TALKERS News Notes
UK radio and outdoor firm Global inks an exclusive platform distribution and ad sales deal with iHeartMedia in which Global and iHeartMedia will license, distribute and represent each other’s podcast portfolios.
The Philadelphia Eagles and Audacy announce a multi-year extension to their 30-year partnership through the 2028 NFL season. As part of the new agreement, “SportsRadio 94WIP” will continue to serve as the team’s official flagship radio partner. The broadcast team is led by Eagles Hall of Famers Merrill Reese and Mike Quick in the radio booth and longtime 94WIP personality Howard Eskin on the sideline.
iHeartMedia chairman and CEO Bob Pittman & president COO/CFO Rich Bressler will participate in a question and answer session during the Wells Fargo TMT Summit on November 29 at 3:45 pm ET. A live webcast of the session will be available to the general public at the start of the session through a link on the Investors homepage of iHeartMedia’s website.
PodcastOne acquires the exclusive sales and distribution rights, as well as certain ownership and IP/derivative rights, to true crime podcast, “Lost In Panama.” PodcastOne president and co-founder Kit Gray comments, “We continue our stated strategy of rolling up the fragmented podcast industry to deliver the best podcast library with the lowest cost per acquisition. We are excited and look forward to more announcements in the near future.”
Securities Exchange Commission. For the company as a whole, LiveOne reports Q3 Fiscal 2023 revenue of $27.3 million – a decrease of 17% from the same period in Fiscal 2022. However, the company has reduced its net loss for the quarter from $11.8 million in Fiscal 2022 to $3.2 million. Its Audio Division that includes PodcastOne and Slacker produced record revenue of $22 million in Q3 Fiscal 2023 compared to $19.1 million in the same period in the 
prior year. LiveOne’s CEO and chairman Robert Ellin comments, “Over the past year, we have been laser focused on optimizing and streamlining our operations, led by our audio business, which includes Slacker Radio and PodcastOne. The combination of improving Contribution Margins, coupled with over $30 million in annual expense and overhead reduction, is resulting in record operating results. We are excited about the continued strong growth of paid memberships coming largely through B-to-B partnerships, including our nine-year relationship with Tesla. We expect our strong operating performance to continue for the foreseeable future led by our Audio Division and for it to collectively achieve revenue in excess of $88 million in Fiscal 2023 and generate more than $18 million in Adjusted EBITDA.”