Industry News

Greg Chance Named SVP/Programming for iHeartMedia

iHeartMedia announces that Greg Chance is named SVP of programming for Des Moines, St. Louis, Indianapolis and the North Dakota Area, effective immediately. This group of markets includes more than 20 stations. Chance returns to the radio business and iHeartMedia after having most recently served as vice president for Diamond Oil.  Chance says, “I am profoundly humbled that iHeart would allow me this opportunity. I look forward to reuniting with my past colleagues and meeting new colleagues in the immediate future. This gives me a sense of peace and I’m extremely flattered and grateful. I look forward to diving back into all of these brands and vetting all the new ones. To say that I am excited to return, would be an understatement.”

Industry News

Black Business Beat Clears Audacy’s Hip Hop WXBK-FM, New York

Bloomberg Radio announces that its clearing of “Bloomberg Black Business Beat” content on Audacy’s hip hop WXBK-FM, New York “94.7 The Block” represents its “breakout into music radio formats, with business and money stories of interest to Black Americans that complement and enhance the music programming they love.” Bloomberg Radio is distributed and repped by Key Networks. The “Bloomberg Black Business Beat” is hosted by journalist Justin Milliner and topics addressed range from the latest trends in Black-owned businesses and profiles of Black entrepreneurs, to a continuing look at diversity in the workplace and an inside look at the business of entertainment. Bloomberg Radio Syndication head Michael Lysak says, “‘The Block’ is such an important part of the soundtrack of New York City. We are proud to be a part of it. Justin Milliner does a masterful job of sharing stories of vital importance to Black Americans, without The Block’s music missing a beat. Here’s to Audacy for recognizing that reports like this don’t interrupt the programming – they enhance it.”

Industry News

FOX News Digital Again Tops in Multiplatform Views

According to the latest data from Comscore, FOX News Digital finished February 2023 as the top-performing news organization in the competitive set in both multiplatform minutes and multiplatform views. This marks five consecutive months as the top news brand with multiplatform views and two straight years as number one with multiplatform minutes. While FOX News Digital – as well as NYTimes.com – still lags behind CNN.com in multiplatform unique visitors (97.4 million to CNN.com’s 117.7 million), it has improved 23% in that category since February of 2022 while CNN.com is down 8% during that period.

Industry News

Top News/Talk Media Stories Over the Weekend

The aftermath of the collapse of Silicon Valley Bank and the state of the global banking system; Manhattan DA Alvin Bragg’s case against former President Donald Trump in the Stormy Daniels matter and Trump’s suggestion his supporters “take to the streets” in protest; Wyoming outlaws the abortion pill; the GOP race for the nomination in ’24; Vladimir Putin visits Mariupol, Ukraine as the Russian invasion continues; China’s Xi Jinping travels to Moscow to visit Putin for the first time since Russia’s invasion of Ukraine; and the first rounds of the NCAA basketball tournaments were some of the most-talked-about stories in news/talk media over the weekend, according to ongoing research from TALKERS magazine.

Industry News

Michael Kay Renews to Continue ESPN New York Show

As reported by the New York Post, afternoon drive personality Michael Kay has signed a contract extension with Good Karma Brands-operated sports talk WEPN-FM, New York “ESPN New York” that is a “seven-figure deal per year and is for multiple years.” The Post reported in January that the 62-year old Kay was seriously considering retirement. Kay announced the deal on his program yesterday (3/16) saying,  “When the story in The Post came out, I was pretty certain that was going to be it and I would leave the show after 21 years in September. It had been a great run, a long run. I just said, ‘That’s it. I’m probably too old to do it.’” Kay is supported on the show by co-host Don La Greca and Peter Rosenberg. The show is simulcast on the YES TV network. Kay also serves as the television play-by-play announcer for New York Yankees baseball games. Read the Post story here.

Industry News

Former Corpus Christi Talk Host Jim Lago Dies

The Caller Times reports the passing of former KKTX-AM, Corpus Christi talk radio host Jim Lago at the age of 74. He hosted the “Lago in the Morning” program on the iHeartMedia news/talk station prior to his retirement in 2019. Lago’s daughter tells the paper that he’d been diagnosed with lung disease and was just beginning treatment. “He just took a turn for the worse.” The Caller Times obit says, “Lago worked in the oilfields as a young adult and returned to the job after Vietnam War service in the Marine Corps. Some of the oil company workers told him that he should try radio because he was entertaining and outspoken. In the mid-1970s he gave radio a try, first in Longview, near his hometown, before moving on to bigger cities.” Lago was inducted into the Texas Radio Hall of Fame in 2016. Read the full obituary here.

Industry News

Proft Says PAC Issue the Result of a Typo

According to a report in the Chicago Tribune, GOP operative and WIND-AM, Chicago “560 The Answer”Dan Proft - Podcast morning drive co-host Dan Proft says a $3 million typo is to blame for the discrepancy in his political action committee’s report. Earlier this week, the paper reported that the Illinois Democratic Party filed a complaint with the State Board of Elections alleging that he didn’t disclose $1.2 million in contributions to the PAC.

Industry News

Top News/Talk Media Stories for Week of March 13-17

The failure of Silicon Valley Bank, the issue of banking regulations, and concerns about bank security came together as the most-talked-about story in news/talk media this week, landing atop the Talkers TenTM. At #2 this week was the state of the U.S. economy and the related policies of the Federal Reserve, followed by the U.S. drone downed by Russia over the Black Sea and the related Russia-Ukraine war at #3. The Talkers TenTM is a weekly chart of the top stories and people discussed in news/talk media during the week and is the result of ongoing research from TALKERS magazine. It is published every Friday at Talkers.com. See this week’s complete chart here.

Industry News

Salem Unveils New Podcast Hosted by Lena Armuth

Salem Media Group announces the launch of the podcast show “Retirement for Real” on Salem-owned SeniorResource.com. “Retirement for Real,” hosted by Lena Armuth, is an investment podcast designed to help retirees make sensible financial decisions in retirement. Armuth says, “Today’s investors deserve to know that investing is simple, affordable, and accessible to all! Collaborating with Senior Resource was a no-brainer for me because our missions are so similar. My podcast is dedicated to empowering and educating retirees on personal finance and investing, and Senior Resource helps me share this message with a broader audience. I’m thrilled to see my podcast has reached listeners from all across the country, and I remain steadfast in my commitment to giving real people the knowledge and tools they need to better understand investing and their finances in retirement.”

Industry News

Audacy Announces BetQL Countdown to Tip-Off

Audacy announces the return of “BetQL Countdown to Tip-Off,” a three-episode series of special men’s college basketball tournament programming. The series airs on March 18, March 25 and April 1 from 8:00 am to 10:00 am ET on BetQL Network, Audacy’s network of sports betting content heard across its broadcast portfolio and digital platforms. The program is hosted by Nick Kostos and Ken Barkley, co-hosts of “You Better You Bet.” The show on March 18 will broadcast live from the BetMGM Sportsbook at Mandalay Bay Resort and Casino in Las Vegas as part of Audacy’s exclusive partnership with BetMGM. Audacy president of sports Mike Dee says, “The men’s college basketball tournament is the premier playoff tournament in American sports, and we’re excited to bring back this informative and entertaining program. Whether you’re trying to win your office pool or cash in on this year’s bracket, ‘Countdown to Tip-Off,’ with Nick and Ken will have you covered with their expert analysis of all the madness this March.”

Industry News

ESPN LA Hosts Pickleball Madness Tournament

Good Karma Brands and its Los Angeles sports talk station KSPN-AM “ESPN Los Angeles” are hosting the inaugural Pickleball Madness Tournament on Saturday, March 18 from 10:00 am to 4:00 pm at the Agape Pickleball Center. Fans will be able to interact and watch their favorite ESPN LA 710 AM personalities compete as well as have the opportunity to win prizes and giveaways, play pop-a-shot, attend pickleball demos and lessons, hang out in the beer garden, enjoy a live DJ and entertainment, watch college basketball, and more. GKB vice president Sam Pines comments, “We are excited to introduce a new event to the ESPN Los Angeles community and team up with our partners to execute at the highest level. The Pickleball Madness Tournament is a perfect opportunity for ESPN LA fans to connect with our content team and engage in one of the most popular sports in the country. We are looking forward to the event coming to life on March 18.

Industry News

Yesterday’s (3/15) Top News/Talk Media Stories

The aftermath of the Silicon Valley Bank and the efforts to assure Americans about the security if the banking system; the U.S. economy. Fed policy, and concerns about a recession; Russia’s downing of a U.S. drone over the Black Sea and the Russian invasion of Ukraine; the U.S. pushes China to force TikTok sale; Texas Judge Matthew Kacsmaryk hears arguments over the FDA’s approval of the abortion drug mifepristone; the ’24 race for the GOP nomination; the 5,000 mile-wide seaweed blob headed to the shores of Florida were some of the most-talked-about stories in news/talk media yesterday, according to ongoing research from TALKERS magazine.

Industry News

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.”

Industry News

iHeartMedia Presents 5th Annual iHeartPodcast Awards

Last night (3/14), the 5th annual iHeartPodcast Awards were presented virtually as the ceremony was hosted by actor and comedian Brian Baumgartner. The iHeartMedia-produced awards “brought together the most influential names in podcasting to honor the most entertaining and innovative podcasts of 2022, celebrating the 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.  See all the winners here.

Industry News

Illinois Dems File Complaint Against WIND-AM, Chicago’s Dan Proft

The Chicago Tribune is reporting that the Illinois Democratic Party has filed a complaint with the State Board of Elections alleging that Dan Proft didn’t disclose $1.2 million in contributions to the conservative political action 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.”

Industry News

Sandy Clough and Shawn Drotar Join “Mile High Sports”

Denver sports talk personalities Sandy Clough and Shawn Drotar are back on the air in Denver co-hosting the 2:00 pm to 4:00 pm show on “Mile High Sports” (KQKS-HD3, Lakewood and K251CV, Golden). Both hosts previously served with Bonneville’s crosstown sports talk KKFN, Denver “104.3 The Fan.” Mile High Sports 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.”

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 of 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

Yesterday’s (3/14) Top News/Talk Media Stories

A U.S. military drone is knocked out of the sky by a Russian fighter jet over the Black Sea; the failure of Silicon Valley Bank and concerns about regulation and the banking industry; inflation, the state of the U.S. economy, and Fed policy; today’s scheduled arguments in a Texas court over access to the abortion pill; President Joe Biden issues executive order strengthening gun purchase background checks; the Republicans vying for the 2024 GOP nomination for president; Russia’s ongoing invasion of Ukraine; Facebook parent Meta announces layoffs of another 10,000 employees; and the atmospheric river that deluged California and left hundreds of thousands without power & the Nor’easter that dumped snow on the Northeast were some of the most-talked-about stories in news/talk media yesterday, according to ongoing research from TALKERS magazine.

Industry News

Yesterday’s (3/13) Top News/Talk Media Stories

The failure of Silicon Valley Bank, concerns about other banks and the controversy over bank regulation; the government’s inflation report and whether the Fed will hike interest rates or stand pat; U.S.-Mexico border troubles and Texas’ move to create its own border police force; President Joe Biden approves a new oil drilling project in Northern Alaska; the GOP contenders for the ‘24 GOP nomination; Russia’s aggressive assault on eastern Ukraine; China warns U.S. over nuclear sub deal with Australia; former Donald Trump attorney Michael Cohen set to testify before Manhattan grandy jury investigating the Stormy Daniels hush money allegations; and the atmospheric river dumping more rain on Northern California and the Nor’easter piling snow on the Northeast were some of the most-talked-about stories in news/talk media yesterday, according to ongoing research from TALKERS magazine.

Industry Views

Pending Business: What’s a Sale?

By Steve Lapa
Lapcom Communications Corp
President

Let’s take a lesson from arguably the greatest college basketball coach of all time: John Wooden.

The coach wanted every UCLA player on the same page, so he took time in meetings to explain the proper way to put on those old school basketball socks. You know, the ones that came up to mid-calf, usually double stripped at the top. There was a clear method to Wooden’s genius. Taking meeting time to show budding superstars like Kareem Abdul Jabbar and Bill Walton something so fundamental achieved several goals.

 — Fundamentals count. There is nothing more basic than how to properly put on your socks and mastering the basics wins.

— Short cut the basics and you will suffer. Having worn those socks through thousands of school yard games myself, rush the process and painful blisters follow.

— Every player starts every practice, every game the same way.

Every year I would conduct one sales meeting asking my team to answer the question, “Can you define a sale?” I know, that’s way too basic for sellers earning six figures. It’s an embarrassing waste of time for the tenured sellers who had proven themselves in the field every day. Was I wasting the time of those newer team members who were looking forward to the highest commission rate in the market?

Try it. Chances are you will get so many different answers your sales team will seem like a Cirque du Soleil act.

There IS a simple, legal definition of a sale. It all starts with an “exchange.” Once you dissect the definition and focus on the dynamics of the “exchange” you will understand how and why a sale is a process that needs constant care.

Most sellers and managers move right past that critical dynamic. You know the one that requires confidence from both the buyer and the seller. That one dynamic, the exchange between confident buyer and seller goes back to 1626 when it was rumored Peter Minuit bought Manhattan Island for 60 guilders or $24.

There is something to be said for getting all sellers on the same page by starting with the basics.

John Wooden’s record 11 national championships still stands. I figured if it worked for the greatest college basketball coach of all time, it could work for me. Emphasizing the basics should work for you too!

Enjoy the Madness this March.

Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com

Industry News

CBS News Radio’s World News Roundup Marks 85th Anniversary

Today (3/13), CBS News Radio marks the 85th anniversary of its “World News Roundup” radio program with special programming throughout the day. CBS News Radio says, “When it launched on March 13, 1938, ‘World News Roundup’ changed broadcasting forever by being the first program to feature correspondents stationed around the globe reporting for one live broadcast. The first broadcast was anchored by Robert Trout and 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.

Industry News

TJ Dula Named SVP of Sales for iHeartMedia Raleigh

iHeartMedia names TJ Dula SVP of sales for the Raleigh operations, effective immediately. Dula joins the market from the Disney ABC Television Group, where she most recently served as the digital sales director. 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.”

Industry News

Beasley Philly VP and Market Manager Joe Bell Celebrates 50 Years

Beasley Media Group Philadelphia vice president and market manager Joe Bell was honored with a surprise celebration of his 50th anniversary in broadcasting at the company’s offices in Bala Cynwyd on Friday (3/10). The ceremony included remarks from CEO Caroline Beasley and proclamations from the Philadelphia City Council and its mayor, the Honorable Jim Kenney, as well as the presentation of a custom gold record plaque and a “Joe Bell 50” Sixers jersey from the 76ers by vice president of sales Paul Blake. Bell says, “I got into the business because it looked like fun. It was fun in 1973 and it’s still fun in 2023!” Pictured above is Bell (at center) surrounded by the staff of Beasley’s Philadelphia radio stations.

Industry News

The Weekend’s Top News/Talk Media Stories

The fallout from the failure of Silicon Valley Bank; the attempts by large groups of people to enter the U.S. by overwhelming border guards in El Paso and other border crossing locations; the 2024 presidential race; former Donald Trump attorney Michael Cohen set to testify before Manhattan grand jury investigating the Stormy Daniels hush money allegations; Russia’s ongoing assault on the Ukrainian city of Bakhmut; the atmospheric river event destined for Northern California that will bring more rain and potential flooding to the region; and Sunday evening’s Academy Awards show were some of the most-talked-about stories in news/talk media over the weekend, according to ongoing research from TALKERS magazine.

Industry News

Benztown Unveils Expanded and Updated News/Talk Library

The company breaks out its new Benztown News/Talk audio imaging library for radio stations, that focuses on bringing updated and more frequent caller and host audio, an accelerated update schedule, and more daily topical promos and sweepers designed exclusively for news/talk stations. Benztown says the updates include a refocused approach based on caller/listener interaction and daily topical pieces. It adds, “The Benztown 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.” Listen to a composite of the expanded Benztown News/Talk Library, paired with Benztown’s companion library Ambush here.

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 successful ‘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

Syndicated Radio Physician Dr. Asa Andrew Expands TV Footprint

Asa Andrew, M.D. – known to his growing audiences on radio and television as Doctor Asa – has just filmed his fifth reality health series. Titled, “Reversed,” the program focuses on the global challenges of diabetes and weight-related issues. Doctor Asa serves as the program’s executive producer as well as one of the lead talents. The latest installment was filmed in Costa Rica and will be released on Discovery later this year. Doctor Asa, in addition to his array of media products and roles, recently signed a deal with Impact Wrestling as a ringside physician “character.” He tells TALKERS, “The word ‘doctor’ is derived from the Latin word for ‘teacher’ and I view my varied roles in talk media as extensions of that concept.”

Pictured at the filming of “Reversed”: Doctor Asa (left) interviewing Tony Jimenez, M.D. (right) a leading cancer doctor. Doctor Asa will be one of 60 talk media speakers at the forthcoming TALKERS 2023 at Hofstra University on Friday, June 2. To register or obtain sponsorship information, call Barbara Kurland at 413-565-5413.

Industry News

Top News/Talk Media Stories for Week of March 6 – 10

The relations between the U.S., China, and Russia as China threatens the U.S. for trying to “encircle and contain” it while the U.S. watches China cozy up to Vladimir Putin and refuse to condemn Russia’s aggression in Ukraine was the most-talked-about story in news/talk media this week, landing atop the Talkers TenTM. At #2 this week was the use of security video from the U.S. Capitol by FOX News personality Tucker Carlson to downplay the events of January 6, followed by the state of the U.S. economy and the Fed’s warning that interest rates will continue to be pushed up at #3. The Talkers TenTM is a weekly chart of the top stories and people discussed in news/talk media this week and is the result of ongoing research from TALKERS magazine. It is published every Friday at Talkers.com. See this week’s complete chart here.

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 year 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.”

Industry News

Salem Q4 2022 Revenue Falls 0.5%; Full Year Revenue Up 3.4%

Salem Media Group’s total revenue during the fourth quarter of 2022 was $68.8 million, down 0.5% compared to Q4 of 2021. For the full year 2022, total revenue was $205.3 million, an increase of 3.4% over the full year of 2021. The company reports a loss of $2.2 million for Q4 of 2022 and a loss of $3.2 million for the full year of 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.”

Industry News

Saga Communications Q4 2022 Revenue Up 3.3%; Full Year 2022 Up 6%

Reporting its operating results for the fourth quarter of 2022 and for the full year, Saga Communications reports net revenue increased 3.3% to $30.1 million for Q4 of 2022, compared to $29.2 million for the same period a year ago. It says net revenue increased 6% to $114.9 million for the full year of 2022 compared to $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.”