Front Page News Industry News

Tuesday, August 2, 2022

Townsquare Media Second Quarter Net Revenue Rises 13.6%. For the second quarter of 2022, Townsquare Media is reporting net revenue of $121.9 million, an increase of 13.6% over the same period in 2021. The company also reports net income of $4.9 million, a decrease of $5.2 million from Q2 of 2021. Townsquare’s financial data is broken in to three primary segments: Subscription Digital Marketing Solutions, Digital Advertising, and Broadcast Advertising. The Subscription Digital Marketing Solutions segment includes its subscription digital marketing solutions business, Townsquare Interactive. The Digital Advertising segment, marketed externally as Townsquare Ignite, includes digital advertising on the company’s owned and operated digital properties and its digital programmatic advertising platform. The Broadcast Advertising segment includes its local, regional, and national advertising products and solutions delivered via terrestrial radio broadcast, and other miscellaneous revenue that is associated with the broadcast advertising platform. The Subscription Digital Marketing Solutions segment’s net revenue rose 13.7%, the Digital Advertising segment’s net revenue was up 25.4%, and the Broadcast Advertising segment’s net revenue rose 1.0%. Company CEO Bill Wilson states, “I am proud to share that the Townsquare team delivered another quarter of strong revenue and profit growth, and in doing so, we achieved all-time record highs for both net revenue and Adjusted EBITDA. Our performance clearly demonstrates the strength and differentiation of our digital businesses and our legacy broadcast business. Townsquare’s second quarter net revenue increased year-over-year by 14%, exceeding our guidance range, and Adjusted EBITDA increased 7% year-over-year, meeting our guidance range. In addition, our digital revenue growth accelerated from the first quarter (Q1 +16% year-over-year), with second quarter total digital revenue increasing 21% year-over-year. Our strong top-line growth, margin profile, and cash generation characteristics have contributed to the reduction of our net leverage, now at a historical low of 4.65x as of June 30th, including the repurchase and retirement of $19 million of our Senior Secured Notes at or below par in Q2. We are also pleased to announce that we are raising our FY 2022 guidance following the close of the Cherry Creek acquisition on June 17th. Our updated full-year guidance reflects the ongoing momentum of our business and the strength of our performance to date, fueled by our differentiated digital platform. As a Digital First Local Media Company focused principally on markets outside of the Top 50 in the United States, we have a resilient digital growth engine supported by subscription digital marketing solutions, with a large addressable market and limited competition. As we move forward, we expect double-digit digital net revenue growth to continue at strong margins, reaching our digital revenue target of at least $275 million in 2024. With half of our total revenue and profit coming from digital today, it is our belief that over time as digital continues to meaningfully grow, Townsquare should and will be afforded a sum-of the-parts valuation that our digital assets deserve.”

70 Years of WGN-AM, Chicago Audio Archived at Northwestern University. As the result of a gift from WGN-AM, Chicago’s parent company Nexstar Media Group, a 70-year swath of the radio station’s audio archive now resides at Northwestern University Libraries in the Charles Deering McCormick Library of Special Collections and University Archives. The station says, “The archive, with materials covering 1941 to 2011, includes more than 15,000 items, primarily magnetic media (open reel tapes, compact cassettes, continuous-loop “carts,” U-matic videocassettes and VHS tapes) as well as other media such as grooved discs, CDs and minidiscs. The bulk of the audio dates to the 1980s and 1990s, a period of innovation and surging popularity for the station.” Scott Krafft is curator of special collections at Northwestern and he says that the archive contains thousands of hours of audio that will need to be cataloged and, where necessary, digitally preserved before they can be made publicly available. He adds, “It’s a remarkable collection that represents a significant sampling of Chicago history, including local and national news. In addition, the voices of WGN Radio’s most popular programs are represented here, making this an important archive for the history of the entire field of radio broadcasting.” WGN Radio VP and general manager Mary Sandberg Boyle comments, “Given the long and storied connection between WGN Radio and Northwestern University, it is most fitting that this audio collection, drawn out of 70 years of our broadcast history, will be under their care. While digitizing it will be a substantial undertaking for the Northwestern Libraries, ultimately, this will be a permanent and invaluable repository and resource for years to come. We trust their expertise and are proud they are the caretakers in this endeavor.”

Triton Digital Streaming Ranker for June 2022 Released. The monthly ranking of the top-performing streaming audio stations has been released for the month of June by Triton Digital. The ranking is based on Average Active Sessions which is calculated by dividing Total Listening Hours by the number of hours within the reported time period. In the period of 6AM-12AM Mon-Sun, iHeartRadio is far and away the #1 streamer again this month with 301,251 Average Active Sessions. Continuing in the #2 spot this month is NPR Member Stations (72,476 AAS), followed by Audacy at #3 (68,570 AAS), and Cumulus Streaming Network at #4 (41,562 AAS). Other streamers of note in the top 25 include Beasley Broadcasting Corporate at #7 (18,663 AAS), Hubbard Broadcasting at #8 (15,151 AAS), and Salem Communications at #11 (8,677 AAS). See the complete chart here.

TALKERS News Notes. Former WTMJ, Milwaukee air personality Jane Matenaer, who exited the station last month after six and a half years with the Good Karma Brands news/talk outlet, is staying with the company as producer and news reporter for sister progressive talk WAUK-AM/W266DR, Waukesha “The ‘Sha 101 FM” on the “As Goes Wisconsin” early afternoon program hosted by Kristen Brey…..Cumulus Media appoints Derek Falter VP/market manager for its Grand Rapids and Muskegon, Michigan markets that include sports talk WJRW-AM, Grand Rapids “The Ticket” and seven music-formatted stations. Falter, who was most recently regional VP for Curtis Media Group, comments, “I’m beyond excited about the opportunity the leadership team at Cumulus Media is giving me to work alongside the dynamic crews in Grand Rapids and Muskegon! Thanks to Mary Berner and Bob Walker for bringing me back to a part of the country that is so meaningful to my family.”

Al-Zawahiri Killed, Pelosi’s Asia Trip, Biden’s Climate/Health Bill, Manchin-Schumer Bill, Midterms/2024 Presidential Race, The Economy, January 6 Sentencing, Deadly Kentucky Floods/Western Wildfires Among Top News/Talk Stories Yesterday (8/1). 9/11 orchestrator Ayman al-Zawahiri is killed in drone strike in Kabul; House Speaker Nancy Pelosi’s expected visit to Taiwan and China’s threatening response; the fate of Joe Biden’s climate and health bill; the Joe Manchin and Chuck Schumer-authored Inflation Reduction Act; November’s midterm elections and speculation about the nominees in the 2024 presidential race; the still-high price of gasoline and food and concerns about a recession; Guy Reffit is sentenced to seven years in prison for his part in the January 6 Capitol attack; the deadly Kentucky floods and threats of more rain to the region plus the ongoing wildfires in Northern California 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

Wednesday, June 22, 2022

Political and Cultural Polarization Addressed at TALKERS 2022. At the recent TALKERS 2022 convention held on June 10 at Hofstra University on Long Island, five talk radio hosts representing various political perspectives participated in the panel discussion “Maintaining Integrity in Times of Political and Cultural Polarization.” The panel was moderated by WPHT, Philadelphia talk show host Dom Giordano (below), who was introduced by WINS, New York morning drive anchor Lee Harris.

 

WCHV, Charlottesville talk show host and program director Joe Thomas takes part in the “Maintaining Integrity in Times of Political and Cultural Polarization” panel.

 

KOA, Denver talk show host Mandy Connell speaks during her appearance on the “Maintaining Integrity in Times of Political and Cultural Polarization” panel.

 

WRVA, Richmond afternoon drive talk host Jeff Katz makes a point during his appearance on the “Maintaining Integrity in Times of Political and Cultural Polarization” panel.

 

GCN nationally syndicated talk show host Dr. Daliah Wachs during her appearance on the “Maintaining Integrity in Times of Political and Cultural Polarization” panel.

 

WICC, Bridgeport, Connecticut talk host and Connecticut probate judge Lisa Wexler speaks on the “Maintaining Integrity in Times of Political and Cultural Polarization” panel.

 

Complete TALKERS 2022 Session Videos Being Posted TALKERS magazine is posting complete videos of each session from the TALKERS 2022 convention held on Friday, June 10 at Hofstra University. The video of the “Morning Greetings” session has been posted. This session includes: TALKERS 2022 emcee and TALKERS VP/executive editor Kevin Casey; the National Anthem performed on saxophone by WOAI, San Antonio and Compass Media Networks nationally syndicated talk host Joe “Pags” Pagliarulo; the “Welcome to Long Island” speech by JVC Broadcasting president/CEO John Caracciolo; the “Morning Wakeup” from FOX News Radio host Jimmy Failla; “A Gathering of Friends and Colleagues” presentation from Premiere Networks and FOX News Channel star Sean Hannity; and “Talk Radio in the Post-Rush Era” from Premiere Networks talk host Buck Sexton. See the video here.

 

KOA, Denver Programmer Greg Foster Among Staffers Let Go by iHeartMedia. The staff reductions taking place at iHeartMedia hit the Denver cluster recently with program director Greg Foster among those getting their pink slips. In addition to Foster, Tim Spence – program director for KHOW, Denver and KCOL, Fort Collins – was also let go, as was talk host Mike Rosen and producer for Mandy Connell’s program, Dave Lauer. Foster tells TALKERS magazine, “As for me, I’m certainly grateful for my 22-years with iHeart/Clear Channel. It was a good run!”

 

Westwood One Blog Reveals Results of Online Sports Betting Study. The CUMULUS MEDIA | Westwood One Audio Active Group commissioned MARU/Matchbox to conduct a national brand awareness study of online sports betting brands and it surveyed 1,252 adults 21-plus in February. The study consisted of 483 respondents were from states that have legalized sports betting and 769 respondents were from states that have not. Some of the ley findings include: 1) The ideal target for online sports betting are adults 35-54 who are married, have kids, and work full time. Nearly half of those most interested in online sports betting are adults 35-54 (48%). Women are becoming more interested in online sports betting. The gender profile of those interested is more evenly distributed (men 54% vs. women 46%); 2) Based on media habits of online sports betting intenders, the optimal media allocation is 54% AM/FM radio and 48% TV. Compared to TV viewers, AM/FM radio listeners have far more experience with online sports betting, greater interest, greater awareness of, and greater engagement with online sports betting brands; 3) The audio sports betting media plan should contain a wide array of AM/FM radio programming formats and podcast genres. Those interested in online sports betting listen to a broad array of podcast genres and AM/FM radio programming formats beyond just Sports programming. Audio media plans that focus mostly on spoken word (news/talk and sports) will miss the majority of those who are engaged with online sports betting. Based on AM/FM radio programming format preferences among those interested in online sports betting, the ideal allocation is 20% of impressions to rock and then 10% each to the rest of the formats (classic rock, news/talk, sports, classic hits/oldies, country, Top 40, urban, and adult contemporary); and 4) Audio media plans should emphasize reach over frequency and increase weight to reach 60% of the market. Recent monthly AM/FM radio plans are only reaching 38% of the market. Brands should seek to reach at least 60% of the market each month.

 

AdLarge Names Brian Egan Director of Digital Content and Strategy. Joining AdLarge as director of digital content and strategy is Brian Egan, who most recently was creator and co-founder of Inlet TV, a digital multi-media live streaming platform focused on highly scalable HTTP live streaming technology. In his new role with AdLarge, Egan will “spearhead the expansion of strategic discovery methods to uncover new talent and content creators in order to develop authentic and re-imagined advertising opportunities for clients.” AdLarge co-CEO Cathy Csukas says, “Throughout his career, Brian has had the opportunity to work with some of the largest podcasters in the world and brings an impressive depth of experience and entrepreneurial vision to the company. With his leadership, we’re focused on finding new marketing and content opportunities and look forward to reaching new levels of success for our clients in 2022.” Egan comments, “I can’t express how excited I am to join this incredible team of industry-leading professionals. I’m looking forward to contributing to the inspired work they already do for their content partners, with an eye toward expanding their footprint in emerging markets and products. For anyone looking to connect on podcast content, technology, or to just make an introduction – my inbox is wide open!”

 

Townsquare Media Closes on Cherry Creek Acquisition. The deal for Townsquare Media to acquire 34 radio stations in nine markets from Cherry Creek has closed. Townsquare is paying $18.75 million for the stations in Butte, Great Falls, and Missoula, Montana; Montrose, Colorado; Sierra Vista, Arizona; St. George-Cedar City, Utah; Tri-Cities and Wenatchee, Washington; and Williston, North Dakota. Townsquare is divesting six radio stations in Missoula, Montana, to Anderson Broadcasting, Legacy Broadcasting (a non-profit organization), and Missoula Community Radio (also a non-profit organization), and is placing two radio stations in Tri-Cities, Washington in a divestiture trust. This transaction is being funded with cash on hand and Townsquare CFO Stuart Rosenstein states, “This acquisition represents a compelling use of capital that aligns with our priorities of investing in our local business through both organic investments and prudent acquisitions that support our revenue and profit growth. This acquisition is net leverage neutral and due to the strong cash generation of our business and the acquired assets, will not impact our ability to reach our goal of 4x net leverage by year end.” KALIL & CO., INC. was the exclusive broker for this transaction.

 

ESPN Cleveland Hosts Inaugural Block Party. To celebrate the beginning of summer and to show off their new studios, Good Karma Brands’ WKNR-AM “ESPN Cleveland” will host the inaugural Block Party, presented by MGM Northfield Park, tomorrow (6/23) from 9:00 am to 7:00 pm. Fans can hear their favorite ESPN Cleveland hosts broadcast live, on stage, throughout the day. In addition to live show broadcasts, a second stage will host live music from a variety of local bands, vendors will sell local food and beverages, fans can participate in games with prizes, and even “dunk” their favorite ESPN Cleveland talent in the dunk tank. In addition, Cleveland’s pro sports teams are taking part in the event and all proceeds from it will benefit Muttley Crue Rescue – which rescues, cares for, and re-homes neglected, abused and/or homeless dogs. ESPN Cleveland host Tony Rizzo states, “The block party is going to be great opportunity for fans, partners, and teammates to get together after a long two years. I know the highlight of the day will be Aaron Goldhammer in the dunk tank!”

 

FABULOUS OFFER: Epoch Times Extraordinary Freebie to TALKERS 2022 Attendees Temporarily Extended to All TALKERS Subscribers.  One of the most popular perks of the recent TALKERS 2022 conference held on Long Island (6/10) was a free lifetime digital subscription presented to all of the event’s attendees by The Epoch Times. The 20-plus year old international newspaper based here in the United States is a favorite of news/talk media hosts.  The rapidly growing publication is known for its independent reporting and devotion to upholding the First Amendment and American democracy.  Readers of TALKERS interested in receiving a lifetime digital subscription – no strings attached – can do so by clicking here.

 

New C. Crane Emergency Radio a Big Hit at TALKERS 2022The first 200 registrants to arrive at the recent TALKERS 2022 convention on June 10 were surprised and delighted to find a real prize individually handed to them by iconic radio manufacturer/distributor C. Crane for their conference goodie bag. Each attendee received an amazing CCRadio Solar radio unit – valued at $99.99 retail – and the result was raves all around. The CCRadio Solar is a small digital portable radio that is successful as an emergency radio but the form and format function invite its owner to use it daily. Placed in a sunny window it’s perfect for the morning news. Audio is a surprise; it’s accurate, pleasing and has two modes. A miser mode to conserve battery power in a true emergency and a high-power mode for an even better audio experience. Reception is good for the size. The almost brick-size depth and unique UV resistant rubber perimeter is concave on the bottom which makes it inherently stable. The flashlight is above average in brightness and color because of the selected high-quality LED. The hand crank folded (that’s right, it can be cranked for power) and inlaid on in the back is the only visible clue that it’s an emergency radio. The included lithium-ion battery can be recharged by wind-up, solar panel, your USB port, or optional AC power adapter (not included). When the lithium-ion battery is fully charged, the radio will run more than 50 hours or charge your phone from the approximately 50% level to 100% level. It can also be powered by three “AA” alkaline batteries (not included) for approximately 50 hours in low power mode or 35 hours in high power mode. C. Crane founder Bob Crane tells TALKERS, “I brought the first CCRadio Solar home and my wife absconded with it until our designer/illustrator had to beg to get it back for documentation. To get it back from him was also overly arduous. I have never seen a radio so coveted. It is about hand size and it stays charged in a sunny window with an oversize solar panel which means it may not need a power assist for years.” To learn more about this fabulous device and enjoy a TALKERS discount on C.Crane purchases, please click here.

 

Broadcasters Foundation of America Announces Radio Giving Day. The Broadcasters Foundation of America announces its first annual Radio Giving Day taking place on Wednesday, June 29 and calls it “a day to come together as one community with one common goal – to support radio professionals in need of financial assistance due to a critical illness, accident, or disaster.” In addition, the campaign aims to raise awareness of the charitable mission of the Broadcasters Foundation so that a radio professional in acute need can apply for aid. BFoA co-president Tim McCarthy says, “We need to make sure everyone working in radio stations across America is aware of what we do. It’s a tragedy to think that one of our colleagues in need might qualify for aid but doesn’t know about us. We’re asking everyone in radio to spread the word, especially if they know someone who we might be able to help.” The Broadcasters Foundation is encouraging radio groups and stations to implement employee donation drives in support of Radio Giving Day. Several media companies and radio station groups have already committed to helping the Radio Giving Day initiative, including Alpha Media Group, Audacy, Beasley Media Group, Connoisseur Media, Educational Media Foundation, Good Karma Brands, iHeartMedia, Independent Broadcasters Association, Premiere Networks, Salem Media Group, Skyview Satellite Network, Spanish Broadcasting System, and Townsquare Media.

 

TALKERS News Notes. A new program is launching on SportsMap Radio Network on Saturday, July 2, from 11:00 am to 12:00 noon ET. “The Game Before the Money” pairs football author, podcast host, and oral historian Jackson Michael with author and former NFL executive Upton Bell. Michael and Bell reveal stories that few fans have access to or even know exist. The weekly, hour-long program merges narratives from the NFL’s past with today’s headlines and compares yesteryear’s All-Americans with current college stars. GOW Media CEO David Gow states, “This is a highly entertaining and informative program. Jackson and Upton are both amazing storytellers. This is a wonderful addition to our network.”…..SiriusXM is recognizing the 50th anniversary of the passing of Title IX with special programming on SiriusXM’s Mad Dog Sports Radio channel and on the SXM App that highlights the impact the law had on the future of women’s sports. On June 23, 1972, the federal civil rights law (Title IX) was passed as part of the Education Amendments of 1972, prohibiting discrimination based on sex in any school or education program that receives funding from the federal government. The introduction of Title IX led to a considerable increase in the number of females participating in organized sports within American academic institutions and is considered to have been a significant step forward in the advancement of equality and equity for women and girls in sport. Tonight at 6:00 ET, SiriusXM’s Linda Cohn hosts “Title IX at 50,” which will examine the impact of Title IX on the world of sports, highlight significant moments that followed the passage of the law, and tell the stories of several groundbreaking women who have excelled in various sports.

 

The Economy, Primary Elections, Gun Legislation, SCOTUS Religious Education Ruling, January 6 Hearings, Russia-Ukraine War, Heatwave/Western Drought Among Top News/Talk Stories Yesterday (6/21). The high price of gas & food, President Joe Biden’s considering federal gas tax relief, the sinking financial markets, and concerns about a recession; Tuesday’s primary elections for November’s midterms and Donald Trump’s influence over the GOP; Senate negotiators reach a deal on bi-partisan gun legislation; the Supreme Court rules against Maine’s ban on taxpayer funding for religious schools; the continuing January 6 Committee’s hearings; Russia’s ongoing invasion of Ukraine and its impact on the global economy; and the intense heatwaves taking place in the U.S. and abroad and the drought affecting the Western U.S. were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.