recognized by Podtrac with inclusion on the Top Publishers list is a testament to the hard work of the PodcastOne team both behind the mic and behind the scenes. Our hosts are delivering top-notch entertainment and providing content that is resonating with listeners as is evidenced by the growth in audience numbers across the board.” PodcastOne says its growth “comes on the heels of the successes and strengths of tentpole podcasts ‘Baby Mamas No Drama’, ‘Off The Vine with Kaitlyn Bristowe,’ ‘The Jordan Harbinger Show’, ‘LADYGANG’ and ‘The Adam Carolla Show,’ as well as acquisitions of top-performing programs such as ‘Coffee Convos,’ ‘True Crime All the Time Unsolved,’ and ‘This Is MONSTERS,’ which all saw significant audience growth since joining PodcastOne.”

 

JVC Broadcasting: ‘Radio is Working and Radio Works!’ Long Island-based JVC Broadcasting is sending a message to the industry – and beyond – that its recent hiring spree shows that the radio market is a good place for job seekers. JVC says that this January, it began a massive recruitment campaign using its local radio stations and social media platforms and the response was overwhelming. JVC announces that is has hired or internally promoted 16 media and entertainment professionals companywide. JVC president and CEO John Caracciolo states, “The current radio market is great for employment. There was a lot of trepidation for media companies in 2020 and 2021. People wanted to see how things would work out and if the radio business would bounce back, and it did stronger than ever. The most important and most rewarding investment an entrepreneur can make isn’t a new client or a cool piece of equipment, it’s your team of employees. I have built this business by surrounding myself with fantastic people who are visionaries and leaders. If all your employees become entrepreneurially minded or leaders in their own right, your organization will grow even faster. And the coolest thing about this entire recruitment campaign is we did all the outreach using only our local radio station assets! So yes, radio is working and radio works!”

 

Russia-Ukraine War, House Omnibus Bill, Gas Prices/Inflation, Biden Cryptocurrency Order, COVID-19, Midterms/Trump & the GOP, and MLB Season Among Top News/Talk Stories Yesterday (3/9). Russia’s ongoing invasion of the Ukraine and the West’s reaction; the U.S. House passes an omnibus bill that would include $14 billion in Ukraine aid; the soaring price of gas at the pump and high consumer retail prices; President Joe Biden signs executive order to investigate risks and opportunities of cryptocurrency; the falling rate of COVID-19 cases and the rolling back of mask mandates; the battle for control of Congress in the November midterms and Donald Trump’s influence over the GOP; and the failing negotiations between MLB owners and players were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.