JFMN Releases Network Listening Report
Talk media entrepreneur John Fredericks – owner of the John Fredericks Media Network that’s comprised of more than a dozen signals in five states – reports that its combined monthly audience for June 2026 across radio, television, streaming, digital, and social media platforms achieved a 2.7-million-person audience reach. JFMN says the achievement reflects its expansion as an independent multimedia platform. John Fredericks states, “We built this network from the ground up without corporate owners, private 
equity, or Wall Street investors. We answer to one group: our audience. This milestone proves there’s tremendous demand for independent voices delivering news, politics, sports, and commentary people can trust. Truth and clarity are making a comeback.” Company CEO Anne Fredericks adds, “We strive to cover what matters most in people’s daily lives: their country, their community, and their sports teams. News, talk, and sports are simply different expressions of the same mission: giving people truthful information, honest perspective, and a voice. What makes the John Fredericks Media Network different is our independence. No newsroom hierarchy, no C-Suites, no suits and no boardrooms.”
owned-and-operated digital inventory both locally and nationally, including digital, audio, podcasts and creator-led content, creating a more unified path for advertisers to activate multi-platform campaigns at scale. iHeartMedia chief business officer Lisa Coffey comments, “Advertisers are increasingly looking for media solutions that combine scale, intelligence and simplicity across channels. By combining Amazon Ads’ shopping insights and advertising technology with iHeart’s audio leadership, we’re creating a more seamless, data-informed way for brands to create more effective campaigns across sound and sight.”
2024. Urban One CEO and president Alfred C. Liggins, III, states, “As expected, we had a tough fourth quarter due to a combination of non-recurring political advertising, soft radio markets and declining audience delivery in our cable television business. Despite this, we were able to achieve full-year Adjusted EBITDA within our previous guidance range at $56.7 million. The biggest revenue drag in the fourth quarter resulted from weak cable TV prime delivery, down approximately 20.0% from the third quarter, although we have seen a significant recovery in the first quarter 2026 as the revised Nielsen methodology has given us an approximate 40.0% – 50.0% lift compared to the fourth quarter 2025. Radio pacings in the first quarter of 2026 are currently down 5%, but we remain positive on the outlook for mid-term political revenues later in the year. I was pleased that we were able to repurchase a significant amount of our 2028 Notes at a discount, extend out the maturity on all but a small stub of the notes, and increase the size and term of our ABL Credit Agreement. This transaction sets up the company with a stable capital structure and extended maturity runway to allow us to continue to de-lever the business. In January 2026 we also regained compliance with the Nasdaq listing requirements by effectuating a 1-for-10 reverse stock split.”
revenue increased $47.7 million, or 14.1%, driven primarily by continuing increases in demand for digital and podcast advertising, as well as increased non-cash trade revenue resulting from strategic marketing initiatives. Multiplatform Group revenue decreased $19.2 million, or 2.8%, primarily resulting from lower political revenues, as 2024 was a presidential election year, as well as a decrease in broadcast advertising in connection with continued uncertain market conditions.
discoverability capabilities to small and mid-sized businesses that are being excluded from emerging search and discovery channels due to cost, complexity, and technical barriers.” Audacy SVP of digital Jenny Sutton says, “Local advertisers can be overwhelmed by the pace of change in digital marketing and discovery. By partnering with Next Net, we’re giving our clients a future-ready solution that integrates AI discoverability directly into the media and marketing strategies they already know and trust, without requiring technical resources or additional burden on the business owner.”
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their local market. Bonneville says, “The platform brings together Arizona Sports, Seattle Sports, Denver Sports, Sactown Sports, and KSL Sports in Salt Lake City, delivering more than 63 hours of live sports programming every day across audio, video, digital, and social channels.” Bonneville president and CEO Tanya Vea adds, “Bonneville Sports Network gives advertisers both flexibility and scale. Our network reaches fans wherever and whenever they engage with sports, across every platform. Advertisers can now leverage that strength in a way that aligns with their goals, whether they’re pursuing national reach or meaningful local impact.”
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place. This new data fusion will integrate the industry-leading Edison Podcast Metrics into Nielsen’s widely used media planning tool, Nielsen Media Impact 
(NMI).” Nielsen adds, “As podcast listenership continues to grow, it is critical for advertisers to have sophisticated tools and data to effectively plan, measure and optimize their audio investments. Nielsen Podcast Fusion in NMI will provide an even more holistic view of media planning and help users uncover valuable insights and demonstrate the effectiveness of their campaigns. NMI users will also be able to optimize media plans by specific podcast networks and genres, as well as top podcast programs.” NPR and Ocean Media are among the charter subscribers at launch.
expectations: core radio advertising finished at -12.4% excluding digital, and Cable TV advertising was -6.3%. Our cable TV ratings stabilized significantly in the first quarter of 2025 and are performing in line with our 2025 budget. Second quarter core radio advertising pacings have weakened over the past several weeks and are now -8.7%. Our first quarter 2025 digital revenues were down 16.1% driven by expected weakness in streaming and podcasting revenues. Based on our year-to-date performance, we reaffirm our full year guidance of $75 million in Adjusted EBITDA. Our cumulative debt repurchases so far in 2025 are $88.6 million at an average price of 53.9%, resulting in reduced gross debt of $495.9 million, and we currently have approximately $79.8 million of cash on hand. In a challenging marketplace, our focus remains on controlling costs, managing leverage and retaining a strong liquidity position.”
their business objectives through effective broadcast and digital advertising. The ideal candidate will possess excellent communication skills, have an enthusiastic and outgoing personality, along with a drive to succeed. Most importantly, we are looking for hard-working salespeople who want to have FUN at work, make money, and help local businesses grow.” 
operating income was approximately $38.6 million, an increase of 1.7% from the same period in 2023. Net loss was approximately $35.7 million for the quarter, compared to net loss of $11.0 million for the same period in 2023. Urban One CEO and president Alfred C. Liggins, III states, “Our Adjusted EBITDA of $103.5 million came in at the mid-point of guidance, helped by strong political advertising revenues in the radio division. The radio outperformance was offset by declines in both advertising and affiliate revenues at the cable TV segment, as audience delivery continued to underperform expectations. We are however seeing some stabilization in the first quarter cable TV delivery, which should help to mitigate the continuing decline of linear TV subscribers. First quarter core radio revenue demand weakened, with pacings down 13.6%, although the second quarter is showing signs of improvement, with core pacings currently down 1.7%.” 
Beasley CEO Caroline Beasley says, “2024 was a transformative year for Beasley as we took decisive actions to strengthen our balance sheet, streamline our operations, and position the company for long-term success. Through disciplined cost management and strategic capital initiatives, we achieved approximately $20.0 million in annualized expense reductions, improved our leverage profile, 
and enhanced our financial flexibility. These efforts, combined with the continued momentum of our digital business—now representing nearly 20% of total revenue—have reinforced our ability to navigate industry challenges while capitalizing on new growth opportunities in audio and digital media. As we enter 2025, we remain focused on executing our strategy to drive sustainable revenue growth, expand our digital offerings, and optimize our sales approach. We see substantial opportunities in harnessing data-driven insights, enhancing direct-to-consumer engagement, and providing our advertisers with cutting-edge marketing solutions. With a refined portfolio of premium brands, a leaner and more agile cost structure, and a strengthened financial foundation, Beasley is well-positioned to accelerate our digital evolution and deliver long-term value for our shareholders, audiences, and partners.”
continues to weigh on advertisers. With the advertising environment still unsettled, these new terms (spelled out in the preceding story) provide us additional time and flexibility to execute against our key business priorities – accelerating digital growth, reducing fixed costs, and continuing to de-lever our balance sheet – each of which is foundational to our ability to build long-term shareholder value.” The company took a net loss of $14.2 million in Q1, but it was far less than the net loss of $21.5 million it reported in Q1 of 2023. Cumulus breaks out its revenue in segments and the total broadcast revenue for Q1 of 2024 was $139.7 million, down 5.6% from Q1 of 2023. Spot revenue was $90.5 million (down 7.3%) and network revenue was $49.2 million (down 2.3%). The company’s digital segment reports revenue of $34.5 million, up 7.3% over the first quarter of 2023.
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.
The company states, “Net broadcast revenue decreased 3.7%, or $7.6 million, principally due to a $7.3 million decline in national and local spot advertising revenue. Spot advertising revenue has been declining in the industry due to reduced time spent listening, particularly on AM radio stations. Also, the political revenue decreased $3.6 million, or 61.5% to $2.3 million from $5.9 million. This decrease was partially offset by an increase in our broadcast digital revenue which increased $1.5 million or 4.1% due to increases from Salem Podcast Network, Salem News Channel and digital marketing services through Salem Surround. On a Same Station basis, net broadcast revenue decreased 4.0%, or $8.2 million, which reflects these items net of the impact of stations acquisitions and dispositions.” On the digital side, the company reports, “Net digital media revenue increased 0.7%, or $0.3 million. Net digital advertising revenue decreased due to Facebook algorithms that limit political content, the growing use of browsers that block third-party cookies limiting advertising, and the overall state of the economy that has weakened demand for advertising resulting in a lower number of advertisements and a reduction in rates.” 
forecast to account for 70.2% of political ad spend in 2024, down from 77.9% in 2020. As with past presidential elections, in 2024 over-the-air TV (TV OTA) will get the largest share of political ad dollars in local with an estimated $4.6 billion in forecast spending. Add in TV Digital, and the number rises to $4.9 billion. PC/Laptop will be the second highest at $1.3 billion, followed by Cable TV at $1.1 billion. Cable TV is the only media channel forecast to be down from 2020 in this category, by nearly $183 million. Coming in fourth is relative newcomer Connected TV/Over-the-top TV (CTV/OTT), which is forecast to grow to $1.0 billion in 2024 from only $74 million in 2020. Over-the-air radio remains steady with $536 million in 2024, up 16% from 2020.”
2022. iHeartMedia breaks down its operations into segments and here’s what it reports for the full year of 2023: Broadcast Radio revenue was $1.75 billion (down 7% from 2022), Networks revenue was $466 million (down 7.3%), Podcast revenue was $407.8 million (up 13.8%), and Digital (excluding Podcast) revenue was $661 million (basically flat). iHeartMedia chairman and CEO Bob Pittman states, “We’re pleased to report that our fourth quarter results were in line with our previously provided Adjusted EBITDA and Revenue guidance ranges. This quarter the Digital Audio Group achieved the highest Adjusted EBITDA and margin in its history, illustrating the success of this high growth business. We view 2024 as a recovery year in which the company returns to growth mode – we expect to see our Multiplatform Group performance improve quarter by quarter throughout the year, and we expect our Digital Audio Group, including our industry leading podcast business, to continue to grow and reinforce its leadership position in the segment.”
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leaders, mentors, and game changers within all aspects of radio broadcasting. Four candidates from the radio broadcasting industry – within all of the disciplines of radio including sales, marketing, programming, and digital – will be selected for the 2023- 2024 program. MIW board president Ruth Presslaff comments, “We are so pleased to launch the Mildred Carter mentorship program with the very generous and consistent support of Beasley Media Group and Entravision. Based on our application pool, it’s clear there’s a great need for mentoring and we are here for it.” 
Cumulus president and CEO Mary Berner comments, “Despite continued challenges in the overall market, our second quarter revenue performed in-line with expectations while Adjusted EBITDA exceeded them. As in prior quarters, we generated strong revenue growth in our digital marketing services business, implemented meaningful cost reductions, and further improved our balance sheet by generating cash from operations and reducing our total and net debt to the lowest levels in more than a decade. Additionally, we executed a highly accretive and opportunistic tender offer, which resulted in the retirement of approximately 10% of our shares outstanding. Our proven track record of strong operational and financial execution in adverse conditions gives us unwavering confidence in our ability to optimize results in the current weak ad market and rebound strongly when the environment improves. In the meantime, we will continue to invest in our digital businesses, further enhance our operating leverage through additional cost reductions, and execute on our strategy to opportunistically deploy capital to maximize long-term shareholder value.”
I’m sorry.
Are you a multiplatform juggler? If you sell or manage for a radio station, the answer is yes.