Townsquare Media Third Quarter Revenue Declines 5%
Townsquare Media reports its financial data for the third quarter of 2023 and says net revenue for the period was $115 million, a decrease of 5% compared to the third quarter of 2022. The company reports a net loss of $36.5 million, compared to the net income of $2.8 million it reported in the third quarter of 2022. Townsquare reports operating results by segment. It’s Broadcast Advertising segment reports
revenue of $54 million, a decline of 8.6% year-over-year. It’s Subscription Digital Marketing Solutions segment revenue was $20 million, down 12.6% from Q3 of 2022, and its Digital Advertising segment revenue was $39 million, up 5.5% year-over-year. Townsquare Media CEO Bill Wilson states, “The strong cash generation characteristics of our assets allowed us to produce $39 million of cash flow from operations in the first nine months of 2023, an increase of $7 million as compared to the prior year. We could not be more pleased to share that given our strong cash position, we were able to repurchase and retire approximately $14 million of our Unsecured Senior Notes at a discount during the third quarter, bringing our year-to-date total bond repurchases to $27 million. In addition, we repurchased approximately 94,000 Class A shares in the third quarter (in total, we’ve repurchased 1.7 million shares in 2023), and continue to pay a high-yielding dividend while also investing in our business. We also ended the quarter with a strong cash balance of $38 million and net leverage of 4.49x, retaining financial flexibility moving forward.”
NPR’s “Up First” taking over the #2 spot from NBC News’ “Dateline NBC,” which falls to #3. Other commercial radio-related podcasts charting in the top 20 include The Daily Wire’s “The Ben Shapiro Show” at #6, Cumulus Podcast Network’s “The Dan Bongino Show” at #9, and iHeartPodcast’s “Stuff You Should Know” at #10. The ranker is based on Unique U.S. Monthly Audience for participating podcasts.
The Broadcasters Foundation of America announces that Jordan Wertlieb, executive vice president and chief operating officer of Hearst is the 2024 recipient of the Broadcasters Foundation of America Golden Mike Award. The award will be presented during a black-tie fundraiser on March 4, 2024, at the Plaza Hotel in New York City. Wertlieb says, “I am honored by this recognition from the Board of the Broadcasters Foundation. The Broadcasters Foundation’s mission is to provide financial aid to our colleagues whose lives have been impacted by illness, accident, or natural disaster. I am committed to helping those in need and grateful to all who support this important organization.”
Providence-based talk host, podcaster, journalist and musician Bill Bartholomew says, “In a world where social media influencers and podcasters supply information to millions of young consumers, news/talk radio should be able to effectively compete for the ears of younger generations in a comparable, if not expanded way.” In a piece written for TALKERS magazine. Bartholomew says, “Unlike many digital-first content producers, radio retains a unique quality: authority. By virtue of editorial standards, FCC regulation and brand – things that social media and podcasts often lack – radio has the unique ability to deliver credible, vetted, nuanced and universally trustworthy content that can instantaneously adapt to meet the needs of the moment. This is true in everything from natural disasters to rapidly evolving breaking news stories, providing a channel for immediate, reactionary insight and analysis.” To that end, he suggests four steps news/talk stations should pursue. 
conversations and connections on topics relevant to our local communities throughout the year.” The next “Audacy Conversations” explores the state of downtown. It says, “Over three years later, America’s cities are still grappling with challenges and unexpected fallout caused by the COVID-19 pandemic. WBBM Newsradio (WBBM-AM/WCFS-FM) in Chicago will host a live town hall on November 9 to explore those impacts in-depth and what’s at stake for businesses and community members as cities look to revitalize their downtowns.” The program will air on WBBM Newsradio, KRLD NewsRadio 1080 (KRLD-AM) in Dallas, WWJ News Radio 950 (WWJ-AM) in Detroit, KNX News 97.1 FM (KNX-FM) in Los Angeles, WCBS 880 (WCBS-AM) in New York, KYW Newsradio (103.9 FM/1060 AM) in Philadelphia and KCBS All News (106.9 FM/740 AM) in San Francisco on November 16 at 7:00 pm local time. It will also air on WBEN-AM, Buffalo; WCCO-AM, Minneapolis; WWL-AM/FM, New Orleans; KDKA-AM, Pittsburgh; and KMOX-AM, St. Louis. Throughout the week of November 13 to 17, the all-news stations will air special content catered to the town hall topics, including interviews, news stories and feature reporting.
video saying it violates its community guidelines that “prohibit linking to content containing manifestos from individuals who have committed violent attacks.” Crowder issued a notice on X regarding the removal of the content, saying, “YOU determine what matters. YOU determine the content. Not YouTube, not the rest of BigTech, not their lackies, and not a gaggle of sponsors who don’t have the b***s to stand behind the kind of content you actually want to see.” According to a report by Newsweek, “The Metro Nashville Police Department has not confirmed that the screenshots shared by Crowder are Hale’s manifesto. A department spokesperson told Newsweek Monday that police were ‘unable to confirm the authenticity of what has been released, although we are looking into that at this very moment.’” 
Folks in the Gen Z and millennial demographics are heavily 
promotions department at KNBR and was later hired at KNBR as a part-time board operator. In 2017, Copeland was promoted to full-time producer of “KNBR Tonight,” was then named host of “The Leadoff Spot,” and served as producer/board operator of the “
weekly podcast listeners age 13+. The top four shows in Q3 remain unchanged in rank from Q2: “The Joe Rogan Experience,” “Crime Junkie,” “The Daily,” and “This American Life.” Other radio related podcasts ranked on this chart include iHeartPodcasts’ “Something You Should Know” at #9, The Daily Wire’s “The Ben Shapiro Show” at #17, Ramsey Networks’ “The Ramsey Show” at #21, and Cumulus Podcast Networks’ “The Dan Bongino Show” at #29.
company says, “The numbers don’t lie. America’s military heroes are struggling with money. A recent survey conducted by Wounded Warrior Project finds six in 10 veterans did not have enough money to make ends meet at some point in the past year. The survey also finds the rising cost of goods is the top-rated source of financial strain.” Dave Ramsey comments, “Veterans who’ve selflessly served to protect our freedom deserve to feel freedom for themselves and their families. It’s not just about financial education; it’s about transformation. Winning with money takes sacrifice, perseverance and determination — qualities veterans know all about. We’ll give them the tools, and they’ll get it done.” 
The fourth of four rounds of ratings information from Nielsen Audio’s October 2023 PPM survey has been released for 12 markets including Austin, Raleigh, Indianapolis, Milwaukee, Nashville, Providence, Norfolk, Jacksonville, West Palm Beach, Greensboro, Memphis, and Hartford. The survey period covers September 14 through October 11. Today, TALKERS magazine managing editor Mike Kinosian presents his Ratings Takeaways from this group of markets. In Austin, Waterloo Media’s news/talk KLBJ-AM adds 1.3 shares (weekly, 6+ AQH share) to finish with a 4.7 share that lifts it from the #10 rank to #5. In Milwaukee, iHeartMedia’s news/talk WISN adds one-tenth for a 9.7 share finish that’s good enough to lift it to the #1 rank, as Good Karma Brands’ news/talk WTMJ sheds two-tenths for a 9.6 share and the #2 rank. In West Palm Beach, Hubbard Broadcasting’s news/talk WFTL rises half a share to a 2.3 share and jumps to the #9 rank, as iHeartMedia’s talk WZZR loses one-tenth to finish with a 1.8 share good for the #13 rank and sister news/talk WJNO is up one-tenth to a 1.2 share and is ranked #14 for the fourth consecutive month. 
WRHU-FM, Hempstead, New York chief engineer Andy Gladding played a role in organizing the November 8 event when eight university and high school owned-and-operated stations broadcasting in the 88.1-88.9 segment of the FM band in the number one media market in the country join together to celebrate their love of college radio. Starting at 12:00 noon ET, “The Big 88” will become New York and New Jersey’s largest college radio station, covering an FM broadcast footprint of over 120 miles. In a story written for TALKERS magazine, Gladding says that despite the rash of American colleges selling their radio properties, the New York market has a vibrant college radio community. He says college radio stations have a special value. “I have spent 20 years working as a student volunteer and administrator at WRHU, ‘Radio Hofstra University,’ and have seen first-hand how college radio contributes to the growth and success of students looking to pursue a career in radio, television and digital media. Students and community volunteers who participate at college radio stations find themselves engaged in a diverse community of voices, opinions and music. While their approach and interests may be different, their practice at the college radio station unites them with one unified goal: to serve the listening audience by creating imaginative and alternative audio programming using the university’s FM transmission facility as their channel to the world. 
award-winning and barrier-breaking broadcast professional who has built her brand and ‘America Tonight’ show to be trusted and respected. Kate’s been a dependable weeknight talk host for 15 years. Her affiliates know her as a super-serving talent who goes the extra mile for them. Listeners know ‘America Tonight with Kate Delaney’ as an entertaining show to stay ‘in the know.’” Delaney adds, “I look forward to expanding and growing the show with the talented professionals at TMN. I’m passionate about talk radio and its ability to bring people together to inform, entertain and surprise listeners.” Stations interested in the program can reach out to 
College radio is a special place on the FM dial. Listeners know it as the channel at the low end of the band where student and volunteer DJs have free reign to play music not usually heard from commercial operators. College students recognize it as a place where they can hone their broadcasting skills and put their passion and talents to work to prepare for a career in the industry. Hiring managers recognize it as a proving ground that provides quality pre-professional development and a destination to seek out qualified candidates to fill entry level media industry roles.
Spoken Word Audio Report 2023. According to data from the study, 48% of those in the U.S. age 13+ listen to some type of spoken-word audio daily, and audio consumers in the U.S. age 13+ spend 31% of their daily audio time with spoken word. They say this edition of the study focuses on listening locations and explores spoken-word audio consumption at home, at work, in-car, and other locations. 
“AUDA.” Audacy says, “The NYSE’s determination has no impact on Audacy’s business strategy or operations. Audacy continues to focus on growing and enhancing its capabilities as a leading, multi-platform audio content and entertainment company, and continues to engage in discussions with its lenders to deleverage its balance sheet and improve its capital structure to position Audacy for long-term growth.”
advertising. In 2016 and 2017, direct response represented the vast majority of podcast advertising. From 2018 to 2021, the proportion of podcast ad spend was equally split between brand and direct response.” The post says there are four major implications of the shift to podcast brand advertising: 1) Targeting will become much broader: Wide campaign reach will become the priority with a goal of “being known before you’re needed”; 2) Creative will shift to become more entertaining and emotion based: The objective will be to stir passions and create positive feelings and associations with ads that people find interesting and enjoyable; 3) Brand safety and suitability measurement will become more crucial: Firms like Barometer will become powerful resources to help marketers find the right context for their campaigns with nuanced data; and 4) Measurement will focus on how well campaigns build memories to ensure brands are “easy to mind and easy to find”: Key performance indicators are brand awareness, brand consideration, and brand preference. 
October 2023 PPM Data – Information for the October 2023 ratings period (September 14 – October 11) has been released for New York, Los Angeles, Chicago, San Francisco, Dallas, Houston, Atlanta, Philadelphia, Nassau-Suffolk (Long Island), and Riverside-San Bernardino-Ontario.