second quarter | TALKERS magazine - “The bible of talk media.” : TALKERS magazine – “The bible of talk media.”

Tag: "second quarter"

Thursday, August 4, 2022

| August 4, 2022

Richard Neer is This Week’s Guest on Harrison Podcast. Legendary WFAN, New York sports talk show host/rock radio pioneer Richard Neer and TALKERS founder Michael Harrison have been close friends and radio colleagues for more than half of the medium’s 100-year history. Needless to say, they always have plenty to talk about regarding media and popular culture – past, present, and future. Richard Neer is this week’s guest on the award-winning PodcastOne series, “The Michael Harrison Interview” marking his record-breaking seventh visit since the program debuted as one of the platform’s earliest offerings in 2015. In addition to his rich on-air history, Neer is the prolific author of 10 Riley King murder mystery novels and his historic overview of album rock radio, FM: The Rise and Fall of Rock Radio (Villard, 2001) remains a literary milestone chronicling the golden days of the AOR era. On this podcast, Harrison and Neer talk about a wide variety of topics including Joni Mitchell’s recent performance at the Newport Folk Festival, the high cost of Bruce Springsteen concert tickets, the controversial LIV Golf tour backed by Saudi Arabia, changes in the record business, the challenges of writing and publishing historical fiction, movies, TV, CGI and a whole lot more. To listen to the podcast in its entirety, please click here.

Cumulus Media Q2 Net Revenue Rises 5.4%. Reporting its financial data for the second quarter of 2022, Cumulus Media reveals net revenue of $236.7 million – an increase of 5.4% over the same period in 2021. The company also reports net income of $8.7 million for the quarter after posting a net loss of $5.9 million during Q2 of 2021. Total broadcast revenue for Cumulus fell 0.3% to $175.7 million compared to the second quarter of 2021. While radio spot revenue was $127 million – up 5.1% over Q2 2021, network revenue slipped 12% to $48.7 million. Cumulus Media’s digital segment rose 20.3% to $37.8 million. CEO Mary Berner comments, “Our ability to deliver yet another quarter of strong results is testament both to the quality of our strategic plan and the discipline and relentlessness with which we implement it.  Specifically, we have deployed our multi-platform audio-first content strategy, developed multiple digital businesses, significantly reduced fixed costs, undertaken high ROI internal investments, and created a best-in-class balance sheet that gives the company substantial financial flexibility and capital allocation optionality. Given our track record, we have tremendous confidence in our ability, under this plan, to grow shareholder value. Despite the challenging macro environment, we increased revenue in the quarter by more than 5%, driven by our digital businesses whose growth accelerated in Q2 to 20% year-over-year. Additionally, bolstered by our ongoing focus on fixed cost reductions, this quarter we generated additional cash from operations and increased net income, EBITDA and EBITDA margins vs. the same period last year. We also efficiently executed nearly half of our $50 million share repurchase authorization and bought back $50 million of bonds at a discount, while simultaneously reducing net leverage to 3.8x, the lowest it’s been in more than a decade. With a robust political spending season anticipated, we are on trend toward achieving our net leverage target of less than 3.5 times and EBITDA at the low end of our 2022 guidance range.”

Conservative Media Figures Gather at CPAC 2022. Pictured above (from l-r) are WMAL-FM, Washington, DC morning drive personality Larry O’Connor, Salem Radio Network VP, news & talk programming Tom Tradup, and author and TOWNHALL.com contributor Kurt Schlichter in Dallas for the first day of CPAC 2022. The annual event runs through Sunday and speakers scheduled to address the gathering include: former President Donald Trump, Senator Ted Cruz, British conservative leader Nigel Farage, and Hungary Prime Minister Viktor Orban.

Former WFTL, Fort Lauderdale Talk Host Rich Stevens Passes. TALKERS magazine has learned that former WFTL, Fort Lauderdale talk host Rich Stevens died on July 30 at the age of 68 after suffering a heart attack. Stevens worked in music radio prior to hosting his talk show on WFTL, serving at such signals as WPLJ-FM, New York and WJHM, Orlando. He also served at WABC-TV, New York as an entertainment reporter.

TALKERS News Notes. As part of RAB’s Radio Works initiative, the next live presentation in the series titled, “Radio Works for Restaurants,” takes place on Wednesday, August 17 at 1:00 pm ET and will provide industry insights and trends intended to help broadcasters gain a better understanding of the opportunities and challenges facing the restaurant industry and how radio can continue to serve this category. Since the beginning of the pandemic, restaurants have endured closures, staffing shortages, product supply strains and inflationary pressures making for a challenging business environment. Hudson Riehle, senior vice president, research & knowledge group at the National Restaurant Association, will provide an update on the “State of the Restaurant Industry” to help radio sellers understand the areas where businesses in this category need support. It’s free for RAB members and they can register here…..ESPN and Omaha Productions are expanding their relationship in the audio space with the premiere of a new show, “Kyle Brandt’s Basement,” led by NFL Network “Good Morning Football” host Kyle Brandt. The daily show debuts August 8 and “explores the ins and outs of the NFL through lively guest interviews with the top voices in the sport and inventive segments unique to Brandt to bring fans closer to the action on and off the field.” Brandt comments, “I’m thrilled about this show, and I’ll be shot out of a cannon every single day. It’s in my own basement and I’ve got games, toys and takes. I can promise one thing: it will not be boring.”…..Pictured at left is WGKB-AM/W269DL, Milwaukee “101.7 The Truth” talk host Tory Lowe during last weekend’s 7th Annual Stop the Violence Peace Walk during which he walked from Milwaukee to Chicago (more than 80 miles) to “raise awareness and bring an end to violence in our communities.” Lowe says, “It is important for us to build a bridge between Milwaukee and Chicago, open the lines of communication, and bring awareness to the violence that plagues our communities.”

Kansas Abortion Vote, Midterms/2024 Presidential Race, Pelosi Taiwan Visit, January 6 Investigation, Russia-Ukraine War, The Economy, COVID-19, and U.S. Rep. Walorski Killed Among Top News/Talk Stories Yesterday. Kansas voters elect to keep abortion rights in the state’s constitution; the primary races for the November midterm elections and speculation about the nominees in the 2024 presidential race; House Speaker Nancy Pelosi’s visit to Taiwan and China’s angry response; the January 6 investigation and the DOJ subpoenas issued to former White House counsel Pat Cipollone and former deputy counsel Patrick Philbin; Russia’s ongoing invasion of Ukraine and the impact on the global economy; the falling price of gasoline and the still-high cost of food in the U.S. and concerns about a recession; the rate of BA.5 subvariant cases in the U.S.; and U.S. Rep Jackie Walorski (R-IN) and two staffers are killed in a car accident were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.

Tuesday, August 2, 2022

| August 2, 2022

Townsquare Media Second Quarter Net Revenue Rises 13.6%. For the second quarter of 2022, Townsquare Media is reporting net revenue of $121.9 million, an increase of 13.6% over the same period in 2021. The company also reports net income of $4.9 million, a decrease of $5.2 million from Q2 of 2021. Townsquare’s financial data is broken in to three primary segments: Subscription Digital Marketing Solutions, Digital Advertising, and Broadcast Advertising. The Subscription Digital Marketing Solutions segment includes its subscription digital marketing solutions business, Townsquare Interactive. The Digital Advertising segment, marketed externally as Townsquare Ignite, includes digital advertising on the company’s owned and operated digital properties and its digital programmatic advertising platform. The Broadcast Advertising segment includes its local, regional, and national advertising products and solutions delivered via terrestrial radio broadcast, and other miscellaneous revenue that is associated with the broadcast advertising platform. The Subscription Digital Marketing Solutions segment’s net revenue rose 13.7%, the Digital Advertising segment’s net revenue was up 25.4%, and the Broadcast Advertising segment’s net revenue rose 1.0%. Company CEO Bill Wilson states, “I am proud to share that the Townsquare team delivered another quarter of strong revenue and profit growth, and in doing so, we achieved all-time record highs for both net revenue and Adjusted EBITDA. Our performance clearly demonstrates the strength and differentiation of our digital businesses and our legacy broadcast business. Townsquare’s second quarter net revenue increased year-over-year by 14%, exceeding our guidance range, and Adjusted EBITDA increased 7% year-over-year, meeting our guidance range. In addition, our digital revenue growth accelerated from the first quarter (Q1 +16% year-over-year), with second quarter total digital revenue increasing 21% year-over-year. Our strong top-line growth, margin profile, and cash generation characteristics have contributed to the reduction of our net leverage, now at a historical low of 4.65x as of June 30th, including the repurchase and retirement of $19 million of our Senior Secured Notes at or below par in Q2. We are also pleased to announce that we are raising our FY 2022 guidance following the close of the Cherry Creek acquisition on June 17th. Our updated full-year guidance reflects the ongoing momentum of our business and the strength of our performance to date, fueled by our differentiated digital platform. As a Digital First Local Media Company focused principally on markets outside of the Top 50 in the United States, we have a resilient digital growth engine supported by subscription digital marketing solutions, with a large addressable market and limited competition. As we move forward, we expect double-digit digital net revenue growth to continue at strong margins, reaching our digital revenue target of at least $275 million in 2024. With half of our total revenue and profit coming from digital today, it is our belief that over time as digital continues to meaningfully grow, Townsquare should and will be afforded a sum-of the-parts valuation that our digital assets deserve.”

70 Years of WGN-AM, Chicago Audio Archived at Northwestern University. As the result of a gift from WGN-AM, Chicago’s parent company Nexstar Media Group, a 70-year swath of the radio station’s audio archive now resides at Northwestern University Libraries in the Charles Deering McCormick Library of Special Collections and University Archives. The station says, “The archive, with materials covering 1941 to 2011, includes more than 15,000 items, primarily magnetic media (open reel tapes, compact cassettes, continuous-loop “carts,” U-matic videocassettes and VHS tapes) as well as other media such as grooved discs, CDs and minidiscs. The bulk of the audio dates to the 1980s and 1990s, a period of innovation and surging popularity for the station.” Scott Krafft is curator of special collections at Northwestern and he says that the archive contains thousands of hours of audio that will need to be cataloged and, where necessary, digitally preserved before they can be made publicly available. He adds, “It’s a remarkable collection that represents a significant sampling of Chicago history, including local and national news. In addition, the voices of WGN Radio’s most popular programs are represented here, making this an important archive for the history of the entire field of radio broadcasting.” WGN Radio VP and general manager Mary Sandberg Boyle comments, “Given the long and storied connection between WGN Radio and Northwestern University, it is most fitting that this audio collection, drawn out of 70 years of our broadcast history, will be under their care. While digitizing it will be a substantial undertaking for the Northwestern Libraries, ultimately, this will be a permanent and invaluable repository and resource for years to come. We trust their expertise and are proud they are the caretakers in this endeavor.”

Triton Digital Streaming Ranker for June 2022 Released. The monthly ranking of the top-performing streaming audio stations has been released for the month of June by Triton Digital. The ranking is based on Average Active Sessions which is calculated by dividing Total Listening Hours by the number of hours within the reported time period. In the period of 6AM-12AM Mon-Sun, iHeartRadio is far and away the #1 streamer again this month with 301,251 Average Active Sessions. Continuing in the #2 spot this month is NPR Member Stations (72,476 AAS), followed by Audacy at #3 (68,570 AAS), and Cumulus Streaming Network at #4 (41,562 AAS). Other streamers of note in the top 25 include Beasley Broadcasting Corporate at #7 (18,663 AAS), Hubbard Broadcasting at #8 (15,151 AAS), and Salem Communications at #11 (8,677 AAS). See the complete chart here.

TALKERS News Notes. Former WTMJ, Milwaukee air personality Jane Matenaer, who exited the station last month after six and a half years with the Good Karma Brands news/talk outlet, is staying with the company as producer and news reporter for sister progressive talk WAUK-AM/W266DR, Waukesha “The ‘Sha 101 FM” on the “As Goes Wisconsin” early afternoon program hosted by Kristen Brey…..Cumulus Media appoints Derek Falter VP/market manager for its Grand Rapids and Muskegon, Michigan markets that include sports talk WJRW-AM, Grand Rapids “The Ticket” and seven music-formatted stations. Falter, who was most recently regional VP for Curtis Media Group, comments, “I’m beyond excited about the opportunity the leadership team at Cumulus Media is giving me to work alongside the dynamic crews in Grand Rapids and Muskegon! Thanks to Mary Berner and Bob Walker for bringing me back to a part of the country that is so meaningful to my family.”

Al-Zawahiri Killed, Pelosi’s Asia Trip, Biden’s Climate/Health Bill, Manchin-Schumer Bill, Midterms/2024 Presidential Race, The Economy, January 6 Sentencing, Deadly Kentucky Floods/Western Wildfires Among Top News/Talk Stories Yesterday (8/1). 9/11 orchestrator Ayman al-Zawahiri is killed in drone strike in Kabul; House Speaker Nancy Pelosi’s expected visit to Taiwan and China’s threatening response; the fate of Joe Biden’s climate and health bill; the Joe Manchin and Chuck Schumer-authored Inflation Reduction Act; November’s midterm elections and speculation about the nominees in the 2024 presidential race; the still-high price of gasoline and food and concerns about a recession; Guy Reffit is sentenced to seven years in prison for his part in the January 6 Capitol attack; the deadly Kentucky floods and threats of more rain to the region plus the ongoing wildfires in Northern California were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.

Monday, August 1, 2022

| August 1, 2022

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

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

 

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

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

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

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

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

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

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

Friday, August 6, 2021

| August 6, 2021

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, “Masks, Mandates and Mayhem,” looks back at this past week of August 2-6. The program features guests (in order of appearance): Kevin Casey, executive editor, TALKERS magazine; Grace Curley; talk show host, WRKO, Boston / HCRNDavid Gornoski, talk show host, WHBO, Tampa; Brett Winterble, talk show host, WBT, Charlotte; Ralph Nader, political activist/talk show host, the Ralph Nader Radio Hour; Dr. Daliah Wachs, talk show host, Genesis Communications Network / physician; and Victoria Jones, executive director, DC Radio Company. 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; WPG, Atlantic City, NJ; 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; KQEN, Roseburg, OR; the Virginia Talk Radio NetworkCRN Digital Talk Radio Network; the iHeart Podcast NetworkPioneer 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 or call 616-884-8616.

iHeartMedia Second Quarter Revenue Up 76.7%. The company reports revenue for the second quarter was $862 million, up 76.7% from the same period in 2020 and down just 6% from the pre-pandemic second quarter of 2019. For Q2 of 2021, iHeartMedia reports operating income of $28.1 million compared to the operating loss of $159.1 million reported in the second quarter of 2020. For all of 2020, the company reported an operating loss of $1.88 billion. That loss has narrowed to $48.2 million for the first six months of 2021. iHeartMedia now reports its data in three segments – the Multiplatform Group that includes broadcast radio, networks, and sponsorship & events; the Digital Audio Group that includes digital content and podcasts; and the Audio and Media Services Group, including Katz Media Group and RCS.  Broadcast radio’s revenue was $451.1 million, an increase of 84.9% while networks revenue was $123.6 million, up 28.3%. As a whole, the Multiplatform Group’s revenue was $605.9 million, up 69.7%. Digital, excluding Podcast was up 100.7% on revenue of $144.5 million and Podcast revenue rose 151.5% on revenue of $53.4 million. iHeartMedia reports that its net debt is $5.4 billion.

Audacy Q2 2021 Revenue Rises 73%. Reporting financial data for the second quarter of 2021, Audacy, Inc. says net revenue was $304.5 million, up 73% compared to $175.9 million in the second quarter of 2020. Breaking down the revenue by type, Audacy reveals spot revenue was $202.8 million, up 98% compared to the second quarter of 2020. Digital revenue was $58.4 million, up 41% compared to the same period a year ago. Network revenue was $20.6 million, an increase of 21% over Q2 of 2020. Operating income for the quarter was $17.9 million compared to the operating loss of $45.5 million the company posted in the second quarter of 2020. Audacy president and CEO David J. Field states. “I am pleased to report that Audacy accelerated its recovery from the pandemic as second quarter revenues grew 73% over the prior year, led by a 98% increase in spot radio advertising and 41% growth in digital revenues. In addition, our momentum is continuing into the third quarter as we expect that revenues will increase by about 10% sequentially from the second quarter and by about 25% compared to prior year. We continue to make great strides in enhancing our business and elevating our competitive position. During the second quarter, we executed a rebranding of the company as Audacy, a name that reflects our evolution into a leading, multi-platform audio content and entertainment company with scaled audience reach and an important leadership position across the full spectrum of the dynamic and growing audio market – including broadcasting, podcasting, digital, network, events, music, news and sports. Our recent acquisitions in podcasting and sports betting, as well as numerous growth investments have significantly enhanced our ability to capitalize on broader advertising trends, augment our product line and better serve our listeners and customers. This has been an active period of development across the company as we recently launched over 350 exclusive new stations on our Audacy digital platform, unveiled our new 2400Sports podcast studio, commenced a three-year strategic partnership with American Public Media (the creators of Marketplace), expanded our BetQL network, and announced an important partnership with Major League Baseball, making us the league’s official podcast and digital audio partner. We are also pleased to note the significant acceleration in each of our digital businesses, including podcasting, digital audio, and digital marketing solutions. 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.”

Personnel Exiting ‘NoogaRadio’ As Station Plans Programming Changes. According to a report at The Chattanoogan, a number of staffers at news/talk outlet WPLZ-HD4/W224AZ, Chattanooga “NoogaRadio” at 92.7 FM are leaving as management plans changes to the programming. The station had been billed as “Local Radio Done Right” and was created by former owner Jim Brewer. After Brewer’s death from cancer, the station is now owned by Sabatino Cuppelli. Station general sales manager Mike Lisowski tells The Chattanoogan, “It is with deep sadness I regret to inform you that as of Friday the ‘Fred the Show’ morning crew, including Jeff Styles, a beloved 29-year veteran of local talk radio, Jen Lambert, also general manager who brought 20-plus years of experience in marketing, advertising, promotions and design, Jason Kirk, also our operations manager who brought a multitude of knowledge and technical expertise, not to mention his sales ability, will be parting ways with NoogaRadio.” Lisowski adds that sports broadcaster Keon Rose is moving to Arizona to advance his career.  The statement continues: “Unfortunately, after four years, a lot of blood, sweat and tears and a whole lot of love, the station ownership has chosen to take ‘NoogaRadio’ in a direction that most of us feel we are unable to stand behind. We are so grateful and proud to have been able to entertain you for as long as we have and, as the general manager, I am able to move on with my head held high knowing that I gave it my all. We genuinely hope we can bring our relationship to an amicable end in the most professional manner leaving no burned bridges, hard feelings or severed business relationships.”

WSB Care-a-Thon Raises $1.67 for Aflac Cancer & Blood Disorders Center. Pictured above are WSB-AM/WSBB-FM, Atlanta personalities (from l-r) Eric Von Haessler, Scott Slade, and Clark Howard with the check indicating the grand total of $1,671,813 raised during the July 29 and 30 “95.5 WSB Care-a-Thon benefiting the Aflac Cancer and Blood Disorders Center of Children’s Healthcare of Atlanta.” During the 37-hour broadcast, Slade, Howard, Erick Erickson, Von Haessler, Mark Arum, Brian Kilmeade and many other 95.5 WSB hosts turned the airwaves over to the patients and families of Aflac Cancer and Blood Disorders Center to raise funds to support research, the Fellowship Program, and the family support team at the Aflac Cancer and Blood Disorders Center. Over the past 21 years, the 95.5 WSB Care-a-Thon has raised over $28 million for the cause. 95.5 WSB director of branding & programming Drew Anderssen says, “This event began as an idea from 95.5 WSB’s Scott Slade, and 21 years later we continue the partnership with the great people at Aflac Cancer and Blood Disorders Center of Children’s Healthcare of Atlanta. This event reminds us that no matter what we have going on in our own lives, there are always others dealing with challenges much more difficult than our own. The passion and heart of our team is represented by the incredible generosity of the 95.5 WSB listeners.”

TALKERS News Notes. Albuquerque sports talk KNML-AM/K240BL “95.9 FM and AM 610, The Sports Animal” announces it is partnering with the NFL’s Las Vegas Raiders and Denver Broncos to bring all Raiders games and non-conflicting Broncos games to Albuquerque sports fans for the 2021-2022 season. The Cumulus Media station is also airing its current powerful slate of Westwood One Primetime NFL programming. Cumulus Albuquerque operations manager Jared Hart comments, “Our partnership with The Raiders and Broncos is vital to Albuquerque as it helps bring NFL football coverage to the extensive Raider and Bronco fan base in our passionate sports state. We couldn’t be more excited to have the inaugural season of Las Vegas’ first NFL team, and the love of the Broncos in Albuquerque is palpable. We think this will energize the NFL programming on The Sports Animal better than almost any other NFL team could.”…..iHeartMedia and Salesforce.org are launching a special six-episode iHeartRadio Original podcast series hosted by Emmy-nominated and NYT Bestselling author, Baratunde Thurston, called “Force Multiplier,” that examines the exponential impact businesses and organizations can have on the world by working together. “Force Multiplier” was created to bring leaders from public, private and nonprofit sectors together to discuss how they’re tackling some of the world’s toughest challenges, such as nutrition insecurity, health equity, workforce development, racial injustice, mental health & wellbeing and homelessness…..ABC News says its hit podcast “The Dropout” returns with new episodes as Elizabeth Holmes – once the youngest self-made female billionaire – goes on trial for alleged fraud, facing decades in prison, if convicted. “The Dropout: Elizabeth Holmes on Trial” is hosted by ABC News chief business, technology & economics correspondent Rebecca Jarvis, who’s spent more than a decade covering business and five years investigating Holmes. The Stanford University dropout turned founder and CEO of the blood-testing company Theranos suffered an astounding fall from grace amid the accusations of alleged widespread fraud. “The Dropout: Elizabeth Holmes on Trial” debuts with two new episodes on Tuesday, August 31, to coincide with jury selection…..Boston NPR member station WBUR announces the next call for submissions for the WBUR Newsroom Fellowship. This Fellowship is a yearlong program for recent graduates or early-career journalists who are looking to build reporting and production skills and have a demonstrated commitment to advancing issues of underrepresented voices in public radio. For the first time, WBUR will select two Fellows for the program who will each receive a salary of $55,000 in addition to a complete Boston University benefits package. The Fellowship provides hands-on training in every aspect of public media journalism. Fellows will develop their skills under the guidance of WBUR’s editors and producers and will contribute to each part of the newsroom, rotating every three months, maximizing exposure to the many aspects of public media, including newscast, live broadcast, digital and reporting. See more about this Fellowship and apply here…..Audacy announces former NFL All-Pro T.J. Lang is joining sports talk WXYT-FM, Detroit “97.1 The Ticket” and the Detroit Lions Radio Network, effective August 6. Lang will join Dan Miller and Lomas Brown as the sideline reporter. Lang will also be in studio on the station each week throughout the professional football season, joining “The Morning Show with Stoney and Jansen” and “The Mike Valenti Show with Rico” on Monday and Fridays.

COVID-19 Delta Variant, Vaccine Hesitancy, Masks and Mandates Combine as Top News/Talk Story for Week of August 2-6. The fast-rising number of COVID-19 Delta variant cases in the U.S., vaccine hesitancy in numerous parts of the country, and the controversy of mask policies and mandates combined as the most-talked-about story on news/talk radio this week, landing atop the Talkers TenTM. At #2 this week was the New York Attorney General’s report on the allegations of sexual impropriety against Governor Andrew Cuomo and the push for him to resign. Following at #3 was the investigation into the Capitol attack by the January 6 Committee, the voting legislation taking place in various states, and race relations. 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.

Thursday, August 5, 2021

| August 5, 2021

Beasley Broadcast Group Second Quarter Net Revenue Up 96%. Reporting its financial data for the second quarter of 2021, Beasley Broadcast Group (parent company of Beasley Media Group) indicates net revenue was $59.6 million, an increase of 96.1% over the same period in 2020. The company posts operating income of $5.8 million compared to the $17.6 million operating loss it reported in Q2 of 2020. Station operating income also rebounded to $11.1 million compared to the $11 million SOI loss it posted in the same period a year ago. Beasley CEO Caroline Beasley states, “Beasley’s strong 2021 second quarter financial results reflect growing momentum across our media platform, as the continuing broad-based economic recovery accelerated demand from consumers and advertisers for our premium content and marketing and advertising services. With the significant rebound in the commercial advertising market, second quarter net revenue of $59.6 million increased 24% over first quarter 2021 levels and 96% over the comparable prior year period. Top line growth combined with the meaningful actions we have taken over the past year to permanently reduce costs and improve operating efficiencies, resulted in a significant rebound in net income to $0.2 million and SOI to $11.1 million, as well as positive free cash flow of approximately $1.0 million. Throughout the second quarter, the resumption of advertising in key categories combined with the success of our content monetization strategies resulted in year-over-year revenue growth across all fifteen of our markets, with healthy double-digit revenue increases in Boston, Detroit, Philadelphia and Wilmington. Notably, our continued emphasis on strong local content and consumer engagement drove best-in-industry ratings performance for our station clusters, according to Nielsen. Our cumulative on-air audience share approached pre-pandemic levels in the second quarter, having grown consistently since the height of the COVID-19 pandemic in 2020. While second quarter non-traditional revenue (NTR) and events revenue was minimal, we made the strategic decision to fully re-open our events business in the third quarter, given the continued strengthening of commerce and consumer activities in our markets, and expect incremental revenue from this source in the second half of 2021. As we work to return all of our revenue sources to pre-pandemic levels of operation, we are closely tracking potential impacts from the Delta variant and the uncertainty it may bring to businesses we serve and our future operating results. Our ongoing focus on digital innovation and the strategic investments we are making in our digital and esports infrastructure and content production capabilities are delivering positive results and continue to highlight the value of our long-term revenue and cash flow diversification strategies. Growing consumer and advertiser demand for Beasley’s digital audio content drove a 96% year-over-year increase in digital revenue, with digital accounting for approximately 13.4% of total second quarter revenue, compared to 13.4% in the prior year period and 12% in the 2021 first quarter. With growing audience share and engagement, Beasley’s digital network delivered record digital audience impressions in the second quarter, with total digital impressions growing 29% over the prior year period.”

Salem Media Group Q2 2021 Total Revenue Rises 20.6%. The total revenue for Salem Media Group’s second quarter of 2021 was $63.8 million, an increase of 20.6% over the same period in 2020. Salem posted operating income of $5.6 million for the quarter, compared to the operating loss of $900,000 it reported during the second quarter of 2020. The company’s net income for Q2 of this year was $2.3 million compared to the net loss of $2.5 million it reported for the second quarter of 2020. Salem Media Group reports data for its three business segments and the Broadcast segment’s net revenue for this quarter was $46.8 million, up 18.5% from the same period a year ago. Station operating income rose 66.6% to $10.6 million. The Digital Media segment saw revenue rise 9.5% to $10.3 million and the Publishing segment revenue was $6.7, an increase of 68.3%. As of June 30, 2021, the Salem Media Group had $216.3 million outstanding on the 6.75% senior secured notes due 2024, no balance outstanding on the Asset Based Revolving Credit Facility, and $11.2 million outstanding on Paycheck Protection Program (“PPP”) loans from the Small Business Administration.

Saga Communications Q2 Net Revenue Up 49.7%. Second quarter financial data from Saga Communications, Inc. reveals that the company’s net revenue was $28 million, an increase of 49.7% over the same period in 2020. The company posted operating income of $4.6 million compared to the operating loss of $8.6 million it reported in the second quarter of 2020.  Station operating expense increased $2.4 million to $21.0 million for the quarter compared to the same period last year. Station operating income was $8.4 million for the quarter compared to a loss of $181,000 for the second quarter of 2020. Free cash flow was $4.2 million for the quarter compared to a negative $1.8 million for the same period last year. Saga’s balance sheet reflects $59.4 million in cash on hand as of June 30, 2021 and $59.6 million as of August 2, 2021.  The company’s total bank debt remained at $10 million as of the end of the second quarter 2021.

Urban One Second Quarter Net Revenue Climbs 41.6%. Today’s second quarter 2021 financial report from Urban One, Inc., parent company of Radio One, indicates the company’s net revenue was approximately $107.6 million, an increase of 41.6% from the same period in 2020. Broadcast and digital operating income was approximately $49.6 million, an increase of 64.3% from the same period in 2020. Urban One reports operating income of approximately $37.9 million for Q2 of 2021, compared to approximately $20.4 million for the same period in 2020. Net income was approximately $17.9 million compared to approximately $1.4 million for the second quarter of 2020. Urban One CEO and president Alfred C. Liggins, III says, “Overall we had an extremely strong second quarter; not only was Adjusted EBITDA up 82.4% year-over-year, but we also surpassed our Q2 2019 pre-pandemic Adjusted EBITDA. We are experiencing unprecedented advertiser interest in our audience across the entire Urban One platform. The radio advertising business saw a robust rebound from the worst impacts of the pandemic in Q2 2020, with segment revenues up by 73% and radio syndication revenues up 50.2%. We also benefitted from strong TV scatter markets, with TV advertising revenues up 21.3% in the quarter; furthermore, registered interest in our 2021-22 TV upfront sales presentations has also been extremely encouraging, which will help our fourth quarter revenue performance. Demand for our digital products remains high, with digital revenues up by 147.9% for the quarter and Adjusted EBITDA up by over $6 million; a significant help to our top and bottom-line growth. For Q3, our core radio business excluding political is currently pacing up by over 40%, and we are comfortable increasing our FY21 Adjusted EBITDA guidance to mid-$130 million, excluding casino chase costs. During the quarter we completed the second tranche of our Class A ATM share sale program, which yielded $21.2 million net of fees. This cash influx further strengthened our balance sheet, and we ended the quarter with $129.8 million of cash on hand, which is a healthy place to be ahead of the exciting new investment opportunity in the One Casino & Resort in Richmond, Virginia.”

Ralph Nader is This Week’s Guest on Harrison Podcast.  Legendary consumer advocate, political activist, prolific author, Pacifica radio talk show host and five-time presidential candidate Ralph Nader is this week’s guest on the award-winning PodcastOne series, “The Michael Harrison Interview.” Harrison and Nader engage in a fascinating discussion about “left/right political thinking” in America as well as social and business changes influenced by advancements in technology, plus more. Nader says working class Democrats and Republicans alike have far more in common than they have differences and that unbridled corporatism is the true enemy of the poor and working class regardless of race or political ideology. To listen to the podcast in its entirety, please click here.

NAB Announces 2021 Marconi Finalists. The finalists for the 2021 Marconi Awards have been announced. The news/talk Station of the Year finalists are: WSB-AM, Atlanta; WTOP-FM, Washington; KSSZ-FM, Columbia, Missouri; WLW-AM, Cincinnati; and KNX-AM, Los Angeles. (NAB lumps all-news and news/talk stations into the same category.) WSB-AM, Atlanta is also up for Legendary Station of the Year. Talk radio hosts making the finals include, for Major Market Personality of the Year, George Dunham, Craig Miller, and Gordon Keith from sports talk KTCK-AM, Dallas “The Ticket.” In the Large Market Personality of the Year category, finalists include: WFLA-AM, Tampa’s Jack Harris; WBAL-AM, Baltimore’s C4 and Bryan Nehman; WHPT-FM, Tampa’s Mike Calta; and WWTN-FM, Nashville’s Dan Mandis. Medium Market Personality of the Year category finalists include: KRMG-FM, Tulsa’s Dan Potter; KIDO-AM, Boise’s Kevin Miller; KYKX-FM, Tyler, Texas’ Harlen the Sports Guy and Pigskin Bob; and WHO-AM, Des Moines’ Simon Conway. See all the finalists here.

TALKERS News Notes. Next Tuesday (8/10), McVay Media’s Mike McVay is joining Loyd Ford from Rainmaker Pathway Consulting Works, LLC for “The Radio State Of The Union Live Event” on The Encouragers on Clubhouse. It’s being billed as “a frank discussion about employment, job search, career management, corporate & local radio and the future” and takes place at 7:00 pm ET. Ford says, “We have been discussing the people we love in this business, the talent. This is a unique time in our history. If you are on the talent side of the business, it takes some skill to navigate your way through what is happening. I reached out to Mike because he really does have such deep experience and knows radio as a talent, a consultant and someone who ran programming for one of the largest broadcasters in the country. Plus, he’s willing (like I am) to be candid. This will be a conversation with red meat and a lot of helpful hacks to get ahead, stay balanced and help others.”…..Legendary WGN-AM and WGN-TV sports producer Jack “Rosey” Rosenberg will be recognized by the City of Chicago with an honorary street sign. The southeast corner of E. Illinois Street and Cityfront Plaza Drive will double as “Jack Rosenberg Way.” Rosenberg’s career at WGN began in 1954 where he was a producer, news writer, and sports editor and worked with celebrated sports voices including Jack Brickhouse, Harry Caray, Vince Lloyd, Lou Boudreau, and others. WGN says, “Rosey was a pioneer in modern sports production and broadcasting and is credited with its development. While Rosey himself was rarely heard on-air, the sound of his typewriter clacking in the background was unmistakable.” Rosenberg died December 26, 2020 at the age of 94…..Futuri announces the launch of AdMatic, “a revolutionary system that helps podcast platforms and creators make their content more discoverable and monetizable using advanced metadata sorting and deployment.” Futuri CEO Daniel Anstandig adds, “Two million podcasts all have the same problem: poor metadata sorting that leads to mismatched recommendations for listeners and ineffective advertising for businesses. AdMatic solves this by using Futuri’s AI-driven technology to individually categorize podcast episodes and align with the businesses and products that best match on a case-by-case basis, rather than the hopelessly broad one-size-fits-all approach we currently see in the market.”

COVID-19 Delta Variant/Outbreaks & Mask Policies, Eviction Moratorium, Cuomo Allegations-Impeachment Possibility, Infrastructure Bill, January 6 Investigation, the Tokyo Olympic Games, and California Wildfires Among Top News/Talk Stories Yesterday (8/4). The fast-rising number of COVID-19 Delta variant cases in numerous U.S. states, governors under fire and mask policies; President Joe Biden’s moratorium on evictions; the allegations of sexual impropriety against New York Governor Andrew Cuomo and the possibility of his being impeached; the bi-partisan $1 trillion infrastructure bill; the investigation into the January 6 Capitol attack; the Tokyo Olympics; and the California wildfires were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.