Beasley Reports Q2 Net Revenue Down 53.7%. The second major radio group to report its second quarter 2020 financial numbers (Urban One reported last week) is Beasley Broadcast Group and the company says that net revenue was $30.4 million – a decrease of 53.7% from the same period in 2019. It reports an operating loss of $17.6 million, compared to Q2 2019’s operating income of $10.7 million, and a net loss of $18.2 million, compared to Q2 2019’s net income of $4.3 million. Beasley CEO Caroline Beasley states, “While Beasley had a strong start to the year, a sharp decline in commercial advertising occurred in the second quarter with the onset of the COVID-19 pandemic. Beasley’s financial results for the three-month period ended June 30, 2020 reflect the economic pressures we experienced across our business as local and national advertisers adapted their media plans to meet the unique challenges of the pandemic. While we saw sequential month-over-month improvement in our commercial advertising revenue performance from April to May, and from May to June, our total net revenues for the second quarter decreased nearly 54%, which is in line with reported overall industry levels. To address the reduction in traditional advertising revenue that has occurred as a result of the pandemic, during the second quarter, we quickly implemented several changes across the company, including reducing operating expenses and corporate overhead and realigning our company-wide cost structure to preserve cash. As a result, Beasley’s second quarter total operating expenses declined by 12.7%, and year-to-date, we have taken approximately $26 million out of our cost structure. In addition to these actions, as part of our response, we have taken proactive steps to accelerate our digital transformation initiatives and revenue diversification strategies, and to become a leaner and more efficient organization, with the goal of growing our market leadership position across our stations, our digital operations, and our esports interests. We believe these steps will allow us to emerge from the pandemic as a stronger company. In addition, during the second quarter, Beasley entered into an agreement to amend the financial covenants and other provisions under our credit agreement to support our liquidity and capital structure as we manage the business through the pandemic.”
Round One of July PPM Ratings Released. The first of four rounds of ratings data from Nielsen Audio’s July 2020 PPM survey has been released for 12 markets including: New York, Los Angeles, Chicago, San Francisco, Dallas, Houston, Atlanta, Philadelphia, Nassau-Suffolk (Long Island), Riverside-San Bernardino-Ontario, San Jose, and Middlesex-Somerset-Union (New Jersey). Nielsen’s July 2020 survey period covered June 18 – July 15. You can see all the 6+ data from subscribing stations here. Also, today TALKERS magazine managing editor Mike Kinosian presents his Ratings Takeaways for this group of markets. Both of Entercom’s New York all-news outlets lose ground. WINS dips four-tenths to a 3.8 share and the #7 rank in the market and WCBS-AM is off six-tenths and finishes ranked #14. In Los Angeles, iHeartMedia’s news/talk KFI gains three-tenths to finish the July 2020 survey with a 4.7 share and the #2 rank. Entercom’s Chicago all-news WBBM-AM/WCFS-FM adds one-tenth for a 7.0 share and finishes at #1 for the sixth straight survey. Across town, Nexstar’s WGN-AM drops eight-tenths to a 3.3 share and ranks #9 in the market. Cox Media Group’s WSB-AM/WSBB-FM, Atlanta adds two-tenths for a 10.6 share and takes the #1 rank for the 13th straight survey. See Mike Kinosian’s complete report here.
Former KNBR, San Francisco Host Ralph Barbieri Dies at 74. Bay Area sports talk radio legend Ralph Barbieri died on Monday (8/3) at age 74 after a long battle with Parkinson’s disease. The San Jose Mercury News reports his passing at his home in Novato, California. Barbieri – dubbed “The Razor” for his raspy voice – worked with Tom Tolbert in afternoons as “The Razor and Mr. T” for 15 of the 28 years he served with KNBR, San Francisco. He was diagnosed with Parkinson’s in 2005 and kept it to himself until 2011. He was let go by Cumulus Media in 2012 and sued the company complaining that he was fired because of his age and his health condition. The suit was later settled confidentially.
COVID-19 Statistics & Projections/Mask Debate, Stimulus Package, Presidential Race/Primary Elections, BLM/Portland Protests, Microsoft-TikTok Deal, Manhattan DA’s Trump Investigation, Isaias/Apple Fire, and Pro Sports Leagues Among Top News/Talk Stories Yesterday (8/3). The rising number of positive COVID-19 cases in numerous U.S. states, projections for future cases, and the ongoing debate over wearing masks in public; the status of the GOP-crafted stimulus bill; the November presidential election and today’s primary races in five states; the Black Lives Matter movement and the ongoing clashes in Portland; the battle over the app TikTok and the potential sale to Microsoft; the Manhattan DA’s investigation into the Trump Organization; Tropical Storm Isaias makes landfall and Southern California’s Apple Fire; and U.S. pro sports leagues navigate positive COVID-19 tests from players and coaches were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
TALKERS News Notes. The New York Post reports that ESPN’s NYC O&O WEPN-FM’s new program schedule will include the first three hours of the ESPN Radio morning drive show “Keyshawn, Jay and Zubin” starring Keyshawn Johnson, Jay Williams, and Zubin Mehenti. The local show hosted by Rick DiPietro, Chris Canty, and Dave Rothenberg moves to the 9:00 am to 11:00 am slot, followed by the local Bart Scott and Alan Hahn show from 11:00 am to 1:00 pm. WEPN will air the second hour of Mike Greenberg’s network show, “Greeny,” from 1:00 pm to 2:00 pm and the first hour of the network’s Max Kellerman show from 2:00 pm to 3:00 pm. The Michael Kay show remains from 3:00 pm to 7:00 pm and Chris Carlin continues hosting the evening show…..FOX Sports Radio is launching a new iHeartRadio original daily podcast called, “Straight Fire with Jason McIntyre” on the iHeartPodcast Network. The podcast features FSR weekend host and FS1 contributor Jason McIntyre “providing bold opinions on the biggest stories in sports, including the day’s major sports betting topics.” McIntyre says, “I’m beyond thrilled to have this podcast opportunity. I can’t wait to bring my unique enthusiasm and passion to the platform at a time when America’s appetite for sports is at an all-time high.”…..Cox Media Group’s WOKV-AM, Jacksonville “ESPN 690” – via rightsholder Learfield IMG College – solidifies its place as the official Jacksonville station for Florida State University sports play-by-play. The new deal means “ESPN 690” will broadcast live all football and men’s basketball games for the upcoming 2020-21 athletics season…..Entercom’s Cadence13 unveils an exclusive podcast partnership with veteran NBA star JJ Redick and his new podcast company ThreeFourTwo Productions that will launch his new show, “The Old Man & the Three,” from the NBA bubble in Orlando. The weekly show is being co-hosted by writer and producer Tommy Alter…..Talk host Tom Donahue announces that his program is now a weekly show and is being aired on new affiliate WFYL, King of Prussia, Pennsylvania…..iHeartMedia is working with FlynnPictureCo., Psychopia Pictures, and UpperRoom Productions to produce the original, 10-part sci-fi podcast “There Be Monsters” that will be available on the iHeartPodcast Network. The podcast stars John Boyega and Darren Criss. Boyega plays Jack Locke, the mysterious hero with a vendetta who infiltrates a Silicon Valley body-hacking startup run by an enigmatic CEO Max Fuller, played by Criss, whose highly secretive creations promise to enhance human biology in incredible ways – but every drug has a side effect…..SiriusXM announces it is airing comprehensive play-by-play and talk coverage of the 2020 PGA Championship, taking place August 6-9 at TPC Harding Park in San Francisco. It will be golf’s first major championship played in 2020 due to schedule adjustments made necessary by the COVID-19 pandemic and SiriusXM will bring listeners inside the ropes with a team of broadcasters calling the action both from remote studio locations and on site at TPC Harding Park.
Entercom Partners with Vewd to Expand Smart TV Footprint. The digital platform RADIO.COM is expanding in the smart TV sphere as Entercom enters into a relationship with smart TV OTT software provider Vewd. Entercom says that as part of the partnership, “tens of millions of smart televisions, including Sony, Philips and Hisense, will have access to RADIO.COM, the exclusive digital home for all Entercom content across its leading portfolio of over 230 stations, along with hundreds of affiliate stations, thousands of top podcasts, live and on-demand video, and premium content across local and national news, entertainment, music and sports in markets all across the U.S.” Entercom VP of corporate business development David Rosenbloom says, “Connected televisions and smart home devices are the fastest growing segment of RADIO.COM’s rapidly growing audience, with significant demand from both consumers and advertisers. By partnering with Vewd, who powers tens of millions of leading-brand smart televisions, users now have our robust library right at their fingertips.”
Music Radio News and Career Moves. In Los Angeles, Entercom’s six-station cluster has begun the fundraising campaign called “RADIO.COM’s Feed Our Families,” in partnership with the Los Angeles Unified School District. The month-long, text-to-donate fundraiser benefits local students and families in need. Entercom regional president Jeff Federman says, “Schools are a primary source of meals not only for many students but for their family members as well. We’re delighted to partner with Los Angeles Unified School District to amplify our stations’ collective voice so no child or family member in Southern California goes hungry during these unstable times. We look forward to actively promoting the organization’s selfless efforts over the next month and using our platforms to serve our communities.”…..Atlantic Gateway Communications’ Christian contemporary WGTS-FM, Washington, DC held its popular Summer Concert Series at Tysons Corner Center virtually this year since rule wouldn’t allow listeners to congregate in the outdoor plaza venue. The WGTS team shot part of the concert in advance at the plaza at the mall. Part of the concert came from Matthew West’s “Story House” and the rest of the concert was hosted from the WGTS video studio. WGTS music director and webmaster Rob Conway says, “This was something we’ve never done before, so it made us a little nervous. Thankfully all of the technical details came together and it turned into a great listener experience.”…..Premiere Networks announces today that “CMT After MidNite with Cody Alan” is joining American Forces Network (AFN) and will air from 12:00 midnight to 5:00 am.