Audacy Q4 2022 Revenue Down Slightly; Full Year Revenue Up 3%
Reporting its financial results from the fourth quarter of 2022 and for the full year, Audacy says net revenue in Q4 was $342 million, a decline of 0.8% over the same period in 2021. The company reported income of $12 million for the quarter. For the full year of 2022, net revenue was $1.25 billion, an increase of 3% over the full year 2021. However, the company’s posted loss widened as it reports a loss of $140.7 million, compared to the loss of $3.6 million it reported for 2021. Audacy breaks its report down by revenue source and reveals local and
national spot revenue for 2022 was $798 million, down 0.2% from 2021. Digital revenue for 2022 was $259 million, an increase of 8.9% over 2021. Network revenue in 2022 was $89.9 million in 2022, an increase of 6.9% over 2021. The company also breaks down its radio revenue by format and notes that while revenue from music-formatted stations in 2022 was down 1.3%, revenue from news and talk stations was $199.7 million – up 2.3%, and revenue from sports talk stations was $264.3 million – up 5.2%. Audacy president and CEO David J. Field says, “Having started 2022 on a great note with revenues up 14% in the first quarter, we ended the year with revenues down 0.8% in the fourth quarter as challenging ad market conditions persisted. For the full year, revenues were up 3%. Fourth quarter 
expenses grew 9% due to accelerated recognition of podcast expenses, but we anticipate that expenses will be up low single digits in the first quarter and fall below 2022 levels beginning in the second quarter. We continue to vigorously execute our plan to navigate the storm and to position the company for recovery when business conditions improve. Our liquidity improved from $115 million at the end of September to $145 million at year end. With the sale earlier this month of $17 million of towers, we have now completed $73 million in non-strategic asset sales to bolster our liquidity and to support our continued compliance with our financial covenants. We are making solid progress on our key growth drivers including our reinvented streaming audio platform, our national enterprise business development, our podcasting and digital marketing solutions businesses, and our promising ad tech and ad product roadmap. Looking beyond the challenging current macro environment, Audacy has a strong and differentiated, scaled, competitive position in the dynamic and growing audio space and is deeply focused on continuing the work to capitalize on the opportunities and drive a healthy recovery.”
incredible talent and wide variety of leaders across the podcasting industry.” The event was exclusively video streamed on iHeartRadio’s YouTube channel and Facebook page and broadcast across iHeartMedia radio stations nationwide and on the iHeartRadio app. The winners included: “Las Culturistas” honored with the Podcast of the Year Award presented by Autonomy; FOX Sports Radio personality Colin Cowherd presented the Best Sports Podcast of the Year Award to “The Draymond Green Show”; Angela Yee presented the Audible Audio Pioneer Icon Award to technology journalist and podcaster Kara Swisher; The New York Times won Best News Podcast for “The Daily”; and “NPR Politics Podcast” was named the Best Politics Podcast. 
committee that he operates. This is the second such complaint filed by Illinois Democrats against Proft in the past four months. Proft co-hosts the “Chicago’s Morning Answer” program with Amy Jacobson on Salem Media Group’s news/talk WIND-AM, Chicago “560 The Answer.”
CEO Nate Lundy says, “This is like a gift from the sports talk gods. When the opportunity to work with two talented, intelligent talk show hosts falls in your lap you jump at the chance.” Clough comments, “This is such a tremendous city for sports talk and the fans are some of the best in the country. After spending a few short months on the sidelines, I realized that I missed spending part of my day with those fans. I’m not only happy to be back on the air but thrilled to have Shawn again as my partner in crime.” Drotar adds, “As a Colorado native, understanding the privilege and the expectations of hosting a sports talk show in my own hometown has never been lost on me. To get back together with Sandy, the best that’s ever done it in Denver, is not only a treat, but gives us the opportunity to once again provide a completely unique perspective to fans about every single team along the Front Range.”
anonymous women who have overcome seemingly insurmountable odds. Almon says, “Since 2019, my mission has been to amplify the voices of women of color. I wanted to normalize conversations within my community to humanize women, especially Black women, that took roads less traveled. Through this new partnership with The Black Effect Podcast Network, I hope to tell more compelling stories and create a space where women of color don’t have to look far to see themselves.”
combination of perspectives on sports, culture, current events and day-to-day life that our listeners will find to be informative, entertaining and funny. They’ve quickly developed a chemistry that I think will lead to 
Westfield most recently served with Champaign, Illinois radio company Illini Radio Group voicing commercials and hosting on-air shows. “Radio Health Journal” was launched in 1992 and is distributed by American Urban Radio Networks to more than 630 affiliate stations. AURN says, “The addition of Westfield rings in a new era for the show in that it’s now largely female-led, produced and voiced. With March being Women’s History Month, it’s important to honor the contributions of the countless women across history who’ve fought tirelessly for equal rights and opportunities.”
Let’s take a lesson from arguably the greatest college basketball coach of all time: John Wooden.
Tip: If you’re auditioning for voiceover work, call yourself a “voice actor,” not an announcer.
I’m an SU fan. I’m sorry, but I bleed Orange. I’m not going to apologize for that, and I think a fair reading of the Orange is appropriate. I understand [Galaxy has] a business relationship [with Syracuse], that Coach [Jim] Boeheim and I are personal friends and he’s an investor in my company. I understand and acknowledge all of that. We’ve called it pretty fair, and I would argue we’ve been tough on SU when the on-field or off-field events warrant it. I just think over the past six months it took a different tone and became overly dark and negative. I don’t think that’s what Syracuse fans want to hear.” For his part Axe tells Syracuse.com, “I had a responsibility to give an honest, fair and thorough opinion to my audience. I certainly wasn’t perfect, but I don’t regret anything about the approach of the show. We put listeners on the air, and we gave them the opportunity to say what they needed to say. I don’t have any regrets.” 
for cash and it should get $145.5 million at the time of settlement. At the same time, Urban One is notifying the SEC that is unable to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2022 before the March 16 deadline. The company says it expects to file the report within the 15-day extension period. Urban One adds, “The company noted it expects its auditor will issue an unqualified opinion on the consolidated financial statements. The company has identified material weaknesses in the company’s internal control over financial reporting and as a result, expects some of its internal controls over financial reporting and disclosure controls will be ineffective as of December 31, 2022. The Annual Report on Form 10-K for the year ended December 31, 2022 will describe these material weaknesses, and the company is implementing plans to remediate them.”
featured reporting by Edward R. Murrow, then a CBS executive, making his debut reporting on the show from Vienna. Hitler’s German army was invading Austria and becoming a growing threat to all of Europe. This was the first comprehensive broadcast that linked America with a world careening toward war.” Currently, Steve Kathan anchors the program and Jennifer Keiper anchors “World News Roundup Late Edition.” The broadcasts are aired on 156 CBS News Radio affiliates and on SiriusXM’s P.O.T.U.S channel. As part of the anniversary celebration, CBS News Audio is launching the new “CBS New Roundup” podcast, which combines broadcasts of “Weekend Roundup,” “World News Roundup,” “World News Roundup Late Edition” and “Kaleidoscope” into one. Also, CBS will release a remastered “World News Roundup” broadcast from 1938.
archives via an independent auction house and paid more than $600,000 for it. The Tribune quotes Beck saying on his radio show, “Roe vs. Wade is history, and now that history is in the hands of a pro-life conservative.” He also says “Coffee’s archives will debut this summer as part of an exhibit called ‘The Blueprints of Freedom,’ adding, “The Roe archives’ inclusion in the exhibit will underscore Coffee’s bloody legacy that has been undone in the service of life and the proper reading of the Constitution.” 
iHeartMedia Raleigh president Michael Burger says, “We are ecstatic to have TJ join our team in Raleigh. She is an impactful, results-driven leader who has fostered confidence, gained respect and accumulated wins throughout her career. She has vast media experience, and she is as incredible personally as she is professional. We are grateful to bring her onto our team. She will work closely the team and our clients to achieve some incredible feats.”
Providence. Kass was inducted into the RI Radio Hall of Fame in 2010. He began his radio career in 1958 as a rock ‘n’ roll disc jockey. He also led the pop group Steve Kass and the Love Larks that was recorded by Bobby Day for Class Records. They performed on TV and toured for a while. Kass changed careers and launched several successful businesses but returned to radio and TV in 1979, hosting shows at WPRO-AM and WHJJ-AM in Providence. Today, he hosts an eponymous podcast.
News/Talk Library is created by the industry’s top imaging and production specialists, led by imaging director, Adam “Ketch” Kecskemeti, and imaging voice, Mike Hansen. Paired with Benztown’s Ambush News/Talk Library, led by imaging director Scott Phillips, and format voice JJ Surma, and housed on Benztown’s industry-leading platform, news/talk radio stations have every imaging tool and solution at their fingertips.” Benztown VP, sales & operations Masa Patterson says, “We are incredibly excited to bring America’s best news/talk stations an enhanced and expansive toolset they need now more than ever. Benztown News/Talk is all stations need to produce what their listeners count on them for, from conservative talkers to straight-up traffic and weather. With this increase in caller interaction and daily topical elements, it has everything news/talk stations need to get a jump on tomorrow’s news today – and more.” 
censorship” from conservatives. The rhetoric surrounding these deals is part and parcel of the politicized nature of media in the modern world. In the piece, Montlake observes, “The $60 million takeover – and the reactions it has sparked – is another flashpoint in the national battle to win over Latino voters, a fast-growing demographic that has long leaned Democratic but has lately grown more receptive to Republicans. So far, most Spanish-language radio in the U.S. has been focused on music and entertainment, not news or commentary. Which in the eyes of many makes it an untapped and lucrative means of political persuasion.” 
‘Stuff You Missed in History Class’ podcast, Holly Frey; and esteemed journalist, author and co-founder of Pushkin Industries, Malcolm Gladwell, joined with today’s biggest marketers to explain why podcasting is growing rapidly and how brands need to adapt, invest and create audio advertising that resonates with podcast fans.” iHeartMedia Digital Audio Group CEO Conal Byrne says, “Podcasters are the most creative, fastest-growing, diverse wave of influencers to hit content and marketing in years – just as influencer marketing more generally was becoming a key new way to reach audiences. This event came together because our podcast creators are deeply invested in the brands and advertising that become part of their shows, that they asked us to give them a chance to sit down with marketers at scale and talk about what makes host-read creative work. What really differentiates podcasting and our iHeartPodcast Network from other mediums is that creators and fans expect the advertising to be endemic to the shows, often voiced by the hosts and authentic to the listening experience. This is a chance to roll up our sleeves and co-create, collaborate and showcase the simplicity, speed and creative potential of podcasting.”
and The New York Post who also served as Nassau County executive from 2018-2021. She’s filled in on the station’s “Cats & Cosby” show. Ernie Anastos recently began producing his twice-daily feature “Positively Ernie with Ernie Anastos” for the station. For this new show he partners with Patricia Stark – a certified personal & executive coach who heads Patricia Stark Communications. Red Apple Media Group CEO John Catsimatidis says, “At 77 WABC, we’re doing radio the way it’s supposed to be…. live, local, and BIG. We got rid of all the brokered weekend programs and we’re replacing them with big-name hosts like Ernie and Laura. I know we’re doing radio the right way because we’re winning!”
Talk show talent, program directors, show producers and broadcast business decision-makers represent the core readership of this publication. Sometimes we are so close to something that we fail to see it for what it really is. That is the case of the “talk show host” in American radio. Michael Harrison refers to the often-shameless targeting of audiences as “the daily dance of affirmation.” I view the daily process of radio talk show hosting at its very core, as “the daily dance of freedom.”
2021, Townsquare is upbeat about its Digital segment. CEO Bill Wilson says, “I am proud to report that Townsquare’s transformation into a Digital First Local Media Company allowed us to deliver record results in 2022 despite a progressively challenging economic landscape… 2022 was a significant inflection point for our company. It marked the first year where radio no longer comprised the majority of our revenue and profit, further separating Townsquare from our local media peers, and placing a spotlight on our world-class team and our unique and differentiated strategy, assets, platforms and solutions. Our growth engine has been and will continue to be our 
digital solutions, which were the primary driver of our 2022 growth. Total digital revenue increased +16% year-over-year (and +12% in the fourth quarter) to $231 million, and total digital Adjusted Operating Income increased +12% year-over-year to $69 million, representing a 30% profit margin. We believe Townsquare’s ability to drive profitable, sustainable digital growth is a key differentiator for our company, and we reaffirm our expectation that our digital revenue will grow to at least $275 million by 2024. We are uniquely positioned as a Digital First Local Media Company focused principally on markets outside of the Top 50 in the United States, with 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. We believe that our business model and strategy position us to weather the current economic environment better than most… Our success has been and will continue to be the result of the Townsquare Team focusing on what we do best: creating high quality, local original content for our audiences and delivering creative and cost-effective marketing solutions for our local clients with strong return on investment.”
2022. Salem reports in segments and for the fourth quarter of 2022, net Broadcast revenue increased 4.5% to $53.3 million from $51 million in the same period in 2021. However, Digital media revenue decreased 10.3% to $10.4 million from $11.6 million in Q4 of 2021. The Publishing segment decreased 21.3% to $5.2 million from $6.5 million in the same period a year ago. For the full year of 2022, net Broadcast revenue increased 7.2% to $205.3 million from $191.4 million in 2021. Digital media revenue decreased 1.2% to $41.7 million from $42.2 million, and Publishing revenue decreased 18.9% to $20 million from $24.6 million in 2021. Looking ahead, Salem offers guidance for the first quarter of 2023, saying, “The company is projecting total revenue to be between flat and a decline of 2% from the first quarter 2022 total revenue of $62.6 million.”
$108.3 million for the full year of 2021. Although net income rose almost 16% to $4.27 million in Q4 of 2022, Saga’s net income dipped 17.5% to $9.2 million for the full year of 2022. The company adds, “Despite strong underlying performance the results were impacted by one-time payments during the 3rd quarter related to the passing in August of our founder Ed Christian. As a result of Ed Christian’s passing, the company was required to make several payments to his estate as outlined in his employment agreement. Without these expenses operating income would have increased 12.3% to $16.9 million, free cash flow would have been approximately flat with last year at $13.6 million and net income would have increased 16.8% to $13 million.”