WWO: Marketers Underestimate Sales Effect of Creative
This week’s Cumulus Media | Westwood One Audio Active Group blog post looks at the results of an ongoing study by Advertiser Perceptions that surveys brands and media agencies on the sale contribution of five advertising effectiveness factors: Brand, Creative, Reach, Recency, and Targeting.
Interestingly, marketers and media agencies massively underestimate the immense sales effect power of creative. NCSolutions says that creative drives half of sales, about two-and-a-half times what advertisers perceive. The Advertiser Perceptions February 2024 study reports brands and media agencies say creative only represents 19% of total sales effect. NCSolutions science reveals creative generates an eye-popping 49% of incremental sales. According to System1 chief customer officer Jon Evans, “Creative is the number one factor in explaining the performance of your advertising and yet most marketers still don’t realize it. That means that those who focus on getting the creative right have a huge competitive advantage. Firstly, marketers need to wake up to the importance of creative and secondly realize it isn’t some dark art but something you can measure and improve to give you an advantage over the competition who haven’t realized this yet.” Read the blog post here.
31). The company says it expects to report net revenue in a range of $199 million to $201 million – change of between 3.3% and 2.3%. It also expects to report a net loss in a range of $(14.9) million to $(13.4) million and Adjusted EBITDA in a range of $7.65 million to $9.15 million. The company will report its actual first quarter 2024 operating results on Friday, May 3. 
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. 
president and market manager Marv Nyren says, “WLS is bigger than a destination on your radio dial – it’s a Chicago institution and treasure. 100 years ago, radio was simply sound communication via radio waves but there’s nothing simple about the impact of WLS on Chicago. WLS has been a neighbor, a friend, and a mentor for people in Chicagoland. It’s been a place where people can go for entertainment and information – and it’s been a companion to the biggest moments in history. We are excited to usher in WLS-AM’s next 100 years with Chicago’s best audio content on-air, online, on-demand, and onsite.”
Time in its previously announced Exchange Offer and Consent Solicitation, in which it is offering to exchange any and all of its outstanding 6.750% Senior Secured First-Lien Notes due 2026 for new 8.750% Senior Secured First-Lien Notes due 2029, to April 16, 2024 at 5:00 pm New York City time. As of Friday (4/12), approximately $15 million aggregate principal amount of the Old Notes had been validly tendered pursuant to the Exchange Offer and Consent Solicitation and not withdrawn.
media budget, adding AM/FM radio to a digital/TV plan sharply builds reach. Via Nielsen Commspoint, the media allocation planning tool, a wide range of monthly digital/TV media plans were examined. Very small, light, medium, and heavy campaigns were examined. The lightest digital/TV campaign reached 10% of the market. The heaviest reached 60%. Then a 20% allocation of AM/FM radio was introduced. The results were stunning. Across the seven monthly campaigns, from the lightest to the heaviest, the addition of AM/FM radio generated significant lifts in reach. Shifting 20% of the lightest TV/digital campaign to AM/FM radio caused reach to double. Introducing the 20% allocation of AM/FM radio to medium-sized campaigns causes reach to soar by 36% to 55%. Even the heaviest TV and digital campaign saw reach grow 20% with the addition of AM/FM radio to the plan.” 
in community involvement, along with multiple merit awards. The annual MAB Broadcast Excellence Awards gala was held on Saturday, April 6 at the Sound Board inside MotorCity Casino Hotel in Detroit. WJR program director Ann Thomas states, “Thank you to everyone associated with the Michigan Association of Broadcasters for this tremendous honor. As you can imagine… because WJR is more than a hundred years old, the archives in the Golden Tower of the Fisher Building are amazing. While doing some spring cleaning the other day, I came across boxes of awards and plaques from non-profit organizations applauding our work and ‘thank you’ notes from community leaders and listeners. It reminded me that all of us here in this room stand on the shoulders of the broadcasting greats who came before us. They set the bar for excellence, and I am grateful that in 2024, the talent, producers, engineers, production, digital, and sales teams at WJR are still working to be the best in the business.”
previously announced Exchange Offer and Consent Solicitation in which Cumulus offered to exchange any and all of its outstanding 6.750% Senior Secured First-Lien Notes due 2026 (the “Old Notes”) for new 8.750% Senior Secured First-Lien Notes due 2029 (“New Notes”) to be issued by Cumulus. The company has further extended the expiration time from 5:00 pm, New York City time, on April 2, 2024, to 5:00 pm, New York City time, on April 9, 2024.
Podcasting deserves a larger role in media plans as opposed to “test and learn” experimental buys. 135 million Americans, 47% of persons 12+, are reached monthly. Among demographics such as persons 18-34, 18-49, and 25-54, monthly reach is in the low 60% range; 2) It is feasible to consider shifting TV budgets to podcasting given that podcast 18-34 reach performance is as big as TV; 3) The ratio of monthly audiences who also listen weekly is an excellent measure of podcast habituation. At present, 71% of the monthly female podcast audience also listen weekly. This is the strongest female podcast habituation in the last decade; and 4) Currently, podcasts only represent 1% of total national ad spend, per Guideline’s Standard Media Index reporting. At the dawn of cable TV, legendary BBDO media chief Arnie Semsky created the “5% solution,” which stipulated that brands devote 5% of media budgets to cable. 5% is enough of allocation to generate meaningful impact. Semsky was prescient. His brands hugely benefited from taking an early, bold, and strong position in a growing new medium, a lesson for the marketers of today when it comes to podcasts. 
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. 
Solicitation to exchange any and all of its outstanding 6.750% Senior Secured First-Lien Notes due 2026 for new 8.750% Senior Secured First-Lien Notes due 2029 to April 2, 2024. This offer will expire then unless extended or terminated. As of March 26, approximately $15 million aggregate principal amount of the Old Notes had been validly tendered pursuant to the Exchange Offer and Consent Solicitation and not withdrawn.
content, providing an accurate assessment of the audience’s attentiveness and engagement.” Some of the key findings include: 1) Despite lacking “sight, sound, and motion,” AM/FM radio programming was +13% more engaging than Mediaprobe’s norm for television in the U.S. For advertisers, this means the AM/FM radio context for their ads has greater engagement than the TV context; 2) Overall, AM/FM radio advertising’s Emotional Impact Score (EIS) outperformed TV advertising by +12%. These new findings validate the recently released Dentsu/Lumen study, which revealed audio ads outperform video for attention and brand recall; 3) AM/FM radio news was the most impactful genre, consistently measuring as a high-quality contextual environment for advertising (+14% greater than Mediaprobe TV News norms and +8% than total AM/FM radio); 4) Mediaprobe audio benchmarks reveal the sound contrast between AM/FM radio programming and the ads drives higher attention and brand recall. For example, ads with music and jingles perform very well in spoken word programming due to the contrast; and 5) Creative best practices: Use female voiceovers, jingles, and include five brand mentions. 
The fourth of four rounds of ratings data from Nielsen Audio’s February 2024 PPM survey has been released for 12 markets including Austin, Raleigh, Indianapolis, Milwaukee, Nashville, Providence, Norfolk, Jacksonville, West Palm Beach, Greensboro, Memphis, and Hartford. The survey covered February 1 – 28. Today, TALKERS magazine managing editor Mike Kinosian presents his Ratings Takeaways from this group of markets. In Austin, Waterloo Media’s news/talk KLBJ-AM drops six-tenths to finish with a 5.1 share (6+, weekly AQH share) but remains ranked #5, while Audacy’s news/talk KJCE-AM rises two-tenths for a 0.3 share and stays ranked #28. In Raleigh, iHeartMedia’s news/talk WTKK-FM rises half a share to finish with an 8.0 share that lifts it to the #3 rank, while Curtis Media’s news/talk WPTF loses two-tenths for a 0.8 share finish good for the #19 rank. In Nashville, Cumulus Media’s news/talk WWTN-FM tacks on three-tenths to wrap the survey with a 5.7 share and inches up to the #5 rank, while iHeartMedia’s news/talk WLAC is steady with a 2.1 share but moves up one spot to the #17 rank. 
news/talk/sports WXLM-AM, New London. The first match aired last Saturday (3/16) versus New Mexico United. An additional nine matches will air on the two stations. Cumulus regional vice president Holly Paras says, “I am delighted that our stations will enter into this new broadcasting partnership with Rhode Island FC and help to bring the Southern New England community the passion and drama of this new team and exciting sport.”
Sports,” on Monday (3/18). The program will cover the athletes, coaches, teams, and sports that have contributed to the explosive worldwide growth of women’s athletics in recent years. The rotating cast of female sports broadcasters includes Laura Okmin, Maggie Gray, Olivia Harlan Dekker, Amber Theoharis, and Amy Lawrence.
dramatically understate AM/FM radio’s shares; 2) AM/FM radio represents the dominant ad-supported audio platform with a 68% overall share and a massive 86% in-car share; 3) In a typical day in America, 95% of Americans never listen to ad-supported Spotify. 94% never listen to ad-supported Pandora; 4) Podcasts’ audience soars. At a 20% share of ad-supported audio, podcasts now represent one out of every five minutes of U.S. ad-supported audio; 5) Among registered voters, AM/FM radio leads in ad-supported audience share (68%) followed by podcasts (21%); 6) After a pandemic lull, the proportion of AM/FM radio listening occurring in-car roars back; and 7) Powered by podcasts, spoken word is on a tear: 40% of all time with ad-supported audio goes to spoken word, up from 27% pre-pandemic. 
other content he creates with the station’s partnership with A to Z Sports. Cumulus Nashville VP and market manager Allison Warren says, “In the heart of Middle Tennessee, where sports pulse through our veins, we proudly announce the contract extension for our dynamic midday host, Buck Reising. Our airwaves resonate with the thrill of victory, the agony of defeat, and the unwavering passion of fans. As the must-listen sports station, we’re more than a frequency; we’re the heartbeat of every game, every play, and every championship.” Reising comments, “I’m so grateful to ‘The Zone’ and Cumulus for believing in and investing in Lucas, Jackson, and me. We could not be happier to continue to do the show for such an incredibly supportive audience and the city that we love. We’re just getting started.”