Wednesday, November 9, 2022
Townsquare Media’s 2022 Third Quarter Net Revenue Soars 8.4%. Third quarter net revenue was $120.6 million – an increase of 8.4% over the same period in 2021. Townsquare Media reveals in its 2022 Q3 financial report that net income for the quarter decreased $10.1 million to $2.8 million, as compared to $12.9 million in the same period in 2021, primarily driven by non-cash impairment charges to the company’s FCC licenses of $10.3 million. Townsquare Media breaks its financial reports in to three
operating segments. For the third quarter of this year, Digital Advertising net revenue increased $6.5 million, or 21.3%; Subscription Digital Marketing Solutions net revenue increased $2.1 million, or 9.7%, as compared to the same period in 2021 due in part to the addition of approximately 850 additional net subscribers during the third quarter of 2022; and Broadcast Advertising net revenue increased $2 million, or 3.4%, compared to Q3 of 2021. Townsquare CEO Bill Wilson comments, “I am proud to report another record 
setting quarter of results that clearly demonstrate the undeniable success and differentiation of Townsquare’s transformation into a Digital First Local Media company. The Townsquare team reached all-time Q3 highs with net revenue growth of 8% year-over-year, and Adjusted EBITDA growth of 6% year-over-year, meeting our Q3 guidance. In addition, net leverage declined to an all-time low of 4.54x as we continue to make progress towards our 4x net leverage target. Our growth engine has been and will continue to be our digital solutions, which were the primary driver of our third quarter growth, accounting for half of Townsquare’s total revenue and total profit. Total digital revenue increased 17% year-over-year in the third quarter, and trailing 12-month digital revenue grew to $225 million. As a uniquely positioned Digital First Local Media Company focused principally on markets outside of the top 50 in the United States, Townsquare has a resilient digital growth engine supported by both a recurring subscription digital marketing solutions business, with a large addressable market and limited competition, and a highly differentiated digital advertising technology platform.”
Ramsey Solutions to Give Free Finance Course to 1,000 Veterans in Recognition of Veterans Day. In honor of Veterans Day this Friday (11/11), Dave Ramsey announces that he is giving away access to his company’s Financial Peace University for 1,000 veterans on “The Ramsey Show.” Ramsey Solutions says the nine-lesson digital
personal finance course has helped millions take control of their money for 30 years. Veterans who enter their information on the company’s website and are selected, will be able to join a class in-person or go online to watch videos on-demand as they learn the fastest way to pay off debt, save for emergencies and invest for the future. Military members list financial troubles among their top stressors. In the first 90 days of working the FPU plan, the average household pays off $5,300 of debt and saves $2,700 for emergencies.
KFI, Los Angeles Set to Begin 12th Annual Pastathon with SoCal Wendy’s Restaurants Joining the Cause. The annual KFI Pastathon charity event that encourages listeners to donate money, pasta, and sauce to benefit Caterina’s Club gets underway on Tuesday (11/15) and includes new partner Wendy’s restaurants in Southern California. The iHeartMedia news/talk station says that Caterina’s Club
provides more than 25,000 nutritious meals every week to children in need in Southern California. The charity also helps families get back into stable home environments and teaches teens the skills they need to work in the hospitality industry. This year, all 168 Wendy’s restaurants in Southern California will offer their customers a donation option from November 16 through December 4. In addition, on November 29, ‘Giving Tuesday,’ these Wendy’s will also donate $1 from every Frosty sold to the KFI PastaThon. With the help of listeners, local businesses, and the continued partnership with Smart & Final stores and Barilla Pasta, the 2021 event raised a record-breaking $1 million dollars and 115,000 lbs of pasta and sauce. Since 2010, the KFI PastaThon event has raised over $4.6 million and 700,000 pounds of pasta and sauce for children in need in the community. KFI program director Robin Bertolucci states, “We are so delighted to have Wendy’s partner with us on our efforts to feed Southern California kids. Because of generous partners like Wendy’s, Chef Bruno is feeding over 25,000 kids every week. As we embark upon our 12th annual KFI PastaThon we know the need is bigger than ever but so are the hearts of our listeners and partners. Our goal this year is to once again raise over a million dollars. Thank you to Wendy’s for helping us make that dream a reality!”
Radio and Podcast Power Session Being Made Available for Colleges & Universities. The Library of American Broadcasting Foundation (LABF), in partnership with Benztown, the University of Maryland and the Broadcast Education Association (BEA), are creating a produced 90-minute, on-demand recorded Zoom video session focused on radio and podcasting for colleges and universities utilizing the LABF collection. The LABF Radio and Podcasting Power Session initiative, led by LABF board members Dave “Chachi” Denes – Benztown president – and BEA executive
director Heather Birks, features University of Maryland reference specialist Michael Henry hosting a virtual walk-through of the library, followed by an insightful conversation about the vast collection highlighting incredible moments in U.S. history captured through the eyes and voice of television and radio broadcasters. Additionally, industry professionals from across different disciplines of the podcasting and radio business, including radio executive Mike McVay along with Benztown’s R Dub! from “Sunday Night Slow Jams”, Darren Silva and MJ Bloch, Tom Green, Susan Aksu, Beasley Media Group chief revenue officer Tina Murley and other experts speak to the students about the many career opportunities available to them in the industry. Denes says, “Everyone involved with this program is passionate about radio and podcasting. It’s an absolute honor to be able to share our knowledge with students that will someday be leading the industry.” The initiative initially launched as a semester-long course with Clark Atlanta University in 2021. The school is the first to utilize the 2022 90-minute abridged class-offering. It will be available to colleges and universities.
TALKERS News Notes. A new deal between Cumulus Media’s news/talk WLS-AM and Motor Racing Network will have the station airing the NASCAR Cup Series beginning in 2023. This three-year pact comes on the heels of the news that the City of Chicago
has signed a three-year deal with NASCAR as the home of the first-ever Chicago Street Race. The unprecedented 12-turn, 2.2-mile Chicago Street Race will take the Cup Series and NASCAR Xfinity Series past and through many of Chicago’s most renowned downtown landmarks during Fourth of July Weekend, July 1-2, 2023. WLS program director Stephanie Tichenor says, “We are thrilled to be the new Chicago radio home of NASCAR and we look forward to growing this new partnership as we gear up for the first-ever Chicago Street Race next summer – and what promises to be an 
unforgettable Fourth of July weekend.”…..SiriusXM announces the launch of a new original comedy channel, Team Coco Radio. Executive produced by Conan O’Brien, the channel will feature exclusive audio content as well as select Team Coco podcasts, including the popular “Conan O’Brien Needs a Friend.” The channel debuts on November 15. Subscribers can hear the biggest interviews and the funniest stand-up moments from Conan’s iconic TBS show, as well as select Team Coco podcasts, including “Conan O’Brien Needs a Friend,” plus “Inside Conan” and “Conan O’Brien Needs a Fan.” Fresh commentary from Conan will also be weaved throughout the programming, as he recalls funny behind-the-scenes stories and other entertaining and insightful anecdotes.
Midterms/Trump’s 2024 Aspirations, The Economy, China COVID Lockdowns, Meta Layoffs/Twitter Chaos, January 6 Cases, Russia-Ukraine War, Powerball Jackpot, and Tropical Storm Nicole Among Top News/Talk Stories Yesterday (11/8). Tuesday’s midterm elections, the battle for control of Congress combined with former President Donald Trump’s expected announcement he’ll run in 2024; inflation and fears of a recession; the COVID lockdowns in China and their effect on the global supply chain; Facebook parent Meta to lay off 11,000 workers and Elon Musk’s mercurial leadership of Twitter; the trials of Oath Keepers for seditious conspiracy relative to the January 6 Capitol attack; Russia’s attack on Ukrainian infrastructure; a ticket for the record $2 billion Powerball jackpot sells in California; and Florida braces for Tropical Storm Nicole were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
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 “Juries & Judgements” looks back at this past week of 10/10-10/14. The program features guests (in order of appearance): Kevin Casey, executive editor, TALKERS; 
(Thursday, 10/27), a 2:00 pm webinar presentation of the findings from the fourth annual such report explores specific types of spoken-word content, various spoken word platforms, and devices used to consume spoken-word content. National Public Media vice president of sponsorship marketing Lamar Johnson and Edison Research vice president Megan Lazovick will take part in the live webinar. Among topics they will cover are: how spoken-word audio fits into this country’s overall landscape; how “Gen Z” listeners consume spoken-word audio; how daily spoken-word audio listeners consume audio; which devices and platforms are used to listen to spoken-word audio; and how podcasts continue to impact the growth of spoken-word audio. The report includes trending data from Edison Research’s “Share of Ear” study, which measures daily listening habits of Americans using a 24-hour diary.
Montgomery’s five-station cluster includes news/talk WLWI “News Radio 1440” and sports talk WMSP “Sports Radio 740.” Cumulus Media senior vice president of operations Mark Sullivan remarks, “I’m excited for Paula’s next leadership role in Montgomery, as she has been such a positive force in [our] company. I look forward to working alongside her as she continues her track record of delivering strong results.” Divello comments, “I’m grateful for the opportunity to lead Cumulus Montgomery [and look forward] to joining the team [there]. I look forward to working in collaboration with our great employees on our next chapter of growth and success, making a positive impact on our staff, listeners, and advertisers alike.” Divello joined Cumulus Media’s Shreveport (Louisiana) stations five years ago as director of sales. She previously had similar responsibilities for Townsquare Media Lufkin, Texas and was digital marketing manager and senior account executive for Raycom Media.
like that. I can’t understand [how] any human being would delight in torturing the parents of dead children. I don’t know how you live with yourself if that’s what you do every day.” The Connecticut Democrat called on top Republican and conservative leaders to publicly denounce Jones in the wake of Wednesday’s (10/12) jury verdict that the “Infowars” talk show host must pay nearly $1 billion to the families of children killed in the 2012 massacre at Sandy Hook Elementary School. From 2007 – 2013, Murphy represented the Connecticut district where Sandy Hook is located; he has a long relationship with the families of the victims. “I want the focus to be much more broadly than on Alex Jones,” Murphy commented. “I’m not going to change Alex Jones’ business model, but man, why aren’t there more Republicans out there condemning this guy? Why is he still invited to all of these conservative conferences until the political right decides that these conspiracy theorists, these Sandy Hook harassers, are going to be purged from the right? Somebody will replace Alex Jones, because there’s a market there for it. So the culpability here is on Jones, but it is also much more broadly on the Republican Party that continues to celebrate Alex Jones.” In 2015, – three years after the Sandy Hook killings – then-presidential candidate Donald Trump appeared on “Infowars” and praised Jones’ “amazing” reputation.
Sex! with Lila” premiered yesterday (10/13). The series explores intimacy of all kinds through a sex-positive talk show on timely, tender and taboo topics. According to Donnolo, “As a society, we’ve become aware – more than ever before – of just how much we need intimacy in order to thrive. Most of us were indoctrinated with sexual shame, and this shame is detrimental to all aspects of our lives. The world desperately needs sex-positivity now. That’s why I’m so incredibly delighted to have iHeartRadio in my corner. iHeartRadio has given me a global megaphone: To paraphrase my psychiatrist friend, I’m so excited for the world to get to hear these perspectives.” Donnolo will host a multitude of episode formats including editorialized segments; “on-the-street” style interviews; intimate one-on-one conversations; and “kiss-and-tell” storytelling. Her five-year “Horizontal with Lila” podcast of conversations about sex, love, and relationships, which concluded earlier this year, was entirely recorded while she was lying down.
Broadcasting Foundation. Hosted by ABC News “Nightline” co-anchor Juju Chang, LABF’s annual “Giants of Broadcasting & Electronic Arts” luncheon ceremony at New York’s Gotham Hall will be produced by the International Radio and Television Society Foundation. In addition to Pittman and Walters, this year’s “Giants of Broadcasting & Electronics Arts” honorees are: TV chef Julia Child (honored posthumously); Standard Media Group chief executive officer Deb McDermott; CBS Sports chair Sean McManus; multi-award winning actress S. Epatha Merkerson; E.W. Scripps president/chief executive officer Adam Symson; ; recently-retired NBC News justice correspondent Pete Williams; and CNN anchor/Washington Post columnist Fareed Zakaria. The LABF event honors creators, innovators, performers and journalists who have left an indelible mark on the field of electronic arts. Proceeds from the luncheon support the work of LABF, which includes the Library of American Broadcasting, housed at the University of Maryland.
Wyoming PBS Foundation president Rubydee Calvert is elected vice chair. Ross comments, “It’s an honor and a privilege to work with my fellow board members; CPB’s leadership and staff; and our public media colleagues in support of our mission to serve the American people in communities across the country. As a result of our combined efforts, Americans of all backgrounds support the content and services of public media.” Ross has been CPB’s vice chair since 2020 and has been on the board since 2018. Four-year board member Calvert adds, “I second Laura’s statement of commitment to the outstanding work of CPB and its support of the mission of public media. I want to thank my fellow board members and the superb CPB staff for their dedicated service to public media.”
FOX News Media Seeks Freelance Radio Anchor. This onsite position in either Los Angeles, Chicago or New York is a freelance radio anchor for the FOX News Audio family as on-air talent for FOX News Radio Network/FOX News Headlines 24/7 Sirius XM Channel 115. In this position, you will work under tight deadlines and deliver top-notch newscasts. You have a passion for breaking news and the flexibility to work on a day’s notice. Learn more about this position