Tag: Alfred C. Liggins III

Industry News

Urban One Q2 Revenue Declines 9.2%

By TALKERS | by TALKERS

Second quarter 2024 net revenue for Urban One Inc. was $117.7 million, a decrease of 9.2% from Q2 of 2023. Breaking down Urban One’s report by segment, the Radio Advertising segment brought in revenue of $45.4 million, basically flat from one year ago. Digital Advertising revenue for Q2 of 2024 was $15.5 million, a decrease of 17.6%. The biggest change for Urban One was Cable Television Advertising, which brought inim $22.2 million, a decline of 26.7% from the same period in 2023. Urban One CEO and president Alfred C. Liggins III states, “On a same station basis our radio division finished Q2 -5.6% excluding political, and -3.0% with political. We saw a sequential improvement in national revenues vs. Q1, which was offset by weaker local revenues. Q3 core radio revenue is currently pacing down 6.9% on a same station basis, down 5.1% including political, and up 7.0% overall. We are starting to see a significant uptick in political advertising revenues, and remain optimistic for the remainder of the year, which should benefit both our radio and digital divisions. Our Cable TV business continues to suffer from subscriber churn and audience delivery shortfall, impacting both advertising and affiliate revenues, although we are seeing a bounce-back in ratings and delivery in Q3. Our digital business experienced weaker advertising demand than prior year but remains well positioned for the second half of the year, particularly with political and CTV advertising. During Q2 we repurchased an additional $35.5 million of our 2028 notes at 78.0%, and we ended the quarter with approximately $132.4 million of cash.”

Industry News

Urban One Releases Q4 2023 and Q1 2024 Financial Reports

By TALKERS | by TALKERS

Urban One files its reports for the year ended December 31, 2023 and for the three months ended March 31, 2024 with the Securities and Exchange Commission after a lengthy delay due to previously reported issues with its accounting practices. For the full year of 2023, Urban One reports net revenue of approximately $477.7 million, a decrease of 1.4% from the full year of 2022. Broadcast and digital operating income was approximately $168.4 million, a decrease of 16.5% from the same period in 2022. Net income wasim approximately $2.1 million compared to net income of $34.3 million for 2022. For the first quarter of 2024, net revenue was approximately $104.4 million, a decrease of 5% from the same period in 2023. Broadcast and digital operating income was approximately $32 million, a decrease of 18.5% from the same period in 2023. Net income was approximately $7.5 million compared to a loss of $2.9 million for the same period in 2023. Urban One CEO and president Alfred C. Liggins, III states, “Our Adjusted EBITDA for FY23 came in just above the high-end of our previous guidance at $128.4 million. As expected, we suffered a drop in radio division broadcast cash flow as a result of reduced political advertising compared to Q4 2022. Other divisions performed broadly in line with expectations, although the continuing churn in cable television subscribers remains an industry-wide concern. For Q1 our national radio revenues were hit by tough comparatives on a handful of large clients plus a general softness in the market. Second quarter radio pacing’s are sequentially better, with same station core revenues down mid-single-digits and low-single digits including political… We are optimistic about political advertising revenues for the remainder of the year, which should benefit both our radio and digital divisions. During Q1 we repurchased $75 million of our 2028 notes at 88.3%, and we ended the quarter with approximately $155.7 million of cash.”

Industry News

Urban One Rebrands Digital Platform

By TALKERS | by TALKERS

The company announces the relaunch of iONE Digital, formerly known as Interactive One. Urban One says, “iOne Digital’s dynamic portfolio of media brands deliver entertaining, engaging, culturally and socially aware original content from a fresh perspective connecting with over 24 million unique monthly visitors. This year, Urban One has rallied around the relaunch of the iONE Digital brand to integrate and maximize synergies across the digital portfolio fully. The relaunch brings a fresh perspective and bold storytelling serving the needs of a diverse audience while continuing to illuminate Black voices.” Chief executive officer Alfred C. Liggins III says, “For over 42 years, Urban One has understood the need for Diversity, Equity, and Inclusion, especially in sharing our varied experiences. We are proud to be a leader with the largest African American footprint in the media space. As the needs and concerns constantly evolve, we are dedicated to helping brands understand, connect, and best translate to Black and Brown communities. In our next iteration, iONE Digital will continue to be a catalytic force in media.” The company says, “iOne Digital portfolio focuses on key passion points and interests, including men’s and women’s lifestyle, sports, beauty, fashion, and entertainment. The iONE portfolio is comprised of Cassius, HelloBeautiful, MadameNoire, Bossip, NewsOne, GlobalGrind, HipHopWired, BlackAmericaWeb and Elev8; plus the social network for urban millennials, BlackPlanet, and three YouTube brands – The Fumble, Hollyscoop, and Nerdwire… Looking to the future, iONE Digital has also immersed their visual identity into the world of audio and podcasting by conceptualizing a ‘video first’ approach centered around the amplification of the all-new Urban One Podcast Network – a platform which iONE helps to fuel by bringing a wide range of podcasts to life.”

Front Page News Industry News

Thursday, November 3, 2022

By Editor | by Editor

Urban One Net Revenue Up 8.9% in Q3 of 2022. The company issues its third quarter 2022 financial data and reports net revenue of approximately $121.4 million, an increase of 8.9% from the same period in 2021. Urban One reports net income of approximately $4.2 million compared to the net income of $13.9 million it reported in the third quarter of 2021. The company says broadcast and digital operating income was approximately $50.8 million, an increase of 3.5% over the same period in 2021. Urban One CEO and president Alfred C. Liggins, III says, “Q3 was another very solid quarter, during which we grew both revenues and Adjusted EBITDA. Following a soft July for radio advertising, August and September rebounded and we finished the quarter +1.4% on a same station basis, and -1.3% excluding political. Same station radio pacings for Q4 excluding digital are currently +16.0% including political and +0.1% excluding political. Layering in the recent Indianapolis acquisition should push radio revenues to a double-digit percentage increase for Q4. Political spending has steadily gathered momentum, and we anticipate net political advertising revenues to be between $12-$13 million, of which radio is $9-$10 million, which is significantly ahead of both our budget and the 2018 cycle. Our cable TV business had another successful broadcast upfront season, and we were able to increase both our CPM’s and total dollars committed. Our Digital segment posted growth of approximately 40% in both revenue and Adjusted EBITDA as demand for our audience and digital products remained strong. Our liquidity and leverage profile remained robust, and we continued to opportunistically repurchase our 7.375% bonds in the open market.”

Saga Communications’ Third Quarter 2022 Net Revenue Rises 3.9%. Third quarter 2022 financial results for Saga Communications, Inc. reveal net revenue of $30 million – and increase of 3.9% over the same period in 2021. Station operating expense increased 2.8% for the quarter to $22.3 million compared to the same period last year. For Q3 of this year, station operating income increased 4.1% to $8.9 million, and operating income was $1.1 million compared to $4.6 million for the same quarter last year. Free cash flow was $1.6 million for the quarter compared to $4.0 million for the same period last year. Saga reports a net loss of $104,000 for the quarter compared to net income of $3.5 million for the third quarter last year. The company says, “Despite strong underlying performance the results were impacted by one-time payments related to the passing of our founder Ed Christian. As a result, the company is required to make several payments to his estate as outlined in his employment agreement. These expenses were accrued as of September 30, 2022 increasing the reported corporate general and administrative expense line item by $3.8 million for both the quarter and nine-month period ended September 30, 2022. Without these expenses operating income would have increased 5.8% to $4.9 million, free cash flow would have increased 36.5% to $5.4 million and net income would have increased 7.9% to $3.7 million.” Saga’s balance sheet reflects $58.3 million in cash and short-term investments as of September 30, 2022 and $45.3 million as of October 31, 2022.

Round Three of October PPMs Released. The third of four rounds of ratings data from Nielsen Audio’s October 2022 PPM survey has been released for 12 markets including Portland, Charlotte, San Antonio Sacramento, Pittsburgh, Salt Lake City, Las Vegas, Orlando, Cincinnati, Cleveland, Kansas City, and Columbus. Nielsen’s October 2022 sweep covered September 15 – October 12. Today, TALKERS magazine managing editor Mike Kinosian presents his Ratings Takeaways from this group of markets. In Portland, Alpha Media’s news/talk KXL-FM drops 1.1 shares to finish with a 7.3 share (6+, weekly AQH share) but remains ranked #4 in the market, while iHeartMedia’s crosstown news/talk KEX adds four-tenths to wrap the survey with a 3.9 share that lifts it to the #9 rank. iHeartMedia’s news/talk WOAI, San Antonio stays ranked #10 after dipping three-tenths for a 3.6 share, while Alpha Media’s crosstown news/talk KTSA sheds one-tenth for a 3.3 share finish and falls to the #12 rank in the market. In Salt Lake City, iHeartMedia’s news/talk KNRS-AM/FM puts up seven-tenths for a 12.3 share that cements its #1 rank as Bonneville’s crosstown news/talk KSL-AM/FM adds six-tenths for a 7.3 share finish that puts it in the #2 slot. You can see Mike Kinosian’s complete Ratings Takeaways from this group of markets (as well as the first two rounds) here.

Andrew Colton to Host Mornings on WIOD, Miami. Taking over for longtime South Florida broadcasting legend Jimmy Cefalo on January 9, 2023 as host of the morning program on iHeartMedia’s WIOD “NewsRadio 610 AM” is Andrew Colton. He comes to iHeartMedia from his most recent work as CEO of Colton Legal Media Worldwide. He’s also been an award-winning national correspondent for ABC News, CBS Newspath, and hosted the nationally syndicated “Wall Street Journal This Morning” program. Cefalo will continue to provide commentary on WIOD as well as his role as play-by-play announcer for the Miami Dolphins. “South Florida First News with Andrew Colton” will include veteran news anchor Nathalie Rodriguez, William Althoff with more news and sports, Doug Lindsay with traffic and the Weather Channel’s Ray Stagich. Vice president of news and AM programming Florida Region and iHeartMedia NTS brand coordinator Grace Blazer says, “Jimmy and Andrew both share a passion for news, information, commonsense, and our South Florida lifestyle. We are excited and fortunate to have Andrew Colton continue WIOD’s spoken-word tradition and digital expansion.”

Philadelphia Sports Radio Broadcasters Honored with Hall of Fame Inductions. Two Audacy Philadelphia sports radio personalities are being recognized for their contributions to the Philadelphia sports media landscape. Longtime WIP radio host Howard Eskin is being inducted into the Philadelphia Sports Hall of Fame on November 3. Eskin says, “It’s an honor to be selected and to be in such great company – really overwhelming. They say do what you love and you’ll never work a day in your life. As hard as I work, I have to admit, it is a labor of love.” Al Morganti, co-host of WIP’s morning show, is being honored by the Hockey Hall of Fame and will receive the Elmer Ferguson Memorial Award for excellence in hockey journalism. Morganti comments, “It’s the honor of a lifetime to be inducted in the Hockey Hall of Fame, and a huge part of any success I have had is because of the fans of Philadelphia. Having been on WIP for so many years and working at the Philadelphia Inquirer, I can attest that the emotional investment Philadelphia fans make to their teams makes everyone raise their game. Thank you!”

TALKERS News Notes. Legendary college basketball coach Mike Krzyzewski and SiriusXM ink a multi-year agreement for Krzyzewski to continue hosting his exclusive weekly SiriusXM show, “Basketball and Beyond with Coach K.” Krzyzewski has been hosting the show since 2005 and today (11/3) the first episode of the show’s 18th season drops. Krzyzewski says, “This will be the first fall in nearly 50 years that I’m not on the sidelines, and I’m so pleased to extend my long relationship with SiriusXM and continue hosting ‘Basketball and Beyond.’ Having the creative freedom to do a really unique show has been incredibly important and rewarding to me. I can be a part of the national conversation on basketball, while also exploring interesting topics with a variety of guests who make an impact far beyond the basketball court.”…..Red Apple Audio Networks announces it is signing 17 stations to its affiliate roster, including 11 Saga Communications stations. The newly added stations are carrying shows hosted by Larry Kudlow, Rudy Giuliani, and Judge Jeanine Pirro, as well as Frank Morano, host of “The Other Side of Midnight.”…..Compass Media Networks partners with Wisebuddah and its sister company imager – European providers of sonic branding, radio imaging and jingles. The London-based companies currently curate the sound of BBC Radio 1, BBC Radio 2, Bauer Media and Virgin Radio alongside dozens of radio stations (iHeartMedia, Alpha Media Group) in the United States.

Midterms/Trump in 2024, The Economy/Fed Rate Hike, Elon Musk’s Twitter, Russia-Ukraine War, and Pelosi Attack Aftermath Among Top News/Talk Stories Yesterday (11/2). The campaigning ahead of the November 8 midterm elections and expectations that former President Donald Trump will announce his 2024 presidential campaign shortly thereafter; the state of the U.S. economy and the Fed’s decision to hike interest rates again; the spate of celebs claiming they are leaving Twitter as a result of Elon Musk’s taking ownership of the social media platform; Russia’s war on Ukraine and its relationship with Iran, North Korea and China; and the conspiracy theories surrounding the attack on Paul Pelosi were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.

Front Page News Industry News

Thursday, May 5, 2022

By Editor | by Editor

Urban One First Quarter 2022 Net Revenue Rises 23%. Reporting financial data for the first quarter of 2022, Urban One, Inc. – parent of Radio One – says its net revenue was approximately $112.3 million, an increase of 23% from the same period in 2021. Broadcast and digital operating income was approximately $48.4 million, an increase of 33% from the same period in 2021. Net income was approximately $16.4 million or $0.32 per share (basic) compared to $7,000 or $0.00 per share (basic) for the same period in 2021. Urban One CEO and president Alfred C. Liggins, III, states, “We had extremely strong first quarter performance across the platform, with advertising revenues up double-digit percentages in all of our operating segments. Digital revenues were up 49.5%, cable TV advertising revenues were up 46.9%, and radio advertising, excluding political and digital, was up 17.4%. This enabled us to grow Adjusted EBITDA by 38.9% year-over-year, and by $14.3 million or 51.6% vs. Q1 2019. Looking back at pre-pandemic revenues, when we aggregate our radio broadcasting, syndication, events and digital operations, net revenues were up 11.5% compared to Q1 2019. Second quarter core radio advertising is pacing up mid-single digits, as we start to lap the tougher comps from 2021. Our balance sheet continues to strengthen, with $166.4 million of cash and net leverage down to 4.07x.”

 

Cumulus Announces $25 Million Stock Buyback. On the heels of yesterday’s first quarter financial report and the board’s authorization of a $50 million buyback program, Cumulus Media Inc. announces its intention to commence a “modified Dutch auction” tender offer to purchase up to $25 million of shares of its Class A common stock, or such lesser number of shares of its Class A common stock as are properly tendered and not properly withdrawn, at a price not greater than $16.50 and not less than $14.50 per share of Class A common stock, to the tendering shareholder in cash, less any applicable withholding taxes and without interest (the “Offer”). Cumulus president and CEO Mary G. Berner says, “Following yesterday’s announcement of the board’s authorization of a $50 million share buyback program, we are launching this tender as a first step in our capital return plan. This action is underpinned by our strong financial and operating momentum, our continued belief that the company is significantly undervalued and our desire to allow shareholders who seek it the ability to take advantage of the liquidity we can provide them. It is also our expectation that, even with this tender offer, we will be below our target of 3.5x net leverage by year end with significant continuing liquidity and financial flexibility for accretive M&A.” Cumulus will conduct the Offer by means of a procedure commonly called a “modified Dutch auction.” This procedure allows shareholders to select the price, within a price range specified by Cumulus, and the number of shares they are willing to sell at that price (or, should a higher price be determined as the “purchase price,” such higher price). The Offer is being made under Cumulus’s previously announced $50 million share repurchase program.

 

Saga Communications Net Revenue Increases 12% in Q1 of 2022. For the first three months of 2022, Saga Communications, Inc. net revenue increased 12% to $25 million compared to $22.3 million for the same period in 2021. Station operating income increased 17.8% to $5.6 million and operating income was $1.7 million compared to $883,000 for same period a year ago. Saga reports net income of $1.2 million compared to net income of $758 thousand for Q1 of 2021. The company paid a quarterly dividend of $0.16 per share on April 8, 2022. The aggregate amount of the quarterly dividend was approximately $970 thousand. Additionally, the company paid a quarterly dividend of $0.16 per share and a special dividend of $0.50 per share on January 14, 2022. To date Saga has paid over $78 million in dividends to shareholders since the first special dividend was paid in 2012. Saga Communications reports that it had $55.2 million in cash on hand as of March 31, 2022.

 

Russia-Ukraine War Correspondent Gregg Stebben is This Week’s Guest on Harrison Podcast. Veteran media editor/reporter Gregg Stebben is this week’s guest on the award-winning PodcastOne series, “The Michael Harrison Interview.” Stebben is a former longtime editor of Men’s Health magazine who served 20 years as its radio spokesperson. He is currently reporting on a volunteer basis back to the U.S. via the beamz.live platform from Poland and Ukraine where he has been interviewing refugees and local citizens in both adjacent nations in addition to doing whatever he can to provide comfort and support to the frightened, displaced people in conjunction with international humanitarian groups. Harrison caught up with Stebben on the Ukrainian side of the border on May 2. They discuss the human element of the crisis and the catastrophic impact and escalating deadly potential of the war. Harrison states, “Not only is the information being gathered by Stebben of great value, he is a shining example of independent talk radio reporting in action serving as a one-man field unit reporting on the war while supporting Ukraine as a volunteer. I find his effort truly inspirational.” To listen to the podcast in its entirety, please click here.

 

 

Premiere of 2,000 Mules Takes Place at Mar-a-Lago. The premiere of Dinesh D’Souza’s documentary film 2,000 Mules took place last night (5/4) at Mar-a-Lago in Palm Beach, Florida as former president Donald J. Trump presided over the event. The film was executive produced by Salem Media Group and a number of its current and former talk hosts appear in the documentary. Pictured above are (from l-r): D’Souza, Sebastian Gorka, Eric Metaxas, Trump, Larry Elder, Charlie Kirk, and Dennis Prager.

 

Triton Digital Streaming Metrics Ranker for March 2022 Released. The Streaming Metrics Ranker for the U.S. for March of this year has been released by Triton Digital. The ranker is based on Average Active Sessions and charts the top 25 performing digital audio publishers. For the daypart 6am-12am Mon-Sun, iHeartMedia leads the pack with 303,162 AAS. Some of the other radio-related companies appearing in the ranker include at #2 NPR Member Stations (81,035 AAS), #3 Audacy (69,281 AAS), #4 Cumulus Streaming Network (42,569 AAS), #7 Beasley Broadcasting Corporate (19,203 AAS), #8 Hubbard Broadcasting (15,233 AAS), #11 Salem Communications (9,591 AAS), #12 Urban One (8,577 AAS), and #13 Bonneville International 7,612 AAS). See the complete ranker here.

 

WCKG-AM, Chicago Owner Buying Time on WLS-AM to Reach Voters for U.S. Senate Campaign. Chicagoland radio station owner Matt Dubiel – whose company DuPage Radio LLC owns and operates talk outlet WCKG-AM, Elmhurst – is running for the U.S. Senate as a Republican and is taking an interesting tack in his campaign. He says in a press release that “in the spirit of former presidential candidate and businessman Ross Perot, Illinois businessman Matt Dubiel has purchased airtime on Cumulus Media news/talk WLS 890-AM.” He will host a two-hour show every Saturday afternoon from 3:00 pm to 5:00 pm until the primary election on June 28. Dubiel adds, “Nothing can replace the reach of radio. I’m consistently being shadow-banned on social media, corporate media refuses to cover my campaign, and the issues we need to discuss like CRT/SEL in schools, medical freedom, and other hot topics are virtually banned on social platforms that censor We the People, in America! The Illinois GOP even has me blocked on Twitter, and I’m running on their ticket! Hosting my own show on the radio home of Bongino, Shapiro, and Levin will allow Dubiel to speak directly to the people. The people in every county across Illinois need to know they have a guy who will actually represent them for a change. I am looking forward to talking to ALL Illinoisians about the issues that matter to them.” The 45-year-old Dubiel says he began his career in radio at 17, interning for the legendary Steve Dahl. He worked his way up through the radio ranks in Chicago, serving as a producer and talent, before transitioning into management.

 

Jeff Katz Show Honored by Virginia Governor Glenn Youngkin. Pictured above is WRVA, Richmond afternoon drive talk host Jeff Katz (right) with Virginia Governor Glenn Youngkin (left) as the governor recognizes the 6th anniversary of Katz’s “Lt. Jan McTernan Blue Friday Honors Program” that pays tribute to Central Virginia police officers by highlighting their positive contributions.

 

TALKERS News Notes. Radio pro Jon Zaghloul is being promoted to sports director at DuPage Radio LLC’s WCKG-AM, Elmhurst, Illinois. In this new role, Zaghloul will continue to host his weekend program “Sports Talk Chicago” on the station. He says, “I am honored to be a part of this exciting new challenge with WCKG. Over the past two years with the station, I’ve thoroughly enjoyed the chance to provide Chicagoans with hard-hitting sports opinions and insightful interviews. Now, it is time to expand our iconic brand, and I am actively on the hunt for both fresh, and established local sports talent to bolster our daily lineup.”…..Los Angeles Comic Con, partners with iHeartRadio to produce the podcast, “Comic Con Meta*Pod.” The show launched on Wednesday (5/4) with a “May the 4th Star Wars” special featuring “Mandalorian” actor Giancarlo Esposito, “Clone Wars” and “Bad Batch” composer Kevin Kiner, and more. The podcast is hosted by Hector Navarro and art/culture critic Joelle Monique…..Pictured below is “Florida Man Radio” afternoon drive host Shannon Burke (left) with former New York City police chief Bernard Kerik (right). Kerik appeared on Burke’s radio show on Wednesday (5/4) and the two discussed Kerik’s former police chief role in New York City, working with Donald Trump, the January 6 Committee, and more. “Florida Man Radio” is broadcast on WDYZ-AM/W288CJ, Orlando and WZLB-FM, Fort Walton Beach.

 

Roe v Wade Leak/Protests, Fed Raises Interest Rates/Economy, Midterm Primaries/Trump & the GOP, Russia-Ukraine War, January 6 Investigation, COVID-19, and Dave Chapelle Attack Among Top News/Talk Stories Yesterday (5/4). The leak of a draft Supreme Court ruling that would overturn Roe v Wade and the protests taking place around the country; the Fed raises interest rates a half percent and the effect of high gas and food prices; the primary elections for November’s midterm races and Donald Trump’s influence over the GOP; Russia’s ongoing invasion of Ukraine and its effects on Europe and the global economy; Donald Trump Jr. sits for testimony before the January 6 committee; concerns about new Omicron variants causing a summer wave of infections; and Dave Chapelle is attacked while on stage at the Hollywood Bowl were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.

Front Page News Industry News

Thursday, March 3, 2022

By Editor | by Editor

NAB Takes Stand on Russian-Sponsored Programming. As Russia’s invasion of the Ukraine continues, the National Association of Broadcasters issues a statement from NAB president and CEO Curtis LeGeyt. He says, “The National Association of Broadcasters is a fierce defender of the First Amendment and the critical importance of the ability to freely express views, both popular and unpopular. While the First Amendment protects freedom of speech, however, it does not prevent private actors from exercising sound, moral judgment. To that end, given the unprovoked aggression exhibited by Russia against the free and sovereign people of Ukraine, NAB calls on broadcasters to cease carrying any state-sponsored programming with ties to the Russian government or its agents. While we know that airings of such programs are extremely limited, we believe that our nation must stand fully united against misinformation and for freedom and democracy across the globe.”

 

FOX Audio Network and Spotify’s Megaphone Partner for Advertising & Distribution. A new partnership is announced between the new FOX Audio Network, which combines all of FOX’s news, sports, and entertainment podcasts into a scaled, diverse portfolio of original audio content, and Spotify’s Megaphone for advertising and distribution as the exclusive hosting platform for their growing slate. FOX Corp says, “The outsized reach of the FOX Audio Network’s 60-plus podcasts creates a unique opportunity for advertisers to access the broadest possible audience across all of the hottest FOX original audio content efficiently and effectively.” FOX News Media SVP, digital ad sales Dan Realson states, “The establishment of the FOX Audio Network provides unique opportunities for advertisers to reach a broad audience of our loyal podcast listeners across a diverse range of programming genres from our entire portfolio. Podcasts continue to be a popular and rapidly growing medium and we’re excited to collaborate with Spotify’s Megaphone to bring this opportunity directly to the advertising marketplace.” The press release goes on to say that FOX Audio Network advertising will be managed by the FOX ad sales team with additional inventory being sold through the Spotify Audience Network. Podcast publishing platform Megaphone will empower FOX Audio Network to monetize, measure, and grow FOX’s podcast content and audiences through best-in-class publishing and monetization tools.

 

Urban One 2021 Q4 Net Revenue Rises 15.3%. 2021 Fourth quarter financial data from Urban One, Inc. is being reported and the company says net revenue for the period was approximately $131.0 million, an increase of 15.3% from the same period in 2020. Broadcast and digital operating income was approximately $44.1 million, a decrease of 14.9% from the same period in 2020. For the full year of 2021, net revenue was $441.4 million, an increase of 17.3% over the full year of 2020. For 2021, Urban One posted consolidated net income of $40.7 million compared to the consolidated net loss of $6.5 million it reported for 2020. Urban One CEO and president Alfred C. Liggins, III comments, “We had another very strong quarter, with revenue exceeding expectations, allowing us to significantly exceed our previous Adjusted EBITDA guidance for the year of $140-$145 million. There was some noise in the expenses, predominantly related to returning events, TV programming amortization and annual staff bonuses, all of which were anticipated and factored into our guidance. Demand for our audience remains extremely robust across the platform, and, excluding political, advertising revenues for the quarter were up double-digit percentages in all of our operating segments. Digital revenues were up 42.9%, and we exceeded $50 million in annual digital revenue for the first time. Cable TV revenues were up 43.6% helped by strong upfront demand and higher average unit rates across both TV One and Cleo. Looking back at pre-pandemic revenues, when we aggregate our radio broadcasting, syndication, events and digital operations, net revenues were up 25% compared to Q4 2019, and Adjusted EBITDA up 21%. We expect to continue to exceed pre-pandemic revenues and Adjusted EBITDA in 2022, and this is supported by first quarter 2022 core radio pacings up low double digits, and up mid-teens including digital revenues.”

 

100 Points! Impossible! Yesterday, March 2, marked the 60th anniversary of Wilt Chamberlain’s legendary 100-point game against the New York Knicks on March 2, 1962. The game has taken on a mythical quality, with the details seemingly lost in the mists of time. Talk radio host and voice artist Mark Wainwright discovered that the actual backstory of the game – and how the precious final minutes of the radio broadcast were discovered and preserved – is a long saga and even more remarkable than the myth and legend. It was once thought that all evidence of one of the greatest individual performances in the history of sport was lost forever, and it almost was…except for one Philadelphia radio station and two alert listeners. Read Mark Wainwright’s complete feature story here. Photo: Paul Vathis/Associated Press

 

TALKERS News Notes. A new iHeartRadio original podcast debuts as “The Important Things with Bobbi Brown and Anjali Kumar” joins the company’s podcast network. The new program asks the age-old question: how can you lead a life of fulfillment? The ongoing pandemic has required us all to reexamine what matters most and prioritize what brings us true contentment. Through candid conversations with friends, thought leaders, creators and entrepreneurs, beauty industry titan Bobbi Brown and best-selling author and attorney Anjali Kumar explore the strengths, skills, habits, and mindsets that have helped their guests live their most authentic and gratifying lives. The inaugural episode will feature renowned activist Gloria Steinem, followed by upcoming guests such as designer Jennifer Fisher, soccer legends Ali Krieger and Ashlyn Harris, philanthropist Christy Turlington Burns and “Jeopardy” champion Amy Schneider…..SiriusXM is recognizing Women’s History Month across SiriusXM, Pandora, and Stitcher with special themed programming and limited-engagement channels. SiriusXM will ensure “She’s Got the Mic” by raising the voices of both prolific and up-and-coming female artists in honor of Women’s History Month. Four limited-engagement music channels will launch in March, spanning genres and representing artists from across the decades, including channels curated and presented by Avril Lavigne and Maren Morris, as well as a full channel dedicated to the iconic Tina Turner. There will also be a channel devoted to the defining, female-led festival tour of the 90s, Lilith Fair…..The Freakonomics Radio network is expanding on its growth with the hiring of a new editorial director, Gabriel Roth, alongside consultant Jared Hohlt. Before joining the Freakonomics Radio team, Roth worked at Slate for seven years, where he oversaw podcasts and helped launch the groundbreaking series “Slow Burn,” along with many other shows. Roth says, “I’ve been a fan of the Freakonomics Radio team’s work for more than a decade, and I’m thrilled to get the chance to work on their terrific podcasts and help grow the network.” Hohlt, Slate’s former editor-in-chief, has also begun helping Freakonomics Radio as a part-time consultant. Roth will oversee all existing and future shows in the network, with a special concentration on the flagship show, and Hohlt is focusing especially on two new podcasts, one in the early stages and the other in piloting mode, while helping with the existing shows as well.

 

Russian Ukraine Invasion, COVID-19, January 6 Investigation, State of the Union, The Economy/Inflation, Midterm Elections/Trump & the GOP, and MLB Negotiations Among Top News/Talk Stories Yesterday (3/2). Russia’s continuing invasion of the Ukraine and the West’s reaction; the White House issues its National COVID-19 Preparedness Plan as the next step in dealing with the pandemic; the January 6 House select committee alleges that former President Donald Trump and attorney John Eastman took part in a “criminal conspiracy” to overturn the 2020 election; reactions to President Joe Biden’s State of the Union address; the turmoil in the world’s financial markets and the soaring prices of consumer goods and gasoline; the battle for control of Congress in November’s midterm elections and Donald Trump’s influence over the GOP; and the stalled negotiations between the MLB’s owners and players that’s put the 2022 season in jeopardy were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.