Front Page News Industry News

Monday, November 7, 2022

Beasley Broadcast Group Q3 Net Revenue Rises 1.5%. Financial data from Beasley Broadcast Group’s third quarter of 2022 reveals net revenue of $63.8 million – an increase of 1.5% over the same period in 2021. The company reports operating income of $4.7 million in the third quarter of 2022 compared to $4.9 million in the third quarter of 2021. It says this slight decrease was driven by a $1.2 million increase in corporate expenses related to investments in its digital business as well as severance expense, partially offset by a year-over-year increase in Station Operating Income (SOI, a non-GAAP financial measure). Beasley reports net income of $500,000 compared to the net loss of $1.6 million it reported during the same period a year ago. Station operating income increased by 5.1% to $12.3 million in the third quarter of 2022, up from $11.7 million in the third quarter of 2021. The company says the increase is primarily attributable to higher net revenue, which more than offset higher operating expenses. Chief executive officer Caroline Beasley says, “Beasley delivered another strong period of operating and financial performance, reflecting the ongoing success of our digital transformation and revenue diversification strategies. Top-line growth was the primary factor contributing to a 5.1% year-over-year increase in SOI to $12.3 million and was driven by continued strength in local audio advertising and impressive growth in our digital business. Regarding the economic environment, like many companies, we are managing through some challenging market conditions with a focus on what we can control. We continue to experience increased volatility in national spot advertising, which accounted for approximately 15% of our third quarter net revenues. The ongoing strength of our digital and local audio advertising revenues is helping us to partially offset these declines. We are also taking actions on the expense side, and have implemented approximately $10 million in expense reductions, of which roughly half were from a reduction to headcount. Digital remains a key component of our revenue diversification strategy. Digital revenue increased 23.1% year-over-year representing 16% of total third quarter revenues, while our digital margin improved. Our digital performance benefitted from a first full quarter contribution from the white label digital agency we acquired in late June, which we believe will continue to accelerate our digital revenue growth and provide meaningful synergies with our growing digital platform. In both the second and third quarters, digital revenue accounted for a larger share of our revenue than national advertising, and we expect this revenue source to continue offsetting national spot weakness in the coming quarters. Total outstanding debt as of September 30, 2022 was $290 million. In summary, we believe these results demonstrate the strength and relevance of our industry-leading audio and digital content, as well as our teams’ extraordinary efforts to serve our listeners, customers and communities through challenging circumstances. And while we cannot control how the economic situation evolves in the coming months, we have already taken decisive steps to mitigate the impact of near-term headwinds and drive continued progress against our long-term growth strategy. Looking ahead, we will continue to focus on maximizing our growth opportunities, managing our expenses and capital structure, serving our audiences and advertisers and delivering results for our stockholders.”

Monday Memo: Your Podcast ‘Bones.’ Like your on-air work, your podcast is a show. And consultant Holland Cooke figures that “as a professional broadcaster, you enter the on-demand audio arena advantaged over others…BUT…” In this week’s column, HC cautions that – given the way podcasts are consumed – your format is critical. Read it here.

 

Greg Renoe Promoted to Market Manager for Cumulus Columbia/Jefferson City. The company promotes Greg Renoe from his general sales manager position with the Columbia and Jefferson City, Missouri clusters to vice president and market manager. The station groups consist of news/talk KFRU, Columbia and news/talk KLIK, Jefferson City plus five music brands. Cumulus Media SVP of operations Mark Sullivan says, “Greg’s long-standing relationships with our staff, key advertisers, and civic leaders, together with his deep knowledge of the market and effectiveness as a leader, have earned him this promotion. I look forward to his continued success with our organization in Middle Missouri.” Renoe adds, “I’m excited to have the opportunity to lead the Cumulus team here in Middle Missouri. I’m looking forward to the challenges ahead and sharing in many successes with my co-workers. There is no end to what we can accomplish together with our collective vision for these incredible assets.”

iHeartMedia Names Doug Hall Digital PD for LA and SF. Digital media pro Doug Hall is named regional digital program director for iHeartMedia’s Los Angeles and San Francisco clusters. Hall has been serving with the national iHeartRadio team as a senior digital director out of the Nashville headquarters. In this new role, Hall will be responsible for the strategy, audience growth, and maximizing iHeartMedia’s digital platforms in these markets. Hall will report to John Peake, SVP of programming for iHeartMedia Los Angeles. Peake says, “Our iconic Los Angeles audio brands and on-air talent are the engines that are driving unprecedented digital growth. I’ve watched Doug grow and evolve from his time in promotions to leading winning teams in San Francisco, Miami and Nashville. We are fortunate to have him leading our LA digital efforts and rejoining the team in San Francisco.” Hall comments, “I’m excited for this full circle moment, coming back to Los Angeles, where it all started. I can’t wait to dive in and help both our Los Angeles and San Francisco markets continue to grow and innovate in the digital space.”

Megan Marcus Returns to Paramount as VP of Podcast Editorial. Producer and journalist Megan Marcus is named vice president of podcast editorial at Paramount where she will oversee content for CBS News’ slate of podcasts. In this new role, Marcus will oversee the full creative slate for CBS News podcasts in addition to working on editorial across all Paramount global podcasts. This marks a return to CBS News for Marcus, who produced the first two seasons of Mo Rocca’s award-winning podcast “MOBITUARIES” and also worked closely with the CBS News team. Paramount EVP of podcasting and audio Steve Raizes says, “Megan is a dynamic producer and leader in the podcasting field. She did an incredible job guiding ‘MOBITUARIES’ to the top of the podcast charts and is already at work on our current and future slate of CBS News Audio properties.”

Broadcasters Foundation of America Launches Year-End Giving Campaign. The Broadcasters Foundation of America is launching its annual year-end giving campaign. The appeal asks for tax-deductible donations to provide financial assistance to people in broadcasting whose lives have been shattered by debilitating illness, accident, or catastrophe. BFoA president Tim McCarthy says, “Our grantees are your colleagues. They are hard-working men and women who through no fault of their own need our help. Requests for aid continue to increase every year. We cannot turn our backs on those in our industry who need our help.” This year, the Broadcasters Foundation will award close to $2 million in monthly and one-time emergency grants. Since 2017, monthly grants have increased 70% and more than 600 emergency grants have been awarded. Over the past 20 years, the Broadcasters Foundation has distributed more than $15 million to broadcasters in need. Broadcasters Foundation board of directors chairman Scott Herman adds, “Disaster often strikes without notice and extreme circumstances can deplete a life’s savings quickly. We need everyone in radio and TV to spread the word about the Foundation’s charitable mission across their station and company, in case they or someone they know needs our help.” More information, including how to make a personal or corporate donation or apply for aid is available at www.broadcastersfoundation.org, and by contacting the Foundation at 212-373-8250 or info@thebfoa.org.</p

Midterm Elections/Trump in 2024, The Economy, Russia-Ukraine War, Elon Musk & Twitter, Daylight Saving Time Controversy, Astros Win World Series, and Powerball Jackpot Among Top News/Talk Stories Over the Weekend. Tuesday’s midterm elections and the battle for control of the House and Senate, combined with expectations that Donald Trump will announce his bid for the 2024 Republican nomination shortly; inflation and concerns about a recession; Russia’s targeting of Ukraine’s infrastructure as the war grinds on; Elon Musk’s mercurial leadership tactics as owner of Twitter; the debate over Daylight Saving Time and whether to make it permanent in the U.S.; the Houston Astros beat the Philadelphia Phillies in the World Series; and the now $1.9 billion Powerball jackpot were some of the most-talked-about stories on news/talk radio over the weekend, according to ongoing research from TALKERS magazine.

Front Page News Industry News

Wednesday, September 14, 2022

WIBC-FM, Indianapolis Personality Rob Kendall Sues Political Activist for Defamation. WIBC-FM, Indianapolis late morning personality Rob Kendall is suing conservative political activist Gabriel Whitley, Spencer McDaniel, and Young Conservatives of Southern Indiana for defamation after the group posted comments on Facebook in which they refer to Kendall as “Pedo Rob,” implying that he’s a pedophile. The Evansville Courier & Press reports the story, noting that Whitley is a declared candidate for mayor of Evansville. Kendall co-hosts the late morning program on Radio One’s WIBC-FM with Casey Daniels. Kendall is being represented by fellow WIBC personality Abdul Hakim-Shabazz. McDaniel says the Facebook page is a satire page and as such is protected speech. He says, “Gabriel Whitley had no part in this, I run the page but it was a joke and I take full responsibility for the joke. We will win and all charges will be dropped.” The suit states, “The satiric effect emerges only as the reader concludes by the very outrageousness of the words that the whole thing is a put-on.” Hakim-Shabazz says that “the context of the post does not allow a reasonable reader to think the defendant’s words were a ‘put on.’” Kendall is seeking $50,000 in damages, punitive damages as the court deems proper,  attorney fees and court costs, and other relief the court deems proper.

Comrex Unveils New Remote Contribution Solution. The new cloud service for remote, on-air or production contribution from Comrex is called Gagl, and it allows between one and five users to send and receive audio from computers and smartphones. Each user receives their own mix-minus to hear other connected guests, and the Gagl audio is delivered to a Comrex hardware codec (such as ACCESS or BRIC-Link, usually in a studio). All participants can hear other participants and the codec “sends” audio back to them. Comrex says that participants can connect and send audio by simply clicking a link using any common web browser. Gagl is designed to be used with consumer grade equipment, so contributors only need a device and a headset to get on the air. Gagl uses the Opus audio encoder, with a bit rate that delivers both voice and music in excellent quality. Gagl also delivers audio directly to a Comrex codec with all the stability enhancements, pro-grade audio connections, and features that hardware codecs provide. The simple user interface makes it easy for users with any level of technical experience to use. Comrex adds that Gagl could be used as the hub for a news program or for a morning radio show to support multiple simultaneous contributor connections. Because it offers low latency, it’s appropriate for call-in talk radio. Gagl could also be used to allow a single contributor to connect back to the studio from a computer or smartphone. Gagl works with Comrex hardware IP audio codecs including the AES67-compatible ACCESS NX Rack IP audio codec and ACCESS MultiRack multi-channel IP audio codec as well as the BRIC-Link series. Find out more about Gagl here.

Edison Research: Spotify Takes Over as Top U.S. Podcast Network. The latest Q2 2022 data from Edison Research’s ranking of the Top Podcast Networks in the U.S. reveals that Spotify, SXM Media, and iHeartRadio take the top three spots, respectively. Spotify surpassed SXM Media’s weekly reach by a tiny margin. Edison’s ranking is based on surveys of 8,000 podcast listeners in the U.S. and measures reach as a percentage of the weekly podcasting audience. Rankings are compiled by measuring the total unduplicated reach of all the shows represented by a given network. See the complete list of the top 30 podcast networks here.

Podtrac: iHeartRadio Top Podcast Publisher for August 2022. The ranking of top podcast publishers from Podtrac has been released for August and, based on Unique Monthly Audience, iHeartRadio is ranked #1 with more than 35.5 million UMA for its 689 active shows. Wondery is ranked #2 (24.5 million UMA) for 204 shows, and NPR comes in at #3 (19.7 million UMA) for 49 shows. See Podtrac’s entire chart of the top 20 podcast publishers for August 2022 here.

Brian Kilmeade in Albany. Pictured above is FOX News Channel and FOX News Radio star Brian Kilmeade (center) on stage at The Egg Performing Arts Center in Albany on September 8. With him is FOX News Channel producer Alyson Mansfield (left) and news/talk WGDJ, Albany owner Paul Vandenburgh (right). Kilmeade’s radio program is heard from 10:00 am to 12:00 noon on WGDJ.

KFAN’s Dan Barreiro to Be Enshrined in Hall of Fame. Longtime Twin Cities sports talk personality Dan Barreiro – host of “Bumper to Bumper with Dan Barreiro” and “Sunday Sermons with Dan Barreiro” – is being honored this Saturday (9/17) at the Minnesota Broadcasting Hall of Fame Induction Ceremony. Barreiro was a sports columnist at the Star Tribune for 17 years. He joined iHeartMedia’s KFXN-FM, Minneapolis “KFAN 100.3” in 1992. iHeartMedia Minneapolis market president Greg Alexander says, “Dan epitomizes the make-up of a tremendous talk show in the Twin Cities. He puts together compelling interviews and has the ability to break down any and every topic to entertain our listeners. He is a true talent.” Market SVP of programming Gregg Swedberg adds, “There isn’t a radio personality who has had the kind of ratings success over the last three decades that Dan Barreiro has. He has done it by hosting intelligent, entertaining, and compelling radio. He’s more than the ‘Big Ticket,’ he is the blueprint.”

Audacy’s I’m Listening Mental Health Campaign to Produce Sixth Annual Special Program. The ongoing mental health public service campaign from Audacy includes the two-hour audio program, “I’m Listening,” once again co-hosted by Carson Daly and by Dr. Alfiee M. Breland-Noble. Each year, Audacy activates “I’m Listening” through national campaigns featuring artists, celebrities, and athletes who share their experiences with mental health. Partnering with the American Foundation for Suicide Prevention, these events help raise awareness and support of issues that we all face in our daily lives. Guests on this year’s program will include: Carrie Underwood, Ed Sheeran, Adele, Vice President Kamala Harris, Lizzo, Ricky Williams, Maren Morris, Charlie Puth and Stephen A. Smith, who will share personal mental health stories. The special airs nationwide on Wednesday, September 21 from 6:00 pm to 8:00 pm local time across more than 230 Audacy stations and will be live streamed via its digital app and website. Also, returning to the Hollywood Bowl for its ninth year, the star-studded concert “We Can Survive” takes place on Saturday, October 22 with featured acts including Alanis Morrisette, Garbage, Halsey, OneRepublic, Weezer and more.

Trumps vs DOJ, Inflation/Financial Markets/Railroad Strike, Lindell Search Warrant, Russia-Ukraine War, British Royalty, Musk-Twitter Case, and Ken Starr Dies Among Top News/Talk Stories Yesterday (9/13). Former President Donald Trump’s battle with the Department of Justice over its investigation into documents he kept at Mar-a-Lago; the still rising rate of inflation, Tuesday’s financial markets beating, and the looming railroad strike; MyPillow founder Mike Lindell has phone taken by FBI in warranted search; Ukraine’s retaking of territory from Russian forces; the royal family’s activities in the aftermath of Queen Elizabeth’s death; the court battle between Elon Musk and Twitter over his canceled acquisition bid; and former special prosecutor Ken Starr dies were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.