Tag: "net revenue"
Cumulus Media Q2 2021 Net Revenue Rises 54%. Reporting its financial data for the second quarter of 2021, Cumulus Media says net revenue was $224.7 million, an increase of 53.9% from the same period in 2020. During the second quarter of 2020, Cumulus posted a net loss of $36.3 million. That loss shrank almost 84% to $5.8 million in the second quarter of 2021. Cumulus Media president and CEO Mary G. Berner says, “This quarter’s results clearly reflect the success we are having in accelerating our positive revenue trajectory. In addition to the continued improvement in the core radio business, total digital revenue grew by 55% year-over-year, with each of our digital channels posting new all-time highs. Additionally, we enhanced our considerable stronghold in the news/talk ecosystem with ‘The Dan Bongino Show,’ now on over 300 radio stations – the largest launch ever for a new and original syndication. We also significantly deepened our position in the fast-growing sports betting space with an innovative and expansive multi-year, multi-platform marketing and content partnership with WynnBET, which is poised to become one of our largest clients through this new relationship.” Cumulus breaks down its revenue into Broadcast and Digital segments. The Broadcast segment is further divided into Spot and Network (Westwood One) divisions. For the second quarter of 2021, Spot revenue was $120.8 million – up 67% from Q2 of 2020 – and Networks revenue was $55.3 million – up 32.5% from Q2 of 2020. Digital segment revenue was $31.4 million, an increase of 54.5% compared to the same period in 2020.
CMG Promotes Kris Hackett to Director of Sales for Atlanta Cluster. Radio sales pro Kris Hackett is promoted from general sales manager to director of sales for Cox Media Group’s Atlanta station group that includes news/talk WSB-AM/WSBB-FM and three music-formatted outlets. In this new and expanded role, Hackett will be responsible for the oversight of all multimedia sales efforts for CMG Atlanta’s radio cluster. Hackett joined CMG Atlanta in 2013 as GSM. Prior to that, she spent seven years as GSM for the company in Richmond. Cox Media Group VP and market manager Jaleigh Long says, “Kris is a proven leader with a keen ability to grow market share, deliver enhanced revenues and develop high caliber sales teams while building relationships with key partners that fit perfectly with our customer-centric sales culture. I’m thrilled to have such a visionary and talented leader inside CMG to promote into this critical role.”
TALKERS News Notes. Chicago media writer Robert Feder reports that WBBM-AM/WFCS-FM weekend news anchor Dave Marsett is retiring from the Audacy station after 20 years. Marsett is also an ordained minister and he’s retiring from that calling as well. The 74-year-old radio pro served with Satellite Music Network as news director for many years prior to joining WBBM…..Cumulus Media and Imperative Entertainment announce the new true-crime series “Fox Hunter” joins the Cumulus Podcast Network. Host Sean Kipe investigates the mystery surrounding the murder of 18-year-old Rhonda Sue Coleman in 1990 which has been a thorn in the side of the small community of Hazlehurst, Georgia, for over 30 years…..The content creators at New Hampshire Public Radio have voted to form a union and are being represented by SAG-AFTRA. NHPR is an NPR member station based in Concord, New Hampshire and covers nearly the entire state, as well as portions of Massachusetts, Vermont and Maine. The new 31-member bargaining unit of content creators includes producers, hosts, editors and reporters…..Pictured below are WBZ-FM, Boston “98.5 The Sports Hub” air personalities Hardy, a.k.a. Rob Poole, Scott Zolak, and Marc Bertrand broadcasting live from Gillette Stadium for the start of the New England Patriots’ training camp. WBZ-FM is the flagship station for broadcasts of Patriots football games and Bob Socci and Zolak will once again call all preseason and regular season games. The duo will also get back on the road this season, traveling to each away game broadcast.
Former KYW, Philadelphia Reporter Ed Kasuba Dies at 74. The Philadelphia Inquirer reports that former KYW, Philadelphia reporter Ed Kasuba died on August 1 of heart failure at the age of 74. Kasuba was the longtime South Jersey bureau chief for the station. He retired from the all-news outlet in 2008 at a time when the Great Recession was forcing then-owner CBS Radio to make cuts. He served as a shop steward and president of the local chapter of the American Federation of Television and Radio Artists and left the radio station voluntarily so others would not be laid off during company cutbacks.
COVID-19 Delta Variant and Masks, Biden’s Eviction Moratorium, Cuomo Allegations, Pentagon Officer Slain, January 6 Investigation, Infrastructure Bill, and Olympics Among Top News/Talk Stories Yesterday (8/3). The fast-rising rate of COVID-19 Delta variant cases in some parts of the U.S. and the battle over vaccination mandates and mask policies; President Joe Biden extends the eviction moratorium and critics question its legality; the numerous allegations of sexual improprieties against New York Governor Andrew Cuomo and calls for his resignation; a Pentagon officer is slain by an attacker; the committee investigating the January 6 attack on the U.S. Capitol; the bi-partisan $1 trillion infrastructure bill; and Simone Biles wins bronze in the balance beam at the Tokyo Olympics were some of the most-talked-about stories on news/talk radio yesterday according to ongoing research from TALKERS magazine.
Townsquare Media 2021 Second Quarter Net Revenue Up 45%. The company releases financial data for the second quarter of 2021 and reports net revenue was $107.3 million, an increase of 45% over the same period in 2020. Townsquare Media says it achieved 99.4% of Q2 2019’s net revenue when excluding Live Events net revenue. Total digital revenue growth was up 36% year over year and contributed approximately 47% of the company’s total net revenue in the first six months of 2021. Townsquare CEO Bill Wilson says, “Over the next three years, we expect double-digit digital net revenue growth to continue, fueling the growth of our digital platform from $180 million of revenue (on a trailing twelve-month basis as of June 30, 2021) to $250 million. Most impressively, I am extremely proud to report that Townsquare’s second quarter Adjusted EBITDA of $30.3 million not only exceeded our expectations, our previously stated guidance, and 2019 levels (+1% vs. Q2 2019), but it was also the highest Adjusted EBITDA generated in any single quarter in Townsquare’s history. To accomplish this strong result only one year after the start of the pandemic is a testament to the strength of the Townsquare team, our digital platform and solutions for local businesses, and our careful expense management efforts.” Wilson adds, “As a Digital First Company, our digital revenue and profit growth has accelerated, driving the diversification of our business, total company growth and separation from our local competition. I am incredibly optimistic about Townsquare’s future, and very proud that we are on the path to achieving 2019’s Adjusted EBITDA in 2021, on the verge of a full revenue recovery in 2021, and plan on delivering strong revenue and profit growth in 2022.” Townsquare reports in three segments: Townsquare Interactive – its digital marketing solutions subscription business; Advertising – including broadcast and digital advertising products and solutions; and Live Events – including concerts, expositions and other experiential events. Advertising net revenue for Q2 of this year was $85.9 million, an increase of 50.4% over the same period in 2020. The company also reports net income of $10.1 million compared to the net loss of $28.9 million it posted during the same period a year ago. As of June 30, 2021, Townsquare had a total of $25.1 million of cash and cash equivalents and $550 million of outstanding indebtedness.
Jeff Rickard Named Brand Manager for WEEI, Boston; Ken Laird Promoted to Assistant Brand Manager. Boston sports talk outlet WEEI announces that Jeff Rickard is joining the station as brand manager, effective August 11. Audacy says that in this role, Rickard will oversee content operations for WEEI-FM and the WEEI radio network that spans the New England region. Rickard was most recently PD and morning host at Emmis Communications’ WFNI-AM, Indianapolis. During his career, Rickard spent almost 10 years in Bristol, Connecticut hosting ESPN Radio’s “Gamenight” program and served with Comcast as managing editor and anchor of the Boston-based “Out of Bounds Latenight” show. Rickard has also hosted shows regularly for numerous SiriusXM channels including: NFL Radio, ESPNU, MLB Network Radio, and Mad Dog Sports Radio. He has served as the host of NFL Radio’s “The Sunday Kickoff” during the NFL season for the past five years and is the host of “College Football Overtime” on ESPNU. He says, “Having worked in sports radio for virtually my entire career, I am thrilled to join the team at WEEI. Its rich history is well documented as is the unmatched passion of the Boston sports fan. I’m looking forward to pairing this talented team with fresh, new ideas to both reflect and match that passion.” At the same time, WEEI executive producer Ken Laird is being promoted to assistant brand manager. He’ll continue his role as update anchor and executive producer of the morning drive “Greg Hill Show.”
Ramsey Network Unveils New Podcast, ‘The Fine Print.’ The newest podcast from Ramsey Network is a show that shines a spotlight on the deceptive methods companies, marketers and scammers use to influence money decisions. ‘The Fine Print’ is hosted by Ramsey personality George Kamel and is “a bi-weekly show featuring interviews with experts and industry insiders about the money traps and trends keeping people broke.” Ramsey Solutions CEO and “The Ramsey Show” host Dave Ramsey says, “For 30 years, I’ve heard the pain in people’s voices when they call into the radio show because of a money trap that’s left them in a world of hurt. What if we could prevent that pain by empowering people to avoid the trap in the first place? That’s what ‘The Fine Print’ does. George educates listeners to recognize and steer clear of money minefields so they can be the heroes of their own stories.” Episodes of the podcast include: How TurboTax Is Screwing You; Could Bitcoin Be Your Ticket To Wealth?; The True Cost of Credit Card Rewards; The Dirty Truth Behind Your Credit Score; and How the Robinhood App Steals from the Rich AND the Poor. Find out more here.
LiveXLive and PodcastOne Announces Podcast Competition. This competition is called “Self Made Podcast Edition” and is “an audio competition to find the next big podcast star for PodcastOne.” The company says the competition will be driven by fans and PodcastOne’s panel of judges, as they listen to see who will take the top prize, a podcasting contract with PodcastOne and a total package worth over $100,000 including promotion across the network which features a roster of celebrity podcasters, including Adam Carolla, Kaitlyn Bristowe, Barbara Schroeder, Michael Irvin, and Jordan Harbinger.” The contest kicks off today (8/3) and is open to amateur podcasters only. The winner of “Self Made Podcast Edition” will be crowned on September 30, 2021 – International Podcast Day. PodcastOne president Kit Gray says, “There are so many wonderfully creative and innovative podcasters out there. We’re excited to be able to offer someone the opportunity to make their dreams of becoming a self-made podcast host come true.” Learn more here.
SiriusXM to Unveil Lucille Ball’s ‘Lost’ Radio Show on New Channel. The legendary comedienne is the star of the new SiriusXM channel called, “Let’s Talk to Lucy,” named after her 1960s CBS Radio program. SiriusXM says, “In between starring in four television series and more than 70 films, Lucy would frequently jump from set to set, tape recorder in hand, and talk about all aspects of life with some of the biggest names in Hollywood history, including Bing Crosby, Bob Hope, Dean Martin, Carol Burnett, Frank Sinatra, Barbra Streisand, and dozens more. These recordings eventually made it onto air when CBS Radio broadcast them as ‘Let’s Talk to Lucy’ from 1964-1965. However, for the last 50-plus years they’ve never been heard publicly again – until now.” Ball’s daughter Lucy Arnaz says, “Although I have been care-taking these ancient tapes for over 30 years, I had never really listened to them all and had no idea how many remarkable people Mom had talked to on these radio shows. It’s a treasure trove of personal information from some of the greatest talents of American entertainment and my family and I can’t wait to share them with the rest of the planet.”
TALKERS News Notes. Tomorrow evening (8/4), a debate among a number of the candidates running to replace California Governor Gavin Newsom in the September 14 recall election will will take place and Salem Radio Network is distributing the event nationally. It’s taking place from 9:00 pm to 10:30 pm ET at the Richard Nixon Presidential Library and Museum in Yorba Linda, California. SRN host Hugh Hewitt – who serves as president of the Richard Nixon Foundation – will moderate the debate along with panelists Christine Devine and Elex Michaelson of KTTV-TV, Los Angeles “FOX 11 News” and former U.S. National Security Adviser Ambassador Robert C. O’Brien. Special radio coverage will be anchored by KRLA, Los Angeles morning host Jennifer Horn and KRLA news anchor Larry Marino. SRN host and candidate Larry Elder is declining to take part saying his goal is “defeating Gavin Newsom not appearing in a circular firing squad with other Republicans.”…..Westwood One is expanding the role of sports media pro Rich Eisen within the network to include pregame and halftime hosting duties for “Monday Night Football on Westwood One.” The Monday night schedule kicks off on September 13, when the Baltimore Ravens visit the Las Vegas Raiders and concludes on January 3, 2022, when the Cleveland Browns battle the Pittsburgh Steelers. Eisen says, “‘Monday Night Football on Westwood One’ is one of the greatest hosting gigs in broadcasting and I’m honored to have the seat. The fact that I can expand my partnership with Westwood One beyond my daily show and podcast platform by talking even more football thrills me to no end.”…..The application window for programming candidates interested in applying to the “Elevating Women in Audio: MIW & BDSradio Mentorship” is being extended through Tuesday, August 10. The “Elevating Women in Audio: MIW & BDSradio Mentorship” program is a year-long experience for women in music programming, provided by Mentoring and Inspiring Women in Radio and MRC Data (formerly Nielsen Music). Personalized conversations with the best programming minds in the business are geared to help advance a career within the radio/audio industry. Additionally, the mentee receives a scholarship to attend Radio Show 2021 this October in Las Vegas. The mentorship is available to one female brand manager, content/program director, assistant program director, and/or music director from any U.S. based music format. To apply, click here…..The popular finance and investing podcast “Pennies: Going in Raw,” hosted by Hugh Henne and Dan, the Deity of Dips, is now a part of the iHeartPodcast Network. iHeartMedia says, “With more than 2.3 million downloads, the podcast takes an exciting and informative spin on stock market topics like day trading strategies, volume, price targets, penny stocks, accumulation, reverse splits and much more. The show also features a range of guests from young, successful traders to the leaders of multi-billion-dollar companies, such as Netflix co-founder Marc Randolph, and CEO and founder of Hims, Andrew Dudman…..Today through Thursday, WHO, Des Moines afternoon drive talk host Simon Conway (left) is pulling double duty as he fills in for Joe “Pags” Pagliarulo (right) on his Compass Media Networks nationally syndicated program. Conway’s WHO show is also heard on iHeartMedia’s WMT, Cedar Rapids and WOC, Davenport, Iowa…..iHeartMedia Pittsburgh’s Steelers Radio Network announces changes to its broadcast team. As part of the changes, Craig Wolfley, a former Steelers offensive lineman who has served as a sideline analyst on the Steelers game day broadcast since 2002, will join play-by-play announcer Bill Hillgrove in the broadcast booth as color analyst. Wolfley takes over for Tunch Ilkin, who retired after 23 seasons in the booth. Former Steelers offensive lineman Max Starks is joining Missi Matthews for sideline reports. He recently served as a sideline reporter for Westwood One. Starks will also join Wolfley as co-host of “In The Locker Room, Presented By Neighborhood Ford Store,” a daily, in-season radio program airing on Steelers Nation Radio.
COVID-19 Delta Variant and Masks, Eviction Ban Expires, January 6 Investigation, Voting Rights, Southern Border Policy, Infrastructure Bill, and Olympics Among Top News/Talk Stories Yesterday (8/2). The rising rate of COVID-19 Delta variant cases in the U.S. and abroad and the issue of mask mandates; the White House puts the onus on states as the federal ban on evictions expires; the investigation into the January 6 Capitol attack and the suicide of Capitol police officer Kyle DeFreytag; today’s planned DC rally supporting the For the People voting rights bill; the Biden administration continues the Trump administration policy of deporting illegal migrants; the $1 trillion bi-partisan infrastructure bill; and Simone Biles returns to the Olympics to win bronze in the balance beam were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.