Industry News

“The Bettor Angle” Joins BetQL Network

Audacy announces the launch of “The Bettor Angle,” a new show that “takes fans of BetQL Network behind the numbers and uncovers the stories that shape the games.” The program is hosted by Kate Constable andim Camron Smith and airs Saturdays from 4:00 pm to 7:00 pm ET via the Audacy app and Twitch beginning May 13. BetQL Network brand manager Andrew Williams says, “‘The Bettor Angle’ is the latest example of the BetQL Network’s dedication to delivering top-quality Wagertainment to our listeners and viewers, seven days a week. Kate and Camron will take listeners behind the numbers and uncover the stories that shape the games. From injury reports to coaching strategies, they’ll help listeners understand the factors that can make or break their bets.”

Industry News

Bleav Joins Cumulus Podcast Network

Cumulus Media announces that the Bleav network is joining the Cumulus Podcast Network, which will bring Bleav podcasts that cover the NFL, MLB, NBA, NCAAF, NCAAB, SEC, and NHL as well as soccer, betting, andim pop culture into the network. The Cumulus Podcast Network will distribute, market, and monetize the more than 300 Bleav shows. Cumulus EVP of marketing and Westwood One president Suzanne Grimes says, “Bleav has created a broad and deep well of programming for sports fans, with content from virtually every professional and major college team in America. Listeners and advertisers alike turn to Westwood One for the very best sports programming, so it’s a natural fit for us to partner with Bleav and offer our advertisers access to this extensive podcast portfolio.”

Industry Views

Saga Communications Q1 Net Revenue Rises 1.3%

First quarter 2023 operating results for Saga Communications reveal net revenue of $25.3 million, an increase of 1.3% over the same period in 2022. Net income fell from $1.2 million in Q1 of 2022 to $920,000 in the first quarter of this year. The company says, “Station operating expense increased $1.1 million for theim quarter to $21.7 million compared to the same period last year. A significant part of the increase in station operating expense for the quarter was due to a $272 thousand increase in our self-insured health care costs and a $446 thousand increase in employee compensation, including payroll taxes at the station level. After a number of years of holding the company’s compensation expenses flat, we decided that adjustments in our employee compensation were warranted in consideration of the economic times and inflationary environment.”

Industry News

Latino Media Network Names Sylvia Banderas Coffinet CEO

As reported by Sara Fischer for Axios, Latino Media Network – the Hispanic media company partially funded by philanthropist and activist George Soros – names Sylvia Banderas Coffinet chief operating officer. Banderas Coffinet most recently served as general manager at Vox Media. Latino Media Network’s acquisitionim of the conservative Radio Mambí network of Spanish-language news/talk stations from TelevisaUnivision aggravated some conservatives who petitioned the FCC to deny the license transfers. The petition was rejected. The Radio Mambí format goes back to Amancio Víctor Suárez’s launch of programming created by anti-communist Cuban exiles in the mid-1980s. The group of 18 radio stations will gradually be turned over to Latino Media Network throughout this year. Company co-founder Jess Morales Rocketto is quoted saying, “We’re not the first business owners with our own political leanings,” while adding that they are focused on commercial success and not “imposing a political agenda.” Read the Axios piece here.

Industry News

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 duringim 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.”

Industry News

Beasley’s 2023 First Quarter Net Revenue Rises 3.7%

Reporting its operating results for the first quarter of 2023, Beasley Broadcast Group (parent of Beasley Media Group) announces net revenue of $57.8 million, an increase of 3.7% over the same period in 2022 that the company says reflects “a year-over-year increase in digital revenue, local spot revenue and network revenue, partially offset by a decrease in national spot revenue, related to continued softness in the national agency business.” Beasley reports operating income of $400,000 in Q1 of 2023, compared to the operating loss of $2.7 million reported in Q1 of 2022. The company also reports a reduced net loss of $3.5 millionim 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-imline 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.”

Industry News

iHeartMedia Debuts New B2B Podcast Network

iHeartMedia unveils a new B2B (business to business) Podcast Network “created for and hosted by advertising and marketing industry leaders.” The company calls it the “first ‘marketer to marketer’ audio network of its kind” that “gathers leading marketing and advertising podcasts under one umbrella, keeping media executives up to date with industry trends, and making it easier for brands to use audio to reach the largest addressable audience of media executives in audio.” iHeartMedia Digital Audio Group CEO Conal Byrne says, “We know that marketers are hot on podcasts with the majority planning on increasing their advertising spend in audio this year. While marketers are spending more, they’re also listening for longer, which is why we wanted to create a network of podcasts specifically for their industry with content that inspires and educates. iHeartMedia’s B2B Podcast Network brings this highly strategic audience into focus and provides the platform brands need to access them authentically.” Podcasts included on the network is “Math and Magic: Stories from the Frontiers of Marketing,” hosted by iHeartMedia chairman and CEO Bob Pittman.

Industry News

Ramsey Network’s Brian Mayfield Retires

Ramsey Solutions announces that Brian Mayfield – a 15-year staffer who spent the past five years as executive vice president of Ramsey Network – retires from the company. The company says that under Mayfield’s leadership “The Ramsey Show” has grown into the second-largest syndicated talk radio show in America with 640 radio affiliate stations, more than 1 billion podcast downloads and over a billion YouTube views. Dave Ramsey says, “Over the last 15 years, Brian Mayfield has truly become one of the top talk radio executives in the nation and a good friend while he has been with Ramsey Solutions. His early retirement is a loss for all of us at Ramsey and the industry.” Mayfield states, “It has been an honor to work alongside Dave and the rest of the team. I am very proud of the success we have seen to date, but I am even more excited to watch and experience the success of Ramsey Network into the future as a fan. We are sometimes faced with situations that dictate change, I’m embracing mine and looking forward to quality time with my wife and family — I’m truly blessed.” Broadcast veteran Blake Thompson, Ramsey’s first producer when the show began, was named executive vice president of Ramsey Network last year. He will continue to serve in that role.

Industry News

Feniger Named VP of Curtis Media Group Networks

Curtis Media Group announces that Bruce Feniger joins the company as vice president of Curtis Network Group, which includes the North Carolina News Network, Southern Farm Network and North Carolina Sports Network. Feniger has served for the past 12 years as vice president and general manager for Pamal Broadcasting in Hudson Valley, New York and as national sales manager for Pamal’s stations in Albany, Glenn Falls and Rutland, Vermont. Curtis president and COO Trip Savery comments, “I am so pleased to have Bruce join our team in North Carolina. He has enjoyed so much success in local, national and network radio sales and management, and I look forward to him leading our network division.”

Industry News

Hubbard Promotes Wolinsky to Publisher of Federal News Network

Hubbard Broadcasting Washington D.C. announces Jeffrey Wolinsky is rising from director of Federal sales to publisher at the company’s Federal News Network. Hubbard says Federal News Network is “an industry leading trusted news and marketing platform that focuses on the issues and topics affecting the federal government and federal government contracting community.” Joel Oxley is vice president and general manager at WTOP News and Federal News Network. He says, “Each time I have brought new opportunities to Jeffrey he has used his creativity and collaborative approach to create success for our audience, our advertisers and our team. His expertise specifically in identifying trends our organization can leverage to better deliver on our mission will take a higher profile. Leading to even greater overall success. Jeffrey’s vision for the future will align directly with our goal of being the go-to source of federal news for employees and contractors and bringing new products and opportunities to market.” Wolinsky has served at Hubbard DC for the past 20 years.

Industry News

“On Purpose with Jay Shetty” Joins iHeartPodcast Network

iHeartMedia announces that the health and wellness podcast, “On Purpose with Jay Shetty,” joins the iHeartPodcast Network. The press release says the mission of the podcast is “to reach people in today’s global, hyper-connected world – as 1 in 4 people have suffered from loneliness and depression – the biggest factor this generation has ever faced. Despite the pandemic pushing people into overload, creators like Jay Shetty have opened up their heart, mind and platform to reinforce today’s greatest lesson – that vulnerability is a great strength and that people are stronger together.” Shetty comments, “‘On Purpose’ is on a journey to help make people happier, healthier and more healed. Through insightful and vulnerable conversations with icons, experts and cultural figures and weekly workshops, ‘On Purpose’ is dedicated to giving our community the habits and tools to live a more fulfilling life. I’m so grateful for our loyal and ever-growing community who come back every day to listen, learn and grow. As the podcast has scaled globally it made perfect sense to join together with the number one podcast publisher – iHeartMedia. We are so excited for this new chapter for ‘On Purpose.’”

Industry News

Networking at Radiodays Europe

The 13th Radiodays Europe convention took place in Prague this week (3/26-28) and American radio companies had a presence there. Benztown, MusicMaster, P1 Media Group, and Xperi welcomed more than 50 guests aboard a party boat to network and talk about the radio business. Pictured above are (from l-r): Christos Papadas, Skai Group in Athens; Ken Benson, P1 Media Group; Masa Patterson, Benztown; and Andy Sannemann, Benztown.

Industry News

Compass Media Networks Ups Sousa to Director of Affiliate Sales

Compass Media Networks promotes Liane Sousa to the position of director of affiliate sales. New York-based Sousa joined the company in 2019 and Compass says she’ll continue to manage and affiliate content partnerships for morning shows including “DeDe in the Morning” and “Anna & Raven” as well as “The Baka Boyz” Monday – Friday show and numerous weekend mix shows. Liane has recently added “The Frank Ski Show with Nina Brown” and John Tesh’s “Intelligence For Your Life” to her portfolio. She says, “Thank you Peter, Hiram, Nancy, and Adam for your endless support and guidance. I’m so proud to be a part of Compass Media Networks’ talented team and deliver the best product lineup in our industry while serving the utmost value to our content partners and affiliates.”

Job Opportunity

AUN Television Network Seeking Ground Level Entry Executive

Rick Trader, president/CEO of the AUN Television Network informs TALKERS that he is looking to expand his two-year-old ultra-conservative audio and video talk media platform. He’s looking for a sales and management executive (as well as acquiring additional programming). Over the past two years, AUN (American Uncensored Network) – which is billed as a “conservative/faith-based network” – has gained clearance on some 11 TV stations in California and Nevada. Its shows are hosted by an array of well-knownVehicle registration plate - Neon Sign commentators as well as up-and-comers. Trader tells TALKERS he “honestly believes AUN is one of the fastest growing TV and streaming networks in the country.” He states, “Now it is time to expand once again. Our goal is to be broadcasting in every major market in the next two years! This is maybe where an ambitious, hard-working manager can become part of this dream. I am looking to develop a management team to make it happen. If a candidate has expertise in managing finances and accounting, recruiting, human resources, overseeing and developing technologies, as well as creating company policy, sales and marketing, then such an individual might be looking for the challenge of a lifetime.” Trader continues, “I am looking to work with conservative/faithful, passionate ideologs like myself who are concerned with the direction our great republic is heading and want to return it to the Judeo-Christian, faith-based patriotic roots our founding fathers created! Here is the catch: all our progress and success has been achieved on a very tight budget! In fact, we cannot offer salaries. What we can offer is incentives for those who produce to be rewarded.” Interested candidates can contact Rick Trader, president/CEO, AUN TV Network at auntv@yahoo.com.

Industry News

Clay Travis & Buck Sexton Podcast Network Debuts

Premiere Networks announces the launch of The Clay Travis & Buck Sexton Podcast Network with the debut of “The Tudor Dixon Podcast.” Dixon was the 2022 Republican candidate for governor of Michigan. Premiere says, “The new podcast is focused on the important issues that affect the American way of life. FromTudor Dixon - Orthopedics politics to parenting, Dixon – a businesswoman, breast-cancer survivor, and working mom of four girls – will dive deep into a wide variety of topics that touch our lives, while welcoming experts, insiders and headline makers for candid conversations.” Dixon comments, “I’m thrilled to take this leap into the podcasting world and am incredibly grateful to both Clay and Buck for encouraging and supporting me in this new venture. Listeners can expect to hear unique and unabashedly American stories not covered by the corporate media, as well as commentary from expert guests who will get to the truth about the issues impacting you and your family. I look forward to starting this new journey and bringing these stories to the forefront!”

Industry News

“The Professional Homegirl” Joins Black Effect Podcast Network

iHeartMedia and Charlamagne Tha God announce that “The Professional Homegirl Podcast” joins The Black Effect Podcast Network beginning March 21. The program, hosted by Eboné Almon, explores the lives ofSkin - Face 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.”

Industry News

iHeartPodcast Network to Present Influencer Summit

The iHeartPodcast Network announces what it is calling “an industry-first Influencer Summit where some of the most successful podcast creators will open the mic and teach marketers the art of podcast advertising” on Wednesday, April 26, at the iHeartMedia executive offices in New York City. The company says, “The hands-on educational event will feature diverse podcast authorities such as the wildly popular media personality and founder of The Black Effect Podcast Network, Charlamagne tha God; the woman behind the successfulLogo - Graphics ‘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.”

Industry News

Townsquare Media Q4 2022 Net Revenue Up 8.8%; Full Year Up 10.8%

Townsquare Media reports operating results from the fourth quarter of 2022 and for the full year. Net revenue for Q4 of 2022 was $120.3 million, an increase of 8.8% over the same period in 2021. For the full year of 2022, net revenue was $463 million, an increase of 10.8% over the full year of 2021. While net income was up over 100% in Q4 of 2022 over Q4 of 2021, net income for the full year 2022 was $14.4 million, down 23.4% over the full year 2021. While Broadcast Advertising net revenue for the full year 2022 was up 3.8% over the full yearProduct - Logo 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 Bill Wilson - Townsquare Mediadigital 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.”