Industry News

Beasley Broadcast Group Reports Q1 Net Revenue Down 5.9%

The company says that net revenue for the first quarter of 2024 was $54.4 million, a decline of 5.9% from the same period in 2023, saying this was “primarily reflecting a year-over-year decline in audio advertising and other revenue due to Beasley’s Wilmington station and esports divestitures as well as ongoing softness in the commercial advertising business, partially offset by growth in digital and political advertising revenue.” Beasley reports net income of approximately $8,000 in Q1, compared to a net lossim of $3.5 million for the same period in 2023, “primarily due to the $6 million gain on the sale of an investment in BMI holdings and lower interest expense.” Company CEO Caroline Beasley states, “Beasley continues to advance our core initiatives, which are focused on driving revenue and cash flow, including our digital transformation, revenue diversification and expense management initiatives. We expect digital to account for between 20% and 25% of total revenue in 2024, driven by the ongoing growth and success of our premium content creation and digital services. On the new business front, our dedicated sales teams are leveraging the tremendous audience reach and engagement of our platform to attract new advertisers. In summary, Beasley’s underlying fundamentals – mainly, our local audio and digital platforms and audience engagement – remain strong. We are proud of our teams’ steadfast commitment to delivering exceptional content and services to our listeners, advertisers, online users and sports fans, and remain confident that the actions we are taking to transform our company and strengthen our balance sheet, are laying the foundation for future growth and success.”

Front Page News Industry News

Tuesday, January 4, 2022

Good Karma Brands to Sell Wisconsin Signals. Two Southeastern Wisconsin radio signals will change hands, pending FCC approval, and will air a news/talk format. Wisbusiness.com reports that Good Karma Brands is selling WAUK-AM, Waukesha and FM translator W266DR  at 101.1 FM to New WTTN, LLC, led by Wisconsin broadcaster and company CEO Michael Crute. The terms have not been announced. The signals are currently airing sports talk but will flip to news/talk when New WTTN takes control. Crute is co-host of the Madison-based “Devil’s Advocates” program heard on the company’s WTTN-AM/W224EG, Madison “Devil Radio 92.7.” WAUK will be branded “The ‘SHA” and will “broadcast Waukesha-first news, sports, traffic, and weather in 2022 and beyond.” Initially, the station will simulcast the Madison programming that includes: “Matt Flynn Direct” from 6:00 am to 8:00 am; WYD Media’s “Thom Hartmann Program” from 11:00 am to 2:00 pm; “Dueling Tangents with Luke Mathers and Bryan Kelly” from 2:00 pm to 3:00 pm; “The Devil’s Advocates” from 3:00 pm to 5:00 pm; and “The Earl Ingram Show” from 5:00 pm to 6:00 pm. It intends to add locally hosted programming in the spring. Bryan Kelly will serve as operations manager for the station. WAUK has leased an office space and will immediately build a studio location in downtown Waukesha. Crute says, “We are excited to serve Waukesha, a community lacking a locally focused news/talk commercial radio station. WAUK Radio will immediately offer $50,000 total in ‘Good Neighbor’ small business or non-profit grants to help serve the Waukesha community from day one. The grants are for advertising on WAUK. They will be awarded throughout January to locally owned, Waukesha businesses. We will begin accepting applications for our Good Neighbor grants on January 3, 2022.”

Westwood One Blog: Strategies for Successfully Advertising in Local Radio. This week’s CUMULUS MEDIA | Westwood One Audio Active Group blog outlines what it calls “five strategies to help build a successful local audio plan.” Stating that due to the “shift of TV audiences to advertising-free video platforms, local advertisers are turning to audio to build their brands and drive sales,” the Audio Active Group proposes the following: 1) Allocate the budget to align with how people use audio: A well-balanced audio campaign puts 63% of the budget into over-the-air AM/FM radio and 11% into AM/FM radio streaming. 26% of the budget goes to a combination of pureplay streaming and podcasts; 2) Determine the monthly campaign objective (minimum, maintenance, high impact, or launch/grand opening) and budget accordingly: To determine the monthly budget, multiply the market cost per point against the GRP levels. In a market with a $10 cost per point, the minimum monthly campaign would be $2,000. The grand opening campaign would be $5,000 per month; 3) Align impressions and media weight with listening by time period to get the largest possible campaign reach: Per Nielsen, 60% of AM/FM radio listening occurs outside of morning and afternoon drive. Spread media weight across all days and dayparts. About a quarter of media weight should run in middays. Place 20% of the budget respectively into weekends, mornings, and afternoons. 8% goes to nights and 5% to overnights; 4) Find the right audience with AM/FM radio programming formats: While the audience composition of TV shows can vary widely, AM/FM radio station programming formats are very cohesive, appealing to the same audience around the clock. Find the AM/FM radio programming formats that match your target using either median age, total reach, gender skew, presence of children, or household size; and 5) Based on the marketing objective, determine the weekly number of ads to run on a station from four types of schedules (very light, light, medium, or heavy): A very light station schedule reaches one-third of a station’s audience an average of 1.4 times. A light schedule reaches half of a station’s audience two times. A medium schedule reaches two-thirds of a station’s audience three times. A heavy schedule reaches 78% of a station’s audience 4.3 times. See more here.

KIRO-FM, Seattle Unveils ‘Leaving a Legacy’ Podcast. A new podcast from Bonneville’s KIRO, Seattle “News Radio 97.3 FM” launches today (1/4). KIRO-FM late morning personality Gee Scott hosts the “Leaving a Legacy Podcast” in which he “takes listeners on a journey to discover how some of our most influential public figures want to leave their legacy on this world, and how his own experience can be contributed to the shoulders of giants that came before him.” Scott says, “My father always talked about legacy, and this podcast connects me to him now that he’s gone. I’m so excited to learn from these powerful influencers to see what they’re passionate about and what they want their legacy to be. It’s a powerful question, and one that truly puts into perspective our why during the short time we’re all here on Earth.” The inaugural program features former Seattle Seahawks wide receiver and current “CBS Mornings” host Nate Burleson. Other guests include author, activist and journalist Amanda Knox, the ‘King of Twitter’ Josiah Johnson, and Gravity Payments CEO Dan Price, who famously decided to pay all his employees a $70,000 minimum salary.

CES 2022: 5G, 4 Wheels, 3Days. This year’s show wraps a day early, on Thursday, “as an additional safety measure” and COVID concern has scared-off major exhibitors and what TALKERS contributor Holland Cooke estimates is “less than half of 2020’s 170,000-some.” But he says “there’s still lots to see (if not touch)” and that he is “among longtime attendees who appreciate the elbow room.” Read more here.

Audacy Announces Deal with Samsung for Podcast Distribution. A new content partnership between Audacy and Samsung will make Audacy’s entire podcast library available on Samsung platforms, including the Samsung Free platform that comes on Galaxy smartphones. Users will have access to content from Audacy’s Cadence13, Pineapple Street Studios and 2400Sports podcast studios, along with hundreds of other Audacy podcast titles. Audacy EVP of strategy and corporate business development Tim Murphy says, “We’re delighted to expand the reach of our robust podcast library to Samsung Free users across the country and put our award-winning titles on more devices for more consumers.”

TALKERS News Notes. After 12 years of leadership under Gordon Smith, the National Association of Broadcasters has a new president and CEO as Curtis LeGeyt assumed the role on January 1. NAB Joint Board of Directors chairman David Santrella (CEO of Salem Media Group) says, “The broadcasting community is extremely grateful to Gordon for his many years of service as an influential advocate for our industry. We are excited to now have Curtis at the helm to guide the organization into its next chapter. He is a proven leader and skilled fighter on behalf of broadcasters, and we are thrilled to have him serve as our voice in Washington and around the world.”…..Later this month, Newsweek will build on its in-depth coverage of the British Royal Family with a new podcast. “Royal Report” will be hosted by Newsweek’s British royal correspondent Jack Royston and American culture critic, royal watcher and author Kristen Meinzer. New episodes will appear every two weeks and will provide American royal watchers with fresh reporting and analysis of the House of Windsor…..The board of directors of New England Public Media announces that Matt Abramovitz is named the new president of NEPM.  “In his role as president, Abramovitz will be responsible for leading NEPM’s efforts across radio, television, and digital media platforms, furthering its mission of serving the people of western New England by providing trustworthy journalism, cultural content, events and initiatives, educational services, and community engagement.” Abramovitz has been serving as vice president of programming for New York Public Radio‘s classical station WQXR-FM.

USA Radio’s Brad Bernards Passes. Sad news from USA Radio Networks as the organization reports that USA Radio night and weekend anchorman Brad Bernards has died.  USA Radio COO Janet Porter Bro says Bernards was a key component of USA’s quality broadcast team. He was a school teacher in the Valentine, Texas school district who launched an internet radio station to cover local news in Presidio County, teaching the broadcast business to student interns. Bro adds, “It has been a very trying four months for the USA Radio Networks family. We lost CEO Fred Weinberg in September and long-term Christian interest news anchor John Clemens last month.”

COVID-19, January 6 Investigation, Trump Family Subpoenas, Filibuster-Voting Rights Battle, Epstein Fallout, Holmes Verdict, and Southeastern Snow Storm Among Top News/Talk Stories Yesterday (1/3). The fast-spreading Omicron variant and battles over school attendance policies; the investigation into the January 6 Capitol attack; the New York attorney general subpoenas Donald Trump Jr. and Ivanka Trump in the investigation into the Trump Organization; Senate Democrats threaten to change floor rules regarding the filibuster if it doesn’t take up voting rights legislation; Prince Andrew’s battle with U.S. courts over his relationship with Jeffery Epstein and Virginia Giuffre; Elizabeth Holmes is found guilty of three of 11 charges in the Theranos case; and the Southeastern U.S. is pounded by rare snow storms were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.