Cumulus Media Q1 Net Revenue Down 11%
Cumulus Media’s net revenue for the first quarter of 2023 was $205.6 million, a decline of 11% over the same period in 2022. The company’s net loss ballooned to $21.4 million from the net loss of $905,000 it reported in Q1 of 2022. Breaking down Cumulus’ revenue by segment, total broadcast revenue was $148 million – down 12.5% year-over-year – led by network revenue (-22.9%), and followed by spot revenue (down 6%). Digital revenue was $32 million, up just 0.6% over the first quarter of 2022. Cumulus Media president and CEO Mary G. Berner comments, “Extending our track record of strong operational and financial execution during
challenging times, in the first quarter, we grew our digital marketing services revenue by more than 23%, completed the sale of WFAS-FM, continued to repurchase shares and retire debt at a discount, and have now executed $10 million of additional annualized cost reductions. That said, the impact of the considerable macro-driven weakness in the national advertising market, as well as the unfavorable prior year political and WynnBET comparisons, ultimately resulted in total revenue and Adjusted EBITDA declines. Though the difficult national market trends persist, we have confidence in our ability to successfully navigate adverse environments such as this one. Specifically, since 2019 through the COVID-impacted years, we have had best-in-class performance in terms of fixed cost reduction, Adjusted EBITDA margin recovery, Adjusted EBITDA to free cash flow conversion and net debt reduction. With our current liquidity profile and solid balance sheet, we believe that we are not only well-positioned to weather the current storm but will rebound strongly when the market eventually recovers.”
WCBM. Her energy, passion, and commitment to Baltimore are second to none and we know that our listeners will appreciate her insights on the issues that matter most to them. Klacik says, I am excited to join the team at WCBM and have the opportunity to engage with listeners in the Baltimore area. I believe that conservative principles and policies are the key to unlocking the potential of this great city, and I look forward to sharing my ideas and insights with the WCBM audience.” Regarding the decision to replace Derek Hunter, the station says the decision was not made lightly. “It was a result of WCBM’s ongoing efforts to better serve its listeners by offering more diverse programming options. While Derek Hunter has a loyal following, the station decided to go in a different direction to attract a broader audience.”
that national sports talk radio networks are “in a losing race against time.” Reimer says that long ago, sports fans were starved for sports talk and would tune in to national programming like ESPN’s. But now, he says, “The whole idea of national sports radio is anathema to the concept of destination programming. The content is supposed to be boilerplate, because hosts are expected to placate listeners across the country.” Fans who want to hear national sports hosts like Dan LeBatard or Bill Simmons can simply download their popular podcasts. 
30 years as the first female co-anchor of ‘Atlanta’s Morning News.’ With a little back-of-the-envelope math, I calculate I’ve written more than 300,000 stories over those three decades. Now it’s time for me to write a new chapter.” Station news director Amanda Moyer comments, “Marcy has been a leader and an example in our newsroom for more than three decades. Her recent Gracie award win is the perfect cap to her long tenure at WSB as the first, and to this day, the only female lead news anchor on ‘Atlanta’s Morning News.’ She will be deeply missed, but our loss is her granddaughter’s gain.”
number of radio station affiliates, station size and market that was the foundation for the list. A special highlight of this year’s Benztown 50 is the presentation of the voiceover industry’s highest honor, the Chris Corley Lifetime Achievement Award, which will be presented to legendary voiceover talent, Earl Mann. A prolific voiceover artist from Canada, Mann started his career as a singer for the 1960s American folk band, the Gaslight Singers. He was an all-night disc jockey on radio stations CKEY and CHFI in Toronto in the 1960s and1970s. Sports fans will recognize Mann as the “voice of the NFL” through his work for NFL Films, as well as the voice of several college football programs and numerous NFL teams. 
followed by NPR Member Stations at #2 (76,679 AAS) and Audacy at #3 (57,595). Cumulus Streaming Network was #4 (42,504 AAS). Beasley Broadcasting Corporate ranked #6 (19,635 AAS), Hubbard Broadcasting was #8 (15,635 AAS), and Salem Communications ranked #11 (8,738 AAS). 
WTN is one of America’s best live and local talk stations in one of our nation’s best cities. You need to be relevant and able to talk about local and national issues, weave through interviews and audio seamlessly and handle segments and hours with or without phone calls. This isn’t a job for a beginner, but a seasoned professional who knows how to entertain and inform! 
manager. ‘97.1 The Fan’ is the flagship station for all Ohio State Athletics as well as NHL’s Columbus Blue Jackets and the MLS Columbus Crew. ‘The Fan’ is also the Columbus home for Cleveland Browns football. Our legacy properties boast one of the top-rated ESPN affiliates in the United States as well as a statewide network of over 80 stations and a digital platform of full-service digital solutions. This position reports to the president and general manager of WBNS-TV.” 
compared to the net loss of $3.7 million in Q1 of 2022. Beasley CEO Caroline Beasley states, “Beasley’s strong first quarter financial operating results highlight our continued local audio leadership and the ongoing success of our digital transformation and revenue diversification initiatives which are driving top-line and SOI (station operating income) growth. Despite ongoing challenges related to the economy and softness in the national spot market, Beasley generated healthy growth across its digital, local audio, and network revenue sources, as reflected by the 3.7% increase in first quarter net revenues to $57.8 million. Top-
line growth was the primary factor contributing to an impressive 21% year-over-year increase in SOI to $7.1 million. Our digital strategy delivered first quarter digital revenue growth of 27.8% year-over-year and accounted for 17.3% of total first quarter revenue. Similar to recent quarters, strong digital revenue performance was driven by Beasley’s organic content creation initiatives and the roll-out of our tailored web services. Beasley continues to see accelerating demand from consumers for our innovative digital content, with our unique digital users more than doubling over the prior year quarter, resulting in a more than 90% year-over-year increase in sellable digital impressions. We believe we remain on path for this revenue source to reach 20% of total revenue by 2023 year-end.” Total outstanding debt as of March 31, 2023 was $290 million, and first quarter interest expense slightly declined to $6.6 million. Beasley had $35.9 million of cash and cash equivalents on hand at quarter end. We intend to keep our cash on the balance sheet in order to maintain our strong liquidity position, while we monitor the economic environment.”
executive to his most recent post, EVP sales and sports partnerships.” Westwood One president Suzanne Grimes says, “Brandon is a natural leader with a smart, strategic approach to the business that will enable us to manage through these economic headwinds and beyond with confidence, commitment, resilience, and results. With his unparalleled command of our powerhouse sports business, proven success with integrated, and multi-platform client-focused selling, Brandon is uniquely well-suited to lead the team.”
syndicated radio health-based talk show continues to gain affiliates, was recently appointed the role of “ringside physician” for Impact Wrestling which doubles as a serious medical position as well as an entertainment position. Doctor Asa tells TALKERS, “The NFL, just like combat sports, includes years of high-impact play, raising concerns for long-term wellness. Concussions, joint injuries, cardiovascular health, obesity, and neurological complications are the norm as the average career for 
an NFL player is very short.” Doctor Asa will be speaking and educating as the leading health and wellness voice for NFL Franchises and Alumni with strategies for optimal health, performance, and longevity. He continues, “The NFL is a worldwide sports giant with some of the greatest athletes. The players are the ones we need to make sure are in the best position to enter the sport well and exit with their greatest win, their health. NFL Alumni Health has a passion to educate the players for better current play health and longevity choices which creates a better post-play outcome. Many former NFL Alumni Players are losing quality of life and facing serious health challenges. NFL Alumni Health is on a mission to create a better way. I’m here to be the voice, the storyteller, and catalyst to inspire the NFL and its Alumni, and influence others to reach their potential and becoming the best version of themselves.” Dr. Asa Andrew will be speaking on “The Big Picture” panel at TALKERS 2023, June 2 at Hofstra University.
Newsmax saw this agreement as both an opportunity to join with a respected leader in multimedia, Telecom Serbia, but also to strengthen America’s ties with the people of Serbia and the Balkans. The United States and Serbia were allies in both World Wars, share a common desire to overcome the destructive legacy of communism in East Europe, and both continue to support democratic societies. We believe that millions of Americans, Serbs and others will see us as an important source of information that they can trust.”
goes on to say, “P&G’s commitment to minority owned broadcasters and its stewardship of diversity, equity and inclusion is unparalleled as evidenced by its founding sponsorship of ‘More than that with Gia Peppers’ audio series, its transformative strategic alliance with NABOB and Reset Digital to steer more digital investment to black-owned broadcasters, and its ‘Lead with Love’ community impact program activated in partnership with Katz Radio Group and RAB.” RAB president and CEO and chair of the Radio Creative Fund, Erica Farber, says, “Procter & Gamble continues to be a tremendous partner to the radio industry. The ongoing collaboration with P&G and its agencies is driving results among our shared consumers, and we look forward to their continued innovation and thought leadership in audio.”
in Music City! We’re looking for a content-driven morning host or duo that fits a rock/classic rock lifestyle. If you believe in the power of radio to connect to an audience, aren’t afraid to step outside the box a little bit, and can create a morning SHOW that’s engaging, interactive, and local, we want to hear from you! Please send audio and materials to 
The decision to change WABC from music to talk back in 1982 was not made by corporate, it was made by its then-program director, Jay Clark. Corporate was hoping he would approve the change, “they” lobbied for it, but the call was the ultimate responsibility of the program director. The business plan for WABC as a talk station predicted it to be profitable in year 10. (That’s because KABC, Los Angeles took 10 years to turn a profit.) As it turned out, WABC turned a profit in year 11.
conservatives were likely to cheer the news of Lemon’s dismissal, the Carlson departure was far more nuanced as it came a week after FOX agreed to a $787 million settlement with Dominion Voting Systems and after discovery in the case revealed 
texts that offered a behind-the-scenes look at FOX News personalities’ frank opinions about the 2020 election, January 6, and their co-workers and bosses. The breaking news even prompted the vacationing Mike Gallagher to find a studio in London from which to do a special edition of his Salem Radio Network program today (4/25). Salem VP/news & talk programming Tom Tradup says, “Mike Gallagher’s programming instincts are second to none. Despite being on vacation overseas, he recognized the importance of the Tucker Carlson departure and insisted on parachuting back into his talk show to give listeners the chance to sound off of what likely will be one of the biggest political stories on 2023.” 
Many years ago, I received a late-night call from a legendary radio talk show host who had just been let go by management at the iconic major market station where he had been presiding over the airwaves for several decades. His ratings had begun to downtrend a bit, but he still was a big draw for audience and advertisers. He was one of the biggest names in talk radio history and his still-sizable audience loved him. Thus, the unexpected news of his severance blindsided him with a wallop and surprised the heck out of the biz. Everyone was buzzing about it.
state-of-the-art broadcast complex that will operate from the heart of South Beach. Stern will broadcast live May 1-3 from Miami in what SiriusXM calls “a star-studded week of programming live from SiriusXM Miami.” Stern will be joined live in the studio by special music and celebrity guests. The new SiriusXM Miami studios features a 50-seat performance space and several artist-first radio and recording studios, in addition to office space.
One out of three American AM/FM radio listeners are reached monthly by AM radio. From the Edison study: 1) AM/FM radio dominates listening in the car with an 88% share of ad-supported audio; 2) AM/FM radio’s near-90 share of in-car ad-supported audio has been steady as a rock for the last six years; 3) AM/FM radio’s ad-supported shares in the car are dominant across all demographics, even among 18-34s; and 4) ‘Perception’ vs. ‘reality’: Agencies and advertisers underestimate AM/FM radio shares and overestimate Pandora and Spotify audiences (‘Perception’ from Advertiser Perceptions data). MRI Simmons shows Ford owners represent 20% of all U.S. AM radio listeners and are more likely to listen to AM radio. Cumulus chief insights officer Pierre Bouvard comments, “AM stations serve very unique, targeted constituencies and represent many languages and voices. As automobile manufacturers consider eliminating AM radio, it’s important to underscore that the AM dial is one of the most diverse media platforms in the world. Why would we eliminate this variety from the car?” 
I’m one of the lucky ones. In my marketing work I get to speak with radio/audio sellers and managers around the country at companies privately and publicly owned, as well as that increasingly rare breed – the radio station owner/operator. They all share one common fault. Yes, I said fault. Can you guess what it is? Probably not, because you too may share the same fault.
Every time I visit a station, I meet with sales, and I leave ’em a thumb drive of “spots that have produced results elsewhere, for businesses just like yours,” magic words on local direct retail sales calls. Help yourself to these, all of which produced results.
Football, Masters, plus sports talk networks CBS Sports Radio and BetQL. Maguire reports to Stuart Greenblatt, SVP of affiliate sales for Westwood One. Maguire, who has served in management roles at stations including WMVP, Chicago; WQAM, Miami; KDKA, Pittsburgh; and KIRO-AM, Seattle, says, “I’m thrilled to have the opportunity to work with Westwood One Sports. They have long established themselves as best-in-class content curators and syndicators. I’m excited to team with our affiliate stations and partners to help them achieve success utilizing our many assets.”