BIA Advisory: U.S. Local Ad Revenue Estimate Lowered
Due to “a mixed start in the economy this year and the tempered growth in digital advertising,” BIA Advisory Services is lowering its estimated U.S. local advertising revenue for 2023 to $161.7 billion – down from its original estimate of $165.7 billion. The company says that after looking at the first six months of the year, it decided the reduction was necessary. Vice president of forecasting and analysis Nicole Ovadia says, “After years of double-digit growth, we are seeing some headwinds that will have a significant impact on digital local advertising.” BIA is now expecting digital media revenue for 2023 to be $78 billion (down from its earlier estimate of $81 billion). Radio digital revenue – ex political – is expected to rise by 4.1% over 2022. “When examining the top spending sub-verticals, BIA advises that later in the year, growth is expected in Auto, and the company is raising expectations for Tier 3 – New Car Dealers, and Automotive Repair Services. Other important verticals for local advertising where BIA is raising expectations include Savings/Credit Institutions and Other Loan Services, Plumbers and HVAC, and Realtors.”
and operations. She is a native Nebraskan who is passionate about local media and the Omaha community. Byars understands our commitment to excellence, and we are thrilled to have her join our talented team in Omaha.” Byars has served in leadership positions with Lee Enterprises, Berkshire Hathaway Media, and the Omaha World-Herald. She comments, “Radio has such a positive impact on so many of our listener’s lives, the local businesses we serve, and the community partnerships we form. Joining the team at the radio stations that I grew up listening to is such an honor to me and I am excited to build upon the stations’ legacies.”
W227CL at 93.3, licensed to Port Jefferson, New York. Pictured above is JVC president and CEO John Caracciolo (left) with seller Commercial Assets Inc president Mike Celenza (right) at the transmitter site. JVC is airing a classic hits format on the frequencies but says that a new format is coming to the station soon. The broker on the transaction was Mark Jorgenson of Jorgenson Broadcast Brokerage, Inc.
operations Masa Patterson says, “For years, we have been dealing with CRM programs with inferior functionality designed for other industries. With ARC, Jason [Bailey] has created the Porsche of CRM/database software specific to the network radio space, and you know how Benztown appreciates a good performance vehicle. We love the product and partnership.”
fundraiser is the BFoA’s second largest annual fundraiser. Comerford says, “The Broadcasters Foundation is the only charity devoted exclusively to providing aid to our colleagues in broadcasting who are in dire need. For me, chairing the Celebrity Golf Tournament is an opportunity to give back.” BFoA president Tim McCarthy comments, “We’re grateful that Frank is donating his time and leadership to this year’s Celebrity Golf Tournament. The Celebrity Golf Tournament brings in a significant amount of the much-needed dollars we need to continue to help our colleagues who have fallen on tragic circumstances and need our help.”
prior to the date of the notice. Salem now has a compliance period of 180 calendar days in which to regain compliance for the minimum bid price requirement. That expires on December 20, 2023. To regain compliance, the minimum bid price of the Common Stock must meet or exceed $1.00 per share for a minimum of 10 consecutive business days at any time prior to the compliance date. In its filing with the Securities and Exchange Commission, Salem says it intends to monitor the closing bid price of the Common Stock and may, if appropriate, consider implementing available options to regain compliance with the minimum bid price requirement under the Nasdaq Listing Rules.
very successful track record in radio. His experience as a college athlete gives him a truly unique perspective. This is a robust market for sports. College rivalries dominate the landscape while local pro teams like the Carolina Hurricanes, NC Courage and Durham Bulls unite fans under one umbrella. Tim’s coverage will give listeners a broad understanding of the sports that intersect here, and his expert analysis will pinpoint what’s at stake for fans, teams, and the Triangle.” Capitol says, “Afternoon drive on ‘99.9 The Fan’ will also feature the talents of local favorite Dennis Cox, who will produce the show and take on a larger on-air role alongside Tim.” Donnelly will also contribute web content and analysis on WRALSportsFan.com and original longform audio content for the Capitol Broadcasting Podcast Network.
on his long-running “Urban View” channel program on Sirius XM Satellite Radio. The two legendary radio figures took a deep-dive into the subjects of podcasting, AM radios in cars, the role of boomers in today’s culture and the way in which the annual TALKERS Heavy Hundred list is compiled. Don’t miss this conversation! 
Smiley adds, “We launched KBLA Talk 1580 on Juneteenth, two years ago, during the height of the COVID-19 health crisis. We’re extremely proud that in two short years, KBLA Talk 1580 has become a trusted community resource in Los Angeles and beyond. Our mission to enlighten, empower and encourage, resonates with our growing audience.” Additionally, over the past two years the company has launched SAM Digital, its own brand of white label products that are designed to help businesses and service providers reach an even wider audience, grow brand awareness, and increase sales by targeting specific audiences with direct messaging and by measuring the performance of their outreach campaigns. It also recently debuted the SmileyAudioMedia Podcast Network to expand beyond traditional radio broadcasting.
Dawn Davenport is seen every Saturday on the college football sidelines, and her relationships and knowledge of the SEC are huge assets for ‘104.5 The Zone’ listeners. Ron Slay is an SEC Player of the Year for the Tennessee Volunteers Men’s Basketball team and is a beloved natural entertainer.” Cumulus Nashville VP/market manager Allison Warren and program director Paul Mason say, in a joint statement, “Today, we celebrate the powerhouse trio Brent Dougherty, Dawn Davenport and Ron Slay. They have proven time and again to be a driving force behind 104.5 The Zone’s success, dominating the ratings and capturing the hearts of our listeners. They have an undeniable chemistry—a lightning in a bottle connection that brings our audience together. We are grateful to our clients, who have become our biggest fans, for choosing this remarkable station and these influential personalities to support their local businesses.”
Lucid, Bose, Samsung and Xbox, as well as on the TuneIn mobile app and TuneIn.com. The agreement also gives Audacy access to TuneIn’s advertising supply and brings select TuneIn original content to the Audacy digital platform. Audacy chief digital officer J.D. Crowley 
comments, “Streaming of AM/FM Radio is one of the fastest growing segments of all digital audio today. As consumer demand for Audacy’s best-in-class local audio content continues to increase, we’re committed to meeting the listener wherever they wish to consume, and we’re delighted to expand the availability of our unique live sports, news, and personality-driven audio content to over 200 new TuneIn-supported platforms. We’re equally thrilled to welcome TuneIn’s premium exclusive content to the Audacy digital platform.”
In the early 1980s, talk radio made a $4 billion mistake. Prior to then, there were approximately 50 full-time talk stations in America. They were predominantly found in major markets and had been in the format since Marconi. The original talk stations had two key traits: They were dominant in ratings and much of their popularity was driven by women hosts.
Then Mary Margaret read live copy. OR Mary Margaret had her guests read live copy. Sales for advertisers exploded. (Source: It’s One O’ Clock, Time for Mary Margaret McBride by Susan Ware 
podcast averages more than 13 million monthly downloads. Premiere Networks president Julie Talbott says, “We couldn’t be more proud of what Clay and Buck have accomplished together over the past two years. They had big shoes to fill, and they hit the ground running with their fresh, dynamic and entertaining brand of news talk. The results speak for themselves, and we’re proud to mark this milestone with them as they continue to deliver impressive returns for our partners.”
Erick Erickson as the new afternoon talk show host on WYRD-FM, an unsurpassed team of talent will serve the Upstate, north Georgia and western North Carolina. Erick’s thought-provoking discussions, unyielding insight and captivating presence will be a welcomed addition to our listeners and partners. Erick will complete News/Talk 98.9 WORD’s incredible lineup, allowing us to provide unmatched content for listeners and the largest and most effective platform for advertisers.” Erickson is syndicated via Compass Media Networks. 
4,000 largest US stocks as of April 28, 2023, ranking them by total market capitalization. Membership in the US all-cap Russell 3000 Index, which remains in place for one year, means automatic inclusion in the Large-Cap Russell 1000 Index or Small-Cap Russell 2000 Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12.1 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
Has this happened to you? Moments after you have met someone, you forget his or her name? OOPS.
Class A Common Stock and 1,125,000 shares of Class C Common Stock). The purchase price of $14.6 million was funded with cash on hand. Townsquare CEO Bill Wilson states, “We could not be more pleased to share that given our strong cash position, we were able to repurchase approximately 8.5% of our total shares outstanding (and nearly half of MSG’s ownership in Townsquare), capturing a positive return for our shareholders. Due to our strong cash flow generation, we have demonstrated Townsquare’s ability to support a high-yield dividend and repurchase debt and equity, while also simultaneously investing in the future of our digital growth engine. This repurchase is immediately accretive to shareholders and we thank our board of directors for their vote of confidence in our medium and long-term business plan to grow revenue and profits.”
brought Carton back to WFAN after he served a year in prison for fraud. He said, “I had a saint in my corner. A gentleman by the name of Chris Oliviero. He has maintained his support of me as a friend and a brother through all the ups and downs of my radio career. When I got myself in trouble, he came and visited me. He told me if I ever got my life back in order and figured out why I made the bad decisions I made, he would be there for me. No guarantees of a job, but that he would never stop being my friend. Having a guy like that as your friend, I’m the luckiest guy in the world. Not only is he my friend, but he paved the way for me to come back to WFAN.” The WFAN website says Carton will continue to do his weekend gambling addiction program, “Hello, My Name is Craig” show that airs on WFAN on Saturday mornings. He added, “WFAN has meant the world to me. If WFAN didn’t give me the opportunity to come back and restart a career, no joke, I’m unemployable… so, walking away from WFAN is not easy. WFAN is my home.”
Radio Hall of Fame nominating committee. The nominees are: Bert Weiss, Bob Rivers, Charles Laquidara, Dyana Williams, Gerry House, Jaime Jarrin, John & Ken, John DeBella, Johnny Magic, Kevin Matthews, Kid Leo (Lawrence Travagliante), Larry Elder, Laurie DeYoung, Lee Harris, Rev. Louise Williams, Bishop, Mark Simone, Mary McCoy, Matt Siegel, Mojo in the Morning, Monica May, Nina Totenberg, Pat St. John, Shadoe Stevens, and Shelley “The Playboy” Stewart. 2023 Radio Hall of Fame inductees will be announced Monday, July 24, and honored in-person at the 2023 Radio Hall of Fame induction ceremony on Thursday, November 2, at the InterContinental New York Barclay Hotel in New York City. Radio Hall of Fame co-chairman Kraig Kitchin states, “Congratulations to each of this year’s’ nominees on this recognition. Behind this slate of nominees, the nominating committee reviewed more than 2,500 incoming suggestions from industry members and listeners before determining this group of talented individuals. Each nominee is deserving of induction, and I look forward to the results of the forthcoming confidential voting results.”
from the 2023 TASTE AWARDS. “What’s Cookin’” won its award for Best Food or Drink Radio Broadcast in a ceremony that took place in Beverly Hills. Horn says, “We are thrilled to have been selected as the TASTE AWARD winner in the all-important Best Food or Drink Radio Broadcast. It’s quite an honor to be recognized by those who voted for “What’s Cookin’ Today” and it’s quite an honor to bring the show daily to our incredible national listening audience.”
streaming platforms. Attendees will discuss the latest radio and automotive trends and how AM operators can prepare their stations for the future. Senators Ed Markey (D-MA) and Deb Fischer (R-NE) will also offer insight into recently introduced legislation aimed at preserving AM radio in automobiles and representatives from the Federal Emergency Management Agency will discuss AM radio’s critical role in the National Public Warning System. Following the conference, attendees will travel to Capitol Hill to speak with lawmakers about the importance of in-vehicle AM radio, especially during times of emergency and they will encourage congressional passage of the AM Radio for Every Vehicle Act. 
June 11 with an interview with the former president. Red Apple Media CEO John Catsimatidis says, “Roger’s impressive career has established him as a prominent figure in American politics. His wealth of experience offers an insider’s view into the political landscape, providing listeners with rare behind-the-scenes insights, razor-sharp analysis, unparalleled insights, and dedication to the truth will captivate audiences worldwide,”
Dominion Voting Systems settlement but Carlson remains under contract to FOX (through the end of 2024) and is still being paid by FOX. This is a fairly standard non-compete situation found in most television and radio contracts. Carlson and his attorney, Harmeet Dhillon, argue that FOX is attempting to stifle Carlson’s First Amendment rights. This case appears to be headed to court. 
including 5,000 shares of the Company’s Class A common stock that were tendered through notice of guaranteed delivery. Cumulus says the aggregate cost will be approximately $5.7 million, excluding fees and expenses relating to the tender offer. These shares represent approximately 9.8% of the Company’s outstanding Class A common stock as of June 9, 2023.