Audacy First Quarter Net Revenue Rises 1%
Audacy reports Q1 2024 net revenue of $261.8 million, an increase of 1% over the first quarter of 2023. The company reports a net loss of $1.85 million, a marked decline from the net loss of $35.9 million it reported in Q1 of 2023. While local and national spot revenue fell 3.5% to $153.5 million, digital revenue was up 10.2% to $62.7 million and network revenue rose 10.4% to $21.9 million. Audacy also reports
revenue for its stations by general format and the company’s sports revenue was $56.6 million – an increase of 6.5% – while its news/talk revenue fell 5.5% to $40 million. Audacy chairman, president and CEO David J. Field comments, “Audacy delivered a solid start to 2024 with Q1 EBITDA increasing 173% vs the prior year. Second-quarter revenues are currently pacing up low-single 
digits, and we expect another quarter of substantial EBITDA growth, enhanced by our continuing work on expense reductions. Our improving results are predominantly attributable to a significant acceleration in digital revenue growth, continuing meaningful revenue share gains, and declining expenses as our transformational investments bear fruit. As previously announced, we received court approval of our consensual pre-packaged Plan of Reorganization, which will reduce our debt by 80%, and are now awaiting FCC approval to complete the process. I want to salute our team for their excellent work in driving financial and operating progress while simultaneously executing our reorganization plan, all without disruption to customers, listeners, partners, vendors or our staff.
determined that granting a limited waiver deferring its foreign ownership review to facilitate a licensee’s prompt emergence from bankruptcy is consistent with the Communications Act.” Further, Audacy says, “According to the MRC, Audacy is attempting to employ an ‘entirely new’ and ‘vague and undefined’ special warrant process’ to delay the Commission review of Audacy’s proposed foreign ownership until ‘sometime down the road’ when the company ‘may choose’ to file a petition for declaratory ruling seeking such review. This specious claim not only mischaracterizes the company’s waiver request detailed in the Application, but completely ignores longstanding precedent establishing the Commission-approved special warrant process used in a number of prior transactions to allow licensees to emerge from bankruptcy promptly, while affording the Commission sufficient opportunity to review foreign ownership issues post-emergence.” Separately, FCC Chairwoman Jessica Rosenworcel responded to Congressman Nicolas Langworthy (R-NY) and Congressman Chip Roy (R-TX), who both wrote to her implying that the Commission is not going through “its normal, statutorily required process” and voiced concern over Soros Fund Management’s acquisition of Audacy debt. Langworthy wrote that Audacy being “owned by a deeply partisan individual [George Soros], could have a fundamental impact on the nature of local radio and potentially silence political viewpoints.” Rosenworcel’s response indicates she believes the Commission is handling the matter appropriately, saying, “The Bureau staff will review the record and decide if the transfer is in the public interest pursuant to Section 310(d) of the Communications Act.”
Audio advantage.” The guide provides data to counter prevailing myths that marketers often believe. Some examples include: 1) the notion that “apps have all the audience” is not true as “ad-supported platforms are key to marketer’s winning and Audacy’s 200 million+ is miles above Spotify (48.6M) and Pandora (41.2M)”; 2) “young people don’t listen to audio” isn’t true as 96% of Gen Z listen to audio daily – with 44% being daily radio users; and 3) “I can’t measure audio” is also false because marketers can “track, measure and analyze 
the new magazine-style show, “The WORD on the Street,” on Saturdays from 12:00 noon to 1:00 pm. Audacy Greenville SVP and market manager Steve Sinicropi says, “I am thrilled to have Mike return to ‘News/Talk 98.9 WORD.’ Mike is part of the fabric of Greenville; he connects with our audience and will be a terrific advocate for our advertisers. Having Mike and Joey onboard will enhance our incredible lineup and offer listeners live, locally connected talent.” Gallagher comments, “To return to the same station where I started my radio career 35 years ago is mind-blowing. I’m excited to reconnect with Upstate audiences and advertisers on this powerhouse brand. Having my dear friend Joey play a significant role in the show is the icing on the cake. Everyone knows the Upstate is home to me. So, who says you can’t go home again?” Hudson adds, “I’m ecstatic to join the team at this heritage station. It’s especially gratifying to join my longtime friend and mentor Mike as he makes his triumphant return to the Upstate. As a lifelong resident of the area, I’m fortunate to continue serving the community I love as part of The Voice of the Carolinas. Thank you to Steve Sinicropi, Mark Hendrix and the 98.9 WORD family for welcoming me back to the airwaves.” As part of the changes, “Straight Talk with Bill Frady,” now airs from 12:00 pm to 3:00 pm.
resources, and encourage people to prioritize their mental well-being. “I’m Listening,” Audacy’s flagship program created on the belief that the power of talk saves lives, is continuously committed to delivering more mental health conversations, resources, and pathways to help over 200 million listeners. The company says, “We are trusted companions and loyal friends to our listeners. We know the power of talk saves lives. We meet people where they are and assure them it’s okay to not be okay. 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 (AFSP), these events help raise awareness and support of issues that we all face in our daily lives. This year’s broadcast will air on Wednesday, September 25 from 7:00 pm to 9:00 pm.” 
York market president Chris Oliviero says, “Boomer has become a true cornerstone in the long, storied history of WFAN. He was already the highest-rated morning show in the FAN record books, and now, with this new extension, he will add longest-running to his accolades. And most excitedly, we are certain the best is still yet to come as Boomer begins this new chapter in his career by making a longterm commitment to the FAN, along with a creative vision for elevating the brand together to new heights.” Esiason comments, “For the last 17 years, it has been an honor to be the voice that New York sports fans wake up to. I could not be more excited to continue delivering four hours of entertaining conversation at the most vibrant and storied sports radio station in the country, working alongside the morning crew. I would like to thank Audacy, Chris Oliviero, and, most importantly, our passionate listeners for the opportunity to continue on this incredible ride.”
KDKA-TV personality who became afternoon drive host at news/talk KDKA-AM, Pittsburgh in December of 2020. Colin Dunlap appears to be set to continue hosting the afternoon drive show solo. Audacy has stated that these staff cuts will amount to “less than 2%” of the company’s workforce.
Mike Kadlik is one former Audacy staffer who took to social media to announce that he’s now a free agent. He posted to X, “My time with @WEEI has come to an end due to company-wide reductions. Very tough to swallow right before the NFL Draft, but I’m looking forward to continuing covering the #Patriots in some way.” Though the total number of people being let go is not known, it’s expected that more former employees will use social media to let the industry know they are available. 
Soros, would become the largest shareholder in New Audacy and that Soros would “control these radio stations to advance their particular brand of activism.” Further, MRC objects saying that the FCC has an obligation to complete a full and thorough review and that the Commission is being asked to approve the change in ownership without this review, specifically 
approach. Audacy SVP of sports monetization Lee Davis states, “We’re thrilled to bring together our unrivaled sports portfolio under Audacy Sports. Consolidating our cross-platform sellable assets under one name creates a compelling opportunity for brands to connect with listeners at scale – through our digital and broadcast network platforms or locally, through our owned sports stations – wherever and whenever they tune into Audacy content.” Audacy Sports is powered by the company’s 40 owned-and-operated all-sports stations and affiliates, 160 sports streaming channels on the Audacy app, a sports podcast network featuring over 600 titles and live events, 150 professional and collegiate teams – including play-by-play broadcasts, the Infinity Sports Network (formerly CBS Sports Radio) and BetQL Network.
sports talk outlet where he’s been an on-air personality for the past 31 years. Currently, Macnow hosts the Saturday and Sunday 10:00 am to 1:00 pm shows and the Eagles pre-game show. Macnow says his last weekend program (which he co-hosts with Mike Sielski) will be July 13. 
The second of four rounds of ratings data from Nielsen Audio’s March 2024 PPM survey has been released for 12 markets including Washington, Boston, Miami, Seattle, Detroit, Phoenix, Minneapolis, San Diego, Tampa, Denver, Baltimore, and St. Louis. The survey covered February 29 through March 27. Today, TALKERS magazine managing editor Mike Kinosian presents his Ratings Takeaways from this group of markets. In Washington, Cumulus Media news/talk WMAL-FM rises three-tenths to finish the survey with a 4.8 share (weekly, 6+ AQH share) that lifts it to the #5 rank, while Hubbard Broadcasting all-news WTOP-FM adds three-tenths for a 7.9 share and remains ranked #2. In Detroit, Cumulus Media news/talk WJR dips two-tenths to finish with a 2.3 share but remains ranked #14, while Audacy’s all-news WWJ is steady with a 5.3 share that keeps it ranked #9 in the market. In Phoenix, iHeartMedia news/talk KFYI falls half a share to a 3.0 share and moves back one spot to the #10 rank, while Bonneville news/talk KTAR-FM also loses a half share, finishing with a 2.2 share good for the #18 rank. 
Grey, Eugene DePasquale, Joe Kahn, Jared Solomon and Jack Stollsteimer will face each other live on April 17 from 8:00 am to 9:00 am during KYW Newsradio’s “Philadelphia’s Morning News with Ian Bush & Carol MacKenzie.” All candidates will be on stage in the KYW Newsradio studio space, except DePasquale, who will join remotely via Zoom. KYW brand manager Kristina Koppeser says, “We’re proud that KYW Newsradio continues to be the place for comprehensive coverage of Pennsylvania politics, especially in such a crucial election year. Giving voters details on candidates and their platforms is a vital part of our mission
synthetic voice capabilities, this partnership will create a robust library of voices for Audacy to deliver custom experiences for listeners and advertising clients. Audacy will infuse creator-led ideas and concepts with ElevenLabs’ technology to further bolster its programmers’ and talents’ unique ability to engage deeply with audiences at scale.” Audacy EVP and head of programming Jeff Sottolano says, “By experimenting with ElevenLabs’ synthetic voice capabilities, we’re transforming how we connect with our listeners and create value for our advertising partners. By streamlining workflows, this collaboration will empower creators with more bandwidth to focus on the exceptional content and listening experiences our audiences love and expect from Audacy.”
7:00 pm. KNX says, “In her first broadcast town hall as mayor of Los Angeles, Karen Bass takes the stage at KNX News to take questions from Angelenos on a broad range of public safety-related topics the day after her State of the City address. As the City searches for a new chief to shape the future of the LAPD, Mayor Bass will hear from constituents about what they want that future to look like.” The show is being aired on KNX News 97.1 FM, the Audacy app, and streamed live on YouTube.
beginning Monday (4/15). Fifer says, “I’m super excited to be hosting ‘Wisconsin Sports Daily,’ and I can’t wait to talk about our favorite sports teams with our loyal listeners. The opportunity to host great guests to add to our conversations is a plus. Let’s bring some passion back into sports talk radio in Milwaukee!” Fifer serves as assistant program director and on-air host at 1250 AM The Fan. He also hosts a Milwaukee Bucks postgame show and numerous podcasts, including “Curd & Long,” “Green and Growing” and “Spare/Time Bowling Show.” He also helps run Audacy’s BetQL Network in other markets.
CEO/president, Gray Television; Mary Menna, vice president & market manager, Beasley Media Group; and Carlson Mozdiez, vice president, digital business operations, Audacy; alongside moderator Sarah Foss, chief technology officer, Audacy, will engage in a candid conversation exploring the evolving landscape of sports business and the significant role women play in shaping its future. The panel will dive deep into the emergence of multiplatform sports coverage and how it has reshaped the business landscape of the sports industry, and how media professionals have leveraged multiplatform sports to enhance audience engagement and reach a diverse set of viewers. 
Spacciapolli states, “I first want to congratulate Dave on an incredible career. It has been a privilege to work with him over the past two years. We’re delighted to promote PJ, a mainstay at KDKA for the last 35 years. The trust he has built within our organization and with listeners and partners makes him a great fit to steward this iconic brand into the future as we grow on many levels.” Kumanchik, who has worked in multiple capacities at both KDKA News Radio and “93.7 The Fan” (KDKA-FM) as news producer and editor, morning show producer, sports producer and program director, comments, “I look forward to working with our leadership team, including Michael, to boost the momentum we have created at KDKA News Radio in the past couple of years. As the Voice of Pittsburgh, we will continue to provide news-driven talk that encourages interactions from our listeners.”
consumer behavior and technology adoption across smart platforms. Marketers and media buyers turn to these insights for important media trends in key channels such as radio, streaming audio, podcasts, social media, and more. Audacy will host a webinar on April 3 with head of research & insights Idil Cakim and Edison Research president Larry Rosin, who will share key trends from The Infinite Dial 2024, including: Media consumption and device adoption, in-car listening habits, podcast trends among key demographic groups, and observations and advertiser insights. 
population has listened to a podcast in the last month, up 12% year over year; 34% of the U.S. 12+ population has listened to a podcast in the last week, up 10% year over year. Despite changes in how downloads are being delivered and counted, listening levels are up markedly; 2) Growth in podcast reach is driven by large increases among the number of female listeners: 45% of women in the U.S. age 12+ have listened to a podcast in the last month, up from 39% in 2023, an increase of 15%; 32% of women in the U.S. age 12+ have listened to a podcast in the last week, up from 27% in 2023, an increase of 19%; 3) Online audio listening hits the highest mark ever: 76% of those in the U.S. age 12+ have listened to online audio in the last month, an estimated 218 million people, 90% of those age 12-34 and 85% of those age 35-54 have listened to online audio in the last month; 4) 70% of those age 18+ who have driven or ridden in a car in the last month currently ever listen to radio as an audio source in their primary car; 55% listen to online audio and 32% listen to podcasts; and 5) 60% of those age 12+ have a traditional AM/FM radio set in their home.