Front Page News Industry News

Monday, October 3, 2022

Monday Memo: Yes, You Need More Cume. “It’s a never-ending problem” because budgets are tight, and with new-tech competitors chipping-away at AM/FM Time Spent Listening. In this week’s column, consultant Holland Cooke outlines three specific goals for on-air promotion; but cautions that “the only people who hear it are already listening.” Read it here.

 

Pending Business: The Aftermath of Ian. Radio sales pro Steve Lapa has been affected by natural disasters numerous times during his career – including the long list of hurricanes that have impacted Florida in recent decades. In today’s column, he offers five takeaways for radio sellers working in markets affected by Ian, as well as those who may face a similar situation in the future. Read it here.

 

Morning Host Chris Stigall Re-Ups with Salem’s ‘The Answer’ in Philly. WNTP-AM, Philadelphia “AM 990 The Answer” morning host Chris Stigall signs a multi-year extension to continue with the Salem Media Group news/talk station. The host of “Philadelphia’s Morning Answer with Chris Stigall” says, “It’s been the highlight of my career to call Philadelphia morning radio my professional home for 12 years now. It’s so gratifying to work with principled, faith-first broadcast partners in Salem Media Group who genuinely respect their audience, their clients, and their broadcasters. Thank you to Salem Media, our sponsors and the smartest audience in all of radio for allowing me the privilege to continue hosting your morning show for years to come. All glory and honor to God!” Salem Philadelphia general manager Lorenzo Caldara adds, “Since the day Chris began with Philadelphia’s ‘AM 990 The Answer,’ he has engaged Philadelphians in intelligent and relevant conversation that has served to entertain and stimulate much thought in the minds of our audience. He has secured such an attentive audience that can’t wait to listen and call in to him everyday Monday through Friday.”

‘Smart Money Happy Hour’ Podcast Debuts at #1. The latest podcast from the Ramsey Network, “Smart Money Happy Hour,” debuted last week at #1 in Apple Business, #1 in Spotify Business and #19 in all Apple podcasts. Ramsey Network says the “Smart Money Happy Hour” is a mix of solid advice and snark from two friends who also happen to be money experts. Co-host Rachel Cruze says, “People will talk about almost anything these days, except money. These conversations shouldn’t be awkward or boring, but rather give listeners a sense of relief that they aren’t alone in their money journey – whatever circumstance or stage of life they’re in.” Co-host George Kamel adds, “The show is a good balance of real-life humor mixed in with money advice listeners can relate to. We’re willing to go there, have those conversations, and be that friend for you.” “Smart Money Happy Hour” topics include: Is Convenience Worth Being Broke? The TV Network That Brainwashed Us All; How to Leave a Royal Legacy for Your Family; and Can the Middle Class Still Afford to Go to Disney?

SRN’s Mike Gallagher Raises Funds for Hurricane Ian Relief. Pictured above in front of what’s left of a Venice, Florida car dealer’s lot is Salem Radio Network personality Mike Gallagher broadcasting live. In the wake of Hurricane Ian’s devastation in Florida and the Carolinas, Gallagher is broadcasting from disaster sites today (10/3) and is raising funds to help people impacted by the huge storm. Gallagher is partnering with Christian non-profit relief organization Food for the Poor to rush hurricane emergency kits and hurricane flood relief kits to impacted areas. Gallagher says, “This is what radio does best: opening the hearts and wallets of listeners to help fellow Americans they will likely never meet.”

TALKERS News Notes. A new deal between FOX Sports Radio and LaVar Arrington’s Up On Game Presents and Brinx.TV provides for distribution of programming across both platforms. The sports platform Brinx.TV is operated by John Brenkus – host of “Sports Science.” As part of the agreement, “The NIL House” will be the first joint property to be distributed by the Up On Game Presents podcast feed (available on iHeartRadio and everywhere podcasts are heard) and Brinx.TV. The venture launches today (10/3) at 3:00 pm ET. Arrington says, “We are thrilled to be partnering with a pioneer like John Brenkus and Brinx.TV. This relationship will dramatically expedite our slate of programming and positively impact the sports entertainment industry.”…..Cumulus Media’s news/talk KMJ-AM/FM, Fresno recently teamed with local agriculture company Gar Bennett to raise money for the Central California Food Bank for the 2022 Feeding Families Fund Drive. Gar Bennett Inc. matched every donation with 50 cents on the dollar as the effort raised $656,000 to fight hunger in the Central Valley. Cumulus Media Fresno VP and market manager Patty Hixson says, “I’m overwhelmed by the support of our community. We can always count on the generosity of our KMJ listeners! A special thanks to Karen and Greg Musson of Gar Bennett, Farm Credit and Amazon for their massive contributions and to our talented on-air team for their hard work on this important effort.”

Russia-Ukraine War, Hurricane Ian Aftermath, Economy/Financial Markets, Mar-a-Lago Documents Case, Brazilian Elections, and Indonesia Soccer Riot Among Top News/Talk Stories Over the Weekend. The move by Vladimir Putin to attempt to annex parts of Ukraine as he calls up more troops in Russia’s war against its neighbor; the aftermath of Hurricane Ian’s destruction of the Fort Myers-Naples region; inflation and the bear market that’s pushed the world’s financial markets to lows not seen since 2009; the battle between former President Donald Trump’s lawyers and the Department of Justice over the Mar-a-Lago records case; conservative Brazil president Jair Bolsonaro forces runoff election with opponent Luiz Inacio Lula da Silva; and the soccer riot in Indonesia that left 125 dead were some of the most-talked-about stories on news/talk radio over the weekend, according to ongoing research from TALKERS magazine.

Front Page News Industry News

Friday, August 5, 2022

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, is now posted. This new episode titled, “Mixed Messages,” looks back at this past week of 8/1 to 8/5. The program features guests (in order of appearance): Kevin Casey, executive editor, TALKERS; Harry Hurley, talk show host, WPG, Atlantic City; Jack Heath, talk show host, The Pulse of NH, New Hampshire; Richard Neer, talk show host, WFAN, New York; and Greta Van Susteren, talk show host, Newsmax TV. The show airs weekends (Friday evenings to Sunday nights) on almost 100 broadcast signals and networks across the U.S. and U.K as well as having developed a significant international following as a podcast. To listen to this week’s episode, please click here. To view the latest TALKERS topic research, please click here. “The Michael Harrison Wrap” is 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 Q2 2022 Revenue Up 10.7%. The company reports that its 2022 second quarter consolidated revenue was $954 million, an increase of 10.7% over the same period in 2021. For the quarter, iHeartMedia posted net income of $15.2 million compared with the net loss of $32 million it reported for Q2 of 2021. iHeartMedia reports financial data in three segments: the Multiplatform Group (broadcast, networks, and sponsorships & events), Digital Audio Group, and Audio & Media Services Group. The company says revenue from the Multiplatform Group increased $27.5 million, or 4.5% year-over-year, primarily as a result of the continued recovery from the impact of the COVID-19 pandemic. Broadcast revenue grew $12.2 million, or 2.7%, driven by higher spot revenue and political advertising revenue as 2022 is a midterm election year, partially offset by lower trade and barter revenue due to the impact of the timing of the iHeartRadio Music Awards show, while Networks grew $3.9 million, or 3.2%. Revenue from Sponsorship and Events increased by $9.5 million, or 33.2%, primarily as a result of the return of live events. Revenue from iHM’s Digital Audio Group increased $54.6 million, or 27.6% compared to the same period in 2021. Digital, excluding podcast revenue, grew $22.4 million, or 15.5%, driven by increased demand for digital advertising. Podcast revenue increased by $32.3 million, or 60.4%, driven by higher revenues from the development of new podcasts as well as growth from existing podcasts. iHeartMedia chairman and CEO Bob Pittman says, “We’re pleased to report another quarter of solid results for iHeart in terms of consumer usage, revenue and earnings growth and, most importantly, strong free cash flow generation. The Digital Audio Group continues to deliver industry-leading growth, and our Multiplatform Group continues to demonstrate that it is a growth engine for the company as well. As the #1 audio company in America across broadcast radio, digital radio and podcasting – and the largest consumer reach audio company in the U.S. by far, we remain committed to building our businesses for future growth and continuing to deliver both trusted companionship to our listeners and significant and unique value to our advertising partners.”

Audacy Q2 Net Revenue Rises 5%. Citing “declining macroeconomic conditions,” Audacy reports net revenue of $319.4 million, an increase of 5% over the same period in 2021. The company says that core spot revenue was $200.5 million – flat compared to the second quarter of 2021, and digital revenue was $69.3 million, up 19% compared to the second quarter of 2021. The company reports a net loss of $773,000 in Q2 of 2022 compared to the net income of $1.4 million it reported during the same period a year ago. Audacy breaks down its revenue by format categories and says that the news/talk category revenue (news/talk and all-news stations) was $51.8 million, an increase of 4.2% over the same period in 2021. Audacy president and CEO David Field comments, “After a very strong first quarter in which we grew revenues by 14% and significantly increased margin, our second quarter results were adversely impacted by declining macroeconomic conditions and ad market headwinds which reduced our top line growth to 5%. While we navigate the turbulent current market conditions, we are excited by our future growth potential across our scaled, multi-platform businesses, capitalizing on a number of important recent developments that include an enhanced national sales organization, expanded podcast and streaming audio networks, and during the second half of this year, the rollout of a new, reimagined digital platform and ad tech capabilities that will enable us to unlock pools of ad demand and supply that we can’t effectively monetize today. Our transformational development over the past couple of years has meaningfully enhanced our competitive position, strengthening our capacity to serve listeners and customers and enabling a powerful set of opportunities for revenue and EBITDA growth in the dynamically growing audio market.”

Audacy Gets Listing Standards Notice from NYSE. The company received notification from the New York Stock Exchange that its Class A common stock is not in compliance with the exchange’s continued listing standard requiring a minimum average closing price of $1.00 per share over 30 consecutive trading days. The notice does not result in the immediate delisting of the common stock from the NYSE. Audacy says it plans to notify the NYSE that it intends to regain compliance and is considering all available options that are in the best interests of the company and its shareholders. Audacy can regain compliance during a six-month cure period if, on the last trading day of any calendar month during the cure period, the common stock has a closing share price of at least $1.00 and an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month.

Salem Media Group Revenue Climbs 7.7% in Second Quarter of 2022. Reporting its financial data for the second quarter of 2022, Salem Media Group reveals total revenue of $68.7 million, an increase of 7.7% over the same period in 2021. The company also reports net income of $9.1 million, an increase of more than 300% from the net income of $2.25 million reported in the second quarter of 2021. Salem reports in three segments: Broadcast, Digital Media, and Publishing and for Q2 of 2022, net broadcast revenue increased 12.1% to $52.5 million. Digital Media revenue increased 4.5% to $10.8 million, while Publishing revenue decreased 18.5% to $5.4 million.

Saga Communications Second Quarter Net Revenue Up 6.3%. For the second quarter of 2022, Saga Communications, Inc posts net revenue of $29.8 million, an increase of 6.3% over the same period in 2021. Station operating income increased 10.6% to $9.3 million and operating income was $5.4 million compared to $4.6 million for the same quarter last year. Free cash flow was $3.2 million in Q2 of 2022 compared to $4.2 million for the same period last year. Capital expenditures for the quarter were $2.6 million compared to $921 thousand for the same period last year. Capital expenditures for the quarter included the $1.1 million purchase of a building in Norfolk, Virginia that will replace the company’s existing leased studio and office facility. Saga reports net income of $3.8 million for the second quarter of 2022 compared to net income of $3.3 million for the same period a year ago.

Audacy and CBS Sports Digital Patner for Content Distribution and Ad Sales. This exclusive, multi-year deal between Audacy and CBS Sports Digital makes Audacy the exclusive, ad sales and distribution partner for CBS Sports’ network of sports podcasts. The press release states that CBS Sports Digital has grown to reach more than 90 million monthly active users, making it the second-largest sports group in the U.S, and with more than 65 shows and nearly 100 million downloads in 2021. Audacy EVP of digital sales Ken Lagana says, “We are incredibly excited to be partnering with CBS Sports in the podcasting space – properties I know well from my time spent there. Adding this family of content to our roster provides Audacy with a number of the leading sports, fantasy sports and betting podcasts, areas we have enjoyed significant success to date and are important to our clients.  This partnership could not come at a better time with football season fast approaching.”

TALKERS News Notes. The John Fredericks Media Network announces a programming agreement for the newest member of its growing portfolio of radio stations as the network’s programming is now airing on Chesapeake-Portsmouth Broadcasting Corporation’s WTJZ-AM, Portsmouth, Virginia. JFMN chief operating officer Anne Fredericks says, “The Norfolk market is critical to our Virginia network as it represents the biggest U.S. naval base in the world at a very uncertain time for our nation’s Navy personnel. The uncertainty of potential hostility in the Asian perimeter and the South China sea makes this opportunity more important than ever. We will continue to provide all our listeners with extensive and in-depth coverage of China’s military and economic moves in the area, as well as top-flight analysis of the evolving events.”…..FOX Sports Radio’s LaVar Arrington announces an addition to his Up On Game Presents podcast lineup as musician, songwriter and creative director Flash Garments launches the “Under Appreciated with Flash Garments” show. Arrington says, “We’re super excited to have Flash Garments join the Up On Game Presents lineup with the launch of his ‘Under Appreciated’ podcast. Flash knows everybody, is very well respected, and has a lot to say! I think listeners will really enjoy this inspiring and enlightening program, and we look forward to sharing it with our audience every Friday!”…..WNRI, Woonsocket, Rhode Island talk host John DePetro has been filling in this week for WPHT, Philadelphia’s Dawn Stensland on her 10:00 am to 12:00 noon program…..The GCN-syndicated program “Classic Radio Theater with Wyatt Cox” adds new affiliate stations as KVOE-AM, Emporia, Kansas and KGEZ-AM, Kalispell, Montana adds the show to their program schedules. Cox comments, “I grew up on Sunnyslope Street in Emporia and listened to KVOE, enjoying some of the great music of the 60s and the fun personalities like the late Roger Hartsook. It’s a source of pride to be back in Emporia, if just virtually, every weekday.”

Video Tribute to Rich Stevens. The radio personality died on July 30 after suffering a heart attack. Rich Stevens enjoyed a career in music radio as well as in the talk radio format, hosting a program on Hubbard Radio’s WFTL, Fort Lauderdale. “Radio’s Best Friend” Art Vuolo put together a tribute video that you can see here.

The Economy Top News/Talk Story for Week of August 1-5. The state of the U.S. economy – the still-high cost of food and gasoline and the threat of a recession – was the most-talked-about story on news/talk radio this week, landing atop the Talkers TenTM. At #2 this week was a tie between partisan politics, the elections, and abortion rights, followed by House Speaker Nancy Pelosi’s trip to Taiwan tied with the related U.S.-China relations at #3. The Talkers TenTM is a weekly chart of the top stories and people discussed on news/talk radio during the week and is the result of ongoing research from TALKERS magazine. It is published every Friday at Talkers.com. See this week’s complete chart here.