Industry News

Gunhill Road Releases Special Tribute Song in Advance of World Radio Day 2024

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Gunhill Road, the enduring band that has been making multi-genre rock and pop music spanning more than five decades, has released a brand-new song and video titled, “Over The Radio Waves,” just in time for World Radio Day 2024 (February 13). The song is a heartfelt tribute to the continuing influence of radio around the world and calls for broadcasters and listeners alike “to all stand together” in celebrating the 13th annual edition of the United Nations/UNESCO-designated international day. Gunhill Road has developed a unique niche in recent years along with tens of thousands of internet followers powered in large part to the attention and airplay given it by talk radio as a result of the group addressing topics of news and social concern in a highly musical and creative way. The band consists of co-founding member/pianist Steve Goldrich, longtime guitarist/vocalist Paul Reisch, noted Broadway theater instrumentalist/guitarist/vocalist Brian Koonin, and TALKERS publisher/vocalist Michael Harrison who performs a rap segment on the song. Radio broadcasters are encouraged to play the two-minute recording license-free during the 11 days leading up to World Radio Day. Download an audio file of “Over The Radio Waves” here. See the accompanying music video here. To arrange an interview with Michael Harrison, please email info@talkers.com.

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Industry News

Beasley Reports Q4 2022 Revenue Up 1.8%

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.”

Advice

Monday Memo: #NABShowNY

By Holland Cooke
Consultant

 

NEW YORK — Lots of long-time-no-see hugs among 9,500 of us at the Javits Center as the National Association of Broadcasters resumed its October event – like much of life, interrupted by COVID – and increasingly pertinent to radio.

Though long-timers long for the days when the exhibit hall was populated by jingle gypsies, Hiney Wine, and bumpersticker and T-shirt vendors, we now find the teleprompters and studio lighting and cloud software that are becoming tools of the trade for radio broadcasters who leverage their transmitter brand to take content (and advertisers) everywhere consumers consume us.

(more…)

Advice

Monday Memo: #NABShowNY

By Holland Cooke
Consultant

 

NEW YORK — Lots of long-time-no-see hugs among 9,500 of us at the Javits Center as the National Association of Broadcasters resumed its October event – like much of life, interrupted by COVID – and increasingly pertinent to radio.

Though long-timers long for the days when the exhibit hall was populated by jingle gypsies, Hiney Wine, and bumpersticker and T-shirt vendors, we now find the teleprompters and studio lighting and cloud software that are becoming tools of the trade for radio broadcasters who leverage their transmitter brand to take content (and advertisers) everywhere consumers consume us.

(more…)