You are here: Home » Archives for net revenue
Tag: "net revenue"
Audacy Names Spike Eskin VP of Programming for WFAN, New York and CBS Sports Radio. Sports and radio programming pro Spike Eskin is being promoted to vice president of programming for Audacy’s WFAN-AM/FM, New York and CBS Sports Radio, effective July 1. Eskin, who has been brand manager for the company’s sports talk WIP-FM, Philadelphia, will take over for longtime WFAN programmer Mark Chernoff, who is stepping down from his roles with Audacy on June 30. Audacy New York SVP and market manager Chris Oliviero says, “Spike has the vision, creativity, and drive to craft the next chapter of the iconic and influential WFAN brand. Along with CBS Sports Radio, his experience will be ideal to fuel our sports production powerhouse of 48 hours a day of original audio, 12 hours of quality television, all alongside a vibrant digital and social experience for both New York and the nation. As a longtime colleague of Spike, I am excited that he has joined our all-star team and have no doubt that he will succeed.” Speaking about his new role, Eskin says, “I’m humbled and excited for the opportunity to help lead WFAN into its next chapter. It’s an iconic station with incredible talent, and I’m looking forward to the challenge. I’m grateful to Chris Oliviero and Audacy for the opportunity. Working at 94WIP over the last decade has been one of the most rewarding experiences of my life. I’m grateful to David Yadgaroff for his belief in me and the staff who stepped up to every challenge.”
Urban One 2021 First Quarter Net Revenue Declines 3.6%. The 2021 first quarter financial results for Urban One, Inc. indicate net revenue was approximately $91.4 million, a decrease of 3.6% from the same period in 2020. Broadcast and digital operating income was approximately $36.4 million, a decrease of 3.3% from the same period in 2020. The company reports operating income of approximately $23.8 million for Q1 of 2021 compared to an operating loss of approximately $27.3 million for the same period in 2020. Net income was $7,000 compared to a net loss of approximately $23.2 million during the first quarter of 2020. Adjusted EBITDA was approximately $28.8 million in Q1 compared to approximately $32.3 million for the same period in 2020. Urban One CEO and president Alfred C. Liggins III, states, “Normalizing for approximately $1.4 million of Richmond gaming chase costs, which were one-time in nature, our Adjusted EBITDA was down approximately 6.3% year-over-year, which was encouraging in the context of pre-COVID radio comparatives for January and February and a lack of political revenues. It is worth noting that compared to Q1 2019, which was a pre-pandemic and off-cycle political quarter, our Adjusted EBITDA was up by approximately 4.1% (and by 9.1% after normalizing for the Richmond gaming project). Our core radio advertising was down approximately 13.7% for the quarter, with January -28.4%, February -19.9% and March +8.8%. Currently for second quarter, core radio is pacing up over 70%, with April finishing at +89%. Our digital business had another strong quarter, with revenues up 64.6% and Adjusted EBITDA up by approximately $3.2 million. Cable TV revenues were down 2.6%, but Adjusted EBITDA of approximately $24.8 million was 14.5% higher than Q1 2019 (approximately $21.7 million), which is a more realistic comparison than the COVID-impacted Q1 2020, during which content production and marketing were effectively shut-off. Under the circumstances, we delivered a solid first quarter, and I anticipate further sequential improvements in Q2.”
Longtime WFAN, New York Programmer Mark Chernoff Named to New York State Broadcasters Association 2021 Hall of Fame Class. One of the four broadcasters joining the New York State Broadcasters Association Hall of Fame this year is longtime WFAN, New York program director Mark Chernoff, who’s been behind the programming helm of the legendary sports talk station for almost 30 years. The NYSBA says, “While known for his sports programming, Mark started his career at music stations including the legendary WNEW-FM from 1985-1989. He was the program director at ‘K-Rock 92.3 FM’ from 1989-1993 which included working with the legendary Howard Stern. Mark again worked as K Rock’s programming director from 2004-2006, where he helped develop the unique ‘Free FM’ format as a response to subscription-based satellite radio services and had the opportunity to work with Opie and Anthony. He even worked as a rock music DJ for more than a decade. Mark joined ‘The Fan’ in 1993. At WFAN Chernoff oversaw iconic shows such as ‘Imus in the Morning’ and ‘Mike and the Mad Dog.’ Chernoff’s skills were put to the test as he rebuilt WFAN’s programming following Imus’s comments about the Rutgers University women’s basketball team. He managed the legendary Mike Francesa and Chris Russo. Chernoff brought Boomer Esiason and Craig Carton to the station for a morning show that saw ‘Boomer & Carton’ reach No. 1 in the market during their decade-long run. In a recent Newsday interview, Audacy SVP and New York market manager Chris Oliviero stated, “When people think of WFAN, names like Imus, ‘Mike & The Mad Dog’ or Boomer [Esiason] often come to mind, but no name has been more responsible for the consistent excellence of THE FAN than ‘Chernoff.’”
Cumulus Media and Signal Hill Insights Release Podcast Download – Spring 2021. The sixth Podcast Download report from Cumulus Media and Signal Hill Insights is “a comprehensive evaluation incorporating several studies that examine podcast audience and advertiser trends over the past five years.” This sixth installment was released to coincide with the IAB Podcast Upfront as part of Cumulus Media’s commitment to share insights and research findings with the podcast community. Cumulus Media EVP, marketing and president, Westwood One Suzanne Grimes says, “Our new Podcast Download Report underscores the power of the podcast. Listeners look to podcasts for stories, for entertainment, for learning, and for escape, especially in a year of such upheaval. Audiences soared as listeners experimented with a broader array of content genres and used more distribution platforms than ever to listen to their podcasts.” Some of the findings include the conclusion that the pandemic was a podcast listening accelerant. The study reports that among weekly podcast listeners, the COVID-19 pandemic was a catalyst for increased podcast listening. In March 2021, 53% of weekly listeners reported spending more time with podcasts since the pandemic, up +29% from July 2020 (41%). See more about the study here.
WMT-AM, Cedar Rapids Programmer Randy Lee to Retire. According to a report by KGAN-TV, Cedar Rapids, longtime news/talk WMT-AM, Cedar Rapids program director and on-air personality Randy Lee will retire at the end of this month after a 46-year career in broadcasting. Lee has been the program director at iHeartMedia’s WMT-AM for the past 32 years.
SummitMedia Promotes Tom Scott to Vice President of Engineering. Radio engineer Tom Scott is promoted to vice president/engineering for SummitMedia, LLC. In this role, Scott will manage engineering for all SummitMedia Markets throughout the U.S. SummitMedia CEO Carl Parmer says, “We are delighted for Tom to direct all engineering efforts for SummitMedia. It is certainly a well-deserved promotion. His depth of knowledge and strategic vision will be invaluable to us as we continue to innovate and evolve the technical side of our business.”
TALKERS News Notes. A new weekly podcast from CNN Audio titled, “The Handoff,” and starring CNN anchors Chris Cuomo and Don Lemon debuts later this month. CNN says, “Each night during the primetime hours of CNN’s television programming, viewers witness the deep love, honest candor, and respect that these two anchors – and friends – have for one another in their unscripted ‘handoff’ conversations between shows. Now, with no broadcast clock to hold them back, they are stepping out from behind their anchor desks to come together and ignite even more personal and hot topic conversations. Nothing is off limits.”…..Actor Rainn Wilson and author Reza Aslan are teaming up with Kast Media to serve up their podcast, “Metaphysical Milkshake,” set to debut on June 15. Wilson, known for his Emmy-nominated role as Dwight Schrute on the NBC series “The Office,” and Aslan, author of three internationally best-selling books including bestseller, Zealot: The Life and Times of Jesus of Nazareth, “bring their unique backgrounds, philosophies, and curiosities to create a podcast all about life’s big questions.”…..“The Money Pit Home Improvement Show” – nationally syndicated by Talk Shows USA – adds radio stations KHOB-AM, Hobbs, New Mexico and WGAN-AM /FM, Portland, Maine to it roster of affiliates.
Voting Rights Bill Debate, Cheney vs GOP, COVID-19, Pipeline Hack, Israel-Gaza Fighting, Border Crisis, and Gates Divorce Controversy Among Top News/Talk Stories Yesterday (5/11). The debate in the U.S. Senate over the For the People voting rights act; Liz Cheney addresses the U.S. House as the GOP prepares to strip her of her leadership role for challenging the “stolen election” narrative; COVID-19 vaccine hesitancy in the U.S., mask guidelines, and India’s soaring death toll; the gas shortage in the Eastern U.S. due to the DarkSide pipeline hack; the shelling between Israel and Hamas in Gaza; the migrant crush at the U.S.-Mexico border and the Joe Biden administration’s immigration policy; and the controversy over the Bill and Melinda Gates divorce and the Jeffrey Epstein connection were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
Saga Communications 2021 First Quarter Net Revenue Down 15.5%. The 2021 first quarter financial report from Saga Communications reveals net revenue for the period was $22.3 million, a decrease of 15.5% from the same period in 2020. Net income was $758,000, a decline of 75% from the net income of $1.68 million posted in Q1 of 2020 (although Saga was one of the few audio companies to post income and not a loss). Station operating expense decreased $3.3 million to $18.9 million for the quarter compared to the same period in 2020. Station operating income was $4.7 million for the quarter compared to $5.5 million for the first quarter last year. Free cash flow increased 21.4% to $1.8 million for the quarter. Saga Communication’s balance sheet reflects $56.3 million in cash on hand as of March 31, 2021 and $57.4 million as of May 3, 2021. The company’s total bank debt remained at $10 million as of the end of the first quarter 2021.
KCBS-AM, San Francisco Sports Anchor Steve Bitker Announces Retirement. After 30 years as morning drive sports anchor for Audacy’s KCBS-AM, San Francisco, Steve Bitker is retiring after the May 14 broadcast. After graduating from University of California Berkeley, Bitker served as a news writer for KSFO, San Francisco. He worked in Tokyo for three years as a news/sports anchor for Japan’s only English-language TV station – Japanese Cable Television. After returning to the States, he worked for seven years at KNBR, San Francisco before joining KCBS in April of 1991.
Wendy Bell Off WJAS-AM, Pittsburgh for Now. According to a story by WPXI-TV, talk host Wendy Bell is off the air of St. Barnabas Broadcasting’s WJAS-AM, Pittsburgh and Premiere Networks’ Glenn Beck show is airing in its place. Bell was an anchor at WTAE-TV, Pittsburgh until 2016 when she was let go after making racially insensitive comments in the wake of a shooting that left five dead. She hosted a talk show at KDKA-AM, Pittsburgh and agreed to exit that station after being suspended for suggesting park rangers “shoot on sight” anyone seen defacing park monuments. The story quotes St. Barnabas Health System director of marketing Michele Bradac saying Bell is off the air due to a personnel matter. “Until the company and she resolve their personnel matter, there’s no way to say” when she might return.
Newsmax TV to Launch ‘Cortes & Pellegrino’ Prime Time Show; Produce Town Hall with Florida Governor Ron DeSantis. There’s a new prime-time program launching on Newsmax TV this evening (5/11) at 9:00 pm ET starring former presidential advisor, commentator, and financial expert Steve Cortes and former White House correspondent Jenn Pellegrino. About the new “Cortes & Pellegrino” show, Newsmax CEO Chris Ruddy says, “We were the only major cable news network to see an overall ratings increase from the fourth quarter of 2020 to the first quarter of 2021, and we did it without a full prime-time. ‘Cortes & Pellegrino’ completes our nightly lineup and will continue our unprecedented growth.” Also at Newsmax, “Spicer & Co” co-hosts Sean Spicer and Lyndsay Keith will air an exclusive Town Hall with Florida Governor Ron DeSantis tomorrow (5/12) at 6:00 pm ET. The event takes place at The Villages – the 55-plus community in Sumter County, Florida that boasts almost 80,000 residents – and will feature discussions with a live studio audience of American voters. Sean Spicer says, “Governor DeSantis has proved his resolve and confounded his skeptics over the past year, leading his state to excellence in fostering a thriving economy, rolling out the COVID vaccine, and guarding religious liberty. This Town Hall will give Newsmax viewers deeper insight into the reasons why DeSantis is a true governor of the people.”
TALKERS News Notes. This Memorial Day weekend ABC Audio has the special program “Honor, Hope and Healing,” hosted by correspondent Aaron Katersky, available for affiliate stations. The special honors America’s heroes including military members who died in the line of duty, pandemic front-line workers, grieving families, and others affected by last year’s events. The program dives into the significance of Arlington National Cemetery and features interviews with its regular visitors who come to pay respects to their family and friends…..SiriusXM announces the launch of the “Let’s Get After It with Chris Cuomo Podcast” culled from Cuomo’s SiriusXM show on the P.O.T.U.S. channel that airs daily from 12:00 noon to 2:00 pm. The podcast will be available three times a week and features the opening longform segment from the program as a podcast…..Audacy is partnering with independent podcaster Aaron Lammer on today’s release of the first two episodes of his newest project, “Exit Scam: The Death and Afterlife of Gerald Cotten,” a documentary podcast series exploring the 2018 death of Cotten, the founder of Canadian digital currency platform QuadrigaCx. The first episode is available right now everywhere podcasts are available, while the second episode is available exclusively on Audacy. This unique windowing strategy will allow listeners who want more of this thrilling true crime series to get their fix immediately on Audacy where listeners will get early access to episodes before all other platforms…..Blavity Inc., the diversified digital media company behind “AfroTech,” “21Ninety,” “Travel Noire,” “Shadow and Act,” and “Blavity News,” partners with Charlamagne Tha God’s and iHeartMedia’s The Black Effect Podcast Network to distribute its podcast for Black entrepreneurs and moguls in the making titled, “Black Tech Green Money with Will Lucas.” Lucas is an entrepreneur, content creator, and the brand manager at Black tech digital platform AfroTech, the world’s largest Black tech digital platform. The podcast presents the stories of successful Black entrepreneurs and technologists, as well as actionable advice and wealth-building strategies from a Black perspective…..Audacy’s Cadence13 is partnering with bestselling author, activist, and thought leader Glennon Doyle for her “We Can Do Hard Things,” podcast on which she will share stories of her life and explore topics including love, relationships, parenting, mental health, recovery and more.
COVID-19, Cheney vs GOP/Influence of Trump, Pipeline Hack, Gaza Strikes, Gates Divorce Controversy, Golden Globes Troubles Among Top News/Talk Stories Yesterday (5/10). The rate of positive COVID cases in the U.S., concerns about variants, vaccine hesitancy, and India’s death toll; U.S. Rep. Liz Cheney’s battle with the GOP over the “stolen election” and Donald Trump’s influence over the party; the hack of the Colonial Pipeline Networks by DarkSide and the effect on gas supplies in the Eastern U.S.; the battle between Israel and Hamas over the potential eviction of Palestinians from Jerusalem; the growing controversy over the divorce of Bill and Melinda Gates and the Jeffery Epstein connection; and the Hollywood Foreign Press Association’s Golden Globe Awards lose NBC’s broadcast in 2022 over diversity problems were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
Monday Memo: Was Rush the Format? As the American comeback unfolds, polls demonstrate widespread optimism. “Yet,” consultant Holland Cooke reckons, there’s “a day-after-day negativity, a wearying sameness, among the half-dozen hosts vying for the Rush Limbaugh hours” on his affiliate stations. And in this week’s column, Cooke warns against typecasting the format as political talk: “If we learned one thing during the pandemic shutdown, it’s people’s appetite for ‘survival information.’” Read his column here.
Pending Business: Why Buy? Sales and marketing pro Steve Lapa says that if you ask yourself the question: Why buy advertising on your station, you know the answers to this in your sleep. “Yet why do three different sellers give three different answers? It sounds silly, but even at the best run stations, large market or small, my experience is the answers vary a little too much.” He offers eight questions to ask yourself that will help you formulate the answers to that question: Why buy? Read it here.
Townsquare Media Q1 Net Revenue Down 5.1%; Digital Revenue Up 13%. Reporting its financial data for the first quarter of 2021, Townsquare Media reveals total net revenue was $88.8 million, a decline of 5.1% from the same period in 2020. The company’s net loss shrinks dramatically from $59.5 million in the first quarter of 2020 to $6.1 million in Q1 of 2021. Operating income also did an about-face, shrinking from a loss of $72.1 million in Q1 of 2020 to income of $8.8 million this year. Townsquare Media CEO Bill Wilson says, “We are extremely proud to report that Townsquare’s first quarter 2021 results approached, and in some cases exceeded, levels achieved in the pre-COVID first quarter of 2019, which surpassed our expectations and previously stated guidance. In the first quarter of 2021, net revenue declined -5% year over year, and -1.6% excluding political and Live Events net revenue. When excluding Live Events net revenue, first quarter net revenue increased +0.3% as compared to the first quarter of 2019. Total digital revenue growth accelerated to +13% year over year (+32% vs. Q1 2019), contributing nearly 49% of Townsquare’s total first quarter net revenue. Our digital revenue growth was fueled by Townsquare Interactive, our digital marketing solutions subscription business, Townsquare Ignite, our digital programming advertising platform, and Townsquare Amped, digital advertising on our owned and operated brands, which increased revenue year over year by +15%, +12%, and +11%, respectively. Impressively, TSI, Ignite, and Amped’s first quarter net revenue exceeded Q1 2019 revenue levels by +34%, +45%, and +15%, respectively. Over the next three years, we expect to grow our digital net revenue from $167 million (on a trailing twelve-month basis as of March 31, 2021) to $250 million. The strong growth of our digital revenue, together with our strong expense management, led to Adjusted EBITDA increasing nearly +30% over the prior year. I am especially proud to share that first quarter Adjusted EBITDA of $20.1 million is +$1.3 million, or +7%, higher than Q1 2019’s pro forma Adjusted EBITDA, and +$2.1 million, or +12%, higher when excluding profit from Live Events.”
The Mayor and the Mobster. Nationally syndicated Compass Media Networks talk star Joe “Pags” Pagliarulo scored an amazing one-hour double interview with former NYC Mayor Rudy Giuliani and former high-profile mobster Michael Franzese last week which he ran on Tuesday through Friday (5/4-7) as a four-part special series on his radio show titled, “The Mayor and the Mobster.” Giuliani prosecuted Franzese 40 years ago at a time when the two men were arch enemies. Much has changed since then in terms of their relationship. In a fascinating conversation about the nature of crime fighting, prosecution, and redemption, the two men have more than reconciled their differences as indicated in a wonderful interview conducted brilliantly by Pags. You can watch the entire 56-minute conversation captured on video by clicking here.
Missouri House Passes Bill to Make January 12 ‘Rush Limbaugh Day.’ The Missouri House of Representatives passed a bill last Thursday (5/6) that would make January 12 “Rush Limbaugh Day” in honor of the Cape Girardeau, Missouri native who died in February at age 70. The bill met with opposition from Democratic House members, including Rep. Ashley Bland Manlove who criticized Limbaugh for “constant attacks on Black people and other people of color,” according to a report by the AP. Republican Rep. Sara Walsh, a supporter of the bill, said, “Rush demonstrated courage to speak boldly and encouraged his listeners and viewers to reach for their dreams and to push onward beyond the naysayers and discouragers that we all encounter in life.” The bill must pass the Missouri Senate before it moves on to the governor’s office.
AdLarge and Sounds Profitable Partner for ‘Up Next – A Podcast UpFront.’ Audio ad sales network AdLarge Media partners with podcast ad tech publication Sounds Profitable to launch Up Next – A Podcast UpFront. The companies say that “embracing a ‘never-been-done-before’ concept, Up Next utilizes the podcast format to promote podcasting with two acclaimed industry leaders hosting the series, FRQNCY founder/CEO Michelle Khouri and Edison Research SVP, Tom Webster. The idea originated from a brainstorming session between the leadership team at AdLarge and Sounds Profitable and is NOT an event but rather a podcast series specifically designed to showcase the multiple facets of the podcast industry including publishers, networks, content producers, and more. No special invitation required to listen to the podcasts, they are available to everyone.” In the first season of the Up Next series, AdLarge’s premiere episode focuses on the power of podcast advertising in addition to exploring the intriguing and valuable aspects of the podcasting world. The AdLarge season consists of six episodes, which also includes sample episodes from some of the most favored podcasts in the space today such as: “Crime Junkie,” “Swindled,” “The Hey Girl Podcast,” “The Trip,” and “Kill Me Now with Judy Gold.” AdLarge SVP, head of revenue operations & digital sales Ilwira Marciszek says, “It’s crazy that no one thought of this earlier. We know podcasts get results. This is the perfect way to get in front of people on their own time. I’m beyond thrilled to use the medium we’re selling to showcase the power of podcasting.” You can learn more here.
Broadcasters Foundation of America Seeks Donations to Counter Lost Fundraising Events. The Broadcasters Foundation of America is in need of donations to counter the loss of funds from major fundraising events that were cancelled due to the coronavirus pandemic. A 501(c)3 charity, the BFoA is the only organization dedicated exclusively to providing financial aid to broadcasters and their families whose lives have been upended by debilitating illness, accident, or catastrophe. BFoA chairman Scott Herman says, “In its more than 70 years of existence, the Broadcasters Foundation has provided financial assistance to every broadcaster who qualified, and we want to continue that track record. These men and women are our colleagues, and unthinkable tragedy has left them unable to work. We cannot turn our backs on them.” Cancelled fundraisers for the Broadcasters Foundation include the Celebrity Golf Tournament, the Golden Mike Award, and the Philip J. Lombardo Charity Golf Tournament. Personal and corporate donations can be made here.
COVID-19, GOP vs Cheney, Rising Consumer Goods Prices, Weekend Gun Deaths in U.S., Gas Pipeline Hack, Biden’s Infrastructure Plan, Afghanistan Girls School Bombing, and Arabian Sea Arms Seizure Among Top News/Talk Stories Over the Weekend. The rate of COVID-19 cases in the U.S., vaccine hesitancy, and the outbreak in India; U.S. Rep. Liz Cheney faces losing her GOP leadership role for not carrying the stolen election banner; concerns about the fast-rising prices of gas and consumer goods; the slaying of six at a Colorado Springs birthday party and numerous other gun deaths over the weekend; the hacking of a gas pipeline by Russia-based operatives; President Joe Biden to push his infrastructure plan this week; the bombing at a girls school in Afghanistan that killed 85 people; and the U.S. Navy seizes a large weapons cache in the Arabian Sea were some of the most-talked-about stories on news/talk radio over the weekend, according to ongoing research from TALKERS magazine.
Michael Harrison Animal Welfare Music Video Going Viral on YouTube. The animal welfare anthem “I Know You’re Real” that appears on the new Gunhill Road album What Year Is This! has been picking up an accelerating number of views this past week – approximately 1,400 per day – solely based thus far on radio interviews. The song’s lyrics, penned by Michael Harrison and recited by him on the recording and video, discuss the metaphysical nature of the relationship between humans and animals as well as the connectedness of all sentient life forms to the universe at large. The video, described by talk media host Thom Hartmann as “a masterpiece,” displays a fascinating array of photos and video clips depicting animals – domestic and wild – and cosmic images. Harrison recently became a regular working member of the legendary NYC-based band that has been around since the late 1960s. To book Harrison to appear as a guest talking about animal welfare, cosmic consciousness, and the golden days of FM rock radio, please contact him directly at firstname.lastname@example.org or call Barbara Kurland at TALKERS at 413-565-5413. To view the video, please click here.
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 magazine, is now posted. This new episode titled, “The Knock on the Door,” looks back at this past week of May 3-7. The program features guests (in order of appearance): Kevin Casey, executive editor, TALKERS magazine; Joe “Pags” Pagliarulo, talk show host, Compass Media Networks; Steve Weisman, professor of law, Bentley University, Boston / founder, scamicide.com; Dr. Daliah Wachs, talk show host, Genesis Communications Network; Todd Starnes, talk show host / owner, KWAM, Memphis; Victoria Jones, executive director, DC Radio Company; and Brian Koonin, Broadway musician / member, Gunhill Road. The show airs each week on its flagship, WONK-FM, Washington, DC, Friday evenings at 6:00 pm ET. It also airs throughout the weekend on WTIC, Hartford; KSCO, Santa Cruz, CA; KDFD, Denver; KFNX, Phoenix; WVLY, Wheeling, WV; WTRW-FM, Scranton/Wilkes Barre, PA; WVOX, Westchester, NY; KBDT, Dallas; KQSP, Minneapolis; KBKW, Aberdeen, WA; 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; the Virginia Talk Radio Network; CRN Digital Talk Radio Network; the iHeart Podcast Network; Pioneer Valley Radio, Springfield, MA; Podcast Radio, UK and many more. To listen to this week’s episode, please click here. To view the latest TALKERS magazine 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.
iHeartMedia First Quarter 2021 Net Revenue Down 9.5%. The company reports net revenue for the first quarter of 2021 of $707 million, a dip of 9.5% compare to the $781 million reported in the first quarter of 2020. iHeartMedia also reports an operating loss of $76 million compared to 2020’s operating loss of $1.7 billion. The company reports financial data by segment and the positive aspects of the report are its digital and podcast segments which reported revenue of $119 million (up 55%) and $38.4 million (up 141.9%), respectively. Broadcast radio’s revenue was $358.5 million (down 22.3%); networks revenue was $115 million (down 14.5%); and sponsorship and events revenue was $22.4 million (down 23.7%). iHeartMedia chairman and CEO Bob Pittman states, “The first quarter outperformed our expectations on all financial metrics as the company continues its steady recovery from the COVID-19 downturn, which is not just a continuation of the positive trends we’ve seen across the business – we believe it’s a validation of our long-term multiplatform product and revenue strategy and the investments we have made in growth areas like podcasting, ad tech, and the continued expansion of broadcast radio on digital devices. As a company we continue to prioritize identifying new opportunities across the audio, advertising, and data analytics sectors to expand our Total Addressable Market from just the $15 billion of Radio TAM to include the $160 billion of Digital TAM, providing us with new revenue opportunities for meaningful and sustainable growth for all our operating segments.” Company president, COO and CFO Rich Bressler adds, “Our ability to adapt and innovate, as well as our strategic allocation of capital, during the COVID-19 pandemic have set the stage for strong growth in 2021. Our cost management, investments in key areas of growth, and focus on our core-competencies helped us to achieve Adjusted EBITDA of $102 million in the first quarter, and we remain confident that we will be back to 2019 Adjusted EBITDA levels by the end of 2021.”
Audacy Net Revenue for First Quarter of 2021 Declines 19%. Reporting its first quarterly financial report after rebranding from Entercom to Audacy, the company says net revenue for Q1 of 2021 was $240.8 million, a decrease of 19% over the same period in 2020. Audacy also reports a net loss of $21.6 million compared to the Q1 2020 net loss of $9.1 million. Breaking the company down by segments: local and national spot revenue was $154.3 million (down 27.5%); digital – including podcasting – revenue was $49.9 million (up 15.9%); and network revenue was $17.6 million (down 19.1%). Audacy president and CEO David Field says, “The year has gotten off to an active start as we successfully completed the rebranding of the company to Audacy, reflecting our transformational progress into a leading, multi-platform audio content and entertainment company with scaled audience reach and a leadership position in virtually every key segment of the dynamic and growing audio market. We are in the midst of a strong, albeit uneven, advertising recovery reflecting the nature of our business mix. First quarter digital revenues grew 17% and national revenues rebounded to prior year levels, but local ad revenues remained behind as many of our customers continue to be impacted by the pandemic. Because the local radio advertiser base is weighted toward later-stage recovery categories including restaurants, concerts and entertainment, movies, travel, and theme parks, we anticipate a strong recovery of local advertising across these businesses during the third and fourth quarters. Our second quarter pacings are up more than 60% over 2020 reflecting massive improvements across all segments of our business from the depressed levels of the prior year. In another strong sign of recovery, our average local customer spending levels are now exceeding their average 2019 spending levels. Total local ad spending is down because of a decline in the number of customers with a significant majority of those inactive accounts concentrated in later-stage recovery business categories. During the quarter, we announced and completed the acquisition of Podcorn, the country’s #1 podcast influencer marketplace hosting over 44,000 podcast creators, substantially bolstering our customer product offerings. We also announced a multi-year agreement with BetMGM making them a preferred sports betting partner of the company. We are emerging from the pandemic as a meaningfully stronger and better positioned company with significantly enhanced growth potential and are excited by the opportunities ahead as we continue to drive innovation and development of new products, content, and capabilities.”
Salem Media Group Reports Q1 Revenue Growth of 1.9%. Reporting its financial data for the first quarter of 2021, Salem Media Group, delivers positive numbers as total revenue for the company was $59.4 million, an increase of 1.9% over the same period in 2020. The company reports that total operating expenses decreased 27.9% to $55 million from $76.3 million and operating expenses – excluding gains or losses on the disposition of assets, stock- based compensation expense, changes in the estimated fair value of contingent earn-out consideration, impairments, depreciation expense and amortization expense – decreased 6.2% to $51.4 million from $54.8 million. Salem also reveals operating income of $4.4 million compared to the operating loss of $18 million it posted in the first quarter of 2020. Salem Media Group reports its business segments and says net broadcast revenue was $44 million, a decline of 2.5% compared to the first quarter of 2020; same station net broadcast revenue was $43.9 million, a dip of 1.9%; digital media revenue was $9.6 million, an increase of 5.7%; digital media operating income rose 21.6% to $0.9 million from $0.8 million; and publishing revenue increased 43.4% to $5.7 million from $4.0 million.
‘1010XL’ in Jacksonville Celebrates Alumni Week. Jacksonville sports talk WJXL-AM/FM “1010XL” is taking a look in the rearview mirror next week as it celebrates Alumni Week beginning on Monday (5/10). The Seven Bridges Radio LLC-owned station is bringing back popular hosts of the past, is “re-pairing” hosts who formerly worked together and is taking a journey back through the memories of the station’s first 15 years. Frank Frangie, the station’s afternoon drive host, and Rick Ballou will reunite in afternoon drive for the entire week. The duo handled afternoon drive together for more than seven years beginning in 2009. They also will be joined periodically throughout the week by Jessica Blaylock, a mainstay on the show during much of the time Frangie and Ballou were together. Mike Dempsey, the host of “Jaguars Today,” will be reunited for the entire week with his former co-host, former Jags’ linebacker Tom McManus. Guest during the week include Jeff Lageman, David Garrard, Jason Godbee and Ryan O’halloran. “Helmets and Heels,” the station’s weekly show featuring all-female hosts, will air every night during the week from 6:00 pm to 8:00 pm. Current hosts Lauren Brooks and Donna Murphy, who have been on the show since its inception, will be joined by show regular Taylor Doll as well as former cast members Jessica Blaylock, Blythe Brumleve, Amanda Borges and others. “The Drill,” the station’s morning show, will have interview segments with former co-hosts Jordan DeArmon, Mackenzie Thirkill, as well as Tony Boselli and some surprise guests. Hays Carlyon, currently an afternoon drive co-host, will sit in on “XL Prime Time” with Joe Cowart, Matt Hayes, and Leon Searcy. “XL Prime Time” guests include Chad Scott, Terry Norvelle, Scott Manze and more. While Frangie and Ballou will have segments with Joe Block, Pat Dooley, Amanda Borges, former program director Jason Dixon, and others.
RTDNA Presents Regional Edward R. Murrow Awards. The RTDNA announces the regional winners of the 2021 Edward R. Murrow Awards and bestows more than 750 awards in recognizing more than 350 local radio and television stations. RTDNA chair Andrea Stahlman says, “The regional RTDNA Edward R. Murrow Award recipients we announce today produced extraordinary journalism that brought clarity and context to 2020’s biggest news stories. The winning work demonstrates dedication, determination, and a commitment to the highest ethical standards enshrined in RTDNA’s Code of Ethics.” In a new category for 2021, more than 40 news outlets earned regional Murrow Awards for Excellence in Diversity, Equity, and Inclusion, including examples of bilingual reporting, contextual coverage of inequality and discrimination, and newsroom-convened community discussions. RTDNA executive director and COO Dan Shelley comments, “Local journalists across the country guided Americans through a pandemic, ongoing racial reckoning and a fraught election cycle, despite facing unprecedented operational challenges and an astonishing number of physical attacks during 2020. The persistence of the regional Murrow Award winners we recognize today is a testament to these journalists’ commitment to their First Amendment duty.” See the complete list of winners here.
Edison Research Releases ‘Moms and Media 2021’ Study Results. The results of Edison Research’s “Moms and Media 2021” study have been released and the company says some of the highlights include that 46% of U.S. moms own a smart speaker, up from 33% last year. Sixty-three percent of U.S. moms now use voice-operated personal assistants of any kind, including smart speakers, smart phones, tablets, computers, and other devices. Of those moms who own a smart speaker, they own an average of 2.7 of the devices. Edison Research vice president Melissa DeCesare says, “The past year during COVID has been about adjustment, especially for moms. The pandemic uprooted everything we knew and were familiar with and it forced a new at-home lifestyle for the entire family. Moms are tasked with keeping it all on track and they do it with help from modern technology. Our 2021 report shows that moms have not only maintained their commitment to devices and mobile tendencies, but they’ve actually adjusted their habits to better suit their needs during the pandemic.” Other noteworthy data include: More moms are consuming online audio with 82% of U.S. moms being monthly online audio listeners compared with 76% in 2020, and 76% of U.S. moms being weekly online audio listeners compared with 70% in 2020; and more moms are listening to podcasts with 64% of U.S. moms having ever listened to a podcast (up from 57% in 2020) – 40% having listened in the last month and 28% having listened in the last week. See more about the study here.
TALKERS News Notes. After nearly three years of hosting and producing “Bagels and Broadway with Valerie Smaldone” on WNYM, New York “AM 970 The Answer,” Smaldone says she’s ending the radio edition of the food and theatre-themed program but will continue the show as a podcast this fall when Broadway reopens. Smaldone recently began a new position as executive vice president and producer at multiplatform content company Audio Drama Initiative…..PodcastOne announces a multi-year first look deal with Picture Perfect Federation, the joint venture between Picture Perfect Entertainment and Federation Entertainment led by Patrick Wachsberger, for the development of scripted serial podcast content. Under the development deal, Wachsberger and his team will introduce scripted content across multiple genres with an eye to package the resulting audio IP for television, film, and streaming platforms. PodcastOne president Kit Gray says, “Patrick and his team are true professionals with unparalleled success in the movie, television and scripted world. The partnership with PodcastOne will complement their expertise with over 10 years of experience in the audio space developing weekly interview styles and successful scripted programming. Together, we are going to supercharge our story telling and fan development capabilities to create a slate of programs that will be exciting for audiences, advertisers and production houses looking to be involved with our amazing IP.”…..Advertising mogul and veteran TV personality, Donny Deutsch is teaming up with Kast Media to launch his first-ever podcast titled, “On Brand with Donny Deutsch,” on May 13. Deutsch has hosted television shows such as CNBC’s long running series, “The Big Idea with Donny Deutsch” and MSNBC’s “Saturday Night Politics.”…..Alpha Media Canton announces that news/talk WHBC-AM is the new home of “Tangled Up In Blues with Cornel Bogdan.” Bogdan’s show first aired in September 2000 in Youngstown. He says, “When I started ‘Tangled Up In Blues’ over 20 years ago, I had no idea it would be so greatly accepted. It’s very humbling. My listeners are passionate about this music like no other. WHBC is a cornerstone in Canton. I wanted to be part of that heritage. ‘Tangled Up In Blues’ on WHBC is really good mojo!”…..“The Motley Fool” radio show host Chris Hill is the narrator of the audio book edition of Morgan Housel’s The Psychology of Money (2021 Harriman House) that is enjoying having just hit the milestone of 100,000 audiobook sales.
COVID-19 Top News/Talk Story for Week of May 3-7. The COVID-19-related issues including vaccines, variants, politics, the soaring death toll in India, and statistics combined as the most-talked-about story on news/talk radio this week, landing atop the Talkers TenTM. At #2 this week was Facebook’s Oversight Board keeping Donald Trump’s page suspended and the broader issue of censorship, followed by party politics and Liz Cheney’s battle for her status in the GOP 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.
Saga Communications Q1 Net Revenue Down 15.5%. Reporting its financial data for the first quarter of 2021, Saga Communications announces net revenue for the period was $22.3 million, a decline of 15.5% from the $26.1 million reported in Q1 of 2020. Station operating expense decreased $3.3 million to $18.9 million for the quarter compared to the same period last year. Station operating income was $4.7 million, down from the $5.5 million reported in the first quarter 0f 2020. Free cash flow increased 21.4% to $1.8 million for the quarter. Saga Communications reports net income of $758,000 in the first quarter, compared to $1.7 million in Q1 2020. The company’s balance sheet reflects $56.3 million in cash on hand as of March 31, 2021 and $57.4 million as of May 3, 2021. Saga’s total bank debt remained at $10 million as of the end of the first quarter 2021. Capital expenditures in the first quarter were $534,000 compared to $1 million for the same period last year. Saga expects to spend approximately $4.5 – $5.5 million for capital expenditures during 2021.
Nielsen Q1 Revenue Up 2.5%. Ratings and analytics giant Nielsen Holdings plc reveals its financial results for the first quarter of this year and revenue was $863 million, an increase of 2.5% on a reported basis. Nielsen notes that these results reflect the March 5, 2021 sale of the Global Connect business (consumer data) for $2.4 billion in net proceeds, which resulted in a $542 million preliminary gain on sale, net of taxes, recognized in the quarter. Of the net proceeds, $2.28 billion were used for debt reduction in March and April 2021. Beginning in the first quarter of 2021, Global Connect results were reclassified to discontinued operations for all periods presented. Nielsen CEO David Kenny comments, “We delivered a solid first quarter, as our teams executed incredibly well. We closed on the sale of Global Connect in March and are now singularly focused as the global essential data, measurement, and analytics provider for the entire media ecosystem. We are investing in our future and we are well-positioned to drive new growth from new solutions across all of our end markets globally. In particular, we are pleased with the advances we’ve made in Audience Measurement, Outcomes and Gracenote Content Services. We are executing as planned and we are increasing key elements of our 2021 guidance.”
FOX Corp Acquires Clay Travis’ Outkick. Yesterday (5/5), FOX Corporation announced an agreement via its subsidiary to acquire Outkick Media, LLC, the digital media platform founded and led by Clay Travis, and related assets. FOX says, “Outkick is an omnichannel leader in sports, opinion, politics, and pop culture content across its radio, podcasts, online and social outlets, as well as being one of the foremost sources of sports wagering information in the United States. Further, Outkick is in an exclusive marketing agreement with FOX’s partner FanDuel and serves as a significant source of sports wagering referrals.” FOX Corp executive chairman and CEO Lachlan Murdoch comments, “As FOX further diversifies our growing digital portfolio and broadens our position in the sports wagering ecosystem, there could be no better acquisition than Outkick. Clay and his team have quickly made Outkick a content powerhouse with a very large, loyal and engaged audience. We expect the synergies presented across FOX’s existing portfolio of assets will turbocharge this exciting business.” Travis adds, “Outkick has grown out of my passion for producing bold, well-informed, and entertaining content about sports, current events and, more recently, sports wagering. With the power of FOX behind us, we look forward to maintaining Outkick’s unwavering commitment to that mission, as well as further accelerating the growth of our audience, and continued leadership in the sports wagering affiliate category.” Clay Travis will remain integrally involved at Outkick and serve as its president. The price of the acquisition has not be announced.
Dr. Laura’s ‘Call of the Day’ Hits 100 Million Download Mark. The “Call of the Day” podcast from Dr. Laura Schlessinger has reached the 100 million-downloads mark. The podcast is a feature that’s taken from Dr. Laura’s daily SiriusXM talk show in which she features a call she designates as the best from each day’s show. The “Call of the Day” podcast was launched in 2017 and has consistently ranked #1 in Parenting on Apple Podcasts, is top ranked in Kids and Family, and is among podcasting’s Global 200 according to Chartable. Dan Brady, director of podcast operations and program audio content for Take On The Day LLC, says, “We set forth to make this podcast a new avenue to hear Dr. Laura. It turns out we made it one of the most popular focusing on families and parenting. Take On The Day LLC president Geoff Rich adds, “In addition to its popularity with listeners old and new, Dr. Laura’s ‘Call of the Day’ has proven to be a great opportunity for advertisers who want to reach the desirable demographic of women 25-54. It’s been a win-win for everyone.”
Todd Starnes Is This Week’s Guest on Harrison Podcast. Entrepreneur, syndicated talk show host, radio station owner, author, columnist, and conservative/evangelical thought-leader Todd Starnes is this week’s guest on the award-winning PodcastOne series, “The Michael Harrison Interview.” After working as a radio news reporter and news columnist for a number of years, this colorful and controversial personality began hosting a syndicated talk radio show on FOX News Radio in 2017. In 2019, he moved on from FOX, launching his own independent syndicated show which just recently cracked the 100-affiliate milestone. In January 2020, he significantly expanded his media empire by purchasing Memphis talk station 990 AM KWAM which now serves as the flagship for his growing radio show and political/industry influence. To listen to the podcast in its entirety, please click here.
Report: Future of Centennial’s WINC-AM, Winchester, Virginia Uncertain. A story in the Winchester Star shines a light on the status of Centennial Broadcasting II’s Winchester, Virginia news/talk outlet WINC-AM. Company CEO Allen Shaw tells the paper that WINC-AM “hasn’t had great financial success” lately and that the death of Rush Limbaugh has added to the station’s woes. Shaw tells the Wincester Star that his company is selling WINC-FM and WZFC-FM, to Fairfax, Virginia-based Metro Radio Inc. for $225,000 and that Centennial offered WINC-AM as well “practically for nothing” but Metro didn’t want it. If Centennial can’t sell WINC-AM, it would consider donating it to a college or a religious group before it would take the station dark.
COVID-19, Trump vs Liz Cheney/Future of GOP, Facebook Trump Ruling, Giuliani Investigation, Border Crisis, Newsom Recall/Jenner Run, and Peloton Recall Among Top News/Talk Stories Yesterday (5/5). The rate of COVID cases in the U.S., the move to waive COVID vaccine patents, and the soaring death rate in India; Donald Trump’s orchestration of U.S. Rep. Liz Cheney’s fall from power in the House and the future of the GOP; Facebook keeps Trump account suspended but allows for further review; the FBI’s investigation into Rudy Giuliani and the mainstream media’s reporting errors; the crush of migrants at the U.S.-Mexico border and the Joe Biden administration’s immigration policy; the recall of California Governor Gavin Newsom and Caitlyn Jenner’s plan to run for the office; and Peloton recalls all of its treadmills after numerous accidents and one death were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.