iHeartMedia Reports Q2 Revenue Up 4%. The privately-owned iHeartMedia announces its Q2 financial numbers and reports revenue was $841 million – up 4% compared to the same quarter in 2014 – and stating that it saw “strength across the business (core local and national broadcast advertising revenue, traffic and weather business, syndication business and events).” The company says its expenses rose 5% year-over-year attributable to “event production costs, timing of barter and trade expenses, sales compensation expense and costs related to music licenses and performance royalties.” Chief operating officer and chief financial officer Rich Bressler says in a press release, “We’re pleased with the revenue and OIBDAN growth we achieved this quarter. We continue to invest in our capabilities across both iHeartMedia and outdoor to realize the full value of our multi-platform assets. With no significant debt maturities until 2018, we can continue focusing on growing the top and bottom lines across our business segments.” Total debt for the media giant is reported as just shy of $20.4 billion.
Stigall: The Importance of Talk Radio. WPHT, Philadelphia morning drive host Chris Stigall writes in a piece published in TALKERS today about recent events that have given him pause to reflect on the value of talk radio to the greater society. Stigall says that an important cog in the media machine would be missing if talk radio did not exist. He says, “Call talk radio propaganda if you’d like, but it can only thrive if it offers something consumers want to hear and delivers results to advertisers and sponsors. I know in our show’s case we’re blessed with both. Whether it’s Limbaugh’s leading voice of conservatism, Levin’s case for millennials to engage in their country’s political future, Hannity’s demands for more scrutiny of a taxpayer-funded entity, or simple assessments of current and future leaders’ character – talk radio is the only place it’s found consistently.” Read Stigall’s entire piece here.
iHeartMedia Charlotte Hikes Hotchkiss to Market President. Senior vice president of sales Keith Hotchkiss is elevated to market president of iHeartMedia‘s six-station Charlotte operation. Hotchkiss remarks that, “iHeartMedia Charlotte boasts some of the most talented on-air hosts, programmers, and sales professionals in the country. It is my goal to lead and expand, providing innovative solutions for our client partners across all our platforms, while also creating the best radio for our listeners. This is an exciting time to be in the radio industry. I could not be more proud to represent one of the world’s most enterprising media companies in one of the nation’s greatest cities.” Prior to being transferred to Charlotte, Hotchkiss spent more than 15 years at the company’s Cleveland cluster, where he ultimately became general sales manager. With (6+) Nielsen Audio June 2015 PPM market share and market rank in parentheses, iHeartMedia’s Charlotte cluster consists of country WKKT “The Kat” (7.3, #3); classic rock WRFX “The Fox” (6.5, #4); adult hits WLKO “The Lake” (6.3, #5); CHR WHQC “Channel 96-1” (5.3, #7); and WEND “New Rock 106.5 – The End” (3.1, #12 ). WRFX-HD2 “Fox Sports FM 98.7″ does not appear in Charlotte’s June sweep.
Odds & Sods. The news/talk format airing on WMEL, Cocoa Beach, Florida and operated by John Harper’s Broadcast House LLC will move to Genesis Communications’ WIXC (licensed to Titusville, Florida) beginning Sunday, August 9. Rama Communications has been leasing the station to Broadcast House…..Matt Jones’ “Kentucky Sports Radio” will continue to be heard on stations in the Blue Grass State as Jones renews with the network. The show airs from 10:00 am to 12:00 noon on WKJK, Louisville; WLAP, Lexington; and other iHeartMedia stations across the state using the Kentucky News Network…..Christopher “Jack” Johansing is promoted to marketing director at Benztown. He’s been with the company for the past five years serving as coordinator, web, marketing & affiliate relations.
Cecil the Lion Case, 2016 Presidential Candidates-Trump Criticisms, Planned Parenthood Videos Scandal, Iran Nuclear Deal, Bill Cosby Rape Allegations, Samuel DuBose Slaying, Lois Lerner-IRS Case, and the NFL’s Tom Brady Decision Among Top News/Talk Stories Yesterday (7/29). The case of the Minnesota dentist who hunted a protected lion in Zimbabwe and the public outcry; the activities of the candidates for president in 2016 and the intense scrutiny of Donald Trump; the aftermath of the release of videos showing Planned Parenthood doctors haggling over the price of body parts from abortions; the proposed nuclear deal with Iran; the rape allegations being leveled against Bill Cosby; the slaying of unarmed motorist Samuel DuBose in Cincinnati by a police officer; new allegations of Lois Lerner destroying evidence in the IRS scandal; and the NFL’s upholding of the four-game suspension of Tom Brady were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS.