Beasley Media Group Q3 Net Revenue Falls 5.8%
Reporting its operating results for the third quarter of 2023, Beasley Media Group says net revenue was $60.1 million, a decrease of 5.8% over the same period in 2022. The company also reports a net loss of $67.5 million compare to the net income of $500,000 it reported in the third quarter of 2022, due largely to non-cash impairment losses. Beasley CEO Caroline Beasley comments, “Beasley’s third quarter financial results reflect the well-publicized economic challenges and continued advertising market softness which we outlined in the prior quarters. Similar to recent quarters, Beasley delivered strong
digital revenue growth of 9.1% year-over-year, with digital revenue representing 18.6% of total third quarter revenue. Our continued strong digital revenue growth has moved us to within a few basis points of reaching the bottom end of our goal of digital revenue accounting for 20% to 30% of total revenue, and we remain laser focused on this initiative as a means to diversify our revenue in a cash flow positive manner. Our dedicated sales teams continue to leverage the tremendous audience reach and engagement of our local multi-platform content to attract new advertisers, resulting in a 22% increase in new local business revenue growth for the third quarter. Additionally, the actions we have taken to reduce our cost structure resulted in third quarter operating and corporate expenses decreases of 2.7% and 12.5%, respectively. In summary, we believe our third quarter financial performance demonstrates that our digital transformation and revenue diversification strategies continue to gain momentum and our initiatives focused on lowering operating expenses and reducing debt are positioning Beasley to generate increased and more diversified cash flows in future periods. Looking ahead, as has always been the case for non-election years, we expect fourth quarter revenues to be somewhat impacted by the absence of cyclical political advertising. While we plan to offset some of this expected softness through continued growth in digital and new business, we are hopeful that the overall advertising environment will improve in the fourth quarter and continue to closely monitor the economy.”
noted that it lost about 96,000 self-pay subscribers during the quarter and states that its current total subscribers stands at 34 million. SiriusXM CEO Jennifer Witz says, “We are very excited to unveil SiriusXM’s next-generation platform on November 8th, a key component of our long-term vision for the company’s consumer offerings. Our content portfolio continues to differentiate us in the audio marketplace with exclusive access to live sports, talk, music and one-of-a-kind content.”
programming includes Premiere Networks’ “The Clay Travis & Buck Sexton Show” and “The Jesse Kelly Show,” as well as programming from Westwood One. iHeartMedia SVP of programming Jason Carr says, “We’re excited to bring ‘The Patriot’ to Vero Beach with local talk and news from ‘The Brian Mudd Show’ and some of the biggest names in national talk radio. ‘The Patriot’ will super-serve the growing Vero Beach community, with the most up-to-date news, weather and sports updates, including sources like FOX News and the Florida News Network.”
The second of four rounds of ratings data from Nielsen Audio’s October PPM survey has been released for 12 markets including Washington, Boston, Miami, Seattle, Detroit, Phoenix, Minneapolis, San Diego, Tampa, Denver, Baltimore, and St. Louis. The survey period was September 14 through October 11. Today, TALKERS magazine managing editor Mike Kinosian presents his Ratings Takeaways from this group of markets. In Washington, Cumulus Media’s news/talk WMAL-FM rises one-tenth to finish with a 4.0 share (weekly, 6+ AQH share) and remains ranked #7, while Hubbard Broadcasting’s all-news WTOP dropped six-tenths to an 8.1 share and stays locked in the #2 rank. In Detroit, Audacy’s all-news WWJ adds six-tenths for a 4.6 share finish and rises to the #9 rank, while Cumulus Media’s news/talk WJR rises half a share for a 2.3 share that lifts it to the #16 rank. 
Spoken Word Audio Report 2023. According to data from the study, 48% of those in the U.S. age 13+ listen to some type of spoken-word audio daily, and audio consumers in the U.S. age 13+ spend 31% of their daily audio time with spoken word. They say this edition of the study focuses on listening locations and explores spoken-word audio consumption at home, at work, in-car, and other locations. 
stories of our nation’s heroes, the families who serve by their side, and how Fisher House plays a role in their journey. Fisher House Foundation provides a home away from home for families of patients receiving medical care at major military and VA medical centers. Fisher Houses provide temporary free lodging so families can be close to their loved ones during medical care. The inspiring and patriotic radio show features an exclusive interview with Jessica Lynch who recounts her harrowing experience as a prisoner of war during the early days of the 2003 invasion of Iraq during Operation Enduring Freedom. She reveals details of her treatment during her captivity, her rescue, the ensuing years of medical treatment and the special role Fisher House played (and continues to play) in her recovery. 
“AUDA.” Audacy says, “The NYSE’s determination has no impact on Audacy’s business strategy or operations. Audacy continues to focus on growing and enhancing its capabilities as a leading, multi-platform audio content and entertainment company, and continues to engage in discussions with its lenders to deleverage its balance sheet and improve its capital structure to position Audacy for long-term growth.”
advertising. In 2016 and 2017, direct response represented the vast majority of podcast advertising. From 2018 to 2021, the proportion of podcast ad spend was equally split between brand and direct response.” The post says there are four major implications of the shift to podcast brand advertising: 1) Targeting will become much broader: Wide campaign reach will become the priority with a goal of “being known before you’re needed”; 2) Creative will shift to become more entertaining and emotion based: The objective will be to stir passions and create positive feelings and associations with ads that people find interesting and enjoyable; 3) Brand safety and suitability measurement will become more crucial: Firms like Barometer will become powerful resources to help marketers find the right context for their campaigns with nuanced data; and 4) Measurement will focus on how well campaigns build memories to ensure brands are “easy to mind and easy to find”: Key performance indicators are brand awareness, brand consideration, and brand preference. 
the achievement of the market’s total sales goal. Mems comes to Audacy from his most recent post as president of the Central Illinois Media group. Audacy St. Louis SVP of sales Becky Domyan states, “We are happy to add Charles and his vast experience of media sales and client support to our team. I have no doubt that he will drive exceptional results for our collection of brands.”
to 8:00 am show will be simulcast on the company’s KTOK-AM, Oklahoma City and KAKC-AM, Tulsa. iHeartMedia Nashville market president Dan Endom says, “We are thrilled to welcome Michael, a true broadcasting legend, to iHeartMedia Nashville. Michael’s extensive knowledge of the airwaves coupled with his innate ability to connect with audiences will elevate our programming to new heights.” DelGiorno served with Cumulus Media’s crosstown WWTN-FM, Nashville from 2007 through March of this year. He also previously hosted shows on KFAQ and KRMG in Tulsa.
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by Liberty News Radio Network from its flagship station WMQM-AM/W227DQ, Memphis. The show says, “Danila has immigrated to America from Brazil to live the American Dream! And we couldn’t be happier! She has been featured in Moevir, Latinos Today and Pump magazines.” Rodrigues is the second female member on the show, joining special correspondent Heather Powers McBride.
a net loss of $19.8 million. Cumulus reports in segments, and for the Q3 period total broadcast radio revenue was $146 million, down 17.4% from a year ago. Spot revenue was down 15.2% while network revenue declined 22.8% from Q3 of 2022. Cumulus’ digital segment reports revenue of $37.2 million, an increase of 6.6%, year-over-year. Cumulus CEO Mary G. Berner states, “Third quarter revenue and Adjusted EBITDA finished in line with expectations with results reflecting the continued dichotomy between local 
and national business lines. Despite the challenging environment, we maximized performance by 
Audacy’s KMBZ, Kansas City yesterday (10/26) after spending the last month in a rehab program, according to a story in the Kansas City Star. Parks says he’s been addicted to alcohol for much of his adult life but had been sober for three years before an undisclosed family trauma in July led him back to drinking. Wright noticed Parks’ relapse and, fearing for his health, contacted Parks’ brother. Parks credits the resulting intervention with getting him the help he needed. 
In May 2007, I was enjoying the brand-new app called YouTube. Still independently owned, still relatively unknown. Some of the videos pulled millions of viewers, more viewers than enjoyed by ESPN or any cable network. More interesting, the videos with high counts were not made by NBC or ESPN or any traditional video source. High view count videos were being made by people with no experience in traditional media, they were experimenters producing in their basements and bedrooms.
Gov. Ron DeSantis, Amb. Nikki Haley, Vivek Ramaswamy, Sen. Tim Scott, Gov. Doug Burgum, Gov. Asa Hutchinson, and Ryan Binkley. “Iowa Talking Points” is produced for live video stream, 
video and audio on-demand playback, and radio rebroadcast by NRG’s “News/Talk 1540” KXEL, Cedar Rapids-Waterloo and is hosted by KXEL program director and host Jeff Stein. Previous programs in the series have been produced in front of a live studio audience from Mudd’s state-of-the-art “Studio5@Mudd” facility in Cedar Falls. Last week, the team arranged a special live broadcast from the annual tailgate fundraiser sponsored by Iowa State Rep. Mariannette Miller-Meeks. Stein says, “There are very few opportunities to have access to this many candidates at one time. Engaging with them in this way gives our audience the best information free from sound bites and media filters.” Pictured here is Stein with DeSantis (left) and Haley (right).
GOP presidential nomination and says he’ll put his support behind Donald Trump. “As I look at the path forward, and after careful consideration and consultation with my campaign team, I have made the difficult decision to suspend my campaign.” Elder was unable to get a spot on either of the two Republican presidential debates held so far. 
president and co-founder Kit Gray says, “The Opportunist is an incredible complement to our existing slate of award-winning true crime podcast programming. There is no more fitting time than now to debut the show on our network. We look forward to growing the show’s existing audience.”
implementation and management of all market events, promotions and contesting initiatives and support similar initiatives within the region that includes Dallas, Houston and New Orleans. Audacy Austin SVP and market manager Bob Mackay says, “Momo has all the mojo going as far as being connected promotionally in Austin. She loves live music and being out with the brands, which made her the perfect choice to work alongside our vice president of programming Nikki Nite, to help elevate the Audacy Austin marketing efforts.” Audacy operates news/talk KJCE-AM and three music brands in the Austin market.
the top sports morning shows in America and has won numerous national industry awards including a Marconi Award. Toucher was a foundational member of the launch of the station in August 2009. Prior to joining the ‘98.5 Sports Hub’ team, he worked at the former legendary rock station, WBCN.” Toucher comments, “I am thrilled to be able to work with my Beasley family over the coming years. I will continue my record of immense competence and brilliance.” Station PD Rick Radzik adds, “Fred has been entertaining ‘Sports Hub’ listeners each morning since 2009 with his compelling viewpoints and opinions on a wide range of topics. We are very pleased that he will continue on with us for years to come.” There’s no mention of morning drive co-host and Toucher’s longtime partner Rich Shertenlieb in the press release and the Boston Globe’s Chad Finn writes about the possibility Shertenlieb will exit the station soon.