Beasley Second Quarter Net Revenue Falls 4.8%
Net revenue for the second quarter of 2024 was $60.4 million, a decline of 4.8% from the same period in 2023. Beasley Broadcast Group’s net loss shrank from $10.4 million in Q2 of 2023 to $276,000 in the second quarter of 2024. Beasley CEO Caroline Beasley states, “Beasley’s second quarter results highlight the ongoing progress we are making to position the company for sustainable, profitable growth. The continued
success of our digital transformation strategy led to a 10.4% year-over-year increase in same-station second quarter digital revenue, partially offsetting ongoing challenges related to softness in the audio advertising spot market. Digital revenue accounted for nearly 22% of total second quarter revenue, in-line with our full-year 2024 goal of 20% to 25% of total revenue. On the new business front, our dedicated sales teams are leveraging the audience reach and engagement of our platform to attract new advertisers. We have and will continue to see the benefit of political revenue through the end of year, and at the same time, we are taking aggressive action to address near-term challenges through expense management initiatives, which drove approximately $2 million in expense savings compared to the prior year. We expect to achieve $10 million in annualized expense savings.”
“If you missed Biff & Bev in-the-Morning, you missed…” It’s a donut: produced open and close, with an aircheck clip in the middle.
located another device that had many if not all of the text messages. Those messages were produced to Smartmatic in the litigation. Newsmax also notes that it informed the Special Master that neither Ruddy nor any senior staff sought to hide text messages or emails, which in many cases were also collected from dozens of other Newsmax witnesses in the case and produced to Smartmatic. Newsmax separately filed a Motion for Sanctions against Smartmatic on May 13, 2024, and a Motion for Contempt against Smartmatic on July 16, 2024. Both of those motions remain pending. In its motions Newsmax argues that Smartmatic and its executives have misled Newsmax, the Special Master, and the Court about the Department of Justice’s ongoing criminal investigation into Smartmatic in which the agency alleges that Smartmatic and several of its senior executives participated in an international scheme involving a multi-million-dollar bribe allegedly made to an election official in the Philippines in exchange for the company getting nearly $200 million in contracts. 
radio station of the back-to-back defending Super Bowl champion Kansas City Chiefs and broadcast all pre-, regular and post-season games. Chiefs games will be simulcast on 106.5 The Wolf “WDAF-FM” for the 2024 season.” The station will also serve as the play-by-play home of the Kansas City Royals, Kansas State University and University of Missouri men’s basketball and football. The station’s weekday programming and play-by-play content will also be heard on KFNZ-AM “The Fan AM 610,” formerly known as KCSP-AM. Audacy Kansas City SVP and market manager Roxanne Marati comments, “Kansas City has the most passionate sports fans in the country, and they deserve a one-stop destination for premium sports content year-round. This is an exciting time for KC sports, and our exclusive partnership with the World Champion Chiefs, local content and engaging personalities with unrivaled sports knowledge will fuel fandom, bring listeners closer to the action and keep them connected to their favorite teams.”
-host John Lopez and producer Edward “Figgy Fig” Gilliard on KILT-AM “SportsRadio 610,” beginning August 19. KILT brand manager Parker Hillis comments, “We’re thrilled to have Reggie join ‘In The Loop’ as the newest host. He’s a natural talent whose on-air enthusiasm and innate ability to connect with an audience will make him the perfect fit here in Houston.” Adetula is a native Houstonian who returns home after nine years as the evening host and producer on Audacy’s KRLD-FM, Dallas “105.3 The Fan.” 
2003 and 2004 Super Bowl winning radio broadcasts, followed by the inaugural “Felger & Mazz” show. Throughout its 15-year history, the station has received numerous industry accolades, including the National Association of Broadcasters’ Marconi Award for “Sports Station of the Year” in 2011, 2014, 2019 and 2023. Station program director Rick Radzik says, “For me, being with the station since day one, I have always felt proud and privileged to be a part of the ‘Sports Hub’ team these past 15 years. We look forward to celebrating the milestone all next week on air and online with many stories and recollections from our on-air talent.”
Wall Street investors do not put up money for traditional radio and television stations.
comments, “Our second quarter results mark the first quarter that our consolidated revenues increased year-over-year since Q4 2022. We continue to see strong momentum in our podcast business, our Digital ex. Podcast business, and have seen sequential improvement of our Multiplatform Group’s year-over-year revenue performance. This performance is built on iHeartMedia’s strong and unparalleled audience and demonstrates the progress we are making in maximizing the monetization of it.” Company COO and CFO Rich Bressler adds, “We continue to see signs of improvement throughout our business and the broader advertising marketplace, and our second quarter 2024 results were in line with, and in the cases of revenue, slightly above guidance. Our high-growth Digital Audio Group revenues were up 10% year over year, and represented 31% of our company’s revenues, and our Multiplatform Group revenues exceeded our previously provided guidance. Our full year 2024 political revenues are currently pacing approximately 20% higher than the last presidential election cycle, which gives us confidence that this will be a record political year for us, and we expect to see a significant year-over-year improvement in our full year Adjusted EBITDA performance.”
and our unique and differentiated digital platform… In the second quarter, the Company reported a net loss of $48.9 million, in large part due to non-cash impairment charges. Our Q2 performance was driven by stabilizing and/or improving trends across segments: Townsquare Interactive returned to sequential revenue growth in each month of the quarter, as a result of positive subscriber trends that have improved dramatically compared to previous quarters; Digital Advertising net revenue growth continued at +1% year-over-year; and Broadcast Advertising net revenue was approximately flat as compared to the prior year, an improvement from first quarter declines. In total, Digital represented 52% of Townsquare’s net revenue in the first six months of the year. Additionally, we continue to generate strong cash flow, granting us the ability to invest in our digital growth engine while preserving financial flexibility, as evidenced by our ongoing debt and share buybacks in the open market… Most importantly, due to our current cash position and our strong cash generation, we retain financial flexibility moving forward and we are confident in our ability to build shareholder value for our investors through long-term net revenue and cash flow growth, net leverage reduction, future dividend payments, and potential future share repurchases.”
Radio. The company says that in his new role, Goforth will collaborate closely with local Hubbard Radio markets to enhance sales strategies for existing podcasts. And as part of the Hubbard Radio corporate team, he will create new podcast initiatives and strategic partnerships, to build an even more robust podcast network. Hubbard EVP and chief financial officer Dave Bestler says, “We fully understand and embrace the evolution in our business from radio to audio. We are creating must-hear content in all eight of our Hubbard Radio markets, and listeners are increasingly accessing our content on-demand. John will help expand our podcast offerings, while growing revenue with the podcasts we already have.” Goforth comments, “I couldn’t be more excited to join the amazing team at Hubbard and help grow their already impressive portfolio. It’s thrilling to be at the intersection of local and national in the podcast space. As we’ve seen in other channels, cracking the code on local is the key to explosive growth.”
6:00 pm to 9:00 pm host. Tatum filled in for Elder during his run for governor of California in 2021 and subsequently assumed the role full time. Elder joined the 2024 Republican presidential primary race but dropped out last fall and threw his support behind Donald Trump. Since then, he’s been hosting his podcast, “Larry Elder – We’ve Got a Country to Save.” He’ll continue the podcast with Salem handling sales and marketing for the it. Salem SVP of spoken word Phil Boyce says, “Larry is one of a rare breed who actually grew in popularity and influence AFTER he departed the radio. Now we get to hear his sage words of wisdom daily on radio stations across the country, on Salem News Channel, and the Salem Podcast Network.”
July 2024 PPM Data – Information for Nielsen Audio’s July 2024 ratings period (June 20 – July 17) has been released for 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.
and Macy’s. In this newly created corporate position, Snyder will be responsible for overseeing digital marketing and building revenue opportunities on behalf of the company with an emphasis on newsletters, SEO, websites and affiliate marketing as well as leading the developers working across the organization. Beasley CEO Caroline Beasley comments, “We could not be more thrilled to welcome Dave into the Beasley family. His marketing expertise is exactly what we need as we continue to build new revenue streams on behalf of the company.”
investors are defined by the Securities and Exchange Commission’s Rule 501(a) as individuals with a net worth greater than $1 million – excluding their primary residence – or incomes in excess of $200,000 in the last two years with the expectation of the same in the current year – or $300,000 with a spouse.) Last month, Newsmax announced that it would seek to become a public company later in 2024 or in early 2025 with a listing on the NYSE or Nasdaq. In preparation for this contemplated public offering, Newsmax has launched a private placement offering seeking to raise up to $225 million. Ruddy states, “We are excited to connect with the tens of thousands of investors nationwide who have already shown interest in investing in Newsmax. There is much to be enthusiastic about Newsmax, including significant growth in our audience, a surge in interest in conservative media and our expanding portfolio of platforms and distribution. Now more than ever — especially in this election year of 2024 — America needs Newsmax. We look forward to sharing more details with everyone who tunes in to the webinar.” 
president and CEO Mary G. Berner says, “In the context of a challenging advertising environment, second quarter total revenue finished in line with our pacing guidance, down 2.5% year-over-year. However, our unrelenting focus on areas of the business that are in our control helped us to mitigate the impact of soft demand while also driving tangible progress in key priority areas. During the quarter, we grew our digital marketing services business by 24%, reduced fixed costs by $4 million, and continued to strengthen our balance sheet through the successful completion of our exchange offer, ABL upsizing, and the buyback of a portion of our remaining 2026 maturity debt. Looking ahead, while the advertising outlook remains uncertain, our advertisers continue to be focused on when – not if – they’re going to return to more typical spending levels. Fortunately, thanks to our success at extending our debt maturities, we have time on our side and the flexibility to pursue multiple paths to create shareholder value.”
Humility means to be teachable. It’s the most important trait of great leaders and managers. For years I looked forward to focus groups to reveal the top-of-mind awareness of media among listeners. These groups always reminded us of a listener’s life priorities which never included radio listening! They taught us the correct secular language to use in promos and slogans, and what they remembered versus what we wanted them to remember.
news/talk stations plus the John Fredericks Radio Network. He adds, “This undertaking was never authorized, sanctioned, or endorsed by President Trump or his campaign. Despite several very direct public communications disavowing any affiliation by Trump campaign senior staff, the fake news continued to propagate phony stories, which The Heritage Foundation and their Project 2025 leaders were willing and happy to substantiate. Sources say President Trump made the decision to shut it down himself. Good riddance to yet another grift charade using Trump to raise money.” TALKERS publisher Michael Harrison commented on Fredericks’ statement saying, “It has been disturbing watching the once-honored think tank known for its even-handed academic fastidiousness devolve into what is now perceived as just another fund-raising propaganda machine in the mud-slinging political wars. This is the kind of credibility squandering that damages the true American conservative moment and people’s confidence in all political organizations.”
including radio over-the-air and radio streams. The next highest portion, 18%, was spent with owned music such as CDs and downloaded audio files, and 11% of their daily audio time went to streaming. Today, we see the increase in listening from linear sources to more on-demand audio sources such as YouTube for music or music videos (not the YouTube Music streaming service), and podcasts. Americans age 13+ now spend an average of 18% of their audio day listening to streaming music from sources such as Amazon Music, Apple Music, Pandora, and Spotify, 14% listening to YouTube for music, and 10% listening to podcasts. AM/FM radio still takes the largest portion of the audio day on a 13+ basis with 36%, driven heavily by in-car listening.” Edison director of research Laura Ivey adds, “A decade ago Share of Ear was created to answer the question, ‘What do Americans listen to?’ Today we can understand the listening patterns of Americans and see how audio sources have emerged to vie for our daily listening time. There are surely audio developments that we can’t even imagine that will impact our daily audio time over the next 10 years.” 
Here’s a cost-effective way to see if you’ve got what it takes. I’m tired of podcasters coming to me in tears after they sign up for services that market their work ‘wherever podcasts are available.’ That’s not a marketing campaign. Don’t you want to be more than a ‘wherever?’ PUMP is your answer.” He says that with PUMP, a selection of the podcaster’s episodes will be broadcast across five states via six prominent radio stations, helping tap into new listener bases, turning casual listeners into dedicated subscribers. Ryan adds, “If you want to turn your DUDcast into a serious PODcast with marketing power, this is how you do it.” 
Jersey for $133,000. The former sports talk outlet has been dark since late last year due to what at the time was reported as being the result of problems with its nighttime antennae. This deal leaves Townsquare with three signals in the Trenton market: news/talk WKXW-FM “New Jersey 101.5”; CHR WPST-FM, and religion WCHR-AM.
2025, at Cipriani 42nd Street in New York City. In commemoration of this golden milestone, AWMF unveils a newly refreshed logo, shown here. AWMF president Becky Brooks says, “As we approach the 50th Annual Gracie Awards, we reflect on five decades of tremendous progress made in advancing women in media. The Gracies have been a beacon of recognition for the incredible talents and contributions of women in our industry. Next year’s celebration is not only a tribute to our past but also a spotlight on the bright future ahead. We are eager to honor the trailblazers who have paved the way and the rising stars who continue to shape the media landscape.”