Tag: "Ramsey Solutions"
Monday, May 9, 2022
Pending Business: Howdy Partner. Radio sales pro Steve Lapa writes today about the strange use of the word “partner” for the advertiser on a radio program. Lapa says, “Do our advertisers (customers) really want a partnership in the true sense of the word? Or do our advertisers want what everyone else wants: maximum value at the best price?” Aside from the inaccurate nomenclature, Lapa wonders if the “partner” designation affects the sales effort. Read his column here.
Monday Memo: “Gas cards? OR…Bitcoin?” “Imagine asking a contest winner to choose THAT?” consultant Holland Cooke asks. In this week’s column, he recalls “when radio stunts were fun,” and how a contest “will sound as big as you make it sound.” Read more here.
Audacy First Quarter Net Revenue Up 14%. For the first quarter of 2022, Audacy reports net revenue of $275.3 million, an increase of 14% over the same period in 2021. The company also saw its net loss shrink from $21.6 million in the first quarter of 2021 to $11 million in Q 1 of this year. Audacy provides financial data by segment and reports that spot revenue (national and local) was $173.9 million, while its digital segment (including podcasting) rose 16% to $53 million from the $41.6 million reported in the first quarter of 2021. Audacy also breaks down net revenue by format type and reports music radio revenue was $140.4 million; sports radio revenue was $53 million; and all-news & news/talk revenue was $48.3 million. Audacy president and CEO David Field comments, “I am pleased to report that Audacy posted strong first quarter results, delivering 152% growth in Adjusted EBITDA led by double digit revenue growth in both digital and spot radio. With our scaled, leadership position across broadcasting, podcasting and digital audio and our differentiated premium content offerings, we are well positioned to drive rapid evolution and innovation across the organization to capitalize on the outstanding growth opportunities in the dynamic audio marketplace. In Q1, we launched the Audacy Digital Audience Network, an addressable aggregate of 60 million listeners across our app, streaming content, and podcast lineup, enabling precision targeting at scale coupled with real-time optimization and reporting. We are looking forward to a number of exciting additional product and content launches and enhancements over the course of 2022 that will accelerate our audience growth and bolster our advertiser appeal.”
Beasley Broadcast Group Reports Q1 Net Revenue Increase of 15.6%. Reporting its financial data for the first quarter of 2022, Beasley Broadcast Group – parent company of Beasley Media Group – states that net revenue was $55.7 million, an increase of 15.6% over the same period in 2021. The company is also reporting an operating loss of $2.7 million in Q1 compared to an operating loss of $2.5 million in the first quarter of 2021. The increase in operating loss is primarily the result of an increase in operating expenses, which reflects additional cost of sales related to the revenue increase, other expenses related to sports and marketing, and additional expenses related to the company’s digital agency build out. Beasley’s net loss for the quarter fell to $3.7 million compared to the net loss of $10.7 million reported for the same period a year ago. Beasley CEO Caroline Beasley states, “First quarter results highlight ongoing progress toward our goal of returning all of our revenue sources to pre-pandemic levels. Net revenue rose 15.6% inclusive of a 35.5% rise in digital segment revenue, which accounted for 14% of total net revenue in the quarter, marking further success of our digital transformation strategies. Comparing our revenue performance to the first quarter of 2019, revenue was down $2.0 million, or 3.4%, as the 2019 results benefited from events and other revenue that has not fully recovered from the effects of the COVID-19 pandemic. Total outstanding debt as of March 31, 2022 was $300 million, as we did not have any scheduled debt payments during the quarter, and we had $50.7 million of cash and cash equivalents on hand at quarter end. We made an interest payment of approximately $12.9 million in February and repurchased $5 million of our 8.625% senior secured notes at a discount early in the second quarter. Our strong liquidity position enables us to make debt repayments while providing us with increased financial flexibility to pursue a potential acquisition or investment within the digital space, should an opportunity arise that could accelerate our digital growth, provide synergies or improve financial results. Looking ahead to the second quarter and second half of 2022, our focus remains on driving further revenue diversification and audience expansion, improving margins, benefiting from the return of the political cycle, maintaining a strong and flexible balance sheet, reducing net leverage and growing free cash flow. We expect progress on each of these fronts as we continue to close the gap on our pre-pandemic revenue and SOI levels and grow from there. I am extremely proud of our team members across the company for everything they have done and are doing to help us move past the challenges presented by the pandemic. We have clearly accomplished a lot and I believe we have many more opportunities ahead to build the company and enhance stockholder value.”
Ramsey Solutions Wins Webby Award for Borrowed Future Documentary. The documentary film Borrowed Future – produced by Ramsey Solutions – will be recognized as the Best Video Documentary in the Longform category of the 2022 Annual Webby Awards. Known as the “best of the Internet,” the Webby Awards are presented by the International Academy of Digital Arts and Sciences, the leading international awards organization honoring excellence on the Internet. Borrowed Future was originally released as a podcast in 2019 and reveals the inner workings of the predatory student loan industry that keeps borrowers trapped in debt. Directed by David DiCicco, the story follows college graduates who owe between $9,000 and $1 million in student loans, a college graduate who paid cash for college, and a group of high schoolers who haven’t made their choice yet. Leading voices like Mike Rowe, Seth Godin and Dave Ramsey are also featured. For weeks, the film held top spots on multiple streaming platform charts: #1 documentary on Google Play, #2 documentary on Apple TV and #5 documentary (rent or buy category) on Amazon Prime Video. Dave Ramsey says, “There’s no doubt we stirred up a holy ruckus with this documentary, and I’m so proud of the team that put it together. The student loan industry is downright evil. We definitely can’t bank on student loan forgiveness, and it’s about time America said, ‘I’ve had it!’” Webby Awards executive director Claire Graves comments, “Borrowed Future has set the standard for innovation and creativity on the Internet. This award is a testament to the skill, ingenuity, and vision of its creators.” The 26th Annual Webby Awards will take place in New York City on May 16. See more about the film here.
Brandon Tatum Joins Salem Radio Network for Syndicated Radio Program. Conservative media figure and former Tucson police officer Brandon Tatum is joining the Salem Radio Network to fill the slot Larry Elder held until his retirement from radio in early April. He will assume duties as host of the 6:00 pm to 9:00 pm ET program on May 16. The third hour of the program will be repurposed into a podcast. Salem SVP of spoken word Phil Boyce says, “Salem conducted a nationwide search, and some very big names were interested in taking this important slot. Brandon brings a unique talent to Salem, and has a strong following among the nation’s youth, with his involvement with Turning Point USA. His compelling story is riveting.” Tatum has been serving as director of
urban outreach for Turning Point USA and hosts the popular program “The Officer Tatum Show” on social media platforms including YouTube. Tatum says, “Words cannot describe what a blessing it is to be a part of the Salem family. I am incredibly humbled and honored to continue the legacy of the great Larry Elder. My mission in life is to serve God with the gifts he has given me. Being the voice of and for the people is one of those gifts.” Additionally, Tatum co-founded Blexit with Candace Owens, an organization “dedicated to changing the narrative in the black community through education, community outreach, and empowerment.” Carl Jackson, who has been subbing as guest host in Elder’s absence both last summer when he ran for governor, and more recently after Elder’s decision to retire from radio, will continue as a regular sub for Tatum.
TALKERS News Notes. Philadelphia sports media legend and Pro Football Hall of Famer Ray Didinger announces he’s retiring from his weekend radio program on Audacy’s WIP, Philadelphia. The station reports that Didinger said on yesterday’s program that he co-hosts with Glen Macnow, “Sunday, May 29th will be my final show. I am ready to transition from Ray Didi to grandpop.” Audacy says Didinger covered the NFL for The Philadelphia Bulletin and The Philadelphia Daily News for over 25 years and in 1995 his name was added to writer’s honor roll in the Pro Football Hall Of Fame. Didinger also worked as a senior producer at NFL Films, as an Eagles TV analyst on NBC Sports Philadelphia…..SiriusXM announces that Jessica Casano-Antonellis joins the
company as SVP and head of communications, reporting to chief marketing officer Denise Karkos. In this role, she will be responsible for all aspects of the company’s communications function, including strategic communications, brand reputation management and media relations. Karkos adds, “Jessica is a valued and respected leader who brings a wealth of strategic communications experience in the media, entertainment and technology industries to SiriusXM. She will be an incredible asset to the company and will play a key role as we continue to tell the story of SiriusXM as a leader in audio entertainment.”…..Former KQQZ, St. Louis station owner Bob Romanik – whose self
-given nickname was “The Grim Reaper of Radio” – has died at age 72 while in hospice. According to his obit in the Belleville News-Democrat, Romanik served as an East St. Louis police officer and chief of police in both Washington Park and Valmeyer, Illinois during his career. He was a notorious raconteur who liberally used racial epithets on the air and referred to his programming as W.A.R. or White Awareness Radio. In 2020, after attempting to conceal his ownership of KQQZ and failing to show up for FCC hearings on the matter, the Commission permanently dismissed his application for renewal.
The Economy, Roe v Wade, COVID-19, Russia-Ukraine War, Midterms/Trump & the GOP, January 6 Investigation, and Musk & Twitter Among Top News/Talk Stories Over the Weekend. The sinking Dow and NASDAQ, the high price of food & gas, and the ongoing supply chain woes; the reactions to the leaked draft of a Supreme Court decision to reverse Roe v Wade; the rising rate of COVID cases in some parts of the U.S., concerns about new variants, and the ongoing lockdowns in China; Russia’s war in Ukraine and Vladimir Putin’s propaganda; the November midterm elections and Donald Trump’s influence over the GOP; the Justice Department’s investigation into the January 6 Capitol attack; and Elon Musk’s attempt to acquire Twitter were some of the most-talked-about stories on news/talk radio over the weekend, according to ongoing research from TALKERS magazine.
Thursday, February 10, 2022
WRVA, Richmond Talk Mainstay Jeff Katz is This Week’s Guest on Harrison Podcast. One of the elite local hosts in talk radio, Jeff Katz – heard 3:00-6:00 pm daily on WRVA, Richmond – is this week’s guest on the award-winning PodcastOne series “The Michael Harrison Interview.” Katz has been a radio talk show host since the early 1990s on major stations in Boston, Hartford, Charlotte, Philadelphia and currently in Richmond since 2013. He grew up in Philadelphia and was aiming for a career as an attorney until his father suffered a heart attack that set him on a different path so that he could help support his family. Katz graduated at the top of his police academy class and then served as a police officer in Philadelphia until he traded in his badge for a microphone
and started his broadcasting odyssey. He’s a fan favorite in Richmond and his program has repeatedly been chosen as the best afternoon radio show by the readers of Richmond Magazine and STYLE Weekly. In 2020, the Richmond Times-Dispatch named Katz the “Best Afternoon Radio Show” in Central Virginia. Over the years, Jeff has volunteered thousands of hours to help members of the local community with a special focus on law enforcement officers and disabled children. He and his wife are parents of a disabled child and that experience has had a tremendous impact on their lives and on Katz’s work. Michael Harrison describes Katz as “one of talk radio’s true humanitarians and an inspirational role model for us all.” President Trump honored Katz by presenting him with the President’s Award for Volunteer Service. In addition, FBI Director Christopher Wray honored him as the recipient of The Director’s Community Leadership Award for 2019. Don’t miss this fascinating conversation in which Harrison and Katz discuss the state of the radio business, politics, parenting, law enforcement and the art of “keeping your feet planted firmly on the ground.” To listen to the podcast in its entirety, please click here.
Ramsey Solutions Presents ‘Money & Marriage’ Livestream Event. Ahead of Valentine’s Day on Monday, Ramsey Solutions is presenting a livestream event called “Money & Marriage.” The press release says, “Marriage isn’t for the faint of heart. Whether it’s lack of communication, financial stress or a difference in parenting, marital strain is inevitable. But Ramsey Solutions wants to equip couples with the tools to build a stronger relationship.” The Friday 7:00 pm ET event will feature Rachel Cruze and mental health expert Dr. John Delony “for an evening of laughter and intentional conversation. Couples can enjoy this date night from home, all while covering topics ranging from fear avoidance to the importance of practicing connection.” Cruze says, “What you have to understand, first and foremost: it’s nearly impossible to win with money when you’re not on the same page as your spouse. Coming together practically and emotionally not only unifies you but gets you to your goals faster.” Tickets for the event can be had here.
Richardson and Gallant to Replace Charlie Pallilo at KFNC-FM, Houston. The Houston Chronicle’s Matt Young reports that Gow Media is naming Vanessa Richardson and Paul Gallant hosts of the 10:00 am to 12:00 noon program on sports talk KFNC-FM. This comes a day after longtime market sports personality Charlie Pallilo announced he is no longer with the station. Richardson is a former KPRC-TV sports anchor and reporter and Gallant previously served as a host at iHeartMedia’s crosstown KILT-AM “SportsRadio 610.” Richardson will be the only woman working in sports radio in Houston. She says, “I’ve wanted to host a show for a long time and I’m SO excited to do that on ESPN radio in Houston.”
Tee Gentry and Beasley Announce Renewal Deal. Programming pro Tee Gentry and Beasley Media Group announce they have signed a multiyear renewal deal for Gentry to continue with the company. Gentry, who has been with the company for the past 26 years, currently serves as Beasley’s vice president of brand strategies and regional operations manager of its Augusta, Georgia and Fayetteville, North Carolina radio clusters. Beasley chief content officer Justin Chase says, “Tee is one of the most brilliant programmers that I’ve had the opportunity to work with. During his many years with the company in markets like Augusta, Fayetteville, and Tampa, he’s only had success. We’re lucky to lock Tee in for another multiyear deal!” Gentry says, “It’s an absolute privilege to work with [regional VP] Kent Dunn and the incredible people in Augusta and Fayetteville. They are what local radio is all about! I look forward to continuing to be a part of the Beasley Media Group family for years to come.”
Salem Radio Network’s Larry Elder Featured in Newsweek Feature Story. The February 18 issue of Newsweek features the cover story, “The Rise of Black Conservatives: Will the GOP’s Bet Pay Off?” that includes Salem Radio Network talk host Larry Elder, among other Black conservatives such as media figure Candace Owens, Virginia Lt. Governor Winsome Sears, and Georgia U.S. Senate candidate Herschel Walker. Elder, who was the highest vote-getter in the recent recall election of California Governor Gavin Newsom, is quoted in the piece saying, “Donald Trump, to a greater degree than any Republican presidential candidate that I’ve seen, went to the inner city and tried to get Black votes. The message is this: Don’t act as if Black people cannot be convinced. They can be. Don’t condescend. Tell the truth. Talk about the issues, talk about how these issues benefit you.” Elder is also quoted saying the GOP needs to continue to work to attract Black voters. “Do I think that the Republican Party has done a poor job of marketing itself to Black voters? I do. They have written off Black people or they’ve assumed they’re going to vote for the Democratic Party.”
TALKERS News Notes. Sports talk legend Chris “Mad Dog” Russo – heard nationally on SiriusXM Radio – will again join ESPN’s Stephen A. Smith and Molly Qerim on the “First Take” program on Wednesday February 16. ESPN says Russo will then return for weekly appearances every Wednesday beginning March 2. In January, Russo and Smith debated Barry Bonds’ Hall of Fame campaign and the episode turned out to be the show’s most-watched episode ever. ESPN EVP and executive editor Norby Williamson says, “We couldn’t be more excited to add another marquee name in Chris “Mad Dog” Russo to our weekly rotating lineup and further build this momentum going forward, providing viewers with the best possible debates, topics and content.”…..Cumulus Media and DCP Entertainment announce that the new season of DCP’s podcast “democracy-ish” on the Cumulus Podcast Network will feature Wajahat “Waj” Ali as the new co-host alongside veteran host Danielle Moodie. Cumulus says, “The podcast hosts aim to keep it real, blunt, and entertaining as they discuss how to achieve a multiracial democracy, cover all the ground left behind by mainstream media, and seek to make sense of the nonsense.”…..Award-winning reporter Nate Hegyi joins New Hampshire Public Radio as host and senior producer of “Outside/In,” the program that delves into the natural world and how we use it. Hegyi most recently worked as a reporter for the Mountain West News Bureau, a consortium of NPR member stations covering the region. NHPR president and CEO Jim Schachter says, “‘Outside/In’ is well on its way to becoming a leading national source of engaging, empowering environmental journalism. With Nate as host, the show can build a community of people across the United States and beyond who care deeply about the natural world and humankind’s responsibility for it.”…..WMFE and WMFV, the NPR affiliates serving the Orlando area and nine counties across Central Florida, name longtime public media journalist and consultant Judith Smelser president and general manager. Smelser has served as WMFE/WMFV’s interim president and general manager since September 2021 and has a long history with the station as an award-winning reporter from 2004-2007, and then news director until 2011, before she was recruited away by Colorado Public Radio in Denver.
COVID-19/Freedom Convoy, Midterms/Trump & the GOP, Inflation, Cheney-Kinzinger Censure, Ukraine Tensions, Social Media & Cancel Culture, Beijing Olympics, and Super Bowl LVI Among Top News/Talk Stories Yesterday (2/9). The rate of COVID-29 cases in the U.S., plans to pull back mask mandates in numerous states, and the Canadian truckers’ Freedom Convoy; the battle for control of Congress in November’s midterm elections and Donald Trump’s influence over the GOP; the U.S. is set to record the highest rate of inflation in 40 years; the GOP’s internal squabble over the RNC’s intent to censure Senators Liz Cheney and Adam Kinzinger for criticizing Trump’s January 6 actions; the diplomatic tensions between Russia and the West over the Russian military presence at the Ukraine border; the politics of social media platform rules and Spotify’s tightrope walk over Joe Rogan’s popular podcast and its critics; the controversies at the Beijing Winter Olympics; and the buildup to Sunday’s Super Bowl LVI were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.