Tag: net income

Industry News

Saga Communications Q4 2022 Revenue Up 3.3%; Full Year 2022 Up 6%

By TALKERS | by TALKERS

Reporting its operating results for the fourth quarter of 2022 and for the full year, Saga Communications reports net revenue increased 3.3% to $30.1 million for Q4 of 2022, compared to $29.2 million for the same period a year ago. It says net revenue increased 6% to $114.9 million for the full year of 2022 compared to $108.3 million for the full year of 2021. Although net income rose almost 16% to $4.27 million in Q4 of 2022, Saga’s net income dipped 17.5% to $9.2 million for the full year of 2022. The company adds, “Despite strong underlying performance the results were impacted by one-time payments during the 3rd quarter related to the passing in August of our founder Ed Christian. As a result of Ed Christian’s passing, the company was required to make several payments to his estate as outlined in his employment agreement. Without these expenses operating income would have increased 12.3% to $16.9 million, free cash flow would have been approximately flat with last year at $13.6 million and net income would have increased 16.8% to $13 million.”

Industry News

SiriusXM Cuts Workforce by 8%

By TALKERS | by TALKERS

News of satellite radio firm SiriusXM cutting 8% of its staff – about 475 jobs – is being widely reported after CEO Jennifer Witz sent a companywide email revealing the company’s plans. In her comments regarding the company’s 2022 fourth quarter and full-year operating results, Witz called 2022 a “strong year,” but added, “In 2023, we expect SiriusXM to deliver strong operating performance and generate significant cash, even as we face a challenging economic environment and continue to make material investments in our technology infrastructure.” Witz adds, “Over the past five years, our business has grown and expanded with the addition of new acquisitions, business lines, and revenue streams. Now, we have completed an assessment of our departments and functions to determine where we can improve collaboration, consolidate teams to achieve greater efficiencies, and ultimately, design an organization structure that is best positioned to achieve our priorities. As a result, nearly every department across SiriusXM will be impacted. We believe the new operational design will allow us to move faster and more effectively as we take on new challenges across our business.” While numerous companies report net losses each quarter, SiriusXM has been reporting net income for some time. The company reported net income of $1.2 billion for 2022, but that was a decline of $100 million from the $1.3 billion in net income it reported for 2021.

Uncategorized

iHeartMedia Q4 2022 Net Revenue Rises 6%; Full Year Up 10%

By Editor | by Editor

iHeartMedia reveals operating results from the fourth quarter of 2022 and for the full year of 2022. The company says net revenue for Q4 was $1.12 billion, an increase of 6% over the same period in 2021, and full year net revenue for 2022 was $3.9 billion, up 10% over the previous year. The company reports net income of $80.6 million for Q4 of 2022 and a net loss of $262 million for the full year. iHeartMedia breaks its results into three segments. The Multiplatform Group (including broadcast stations, networks and sponsorships & events) reports Q4 revenue of $732 million – a 0.9% increase over Q4 2021. Broadcast revenue grew $3 million, while Networks declined $5.5 million (4.1%). Revenue from Sponsorship and Events increased by $8.1 million (12.1%). The Digital Audio Group reports revenue of $301 million in Q4 of 2022 – up 10.2% over Q4 of ’21. Podcast revenue increased by $16.4 million (16.9%). The Audio & Media Services Group reports Q4 2022 revenue of $94.5 million – an increase of 44.3% over the same period in 2021. iHeartMedia chairman and CEO Bob Pittman says, “We are pleased to report another quarter of solid operating results for iHeart in consumer usage, revenue, and earnings growth. The fourth quarter was our best quarter for Revenue and Adjusted EBITDA – and on a full-year basis, in 2022 we generated the highest revenue and the second highest Adjusted EBITDA and Free Cash Flow year in iHeart’s history. Even in this continuing challenging and uncertain economic environment, we continue to make strong progress in our transformation of iHeart into a true multiplatform audio company – driven by innovation, supported by data and technology, and powered by the largest sales force in audio – and we are positioning iHeart to take advantage of the coming economic recovery.”

Industry News

Cumulus Media Q4 2022 Revenue Dips; Up 4% for Full Year

By TALKERS | by TALKERS

Reporting its operating results for the fourth quarter of 2022 and for the full year, Cumulus Media says Q4 net revenue was $251 million, a decline of 0.4% over the same period in 2021. For the full year of 2022, net revenue was $953.5 million, an increase of 4% over all of 2021. While Cumulus reported a small loss for Q4 of 2022 ($54,000), the company is reporting net income of $16.2 million for the full year, a decline of 6% from the full year of 2021. For the full year of 2022, Cumulus’ broadcast radio revenue was basically flat (-0.1%) at $709.6 million and its digital revenue was $142.3 million, an increase of 12.2%. Breaking down the broadcast radio segment, spot revenue was $479.8 million – up 4.9% over 2021 – but network revenue was off 9% for the year at $229.7 million. Cumulus president and CEO Mary G. Berner says, “Despite considerable economic turbulence, we delivered fourth quarter financial performance in the upper half of our guidance range, continuing a multi-year period of significant accomplishments. Operating through a series of difficult macroeconomic environments, including the pandemic, we successfully executed a strategic plan under which we developed and drove new areas of growth, right sized the balance sheet, improved the company’s operating leverage and returned capital to shareholders. As a result, we have delivered consistent revenue growth, built several digital businesses to a $150+ million revenue run-rate, reduced our net leverage to its lowest level in more than a decade, and boosted our liquidity to give ourselves optionality regarding capital allocation.” Looking ahead to 2023, we continue to face substantial economic headwinds. However, our battle-tested skill in performing during challenging times, as well as our very strong financial position, gives us substantial confidence in our ability to not only weather this depressed ad environment but take full advantage of opportunities that may arise over the coming quarters.”

Industry News

Beasley Reports Q4 2022 Revenue Up 1.8%

By TALKERS | by TALKERS

Beasley Broadcasting Group issues operating results for the fourth quarter of 2022 and for the full year. Net revenue during the three months ended December 31, 2022 increased 1.8% to $72 million, primarily reflecting a year-over-year increase in digital revenue, political revenue and other revenue, partially offset by a slight decrease in audio revenue related to softness in the national agency business. For the full year of 2022, Beasley reports net revenue of $256.4 million, an increase of 6.2% over 2021. The company also reports a net loss of $25.8 million in Q4 of 2022, compared to a net income of $10.6 million in Q4 of 2021. Beasley says, “Operating loss, net loss and net loss per diluted share for the three months ended December 31, 2022 include $44.2 million of non-cash impairment losses related to FCC licenses, goodwill and franchise rights. Operating loss, net loss and net loss per diluted share for the 12 months ended December 31, 2022 include $54.7 million of non-cash impairment losses related to FCC licenses, goodwill and franchise rights.” Beasley CEO Caroline Beasley comments, “Beasley’s 2022 fourth quarter and full-year financial results reflect the ongoing success of our digital transformation and revenue diversification strategies, which drove year-over-year increases in revenue and SOI for both the three- and 12-month periods. Throughout the year, Beasley largely offset ongoing challenges related to the economy and softness in the national spot market, as we generated healthy growth across all of our digital, local audio, political and other revenue sources, as reflected by the 6.2% increase in full year net revenues to $256 million. This top-line growth was the primary factor contributing to a 2.8% year-over-year increase in full year SOI to $43.1 million. While economic uncertainty remains, Beasley initiated several actions throughout the year that we believe will strengthen the long-term position of our business. First, our digital strategy continues to deliver strong results with fourth quarter digital revenue growth of 13.2% year-over-year, representing nearly 17% of total fourth quarter revenue. Digital revenue has consistently outpaced national spot advertising revenue over the past several quarters due to a combination of organic growth and contributions from the second quarter acquisition of our white label digital agency business, Guarantee Digital. With accelerating demand from consumers and advertisers for our local content and multi-platform marketing solutions, we are solidly on the path for this revenue source to reach 20% of total revenue. Second, we remain focused on monetizing our premium audio and digital content through new local business development, revenue diversification and maximizing political revenue opportunities. As a result, in the fourth quarter, we delivered $5.1 million in net political revenue, with stronger than expected gains in Las Vegas, Philadelphia, and Detroit, as well as year-over-year total revenue increases across nearly all of our markets and in our esports business. Our radio brands remain dominant in Nielsen Audio ratings, where Beasley currently has the highest average cluster share when compared to the major radio broadcasters in PPM. Finally, we implemented a cost reduction program in the second half of 2022, with the majority of cost cuts occurring in October.”

Industry News

SiriusXM 2022 Q4 Revenue Flat; 2022 Up 4% Over 2021

By TALKERS | by TALKERS

SiriusXM reports results from the fourth quarter of 2022 as well as the year in full. For Q4, revenue was $2.28 billion, flat compared to the same period in 2021. For the full year of 2022, revenue was $9.0 billion, an increase of 4% over the full year of 2021. The company ended 2022 with 32.4 million self-pay subscribers, an increase of 348,000 for the year, aided by a growing base of streaming-only subscribers. Net income for Q4 of 2022 was $365 million, up from the $318 million posted in Q4 of 2021. For the year, net income was $1.2 billion, down from the $1.3 billion reported in 2021. CEO Jennifer Witz says, “2022 was a strong year for SiriusXM, as we continued to focus on bringing consumers the best in audio entertainment both in-car and on the go, reaching record high revenue and record low churn. Our strong operating and financial performance in 2022 are a testament to our resilient business model and growing contribution from streaming, which helped us deliver 348,000 net new self-pay subscribers. In 2023, we expect SiriusXM to deliver strong operating performance and generate significant cash, even as we face a challenging economic environment and continue to make material investments in our technology infrastructure.”

Front Page News Industry News

Wednesday, November 9, 2022

By Editor | by Editor

Townsquare Media’s 2022 Third Quarter Net Revenue Soars 8.4%. Third quarter net revenue was $120.6 million – an increase of 8.4% over the same period in 2021. Townsquare Media reveals in its 2022 Q3 financial report that net income for the quarter decreased $10.1 million to $2.8 million, as compared to $12.9 million in the same period in 2021, primarily driven by non-cash impairment charges to the company’s FCC licenses of $10.3 million. Townsquare Media breaks its financial reports in to three operating segments. For the third quarter of this year, Digital Advertising net revenue increased $6.5 million, or 21.3%; Subscription Digital Marketing Solutions net revenue increased $2.1 million, or 9.7%, as compared to the same period in 2021 due in part to the addition of approximately 850 additional net subscribers during the third quarter of 2022; and Broadcast Advertising net revenue increased $2 million, or 3.4%, compared to Q3 of 2021. Townsquare CEO Bill Wilson comments, “I am proud to report another record setting quarter of results that clearly demonstrate the undeniable success and differentiation of Townsquare’s transformation into a Digital First Local Media company. The Townsquare team reached all-time Q3 highs with net revenue growth of 8% year-over-year, and Adjusted EBITDA growth of 6% year-over-year, meeting our Q3 guidance. In addition, net leverage declined to an all-time low of 4.54x as we continue to make progress towards our 4x net leverage target. Our growth engine has been and will continue to be our digital solutions, which were the primary driver of our third quarter growth, accounting for half of Townsquare’s total revenue and total profit. Total digital revenue increased 17% year-over-year in the third quarter, and trailing 12-month digital revenue grew to $225 million. As a uniquely positioned Digital First Local Media Company focused principally on markets outside of the top 50 in the United States, Townsquare has a resilient digital growth engine supported by both a recurring subscription digital marketing solutions business, with a large addressable market and limited competition, and a highly differentiated digital advertising technology platform.”

Ramsey Solutions to Give Free Finance Course to 1,000 Veterans in Recognition of Veterans Day. In honor of Veterans Day this Friday (11/11), Dave Ramsey announces that he is giving away access to his company’s Financial Peace University for 1,000 veterans on “The Ramsey Show.” Ramsey Solutions says the nine-lesson digital personal finance course has helped millions take control of their money for 30 years. Veterans who enter their information on the company’s website and are selected, will be able to join a class in-person or go online to watch videos on-demand as they learn the fastest way to pay off debt, save for emergencies and invest for the future. Military members list financial troubles among their top stressors. In the first 90 days of working the FPU plan, the average household pays off $5,300 of debt and saves $2,700 for emergencies.

KFI, Los Angeles Set to Begin 12th Annual Pastathon with SoCal Wendy’s Restaurants Joining the Cause. The annual KFI Pastathon charity event that encourages listeners to donate money, pasta, and sauce to benefit Caterina’s Club gets underway on Tuesday (11/15) and includes new partner Wendy’s restaurants in Southern California. The iHeartMedia news/talk station says that Caterina’s Club provides more than 25,000 nutritious meals every week to children in need in Southern California. The charity also helps families get back into stable home environments and teaches teens the skills they need to work in the hospitality industry. This year, all 168 Wendy’s restaurants in Southern California will offer their customers a donation option from November 16 through December 4.  In addition, on November 29, ‘Giving Tuesday,’ these Wendy’s will also donate $1 from every Frosty sold to the KFI PastaThon. With the help of listeners, local businesses, and the continued partnership with Smart & Final stores and Barilla Pasta, the 2021 event raised a record-breaking $1 million dollars and 115,000 lbs of pasta and sauce. Since 2010, the KFI PastaThon event has raised over $4.6 million and 700,000 pounds of pasta and sauce for children in need in the community. KFI program director Robin Bertolucci states, “We are so delighted to have Wendy’s partner with us on our efforts to feed Southern California kids. Because of generous partners like Wendy’s, Chef Bruno is feeding over 25,000 kids every week. As we embark upon our 12th annual KFI PastaThon we know the need is bigger than ever but so are the hearts of our listeners and partners. Our goal this year is to once again raise over a million dollars.  Thank you to Wendy’s for helping us make that dream a reality!”

Radio and Podcast Power Session Being Made Available for Colleges & Universities. The Library of American Broadcasting Foundation (LABF), in partnership with Benztown, the University of Maryland and the Broadcast Education Association (BEA), are creating a produced 90-minute, on-demand recorded Zoom video session focused on radio and podcasting for colleges and universities utilizing the LABF collection. The LABF Radio and Podcasting Power Session initiative, led by LABF board members Dave “Chachi” Denes – Benztown president – and BEA executive director Heather Birks, features University of Maryland reference specialist Michael Henry hosting a virtual walk-through of the library, followed by an insightful conversation about the vast collection highlighting incredible moments in U.S. history captured through the eyes and voice of television and radio broadcasters. Additionally, industry professionals from across different disciplines of the podcasting and radio business, including radio executive Mike McVay along with Benztown’s R Dub! from “Sunday Night Slow Jams”, Darren Silva and MJ Bloch, Tom Green, Susan Aksu, Beasley Media Group chief revenue officer Tina Murley and other experts speak to the students about the many career opportunities available to them in the industry. Denes says, “Everyone involved with this program is passionate about radio and podcasting. It’s an absolute honor to be able to share our knowledge with students that will someday be leading the industry.” The initiative initially launched as a semester-long course with Clark Atlanta University in 2021. The school is the first to utilize the 2022 90-minute abridged class-offering. It will be available to colleges and universities.

TALKERS News Notes. A new deal between Cumulus Media’s news/talk WLS-AM and Motor Racing Network will have the station airing the NASCAR Cup Series beginning in 2023. This three-year pact comes on the heels of the news that the City of Chicago has signed a three-year deal with NASCAR as the home of the first-ever Chicago Street Race. The unprecedented 12-turn, 2.2-mile Chicago Street Race will take the Cup Series and NASCAR Xfinity Series past and through many of Chicago’s most renowned downtown landmarks during Fourth of July Weekend, July 1-2, 2023. WLS program director Stephanie Tichenor says, “We are thrilled to be the new Chicago radio home of NASCAR and we look forward to growing this new partnership as we gear up for the first-ever Chicago Street Race next summer – and what promises to be an unforgettable Fourth of July weekend.”…..SiriusXM announces the launch of a new original comedy channel, Team Coco Radio. Executive produced by Conan O’Brien, the channel will feature exclusive audio content as well as select Team Coco podcasts, including the popular “Conan O’Brien Needs a Friend.” The channel debuts on November 15. Subscribers can hear the biggest interviews and the funniest stand-up moments from Conan’s iconic TBS show, as well as select Team Coco podcasts, including “Conan O’Brien Needs a Friend,” plus “Inside Conan” and “Conan O’Brien Needs a Fan.” Fresh commentary from Conan will also be weaved throughout the programming, as he recalls funny behind-the-scenes stories and other entertaining and insightful anecdotes.

Midterms/Trump’s 2024 Aspirations, The Economy, China COVID Lockdowns, Meta Layoffs/Twitter Chaos, January 6 Cases, Russia-Ukraine War, Powerball Jackpot, and Tropical Storm Nicole Among Top News/Talk Stories Yesterday (11/8). Tuesday’s midterm elections, the battle for control of Congress combined with former President Donald Trump’s expected announcement he’ll run in 2024; inflation and fears of a recession; the COVID lockdowns in China and their effect on the global supply chain; Facebook parent Meta to lay off 11,000 workers and Elon Musk’s mercurial leadership of Twitter; the trials of Oath Keepers for seditious conspiracy relative to the January 6 Capitol attack; Russia’s attack on Ukrainian infrastructure; a ticket for the record $2 billion Powerball jackpot sells in California; and Florida braces for Tropical Storm Nicole 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

Monday, November 7, 2022

By Editor | by Editor

Beasley Broadcast Group Q3 Net Revenue Rises 1.5%. Financial data from Beasley Broadcast Group’s third quarter of 2022 reveals net revenue of $63.8 million – an increase of 1.5% over the same period in 2021. The company reports operating income of $4.7 million in the third quarter of 2022 compared to $4.9 million in the third quarter of 2021. It says this slight decrease was driven by a $1.2 million increase in corporate expenses related to investments in its digital business as well as severance expense, partially offset by a year-over-year increase in Station Operating Income (SOI, a non-GAAP financial measure). Beasley reports net income of $500,000 compared to the net loss of $1.6 million it reported during the same period a year ago. Station operating income increased by 5.1% to $12.3 million in the third quarter of 2022, up from $11.7 million in the third quarter of 2021. The company says the increase is primarily attributable to higher net revenue, which more than offset higher operating expenses. Chief executive officer Caroline Beasley says, “Beasley delivered another strong period of operating and financial performance, reflecting the ongoing success of our digital transformation and revenue diversification strategies. Top-line growth was the primary factor contributing to a 5.1% year-over-year increase in SOI to $12.3 million and was driven by continued strength in local audio advertising and impressive growth in our digital business. Regarding the economic environment, like many companies, we are managing through some challenging market conditions with a focus on what we can control. We continue to experience increased volatility in national spot advertising, which accounted for approximately 15% of our third quarter net revenues. The ongoing strength of our digital and local audio advertising revenues is helping us to partially offset these declines. We are also taking actions on the expense side, and have implemented approximately $10 million in expense reductions, of which roughly half were from a reduction to headcount. Digital remains a key component of our revenue diversification strategy. Digital revenue increased 23.1% year-over-year representing 16% of total third quarter revenues, while our digital margin improved. Our digital performance benefitted from a first full quarter contribution from the white label digital agency we acquired in late June, which we believe will continue to accelerate our digital revenue growth and provide meaningful synergies with our growing digital platform. In both the second and third quarters, digital revenue accounted for a larger share of our revenue than national advertising, and we expect this revenue source to continue offsetting national spot weakness in the coming quarters. Total outstanding debt as of September 30, 2022 was $290 million. In summary, we believe these results demonstrate the strength and relevance of our industry-leading audio and digital content, as well as our teams’ extraordinary efforts to serve our listeners, customers and communities through challenging circumstances. And while we cannot control how the economic situation evolves in the coming months, we have already taken decisive steps to mitigate the impact of near-term headwinds and drive continued progress against our long-term growth strategy. Looking ahead, we will continue to focus on maximizing our growth opportunities, managing our expenses and capital structure, serving our audiences and advertisers and delivering results for our stockholders.”

Monday Memo: Your Podcast ‘Bones.’ Like your on-air work, your podcast is a show. And consultant Holland Cooke figures that “as a professional broadcaster, you enter the on-demand audio arena advantaged over others…BUT…” In this week’s column, HC cautions that – given the way podcasts are consumed – your format is critical. Read it here.

 

Greg Renoe Promoted to Market Manager for Cumulus Columbia/Jefferson City. The company promotes Greg Renoe from his general sales manager position with the Columbia and Jefferson City, Missouri clusters to vice president and market manager. The station groups consist of news/talk KFRU, Columbia and news/talk KLIK, Jefferson City plus five music brands. Cumulus Media SVP of operations Mark Sullivan says, “Greg’s long-standing relationships with our staff, key advertisers, and civic leaders, together with his deep knowledge of the market and effectiveness as a leader, have earned him this promotion. I look forward to his continued success with our organization in Middle Missouri.” Renoe adds, “I’m excited to have the opportunity to lead the Cumulus team here in Middle Missouri. I’m looking forward to the challenges ahead and sharing in many successes with my co-workers. There is no end to what we can accomplish together with our collective vision for these incredible assets.”

iHeartMedia Names Doug Hall Digital PD for LA and SF. Digital media pro Doug Hall is named regional digital program director for iHeartMedia’s Los Angeles and San Francisco clusters. Hall has been serving with the national iHeartRadio team as a senior digital director out of the Nashville headquarters. In this new role, Hall will be responsible for the strategy, audience growth, and maximizing iHeartMedia’s digital platforms in these markets. Hall will report to John Peake, SVP of programming for iHeartMedia Los Angeles. Peake says, “Our iconic Los Angeles audio brands and on-air talent are the engines that are driving unprecedented digital growth. I’ve watched Doug grow and evolve from his time in promotions to leading winning teams in San Francisco, Miami and Nashville. We are fortunate to have him leading our LA digital efforts and rejoining the team in San Francisco.” Hall comments, “I’m excited for this full circle moment, coming back to Los Angeles, where it all started. I can’t wait to dive in and help both our Los Angeles and San Francisco markets continue to grow and innovate in the digital space.”

Megan Marcus Returns to Paramount as VP of Podcast Editorial. Producer and journalist Megan Marcus is named vice president of podcast editorial at Paramount where she will oversee content for CBS News’ slate of podcasts. In this new role, Marcus will oversee the full creative slate for CBS News podcasts in addition to working on editorial across all Paramount global podcasts. This marks a return to CBS News for Marcus, who produced the first two seasons of Mo Rocca’s award-winning podcast “MOBITUARIES” and also worked closely with the CBS News team. Paramount EVP of podcasting and audio Steve Raizes says, “Megan is a dynamic producer and leader in the podcasting field. She did an incredible job guiding ‘MOBITUARIES’ to the top of the podcast charts and is already at work on our current and future slate of CBS News Audio properties.”

Broadcasters Foundation of America Launches Year-End Giving Campaign. The Broadcasters Foundation of America is launching its annual year-end giving campaign. The appeal asks for tax-deductible donations to provide financial assistance to people in broadcasting whose lives have been shattered by debilitating illness, accident, or catastrophe. BFoA president Tim McCarthy says, “Our grantees are your colleagues. They are hard-working men and women who through no fault of their own need our help. Requests for aid continue to increase every year. We cannot turn our backs on those in our industry who need our help.” This year, the Broadcasters Foundation will award close to $2 million in monthly and one-time emergency grants. Since 2017, monthly grants have increased 70% and more than 600 emergency grants have been awarded. Over the past 20 years, the Broadcasters Foundation has distributed more than $15 million to broadcasters in need. Broadcasters Foundation board of directors chairman Scott Herman adds, “Disaster often strikes without notice and extreme circumstances can deplete a life’s savings quickly. We need everyone in radio and TV to spread the word about the Foundation’s charitable mission across their station and company, in case they or someone they know needs our help.” More information, including how to make a personal or corporate donation or apply for aid is available at www.broadcastersfoundation.org, and by contacting the Foundation at 212-373-8250 or info@thebfoa.org.</p

Midterm Elections/Trump in 2024, The Economy, Russia-Ukraine War, Elon Musk & Twitter, Daylight Saving Time Controversy, Astros Win World Series, and Powerball Jackpot Among Top News/Talk Stories Over the Weekend. Tuesday’s midterm elections and the battle for control of the House and Senate, combined with expectations that Donald Trump will announce his bid for the 2024 Republican nomination shortly; inflation and concerns about a recession; Russia’s targeting of Ukraine’s infrastructure as the war grinds on; Elon Musk’s mercurial leadership tactics as owner of Twitter; the debate over Daylight Saving Time and whether to make it permanent in the U.S.; the Houston Astros beat the Philadelphia Phillies in the World Series; and the now $1.9 billion Powerball jackpot were some of the most-talked-about stories on news/talk radio over the weekend, according to ongoing research from TALKERS magazine.

Front Page News Industry News

Friday, November 4, 2022

By Editor | by Editor

NOW POSTED: This Weekend’s Installment of “The Michael Harrison Wrap: An Overview of the National Conversation.” The latest installment of the one-hour weekend special, “The Michael Harrison Wrap,” that looks back each week at the hottest topics discussed in American talk media per the research of TALKERS, is now posted. This new episode titled, “Trick or Tweet,” looks back at this past week of 10/31-11/4. The program features guests (in order of appearance): Kevin Casey, executive editor, TALKERS; Dr. Murray Sabrin, professor emeritus of finance, Ramapo College, NJ; Mark Davis, talk show host, 660 AM The Answer, Dallas/Fort Worth; Bobbie Winston a.k.a. La Femme Bobbie, musician/artist/American ex-pat, Rio de Janeiro; Renee Kohanski, M.D., forensic psychiatrist/podcaster, Somerset, NJ; Matthew B. Harrison, Esq., associate publisher, TALKERS/law professor, Springfield, MA. The show airs weekends (Friday evenings to Sunday nights) on 100-plus broadcast signals and networks across the U.S. and U.K as well as having developed a significant international following as a podcast. To listen to this week’s episode, please click here. To view the latest TALKERS topic research, please click here.

iHeartMedia Q3 Revenue Up 7%. Reporting its financial data for the third quarter of 2022, iHeartMedia says revenue was $989 million, an increase of 7% over the same quarter a year ago. The company is also posting an operating loss of $211 million for the third quarter of 2022 compared to the operating income of $80 million it reported for Q3 of 2021. Additionally, iHeartMedia reports a net loss of almost $310 million compared to the net income of $3.6 million it posted in the third quarter of 2021. iHeartMedia breaks its operations into three segments. Third quarter results for those segments are as follows: the Multiplatform Group that includes its radio stations and program networks was basically flat with a revenue increase of 0.1% “as a result of increased political advertising revenue as 2022 is a midterm election year, partially offset by a decrease in revenue due to a more challenging macroeconomic environment. Broadcast revenue grew $2.1 million, or 0.4% year-over-year, driven by higher political advertising revenue and an increase in trade and barter revenue, partially offset by lower spot revenue, while Networks declined $(0.7) million, or 0.5% year-over-year.” The Digital Audio Group was up 23.4% on revenue of $254 million. This group’s revenue increased by $48.2 million compared to the prior year, “including growth from Digital, excluding Podcast revenue, which grew $21.1 million to $162.7 million, driven by increased demand for digital advertising as well as Podcast revenue which increased by $27.1 million to $91.3 million, driven by higher revenues from the development of new podcasts as well as growth from existing podcasts. Digital Audio Group revenue increased as a result of general increased demand for digital advertising and the growing popularity of podcasting.” And the Audio & Media Services Group was up 17.7% on revenue of $77.8 million. Chairman and CEO Bob Pittman says, “We’re pleased to report another quarter of solid operating results for iHeart, and our performance in the midst of the current climate of economic uncertainty is a strong indication of the successful transformation this company has undergone in which our high-growth digital revenues comprises 26% of total company revenues. Our Digital Audio Group continues to deliver industry-leading growth, and our Multiplatform Group has again demonstrated its resiliency during a difficult economic environment. We believe the strong positions of both of these groups with both consumers and advertisers give us the ability to both navigate through this period of economic uncertainty and position us for continued growth through the recovery and beyond.”

Salem Media Group Total Revenue Rises 1.3%. The company reports that its total revenue for the third quarter of 2022 was $66.9 million, an increase of 1.3% over the same period in 2021. Salem Media Group also reports an operating loss of $8.8 million compared to operating income of $15.8 million in Q3 of 2021, and a net loss of $11.9 million compared to the net income of $22.1 million is reported during the same period in 2021. Salem presents its financial data in three segments. The Broadcast segment reports revenue of $51.1 million, an increase of 3.1% over Q3 of 2021, Digital Media revenue was $10.2 million, down 4.3% from the third quarter of 2021, and Publishing revenue was $5.5 million, a decrease of 3.7% from the same period a year ago.

Round Four of October PPMs Released. The fourth and final round of ratings data from Nielsen Audio’s October 2022 PPM survey has been released for 12 markets including Austin, Raleigh, Indianapolis, Milwaukee, Nashville, Providence, Norfolk, Jacksonville, West Palm Beach, Greensboro, Memphis, and Hartford. Nielsen’s October 2022 sweep covered September 15 – October 12. Today, TALKERS magazine managing editor Mike Kinosian presents his Ratings Takeaways from this group of markets. In the Raleigh market, iHeartMedia’s news/talk WTKK-FM tacks on three-tenths to wrap the survey with a 9.1 share that puts it in the #1 spot, while Curtis Media Group’s news/talk WPTF sheds one-tenth for a 1.8 share finish to remain ranked #15. The top dogs in Milwaukee flip as iHeartMedia’s news/talk WISN adds a full share for a 10.6 share finish that lifts it from #2 to #1, while Good Karma Brands’ WTMJ loses 1.9 shares for an 8.1 share finish that drops it from #1 to #4. Cumulus Media’s news/talk WPRO-AM/WEAN-FM, Providence adds on nine-tenths for wrap the survey with a 6.4 share that lifts it from #6 to #5. And in Jacksonville, Cox Media Group’s WOKV-FM is up one-tenth to a 7.9 share good for the #3 rank in the market. You can see Mike Kinosian’s complete Ratings Takeaways from this group of markets (as well as the previous three groups) here.

Comrex Unveils New BRIC-Link III Audio Codec. The company officially unveils BRIC-Link III – the newest addition to its popular BRIC-Link family of codecs. Comrex says there are more than 10,000 BRIC-Link codecs circulating world-wide, and BRIC-Link III is an updated version that takes advantage of the latest improvements in IP audio transmission technology. BRIC-Link III is a true codec, offering a full-duplex stereo encoder and decoder in each box. A jitter buffer manager is incorporated that automatically balances delay and stability, dynamically increasing and decreasing delay based on network performance. BRIC-link III offers a wide range of encoding algorithms including stereo and mono linear mode, FLAC modes, AAC/HE-AAC modes, Opus, G.722 and G.711. BRIC-Link III features a new, more powerful processor for improved reliability. It also features enhanced front panel indicators, including four buttons which will trigger contact closures by default and configurable for auto-connections to other Comrex IP audio codecs. BRIC-Link III is compatible with all other Comrex IP audio codecs, including the ACCESS codec line as well as older BRIC-Link models. BRIC-Link III also works with Gagl, a new service now available for purchase for audio contribution. Gagl turns any Comrex IP audio codec into a hub for up to five remote participants. Like other BRIC-Link codecs, BRIC-Link III includes CrossLock VPN technology, Comrex’s proprietary suite of reliability tools. In addition to bonding technology, CrossLock also includes a Redundancy Mode for mission-critical applications. BRIC-Link III can take advantage of HotSwap, meaning that users can set a 4G/5G modem as a backup connection to only be engaged when the primary internet fails, providing an extra layer of reliability. Customers can also choose to purchase an optional one-time license per codec to utilize SwitchBoard, a private server that Comrex maintains which allows for easy connections between IP codecs. You can get more information on this and other Comrex products here.

GAB Radio Talent Institute Returns to University of Georgia. The RAB’s National Radio Talent System announces the return of the GAB Radio Talent Institute at the Grady School of Journalism at the University of Georgia. The institute takes place in person May 15 – 24, 2023 thanks to sponsorship from The Georgia Association of Broadcasters. The talent incubator spans 10 days and is led by broadcast professionals that bring their real-world industry knowledge from around the state and country to educate students. RAB says that college students from universities throughout the state and region apply to be accepted into the GAB Radio Talent Institute. This provides an ideal networking pool for the students and a wide variety of potential interests within the classroom for industry professionals to identify and actively recruit from. Upon completion of the Institute, students can further their networking capabilities with the ability to access the National Radio Talent System’s Career Center. RAB president and CEO Erica Farber states, “We are delighted to have the GAB Radio Talent Institute make its return after a three-year hiatus due to the pandemic. Collaborating with Bob Houghton and the Georgia Association of Broadcasters enables us to bring this world-class program to life in the southeast and further develop the next generation of broadcasters.”

TALKERS News Notes. Inside Towers’ Leslie Stimson writes an interesting piece about the FCC’s creation of a Space Bureau. Stimson writes that FCC Chairwoman Jessica Rosenworcel announced the move at the Satellite Industry Association meeting yesterday (11/3). “She said the growth of satellite broadband internet plays a big part in why the agency is making the move. ‘Ninety-eight percent of all satellite launches in 2021 were deployed into low-earth orbit to provide internet connectivity back here on Earth. They can help advance the FCC’s goals to connect everyone, everywhere,’ Rosenworcel said. ‘More than that, the success of these low-earth orbit communications satellites could be seen as an early litmus test for the broader commercialization of space.’” Read Stimson’s entire piece here…..Three Hillsdale College students have won national College Broadcasters, Inc. awards for their work with “Radio Free Hillsdale 101.7 FM.” The awards were announced at the National Student Electronic Media Convention in Baltimore. Sophomore Lauren Smyth placed first in Best Newscast or Sportscast category for “Lauren Smyth News,” senior Josh Barker placed third in Best Hard News Reporting for his feature “The Policy Corner: Michigan Voting Laws,” and Rachel Kookogey (class of ’22) received both first and second place for two segments of her feature, “Sports Story Time.” WRFH general manager Scot Bertram says, “I’m very proud of our students for their well-deserved wins. It is great to see our students being recognized on the national level for their continued hard work and dedication.”…..SiriusXM announces its play-by-play coverage of the 2022-23 college basketball season that begins Monday (11/7). The opening night schedule features 24 teams from the men’s Associated Press Top 25, including defending national champion and #5-ranked Kansas facing Omaha and top-ranked North Carolina, coming off their 12th National Championship appearance, hosting UNC Wilmington…..Host Bethenny Frankel, the most successful business mogul to emerge from “The Real Housewives” franchise, and iHeartPodcasts launch a first-of-its-kind rewatch podcast titled, “ReWives.” Frankel, formerly of Bravo’s “The Real Housewives of New York,” breaks down the franchise that launched her career. In each episode, she’s “joined by unexpected celebrity guests ranging from superfans to Housewives newbies for hilarious conversations and surprising insight on real topics.” “ReWives” premieres on November 14 with Elisabeth Moss as Frankel’s first guest. New episodes will post each Monday with additional guests including Jerry Springer, Suze Orman, Kevin Nealon, Dave Portnoy, Griffin Johnson and more.

Broadcaster Raising Awareness of Need for Organ Donors. Western Massachusetts broadcaster and public relations pro Mark Auerbach (pictured) is revealing his battle with kidney disease in an effort to raise awareness of the need for organ donors. Auerbach hosts “ArtsBeat,” “On The Mark” and “Athenaeum Spotlight” on WCPC15 and 89.5fm/WSKB. He’s also the ArtsBeat reporter for Pioneer Valley Radio. On today’s program that you can see here, Auerbach reveals his battle with Stage 5 kidney disease and the need for donors. Auerbach says people can help by taking any of three steps: 1) becoming an organ donor upon your death; 2) consider donating while you’re alive (get details at kidney.org); and 3) donating to him at Mass General Hospital’s living donors program (https://mghlivingdonors.org/).

Politics and Midterms Top News/Talk Story for Week of October 31 – November 4. The politics leading up to Tuesday’s midterm elections were the most-talked-about story on news/talk radio, landing atop the Talkers TenTM. At #2 this week was the economy combined with the Fed’s rate hike, followed by the aftermath of the Pelosi home invasion at #3. The Talkers TenTM is a weekly chart of the top stories and people discussed on news/talk radio during the week and is the result of ongoing research from TALKERS magazine. It is published every Friday at Talkers.com. See this week’s complete chart here.

Front Page News Industry News

Thursday, November 3, 2022

By Editor | by Editor

Urban One Net Revenue Up 8.9% in Q3 of 2022. The company issues its third quarter 2022 financial data and reports net revenue of approximately $121.4 million, an increase of 8.9% from the same period in 2021. Urban One reports net income of approximately $4.2 million compared to the net income of $13.9 million it reported in the third quarter of 2021. The company says broadcast and digital operating income was approximately $50.8 million, an increase of 3.5% over the same period in 2021. Urban One CEO and president Alfred C. Liggins, III says, “Q3 was another very solid quarter, during which we grew both revenues and Adjusted EBITDA. Following a soft July for radio advertising, August and September rebounded and we finished the quarter +1.4% on a same station basis, and -1.3% excluding political. Same station radio pacings for Q4 excluding digital are currently +16.0% including political and +0.1% excluding political. Layering in the recent Indianapolis acquisition should push radio revenues to a double-digit percentage increase for Q4. Political spending has steadily gathered momentum, and we anticipate net political advertising revenues to be between $12-$13 million, of which radio is $9-$10 million, which is significantly ahead of both our budget and the 2018 cycle. Our cable TV business had another successful broadcast upfront season, and we were able to increase both our CPM’s and total dollars committed. Our Digital segment posted growth of approximately 40% in both revenue and Adjusted EBITDA as demand for our audience and digital products remained strong. Our liquidity and leverage profile remained robust, and we continued to opportunistically repurchase our 7.375% bonds in the open market.”

Saga Communications’ Third Quarter 2022 Net Revenue Rises 3.9%. Third quarter 2022 financial results for Saga Communications, Inc. reveal net revenue of $30 million – and increase of 3.9% over the same period in 2021. Station operating expense increased 2.8% for the quarter to $22.3 million compared to the same period last year. For Q3 of this year, station operating income increased 4.1% to $8.9 million, and operating income was $1.1 million compared to $4.6 million for the same quarter last year. Free cash flow was $1.6 million for the quarter compared to $4.0 million for the same period last year. Saga reports a net loss of $104,000 for the quarter compared to net income of $3.5 million for the third quarter last year. The company says, “Despite strong underlying performance the results were impacted by one-time payments related to the passing of our founder Ed Christian. As a result, the company is required to make several payments to his estate as outlined in his employment agreement. These expenses were accrued as of September 30, 2022 increasing the reported corporate general and administrative expense line item by $3.8 million for both the quarter and nine-month period ended September 30, 2022. Without these expenses operating income would have increased 5.8% to $4.9 million, free cash flow would have increased 36.5% to $5.4 million and net income would have increased 7.9% to $3.7 million.” Saga’s balance sheet reflects $58.3 million in cash and short-term investments as of September 30, 2022 and $45.3 million as of October 31, 2022.

Round Three of October PPMs Released. The third of four rounds of ratings data from Nielsen Audio’s October 2022 PPM survey has been released for 12 markets including Portland, Charlotte, San Antonio Sacramento, Pittsburgh, Salt Lake City, Las Vegas, Orlando, Cincinnati, Cleveland, Kansas City, and Columbus. Nielsen’s October 2022 sweep covered September 15 – October 12. Today, TALKERS magazine managing editor Mike Kinosian presents his Ratings Takeaways from this group of markets. In Portland, Alpha Media’s news/talk KXL-FM drops 1.1 shares to finish with a 7.3 share (6+, weekly AQH share) but remains ranked #4 in the market, while iHeartMedia’s crosstown news/talk KEX adds four-tenths to wrap the survey with a 3.9 share that lifts it to the #9 rank. iHeartMedia’s news/talk WOAI, San Antonio stays ranked #10 after dipping three-tenths for a 3.6 share, while Alpha Media’s crosstown news/talk KTSA sheds one-tenth for a 3.3 share finish and falls to the #12 rank in the market. In Salt Lake City, iHeartMedia’s news/talk KNRS-AM/FM puts up seven-tenths for a 12.3 share that cements its #1 rank as Bonneville’s crosstown news/talk KSL-AM/FM adds six-tenths for a 7.3 share finish that puts it in the #2 slot. You can see Mike Kinosian’s complete Ratings Takeaways from this group of markets (as well as the first two rounds) here.

Andrew Colton to Host Mornings on WIOD, Miami. Taking over for longtime South Florida broadcasting legend Jimmy Cefalo on January 9, 2023 as host of the morning program on iHeartMedia’s WIOD “NewsRadio 610 AM” is Andrew Colton. He comes to iHeartMedia from his most recent work as CEO of Colton Legal Media Worldwide. He’s also been an award-winning national correspondent for ABC News, CBS Newspath, and hosted the nationally syndicated “Wall Street Journal This Morning” program. Cefalo will continue to provide commentary on WIOD as well as his role as play-by-play announcer for the Miami Dolphins. “South Florida First News with Andrew Colton” will include veteran news anchor Nathalie Rodriguez, William Althoff with more news and sports, Doug Lindsay with traffic and the Weather Channel’s Ray Stagich. Vice president of news and AM programming Florida Region and iHeartMedia NTS brand coordinator Grace Blazer says, “Jimmy and Andrew both share a passion for news, information, commonsense, and our South Florida lifestyle. We are excited and fortunate to have Andrew Colton continue WIOD’s spoken-word tradition and digital expansion.”

Philadelphia Sports Radio Broadcasters Honored with Hall of Fame Inductions. Two Audacy Philadelphia sports radio personalities are being recognized for their contributions to the Philadelphia sports media landscape. Longtime WIP radio host Howard Eskin is being inducted into the Philadelphia Sports Hall of Fame on November 3. Eskin says, “It’s an honor to be selected and to be in such great company – really overwhelming. They say do what you love and you’ll never work a day in your life. As hard as I work, I have to admit, it is a labor of love.” Al Morganti, co-host of WIP’s morning show, is being honored by the Hockey Hall of Fame and will receive the Elmer Ferguson Memorial Award for excellence in hockey journalism. Morganti comments, “It’s the honor of a lifetime to be inducted in the Hockey Hall of Fame, and a huge part of any success I have had is because of the fans of Philadelphia. Having been on WIP for so many years and working at the Philadelphia Inquirer, I can attest that the emotional investment Philadelphia fans make to their teams makes everyone raise their game. Thank you!”

TALKERS News Notes. Legendary college basketball coach Mike Krzyzewski and SiriusXM ink a multi-year agreement for Krzyzewski to continue hosting his exclusive weekly SiriusXM show, “Basketball and Beyond with Coach K.” Krzyzewski has been hosting the show since 2005 and today (11/3) the first episode of the show’s 18th season drops. Krzyzewski says, “This will be the first fall in nearly 50 years that I’m not on the sidelines, and I’m so pleased to extend my long relationship with SiriusXM and continue hosting ‘Basketball and Beyond.’ Having the creative freedom to do a really unique show has been incredibly important and rewarding to me. I can be a part of the national conversation on basketball, while also exploring interesting topics with a variety of guests who make an impact far beyond the basketball court.”…..Red Apple Audio Networks announces it is signing 17 stations to its affiliate roster, including 11 Saga Communications stations. The newly added stations are carrying shows hosted by Larry Kudlow, Rudy Giuliani, and Judge Jeanine Pirro, as well as Frank Morano, host of “The Other Side of Midnight.”…..Compass Media Networks partners with Wisebuddah and its sister company imager – European providers of sonic branding, radio imaging and jingles. The London-based companies currently curate the sound of BBC Radio 1, BBC Radio 2, Bauer Media and Virgin Radio alongside dozens of radio stations (iHeartMedia, Alpha Media Group) in the United States.

Midterms/Trump in 2024, The Economy/Fed Rate Hike, Elon Musk’s Twitter, Russia-Ukraine War, and Pelosi Attack Aftermath Among Top News/Talk Stories Yesterday (11/2). The campaigning ahead of the November 8 midterm elections and expectations that former President Donald Trump will announce his 2024 presidential campaign shortly thereafter; the state of the U.S. economy and the Fed’s decision to hike interest rates again; the spate of celebs claiming they are leaving Twitter as a result of Elon Musk’s taking ownership of the social media platform; Russia’s war on Ukraine and its relationship with Iran, North Korea and China; and the conspiracy theories surrounding the attack on Paul Pelosi 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

Friday, October 28, 2022

By Editor | by Editor

NOW POSTED: This Weekend’s Installment of “The Michael Harrison Wrap: An Overview of the National Conversation.” The latest installment of the one-hour weekend special, “The Michael Harrison Wrap,” that looks back each week at the hottest topics discussed in American talk media per the research of TALKERS, is now posted. This new episode titled, “The Bird is Caged,” looks back at this past week of 10/24-10/28. The program features guests (in order of appearance): Kevin Casey, executive editor, TALKERS; Dom Giordano, talk show host, WPHT, Philadelphia; Mark Davis, talk show host, KSKY, “660 AM The Answer,” Dallas/Fort Worth; Holland Cooke, media consultant/author; Daliah Wachs, M.D., talk show host, Genesis Communications Network/physician; and Brad Shepard, talk show host, Pioneer Valley Radio, Springfield, MA.  The show airs weekends (Friday evenings to Sunday nights) on 100-plus broadcast signals and networks across the U.S. and U.K as well as having developed a significant international following as a podcast. To listen to this week’s episode, please click here. To view the latest TALKERS topic research, please click here.

Cumulus Net Revenue Declines 1.8% in Third Quarter. Reporting its financial data for the third quarter of 2022 – as well as the first nine months of 2022 – Cumulus Media reveals that net revenue was $233.5 million in Q1, a decrease of 1.8% over the same period in 2021. For the first nine months of this year, the company reports net income of $16.3 million compared to the loss of $360,000 it reported for the first nine months of 2021. Cumulus breaks out its revenue into segments and the total broadcast radio revenue for Q3 of 2022 was $177 million, down 4.7% from the same period in 2021. While spot revenue was $124.8 million – up 2.3%, network revenue was $52.3 million, down 18.2%.  Digital revenue was $34.9 million, an increase of 4.7% over the third quarter of 2021. Cumulus president and CEO Mary G. Berner states, “Notwithstanding a difficult macro environment, consistent execution of our strategic plan has put us in an enviable financial position to effectively navigate through the continuing headwinds. Our solid Q3 results reflect that execution – although total revenue declined, driven by weakness in national advertising channels, digital revenue continued to grow, and we increased profitability as well. We also generated $24 million of cash from operations, repurchased $3.9 million of shares, opportunistically retired $2.8 million of senior notes at a discount and finished the quarter with net leverage of 3.7x, the lowest it’s been in more than a decade. Looking ahead, we will continue to rigorously implement our plan, which includes: furthering our multi-platform evolution; supporting growth of multiple, profitable digital businesses; reducing our fixed cost base; investing in high-ROI internal initiatives; maintaining a disciplined approach to M&A, including enhancing cash generation from non-core asset monetization; bolstering liquidity; reducing net leverage; and optimizing a multi-pronged capital allocation strategy. Given our track record, we continue to have strong confidence in our ability, under this plan, to grow shareholder value even in the incrementally challenging macro environment.”

Beasley Names Ron deCastro Market Manager for Tampa. Radio sales and management pro Ron deCastro joins Beasley Media Group as market manager for the company’s Tampa station group that includes business news WHFS-AM “Money Talk 1010 AM” and five music brands. DeCastro was most recently market president and chief revenue officer at WQHT-FM and WBLS-FM in New York. He says, “I’ve spent a significant amount of my career leading some of the most iconic brands in America and I am excited to join the team at Beasley and help continue grow these fantastic brands.” Beasley EVP and COO Brian Beasley says, “We are happy to welcome Ron into the Beasley Media Group family. His vast experience, valuable insight and proven leadership made him the perfect choice to lead and grow our Tampa/St. Pete-based radio properties.”

NPR and Edison Research Unveil Results of Spoken Word Audio Report. The latest Spoken Word Audio Report from NPR and Edison Research concludes that “almost half (46%) of the U.S. population listens to spoken word audio content daily.” This is the fourth version of this study that “explores the ways spoken word media consumption in the U.S. has increased over time, including the number of listeners, and how long they listen.” This year’s study includes a special focus on how younger demographics are increasingly more interested in the medium, and reveals a 214% increase in listening to spoken word audio among those age 13-24. Key findings include: 1) There are an estimated 26 million more people listening to spoken word audio in the U.S. than eight years ago. An estimated 131 million people in the U.S. age 13+ are daily spoken word audio listeners, up from 105 million daily listeners in 2014; 2) Spoken word’s share of all audio is increasing among all listeners. Listeners age 13+ spend 29% of their total audio time with spoken word content, up from 20% in 2014, a 45% increase; 3) Listeners age 13-24 show the most explosive growth with share of spoken word audio. That Gen Z segment spends 22% of their time with spoken word audio, compared with those age 13-24 in 2014 who spent only 7% of their time with spoken word audio, a 214% increase for this age group; and 4) For the first time ever, daily spoken word audio listeners spend a majority of their audio time with spoken word. Those who listen to spoken word audio daily spend 51% of their total daily audio time with spoken word. You can see the report here.

TALKERS News Notes. Just in time for the 2022 Major League Baseball World Series between the Philadelphia Phillies and the Houston Astros, Audacy drops the new national daily podcast, “Baseball Isn’t Boring,” hosted by longtime baseball columnist, author and WEEI-FM, Boston broadcaster Rob Bradford. The podcast is a project born from the “Baseball Isn’t Boring” campaign instituted by Bradford and major league pitcher Joe Kelly. Kelly and Bradford have also co-authored the soon-to-be-released book, A Damn Near Perfect Game: Reclaiming America’s Pastime. Bradford says, “As we wrap up what has been a very ‘un-boring’ postseason, we’re thrilled to launch this fun new daily podcast to rally behind the great sport of baseball – America’s national pastime. I look forward to speaking with some of the biggest names in sports to prove that baseball is alive and thriving.”…..CNN Audio premieres the new eight-episode, limited-series podcast, “The James Brown Mystery,” that investigates the suspicious death of the legendary musician and questions if he was murdered. The investigation began after CNN reporter Thomas Lake received a phone call from a woman who said she was in James Brown’s inner circle almost 40 years ago and the relationship nearly destroyed her career. Decades later, she’s trying to solve the mystery of Brown’s death. When she makes the call to Lake, “the two stumble into a world of secrets, intimidation, and suspected foul play.” “The James Brown Mystery” is the first podcast hosted and reported by Thomas Lake, who in 2019 published his exclusive CNN investigative series, “Lost in the Woods with James Brown’s Ghost,” exploring unanswered questions around the singer’s death and the many people still calling for an autopsy and criminal investigation. “The James Brown Mystery” expands upon Lake’s reporting and covers Brown’s complicated past, the mysterious death of his third wife, and the biggest questions surrounding his demise…..WDAS-AM/W273DO, Philadelphia “FOX Sports Radio, The Gambler” sports show “The Divide Live” – hosted by Mike, a diehard Mets fan and Corey, a diehard Yankees fan – are broadcasting a one-hour special recorded live from the Toms River Field of Dreams Comedy Night Benefit last weekend (10/22). The special broadcast will include interviews with former MLB third baseman Todd Frazier for his take on the Mets, Yankees, “retirement” and life after the MLB; mixed martial artist Frankie Edgar who breaks down what it’s like to prepare for his final UFC fight at Madison Square Garden; and WFAN, New York afternoon drive star Craig Carton talking career, giving back, life’s successes and unfortunate failures. It airs tonight at 9:00 pm ET…..Edison Research, provider of Edison Podcast Metrics, announces it has developed a complementary service to count downloads for participating publishers. After months of research, Edison is utilizing a new method for determining U.S. downloads that does not employ a redirect nor involve delivery of log files. Edison president Larry Rosen says, “We have developed an elegant new solution that will enhance our unique Edison Podcast Metrics survey. While our survey of 20,000 podcast listeners each year provides the most complete look at the totality of actual listening to podcasts, download data will provide deeper information to subscribers, especially for smaller and short-run shows.”

KTSA, San Antonio Helps Raise Almost $170,000 for Thanksgiving Dinner for Those in Need. San Antonio news/talk KTSA helped raise a record $163,893, during the annual Raul Jimenez Thanksgiving Dinner radiothon Friday, October 21. Funds raised will go to feed more than 25,000 seniors and needy people on Thanksgiving Day. The Alpha Media news/talk says the Raul Jimenez Thanksgiving Dinner is the largest dinner of its kind in the country. Pictured above (l-r) are KTSA talk hosts Sean Rima, Jack Riccardi, and Trey Ware with a staffer from the Raul Jiminez Thanksgiving Dinner charity.

WCRS, Greenwood, South Carolina Owner Honored for Station’s Service. Pictured above is broadcaster and WCRS, Greenwood, South Carolina owner Anne Eller (left) receiving a proclamation by Charles Moates (right), chair of the Greenwood County Council, in honor of the station’s 81 years of service and Eller’s service to the community. Speaking to The Index-Journal about her work as an independent broadcaster, Eller says, “Each day gives me the chance to connect with my listeners through delivery via traditional radio, livestreaming on the Internet, podcasts on our website and promotions via social media. Radio is as relevant in the business of communications as ever before – maybe more so. I am proud of the honors my station and I have received recently, and I look forward to many more great years as a broadcaster,” Photo by Damian Dominguez, The Index-Journal

Politics and Midterm Elections Tie as Top News/Talk Stories for Week of October 24-28. The debates ahead of the November midterm elections and the politics surrounding them came together as the most-talked-about story on news/talk radio this week, landing atop the Talkers TenTM. At #2 this week was the state of the economy, including inflation and threats of a recession, followed by former President Donald Trump’s legal issues at #3. The Talkers TenTM is a weekly chart of the top stories and people discussed on news/talk radio during the week and is the result of ongoing research from TALKERS magazine. It is published every Friday at Talkers.com. See this week’s complete chart here.

Front Page News Industry News

Wednesday, August 10, 2022

By Editor | by Editor

Urban One Second Quarter Net Revenue Rises 10.4%. Reporting financial data for the second quarter of 2022, Urban One – parent company of Radio One – reveals net revenue of $118.8 million, an increase of 10.4 percent over the same period in 2021. Consolidated net income for Q2 of 2022 was $15.8 million, a decline of 14.4% from the same period in 2021. Urban One reports financial data for six separate segments including Radio Advertising ($44.5 million, up 4.5%), Digital Advertising ($17.8 million, up 19.1%), and Event Revenue ($1.1 million, up 2.3%). Urban One CEO and president Alfred Liggins III says, “We had a strong finish to Q2, driven by continued robust growth in digital and cable television advertising, both of which were up double digits. Our spot radio business outperformed the markets in which we operate by 230 Bps, and I was pleased with our overall 10.4% revenue growth, as a result of which we were able to post adjusted EBITDA growth of 6.1% y-o-y. Like other media businesses, we have experienced a slow-down in Q3, particularly in core radio which is currently pacing down low-to-mid single-digits. Given our diversified mix of assets, I still anticipate consolidated net revenues to grow in Q3, and we remain well positioned for political advertising later in the year. We will continue to be disciplined with capital allocation decisions and our cash position remains strong. We finished the quarter with net leverage below 4.0x, in line with our goal to continue to reduce leverage over time.”

Round Two of July PPMs Released. The second of four rounds of ratings data from Nielsen Audio’s July 2022 PPM survey has been released for 12 markets including: Washington, Boston, Miami, Seattle, Detroit, Phoenix, Minneapolis, San Diego, Tampa, Denver, Baltimore, and St. Louis. Nielsen’s July 2022 sweep covered June 23 – July 20. Today, TALKERS magazine managing editor Mike Kinosian presents his Ratings Takeaways from this group of markets. In Washington, DC, Hubbard Radio’s all-news WTOP-FM adds six-tenths for a 7.4 share (weekly, 6+ AHQ share) finish but still falls back to the #8 rank, while Cumulus Media’s news/talk WMAL-FM is flat at a 4.1 share and recedes to the #8 rank. Bonneville’s news/talk KIRO-FM remains in first place in Seattle even after dropping six-tenths for a 6.7 share finish, while Lotus Communications’ crosstown all-news KNWN-AM/FM dips two-tenths to finish with a 3.1 share but stays locked in the #14 spot. In Minneapolis-St. Paul, Audacy’s news/talk WCCO adds three-tenths for a 4.4 share finish that boosts it to the #10 rank. Across town, Hubbard’s talk KTMY-FM falls two-tenths for a 3.3 share finish but stays ranked #13, while iHeartMedia’s news/talk KTLK-AM adds three-tenths to wrap with a 3.2 share good for the #14 rank. Hearst Television’s news/talk WBAL-AM leaps to the #10 rank after a 1.1 share increase gives it a 3.4 share finish as WCBM Maryland’s news/talk WCBM-AM sheds half a share for a 2.0 share finish good for the #15 rank. You can see Mike Kinosian’s complete Ratings Takeaways from this group of markets (as well as yesterday’s round one) here.

Premiere Networks Talk Hosts Front and Center at CPAC 2022. Pictured above (from l-r) at last weekend’s CPAC 2022 conference in Dallas are Premiere Networks talk radio hosts Sean Hannity, Glenn Beck, and Jesse Kelly. Hannity’s address to the attendees covered election integrity, the upcoming midterm elections, the importance of conservative principles and more. Shortly before former President Donald Trump closed out the convention with his keynote address, Glenn Beck took to the stage with a presentation titled, “American History: What You Don’t Know,” and Jesse Kelly entertained the crowd with a satirical skit in which he posed as a news anchor covering the latest headlines at a faux network.

‘ESPN Chicago’ to Present Inaugural ‘Football Fest.’ Sports talk outlet WMVP, Chicago “ESPN 1000” is presenting its first-ever “ESPN Chicago Football Fest” that will bring together the station’s personalities and special guests ESPN senior NFL Insider Adam Schefter and ESPN Fantasy Football expert Field Yates at the Hard Rock Casino Northern Indiana on Saturday, August 20. Local personalities Tom Waddle, Marc Silverman, David Kaplan, Carmen DeFalco, Peggy Kusinski, Dionne Miller, Jonathan Hood, Chris Bleck, Adam Abdalla, and Jeff Meller will be at the event. Danny Zederman is content director for the Good Karma Brands station. He says, “Football Fest will be an amazing opportunity for ‘ESPN 1000’ fans to connect with our content team to kick off the 2022-2023 football season. Peggy and Dionne will be broadcasting live from the event, giving fans a front row seat to one of the station’s newest duos.”

Comscore Q2 2022 Net Revenue Up 4.3%. The second quarter financial report from digital media firm Comscore states net revenue for the period was $91.4 million, an increase of 4.3% over Q2 of 2021. The company reduced its net loss from Q2 2021 to Q2 2022 from $18.5 million to $5.1 million. Comscore CEO Jon Carpenter states, “I was honored to step into the CEO role in July and remain excited about the opportunity ahead for Comscore. This is a critical time for the industry, and we are committed and focused on delivering innovative products and solutions that our customers want and driving the growth and profitability our shareholders expect. The quarter highlights the momentum in our business, particularly in Cross Platform Solutions, which includes our growing local and national television businesses. While there is still work to be done, I am excited and energized about the opportunity ahead.”

TALKERS News Notes. Urban radio personality Angela Yee is leaving the WWPR, New York-based morning show “The Breakfast Club” after 12 years to launch her own midday program titled, “Way Up with Angela Yee” that will be syndicated via Premiere Networks. It will launch this fall and debut on more than 30 iHeartMedia stations. The company says the show “will feature the iconic personality in a fast-paced, listener interactive show, as she connects directly with listeners on the kinds of hot and timely topics in which she’s garnered trust over her decades on air – from relationships to Hip-Hop and R&B, headline news topics, and overall culture, both in and out of the music industry.”…..Audacy-owned podcast company C13Originals is partnering with Team Downey and Wink Pictures for “The Sunshine Place,” an investigative documentary podcast series examining Synanon, a former California-based experimental drug rehab facility and community that morphed into a dangerous and violent cult, led by its messianic founder Charles E. Diedrich. Cadence13 chief content officer Chris Corcoran states, “This is a story we were immediately drawn to and wanted to tell. It’s an honor to be able to tell incredible stories like this with such a great team in Susan, Robert, Emily, and Josh in collaboration with our brilliant C13Orginals creative team.”…..American Public Media Group announces that Barry Gisser is the organization’s new senior vice president and chief financial officer, succeeding Morris Goodwin who after eight years significantly increased the value of APMG’s endowment and led its investment strategy. Gisser’s first day at APMG will be September 6.

FBI Raids Mar-a-Lago/NYC Deposition, Primaries/2024 Race, The Economy, Biden Health & Climate Bill, China’s Taiwan Threats, Russia-Ukraine War, and Serena Williams Announces Retirement Among Top News/Talk Stories Yesterday (8/9). The FBI’s raid on former President Donald Trump’s Mar-a-Lago offices and his scheduled deposition by New York AG Letitia James; Tuesday’s primary races for the November midterms and speculation about the nominees for the 2024 presidential race; the high rate of inflation and concerns about a recession; the Inflation Reduction Act that affects health care, taxes, and climate incentives; China’s ramped-up military exercises around Taiwan; Russia’s ongoing invasion of Ukraine; and tennis great Serena Williams announces her plans to retire from the sport 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

Friday, August 5, 2022

By Editor | by Editor

NOW POSTED: This Weekend’s Installment of “The Michael Harrison Wrap: An Overview of the National Conversation.” The latest installment of the one-hour weekend special, “The Michael Harrison Wrap,” that looks back each week at the hottest topics discussed in American talk media per the research of TALKERS, is now posted. This new episode titled, “Mixed Messages,” looks back at this past week of 8/1 to 8/5. The program features guests (in order of appearance): Kevin Casey, executive editor, TALKERS; Harry Hurley, talk show host, WPG, Atlantic City; Jack Heath, talk show host, The Pulse of NH, New Hampshire; Richard Neer, talk show host, WFAN, New York; and Greta Van Susteren, talk show host, Newsmax TV. The show airs weekends (Friday evenings to Sunday nights) on almost 100 broadcast signals and networks across the U.S. and U.K as well as having developed a significant international following as a podcast. To listen to this week’s episode, please click here. To view the latest TALKERS topic research, please click here. “The Michael Harrison Wrap” is available in syndication via Talk Media Network to stations across America on a market exclusive basis. For affiliation information, please click here or call 616-884-8616.

iHeartMedia Q2 2022 Revenue Up 10.7%. The company reports that its 2022 second quarter consolidated revenue was $954 million, an increase of 10.7% over the same period in 2021. For the quarter, iHeartMedia posted net income of $15.2 million compared with the net loss of $32 million it reported for Q2 of 2021. iHeartMedia reports financial data in three segments: the Multiplatform Group (broadcast, networks, and sponsorships & events), Digital Audio Group, and Audio & Media Services Group. The company says revenue from the Multiplatform Group increased $27.5 million, or 4.5% year-over-year, primarily as a result of the continued recovery from the impact of the COVID-19 pandemic. Broadcast revenue grew $12.2 million, or 2.7%, driven by higher spot revenue and political advertising revenue as 2022 is a midterm election year, partially offset by lower trade and barter revenue due to the impact of the timing of the iHeartRadio Music Awards show, while Networks grew $3.9 million, or 3.2%. Revenue from Sponsorship and Events increased by $9.5 million, or 33.2%, primarily as a result of the return of live events. Revenue from iHM’s Digital Audio Group increased $54.6 million, or 27.6% compared to the same period in 2021. Digital, excluding podcast revenue, grew $22.4 million, or 15.5%, driven by increased demand for digital advertising. Podcast revenue increased by $32.3 million, or 60.4%, driven by higher revenues from the development of new podcasts as well as growth from existing podcasts. iHeartMedia chairman and CEO Bob Pittman says, “We’re pleased to report another quarter of solid results for iHeart in terms of consumer usage, revenue and earnings growth and, most importantly, strong free cash flow generation. The Digital Audio Group continues to deliver industry-leading growth, and our Multiplatform Group continues to demonstrate that it is a growth engine for the company as well. As the #1 audio company in America across broadcast radio, digital radio and podcasting – and the largest consumer reach audio company in the U.S. by far, we remain committed to building our businesses for future growth and continuing to deliver both trusted companionship to our listeners and significant and unique value to our advertising partners.”

Audacy Q2 Net Revenue Rises 5%. Citing “declining macroeconomic conditions,” Audacy reports net revenue of $319.4 million, an increase of 5% over the same period in 2021. The company says that core spot revenue was $200.5 million – flat compared to the second quarter of 2021, and digital revenue was $69.3 million, up 19% compared to the second quarter of 2021. The company reports a net loss of $773,000 in Q2 of 2022 compared to the net income of $1.4 million it reported during the same period a year ago. Audacy breaks down its revenue by format categories and says that the news/talk category revenue (news/talk and all-news stations) was $51.8 million, an increase of 4.2% over the same period in 2021. Audacy president and CEO David Field comments, “After a very strong first quarter in which we grew revenues by 14% and significantly increased margin, our second quarter results were adversely impacted by declining macroeconomic conditions and ad market headwinds which reduced our top line growth to 5%. While we navigate the turbulent current market conditions, we are excited by our future growth potential across our scaled, multi-platform businesses, capitalizing on a number of important recent developments that include an enhanced national sales organization, expanded podcast and streaming audio networks, and during the second half of this year, the rollout of a new, reimagined digital platform and ad tech capabilities that will enable us to unlock pools of ad demand and supply that we can’t effectively monetize today. Our transformational development over the past couple of years has meaningfully enhanced our competitive position, strengthening our capacity to serve listeners and customers and enabling a powerful set of opportunities for revenue and EBITDA growth in the dynamically growing audio market.”

Audacy Gets Listing Standards Notice from NYSE. The company received notification from the New York Stock Exchange that its Class A common stock is not in compliance with the exchange’s continued listing standard requiring a minimum average closing price of $1.00 per share over 30 consecutive trading days. The notice does not result in the immediate delisting of the common stock from the NYSE. Audacy says it plans to notify the NYSE that it intends to regain compliance and is considering all available options that are in the best interests of the company and its shareholders. Audacy can regain compliance during a six-month cure period if, on the last trading day of any calendar month during the cure period, the common stock has a closing share price of at least $1.00 and an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month.

Salem Media Group Revenue Climbs 7.7% in Second Quarter of 2022. Reporting its financial data for the second quarter of 2022, Salem Media Group reveals total revenue of $68.7 million, an increase of 7.7% over the same period in 2021. The company also reports net income of $9.1 million, an increase of more than 300% from the net income of $2.25 million reported in the second quarter of 2021. Salem reports in three segments: Broadcast, Digital Media, and Publishing and for Q2 of 2022, net broadcast revenue increased 12.1% to $52.5 million. Digital Media revenue increased 4.5% to $10.8 million, while Publishing revenue decreased 18.5% to $5.4 million.

Saga Communications Second Quarter Net Revenue Up 6.3%. For the second quarter of 2022, Saga Communications, Inc posts net revenue of $29.8 million, an increase of 6.3% over the same period in 2021. Station operating income increased 10.6% to $9.3 million and operating income was $5.4 million compared to $4.6 million for the same quarter last year. Free cash flow was $3.2 million in Q2 of 2022 compared to $4.2 million for the same period last year. Capital expenditures for the quarter were $2.6 million compared to $921 thousand for the same period last year. Capital expenditures for the quarter included the $1.1 million purchase of a building in Norfolk, Virginia that will replace the company’s existing leased studio and office facility. Saga reports net income of $3.8 million for the second quarter of 2022 compared to net income of $3.3 million for the same period a year ago.

Audacy and CBS Sports Digital Patner for Content Distribution and Ad Sales. This exclusive, multi-year deal between Audacy and CBS Sports Digital makes Audacy the exclusive, ad sales and distribution partner for CBS Sports’ network of sports podcasts. The press release states that CBS Sports Digital has grown to reach more than 90 million monthly active users, making it the second-largest sports group in the U.S, and with more than 65 shows and nearly 100 million downloads in 2021. Audacy EVP of digital sales Ken Lagana says, “We are incredibly excited to be partnering with CBS Sports in the podcasting space – properties I know well from my time spent there. Adding this family of content to our roster provides Audacy with a number of the leading sports, fantasy sports and betting podcasts, areas we have enjoyed significant success to date and are important to our clients.  This partnership could not come at a better time with football season fast approaching.”

TALKERS News Notes. The John Fredericks Media Network announces a programming agreement for the newest member of its growing portfolio of radio stations as the network’s programming is now airing on Chesapeake-Portsmouth Broadcasting Corporation’s WTJZ-AM, Portsmouth, Virginia. JFMN chief operating officer Anne Fredericks says, “The Norfolk market is critical to our Virginia network as it represents the biggest U.S. naval base in the world at a very uncertain time for our nation’s Navy personnel. The uncertainty of potential hostility in the Asian perimeter and the South China sea makes this opportunity more important than ever. We will continue to provide all our listeners with extensive and in-depth coverage of China’s military and economic moves in the area, as well as top-flight analysis of the evolving events.”…..FOX Sports Radio’s LaVar Arrington announces an addition to his Up On Game Presents podcast lineup as musician, songwriter and creative director Flash Garments launches the “Under Appreciated with Flash Garments” show. Arrington says, “We’re super excited to have Flash Garments join the Up On Game Presents lineup with the launch of his ‘Under Appreciated’ podcast. Flash knows everybody, is very well respected, and has a lot to say! I think listeners will really enjoy this inspiring and enlightening program, and we look forward to sharing it with our audience every Friday!”…..WNRI, Woonsocket, Rhode Island talk host John DePetro has been filling in this week for WPHT, Philadelphia’s Dawn Stensland on her 10:00 am to 12:00 noon program…..The GCN-syndicated program “Classic Radio Theater with Wyatt Cox” adds new affiliate stations as KVOE-AM, Emporia, Kansas and KGEZ-AM, Kalispell, Montana adds the show to their program schedules. Cox comments, “I grew up on Sunnyslope Street in Emporia and listened to KVOE, enjoying some of the great music of the 60s and the fun personalities like the late Roger Hartsook. It’s a source of pride to be back in Emporia, if just virtually, every weekday.”

Video Tribute to Rich Stevens. The radio personality died on July 30 after suffering a heart attack. Rich Stevens enjoyed a career in music radio as well as in the talk radio format, hosting a program on Hubbard Radio’s WFTL, Fort Lauderdale. “Radio’s Best Friend” Art Vuolo put together a tribute video that you can see here.

The Economy Top News/Talk Story for Week of August 1-5. The state of the U.S. economy – the still-high cost of food and gasoline and the threat of a recession – was the most-talked-about story on news/talk radio this week, landing atop the Talkers TenTM. At #2 this week was a tie between partisan politics, the elections, and abortion rights, followed by House Speaker Nancy Pelosi’s trip to Taiwan tied with the related U.S.-China relations at #3. The Talkers TenTM is a weekly chart of the top stories and people discussed on news/talk radio during the week and is the result of ongoing research from TALKERS magazine. It is published every Friday at Talkers.com. See this week’s complete chart here.

Front Page News Industry News

Thursday, August 4, 2022

By Editor | by Editor

Richard Neer is This Week’s Guest on Harrison Podcast. Legendary WFAN, New York sports talk show host/rock radio pioneer Richard Neer and TALKERS founder Michael Harrison have been close friends and radio colleagues for more than half of the medium’s 100-year history. Needless to say, they always have plenty to talk about regarding media and popular culture – past, present, and future. Richard Neer is this week’s guest on the award-winning PodcastOne series, “The Michael Harrison Interview” marking his record-breaking seventh visit since the program debuted as one of the platform’s earliest offerings in 2015. In addition to his rich on-air history, Neer is the prolific author of 10 Riley King murder mystery novels and his historic overview of album rock radio, FM: The Rise and Fall of Rock Radio (Villard, 2001) remains a literary milestone chronicling the golden days of the AOR era. On this podcast, Harrison and Neer talk about a wide variety of topics including Joni Mitchell’s recent performance at the Newport Folk Festival, the high cost of Bruce Springsteen concert tickets, the controversial LIV Golf tour backed by Saudi Arabia, changes in the record business, the challenges of writing and publishing historical fiction, movies, TV, CGI and a whole lot more. To listen to the podcast in its entirety, please click here.

Cumulus Media Q2 Net Revenue Rises 5.4%. Reporting its financial data for the second quarter of 2022, Cumulus Media reveals net revenue of $236.7 million – an increase of 5.4% over the same period in 2021. The company also reports net income of $8.7 million for the quarter after posting a net loss of $5.9 million during Q2 of 2021. Total broadcast revenue for Cumulus fell 0.3% to $175.7 million compared to the second quarter of 2021. While radio spot revenue was $127 million – up 5.1% over Q2 2021, network revenue slipped 12% to $48.7 million. Cumulus Media’s digital segment rose 20.3% to $37.8 million. CEO Mary Berner comments, “Our ability to deliver yet another quarter of strong results is testament both to the quality of our strategic plan and the discipline and relentlessness with which we implement it.  Specifically, we have deployed our multi-platform audio-first content strategy, developed multiple digital businesses, significantly reduced fixed costs, undertaken high ROI internal investments, and created a best-in-class balance sheet that gives the company substantial financial flexibility and capital allocation optionality. Given our track record, we have tremendous confidence in our ability, under this plan, to grow shareholder value. Despite the challenging macro environment, we increased revenue in the quarter by more than 5%, driven by our digital businesses whose growth accelerated in Q2 to 20% year-over-year. Additionally, bolstered by our ongoing focus on fixed cost reductions, this quarter we generated additional cash from operations and increased net income, EBITDA and EBITDA margins vs. the same period last year. We also efficiently executed nearly half of our $50 million share repurchase authorization and bought back $50 million of bonds at a discount, while simultaneously reducing net leverage to 3.8x, the lowest it’s been in more than a decade. With a robust political spending season anticipated, we are on trend toward achieving our net leverage target of less than 3.5 times and EBITDA at the low end of our 2022 guidance range.”

Conservative Media Figures Gather at CPAC 2022. Pictured above (from l-r) are WMAL-FM, Washington, DC morning drive personality Larry O’Connor, Salem Radio Network VP, news & talk programming Tom Tradup, and author and TOWNHALL.com contributor Kurt Schlichter in Dallas for the first day of CPAC 2022. The annual event runs through Sunday and speakers scheduled to address the gathering include: former President Donald Trump, Senator Ted Cruz, British conservative leader Nigel Farage, and Hungary Prime Minister Viktor Orban.

Former WFTL, Fort Lauderdale Talk Host Rich Stevens Passes. TALKERS magazine has learned that former WFTL, Fort Lauderdale talk host Rich Stevens died on July 30 at the age of 68 after suffering a heart attack. Stevens worked in music radio prior to hosting his talk show on WFTL, serving at such signals as WPLJ-FM, New York and WJHM, Orlando. He also served at WABC-TV, New York as an entertainment reporter.

TALKERS News Notes. As part of RAB’s Radio Works initiative, the next live presentation in the series titled, “Radio Works for Restaurants,” takes place on Wednesday, August 17 at 1:00 pm ET and will provide industry insights and trends intended to help broadcasters gain a better understanding of the opportunities and challenges facing the restaurant industry and how radio can continue to serve this category. Since the beginning of the pandemic, restaurants have endured closures, staffing shortages, product supply strains and inflationary pressures making for a challenging business environment. Hudson Riehle, senior vice president, research & knowledge group at the National Restaurant Association, will provide an update on the “State of the Restaurant Industry” to help radio sellers understand the areas where businesses in this category need support. It’s free for RAB members and they can register here…..ESPN and Omaha Productions are expanding their relationship in the audio space with the premiere of a new show, “Kyle Brandt’s Basement,” led by NFL Network “Good Morning Football” host Kyle Brandt. The daily show debuts August 8 and “explores the ins and outs of the NFL through lively guest interviews with the top voices in the sport and inventive segments unique to Brandt to bring fans closer to the action on and off the field.” Brandt comments, “I’m thrilled about this show, and I’ll be shot out of a cannon every single day. It’s in my own basement and I’ve got games, toys and takes. I can promise one thing: it will not be boring.”…..Pictured at left is WGKB-AM/W269DL, Milwaukee “101.7 The Truth” talk host Tory Lowe during last weekend’s 7th Annual Stop the Violence Peace Walk during which he walked from Milwaukee to Chicago (more than 80 miles) to “raise awareness and bring an end to violence in our communities.” Lowe says, “It is important for us to build a bridge between Milwaukee and Chicago, open the lines of communication, and bring awareness to the violence that plagues our communities.”

Kansas Abortion Vote, Midterms/2024 Presidential Race, Pelosi Taiwan Visit, January 6 Investigation, Russia-Ukraine War, The Economy, COVID-19, and U.S. Rep. Walorski Killed Among Top News/Talk Stories Yesterday. Kansas voters elect to keep abortion rights in the state’s constitution; the primary races for the November midterm elections and speculation about the nominees in the 2024 presidential race; House Speaker Nancy Pelosi’s visit to Taiwan and China’s angry response; the January 6 investigation and the DOJ subpoenas issued to former White House counsel Pat Cipollone and former deputy counsel Patrick Philbin; Russia’s ongoing invasion of Ukraine and the impact on the global economy; the falling price of gasoline and the still-high cost of food in the U.S. and concerns about a recession; the rate of BA.5 subvariant cases in the U.S.; and U.S. Rep Jackie Walorski (R-IN) and two staffers are killed in a car accident 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, May 11, 2022

By Editor | by Editor

Salem Media Group First Quarter Revenue Rises 5.5%. Reporting financial data for the first quarter of 2022, Salem Media Group says total revenue was $62.6 million, an increase of 5.5% over the same period in 2021. Operating income was $5 million, up 14.2% from the same period a year ago. Salem posted net income of $1.7 million in Q1 of this year compared to the net income of $0.3 million reported for the same quarter in 2021. Breaking down the company’s data by segment, net broadcast revenue increased 10% to $48.4 million from $44 million in 2021, while digital media revenue increased 7.1% to $10.3 million from $9.6 million, and publishing revenue decreased 31.8% to $3.9 million from $5.7 million. Looking ahead, Salem Media Group says that for the second quarter of 2022, it is projecting total revenue to increase between 6% and 8% from second quarter 2021 total revenue of $63.8 million.

 

The Vastness of Night. “The two most effective, engaging forms of advertising are in-theatre and overnight radio,” says Walter Sterling. “Surrounded by darkness without distractions, the audience choses to receive the advertising message in the comfort of a bed, perfectly adjusted car seat, or reclining throne. Overnight radio is 25% of the broadcast day. Twenty-five percent. A locally hosted all-night show in a major city is a gift to listeners and advertisers.” You say you can’t afford an all-night talk radio host? Read more of what Walter Sterling has to say here.

 

Tom Millikan Upped to Assistant Brand Manager for WXYT-FM, Detroit. Executive producer Tom Millikan is promoted to assistant brand manager at Audacy’s sports talk WXYT-FM, Detroit “97.1 The Ticket.” He will continue in his executive producer role for “The Morning Show with Stoney and Jansen.” Audacy Detroit SVP and market manager Debbie Kenyon says, “Tom has done an outstanding job as an executive producer and has played a vital role in the success of the station. He is very deserving of this promotion and we look forward to even greater success with Tom in his new role.” Millikan comments, “Throughout my 20-plus years in radio, I’ve been blessed with countless memories of championships and pure joy. I’m living out a dream. I wanted to work in sports radio since the format exploded in the early 90s and I’ve been blessed by the tutelage of all of my co-workers and peers. I was born and raised in Detroit and Detroit sports are part of my DNA. Listeners might not agree with my opinions or show content all of the time, but I genuinely try to produce shows that Detroit sports fans want every single day.”

 

ABC Audio Promotes Liz Alesse to VP. Rising from the director and executive producer of podcast programming position to vice president of ABC Audio is Liz Alesse. In this role, Alesse will oversee the organization’s entire audio business, including ABC News Radio, podcasts, and the entertainment content service. ABC News senior vice president of streaming and digital content Reena Mehta says, “She has been instrumental in growing and re-organizing our award-winning podcast team, developing successful content and monetization strategies, and partnering closely within the news division and across The Walt Disney Company to promote our work. Liz oversaw the successful launches of new podcasts, including, ‘Life Out Loud with LZ Granderson,’ ‘Close Up’ and ‘The Book Case with Kate and Charlie Gibson.’ She also spearheaded creating the ‘GMA’ Channel on Apple Podcasts, which holds the new ‘Good Morning America’ podcast and ABC Audio’s growing library of lifestyle, culture and entertainment on-demand audio content. Under her leadership, the team received Webby Awards, a Gracie Award, GLAAD Special Recognition honors and more.”

 

Edison Research Q1 Top 50 Podcasts Chart; Controversy Has Not Hurt Joe Rogan. The Edison Podcast Metrics chart of the top 50 podcasts in the U.S. for the first quarter of 2022 has been released and the controversy surrounding Spotify’s “The Joe Rogan Experience” in 2021 has not harmed listening; in fact, it appears to have helped it. Edison Research director of research Gabriel Soto says, “Despite a turbulent and controversial ride for Joe Rogan at the beginning of the quarter, his show not only remains the most popular in the U.S., but it has increased in listenership – distancing itself from the number two spot.” This chart by Edison ranks the 50 biggest podcasts by audience size, based on Edison Podcast Metrics (formerly known as the Podcast Consumer Tracking Report). Edison says its list is “the only podcast measurement service that measures the relative audience size and demographics of all podcast networks in the U.S. and measures based on actual podcast listening, not downloads, and does not require an opt-in from podcast networks. Some of the other podcasts making the chart connected to radio-oriented companies include: #6 “Stuff You Should Know” (iHeartPodcasts), #9 “The Ben Shapiro Show” (The Daily Wire), #18 “The Dan Bongino Show” (Cumulus Podcast Network), #31 “The Dave Ramsey Show” (The Ramsey Network), and #39 “The Mark Levin Show” (Cumulus Podcast Network).

 

TALKERS News Notes. According to data from Nielsen, Newsmax’s live coverage of former President Donald Trump’s Pennsylvania rally pushed the network ahead of CNN in audience viewership on Friday night (5/6). Newsmax says that it pulled 738,000 total viewers between 8:00 pm and 10:00 pm ET, with an evening prime-time average of 579,000 viewers. CNN peaked at 645,000 viewers during Anderson Cooper’s show, drawing an average audience of 545,000 on Friday night. Newsmax adds that for the past year, is has consistently held the position as the fourth-highest-rated cable news channel in the U.S. and a top-20 cable channel in daytime, according to Nielsen…..The Independent Broadcasters Association says it is delivering on its promise to provide an efficient way for members to share local talent in which all talent made available to members by members will be on a very affordable cash basis, eliminating the need for costly barter deals. IBA executive director Ron Stone comments, “One of the most costly expenditures for independent radio is paying for syndication, whether by cash, barter, or a combination thereof. Our goal is to provide our IBA members with an opportunity to choose cost-effective talent from other IBA members and eliminate the need to give local inventory to large networks that sell to the very clients we used to do business with nationally, and at far better prices than network pricing. This, I believe, is a huge opportunity to get back inventory used against us at extremely low prices.”

 

The Economy, Russia-Ukraine War, Mark Esper Book, Midterms/Trump & the GOP, Roe v Wade, Musk & Twitter, COVID-19, and Western Drought Among Top News/Talk Stories Yesterday (5/10). The state of the U.S. economy, the high cost of food and gasoline, and concerns about a recession; Russia’s invasion of Ukraine, rumors of Vladimir Putin’s poor health, and the U.S. House approves aid to Ukraine; former Defense Secretary Mark Esper’s book,  A Sacred Oath, that paints former President Donald Trump in an unflattering light; the Trump-approved primary candidates for the November midterms and Trump’s influence over the GOP; the protests over the leaked draft of a Supreme Court decision to overturn Roe v Wade; the controversial attempt by Elon Musk to acquire Twitter; the rate of COVID-19 cases in the U.S., concerns about new variants, and the Chinese zero-COVID policy; and the drought affecting the U.S. West 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

Tuesday, May 10, 2022

By Editor | by Editor

Townsquare Media Reports Q1 Net Revenue Up 13%; Tops Pre-COVID Net Revenue by 7%. For the first quarter of 2022, Townsquare Media is reporting net revenue of $100.2 million, an increase of 13% over the same period in 2021 and an increase of 7% over the same period in Q1 of 2019. Townsquare is also reporting net income of 2.74 million for Q1 of 2022 compared to the loss of $6.1 million it reported in the first quarter of last year. Townsquare reports in three segments: 1) Subscription Digital Marketing Solutions – including its subscription digital marketing solutions business, Townsquare Interactive. That segment reported revenue of $21.8 million, an increase of 15% over Q1 of 2021; 2) Digital Advertising – marketed externally as Townsquare Ignite that includes digital advertising on its owned and operated digital properties and its digital programmatic advertising platform. That segment reported revenue of $29.2 million, an increase of 16.6% over last year; and 3) Broadcast Advertising – including the company’s local, regional, and national advertising products and solutions delivered via terrestrial radio broadcast (plus other miscellaneous revenue associated with the broadcast advertising platform). That segment’s revenue was $48.1 million, an increase of 7.7% over the same period a year ago. Townsquare CEO Bill Wilson states, “I am proud to announce our strong start to 2022, with net revenue, Adjusted EBITDA and net income increasing year-over-year by +13%, +10%, and $8.9 million, respectively. In addition, net revenue and Adjusted EBITDA exceeded our previously issued guidance due to strong growth and strong margins. As a Digital First Local Media Company, our first quarter performance was driven by our digital platform and solutions, with total digital revenue increasing +16% year-over-year in the first quarter (representing 51% of our total Q1 net revenue) and total digital Adjusted Operating Income increasing +11% year-over year (representing 55% of our total Q1 Adjusted Operating Income). As we move forward, we expect double-digit digital net revenue growth to continue at strong margins, fueling our overall growth and subsequent debt reduction, from 4.66x net leverage today to 4.0x by year end. We are also pleased to re-affirm our 2022 guidance and our 2024 digital revenue target of at least $275 million. These results and confidence in our outlook are due, in part, to the fact that Townsquare is the only local media and digital marketing solutions company of scale focused principally on markets outside of the Top 50 in the United States, a vital differentiator for our company. Our new reporting segments highlight the profit characteristics of our digital platform, which is essentially equal to those of our broadcast platform, each with profit margins of approximately 30%. While we view local radio as an extremely valuable asset with significant and attractive cash flow properties, unparalleled consumer reach, and an important and trusted local connection to our audience and communities, it is not our primary growth driver. With approximately half of our total revenue and profit coming from digital today, we have a strong digital growth engine that will drive significant and consistent growth in the coming years. It is our belief that as a Digital First Local Media Company providing a detailed breakout of our digital revenue and digital profit, Townsquare should be afforded a sum-of-the-parts valuation that gives credit to our digital assets.”

 

MIW Launches State Broadcasters Partnership Program. The non-profit organization Mentoring and Inspiring Women in Radio, Inc., dedicated to the advancement of female leadership in radio broadcasting, announces a new national program designed to create mentorship opportunities in every state in the union. This three-to-five-year strategic plan exponentially expands the organization’s mentoring outreach across the United States. The first pilot program partners MIW with the Minnesota Broadcasters Association to create, “Mentoring and Inspiring Women in Minnesota.” MIW’s long term plan includes establishing close working relationships with leadership from all interested state broadcasters associations and broadcasters across the country to create mentorship curriculums for female professionals in radio broadcasting. With MIW’s guidance, these state-centered programs will be based on the tenets, structure, and best practices of MIWs broad array of successful and established mentoring opportunities. MIW Board president Ruth Presslaff says, “This program is designed to dramatically expand our mentorship outreach. We couldn’t ask for a better first partner than president Wendy Paulson and the Minnesota Broadcasters Association as we work toward a mentee in every state. Cheers to the first. Forty-nine to go!” Find out more here.

 

TALKERS News Notes. When the Radiodays Europe conference takes place in Malmö, Sweden May 15-17, Beasley Media Group CEO Caroline Beasley will take part in two sessions. She will participate in a special one-on-one session titled, “American Regional Radio in the Digital Age,” hosted by Benztown president Dave “Chachi” Denes. In addition, Beasley will take part in the “Audio Summit” panel, featuring Sibyle Veil (CEO Radio France), Linda Pamgren (CEO Bauer Media Sweden) and Cathinka Rondon (head of Radio-NRK). The session will be moderated by Folder Media creative director Matt Deegan…..The nationally syndicated, weekend shooting sports program “Tom Gresham’s Gun Talk” adds WBIN Media’s WTPL-FM, Hillsborough, New Hampshire and Berkshire Broadcasting Corp’s WLAD-AM/W231DJ, Danbury, Connecticut to its roster of affiliate stations. The program is syndicated by Talk Shows USA…..Chicago-based MediaTracks Incorporated sells “Radio Health Journal” and “Viewpoints Radio” to American Urban Radio Networks, LLC. The two weekly public affairs programs are syndicated on a total of nearly 1,500 stations in more than 200 U.S. markets. Bob Heymann of the Chicago office of Media Services Group served as the exclusive broker for the seller in this transaction…..Audio content, marketing, and advertising services firm Gemini XIII, joins forces with Diversion Podcasts through an investment that will grow Diversion’s offerings under a new premium podcast network called Diversion Audio. Diversion Audio will become Gemini XIII’s content division. The division will leverage sister company Diversion Books’ publishing assets and author relationships to offer a focused content model it says is unique to podcasting: expanding IP from books, authors, and personalities into the podcast medium as original audio content across both high-frequency episodic shows and engrossing narrative limited series. Gemini XIII co-founder and CEO Spencer Brown says, “Through Diversion Audio, we will build upon the successful franchises and proven track record that Scott [Waxman] and his talented team have created at Diversion Podcasts. Together with our recent acquisitions of Phantom Producer and The Infinite Agency, Gemini XIII is well-positioned to optimize these premium assets and capabilities to build and grow a new breed of audio company. The creation of Diversion Audio advances that strategy considerably. We think podcast listeners and readers alike will love what they hear as we launch new podcasts tied to Diversion’s expansive intellectual property library.”

 

The Economy, Russia-Ukraine War, Roe v Wade, Midterms/Trump & the GOP, COVID-19, Vicky White/Casey White Manhunt, and Western Drought/Texas Wildfire Among Top News/Talk Stories Yesterday (5/9). The falling Dow and NASDAQ, the high price of gas & food, and concerns about a full-blown recession; Russia’s invasion of Ukraine and concerns about Vladimir Putin’s health and willingness to use nuclear weapons; the aftermath of the leak of a draft of the Supreme Court’s ruling to overturn Roe v Wade; the November midterm elections and Donald Trump’s influence over the GOP; the rate of cases, hospitalizations & deaths from COVID-19; the manhunt for Alabama corrections officer Vicky White and convict Casey White ends; and the drought in the U.S. West and the Texas wildfires 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

Thursday, March 10, 2022

By Editor | by Editor

Townsquare Media Reports 2021 Q4 Net Revenue Up 1.9%; Full Year Net Revenue Rises 12.6%. The 2021 fourth quarter and 2021 full year financial report from Townsquare Media reveals Q4 net revenue of $110.6 million, an increase of 1.9% over the same period in 2020. For the full year of 2021, net revenue was $418 million, up 12.6 % over the full year of 2020. Townsquare Media reports its financial information in three primary segments: 1) Subscription Digital Marketing Solutions, which includes the company’s subscription digital marketing solutions business called Townsquare Interactive. 2) Digital Advertising includes the digital advertising business sold as Townsquare Ignite, and 3) Broadcast Advertising includes the company’s local, regional, and national advertising products and solutions delivered via terrestrial radio broadcast, as well as other miscellaneous revenue that is associated with the broadcast advertising platform. Company CEO Bill Wilson says, “Beginning with our 2021 year-end reporting, we have re-segmented our business to provide greater visibility for our existing and prospective investors. Importantly, this re-segmentation will highlight the profit characteristics of our digital platform, which is essentially equal to those of our broadcast platform, each with profit margins of approximately 30%. Given this new and more detailed information, Townsquare should be viewed and valued as a Digital First Local Media Company, rather than being painted with a traditional broadcast radio brush. While we view local radio as an extremely valuable asset with significant and attractive cash flow properties, unparalleled consumer reach, and an important and trusted local connection to our audience, it is not our primary growth driver. Our growth engine is and will continue to be digital, which fueled our transformation into a Digital First Local Media Company. With nearly half of our total revenue and profit coming from digital today, we have a strong growth engine that will drive significant and consistent growth in the coming years. It is our hope and expectation that given this new more detailed information, Townsquare will be afforded a sum-of-the-parts valuation that gives credit to our digital assets, credit which to date we have not received.” For the full year of 2021, Townsquare reports net income of $18.8 million, compared to a net loss of $80.6 million reported for the full year 2020, which the company says was primarily driven by approximately $109.1 million of non-cash impairment charges, primarily related to its FCC licenses.

 

Saga Communications Q4 Net Revenue Flat; 2021 Full-Year Net Revenue Up 13.1%. The company reports 2021 fourth quarter net revenue of $29.2 million, basically flat compared to the $28.8 million reported for the fourth quarter of 2020. Net income for Q4 of 2021 was $3.7 million compared to $2.3 million reported for the same period in 2020. For the full year of 2021, Saga Communications reports net revenue increased 13.1% to $108.3 million compared to $95.8 million for the full year of 2020. The company reports net revenue for 2021 of $11.2 million compared to the net loss of $1.9 million reported for the full year of 2020. Saga says its balance sheet reflects $54.8 million in cash on hand as of December 31, 2021 and $56.2 million as of March 7, 2022.

 

KOA, Denver Morning Personality April Zesbaugh Announces Retirement. “Colorado’s Morning News” co-host April Zesbaugh announces that she’s retiring from iHeartMedia’s news/talk KOA, Denver in the coming months after a 30-year broadcast journalism career that includes 25 years with KOA. Zesbaugh has co-hosted “Colorado’s Morning News” since 1996 and is one of the longest running news personalities in Colorado. She comments, “Despite my 2:30 am wake-up call for the last 30 years, I feel very fortunate for every second in front of the KOA microphone. It’s time to hang-up my headphones to pursue more family time, play more tennis, travel in our RV and see what it feels like to sleep without an alarm clock.” Zesbaugh is the winner of one national and numerous regional Edward R. Murrow Awards for journalism excellence by the Radio Television Digital News Association, as well as countless awards for “Colorado’s Morning News” from the Colorado Broadcasters Association and the Associated Press. She has also been an influential member of the Denver community and has emceed numerous charity events, including those focused on mental health, Alzheimer’s disease, the challenges of single mothers and animal rescue. KOA program director Greg Foster says, “April is one of the most recognizable and popular voices in Colorado and has set a professional standard which has contributed to the success of KOA. While we will miss our friend and colleague, April has earned the opportunity to enjoy her retirement.” Zesbaugh adds, “I’m grateful to Jerry Bell, former news director of KOA, for hiring me – calling me during my honeymoon to offer me the job – and to the current news director, Kathy Walker, and the KOA news team who have been with me every step of the way in helping to make me a better broadcaster and journalist. I’m leaving our listeners in good hands with my co-host, Marty Lenz. He has great news chops and asks really smart questions.”

 

Chris Hansen is This Week’s Guest on Harrison Podcast. Multi-platform reporter and predator-hunter Chris Hansen is this week’s guest on the award-winning PodcastOne series “The Michael Harrison Interview.” For nearly four decades, Hansen has been on the front lines of crime, enterprise reporting, and breaking news all over the world. Most recently he was an executive producer and reporter for the “Onision: In Real Life” and “Unseamly…The Peter Nygard Investigation” series now on Discovery+ and the current top-rated podcast “Predators I Have Caught with Chris Hansen.” He has also been host and correspondent for the syndicated program “Crime Watch Daily” as well as “Killer Instinct on ID” and “Dateline NBC.” He created the groundbreaking investigations, “To Catch A Predator,” among others. These investigations are responsible for exposing some 400 men attempting to meet children online for sex. Hansen has been honored with 10 Emmys, five Edward R. Murrow awards as well as excellence in reporting by the Overseas Press Club. He also has a substantial digital presence including a YouTube channel, which has more than 375,000 subscribers and 25 million views. The deep-dive conversation between Harrison and Hansen covers two major areas – the rapid evolution of media (including the tenets of building a YouTube channel) to the scourge of crime on our city streets as well as the mean streets of cyberspace where sexual predators continue to prowl for children and young women. To listen to the podcast in its entirety, please click here.

 

 

SRN’s Eric Metaxas Broadcasts from National Religious Broadcasters Conference. Pictured above (at right) is Salem Radio Network host Eric Metaxas broadcasting his program live from the National Religious Broadcasters conference from the Gaylord Opryland Hotel in Nashville. Pictured with Metaxas are U.S. Congressman Allen West (left) and Rick Green, founder of Patriot Academy (center). NRB 2022 continues through this weekend.

 

PodcastOne Joins Top 10 Podcast Publishers. According to data from podcast metric company Podtrac, PodcastOne is ranked #8 on the list of Top Podcast Publishers. Podtrac ranks top publishers based on unique audience counts. PodcastOne president Kit Gray says, “Being recognized by Podtrac with inclusion on the Top Publishers list is a testament to the hard work of the PodcastOne team both behind the mic and behind the scenes. Our hosts are delivering top-notch entertainment and providing content that is resonating with listeners as is evidenced by the growth in audience numbers across the board.” PodcastOne says its growth “comes on the heels of the successes and strengths of tentpole podcasts ‘Baby Mamas No Drama’, ‘Off The Vine with Kaitlyn Bristowe,’ ‘The Jordan Harbinger Show’, ‘LADYGANG’ and ‘The Adam Carolla Show,’ as well as acquisitions of top-performing programs such as ‘Coffee Convos,’ ‘True Crime All the Time Unsolved,’ and ‘This Is MONSTERS,’ which all saw significant audience growth since joining PodcastOne.”

 

JVC Broadcasting: ‘Radio is Working and Radio Works!’ Long Island-based JVC Broadcasting is sending a message to the industry – and beyond – that its recent hiring spree shows that the radio market is a good place for job seekers. JVC says that this January, it began a massive recruitment campaign using its local radio stations and social media platforms and the response was overwhelming. JVC announces that is has hired or internally promoted 16 media and entertainment professionals companywide. JVC president and CEO John Caracciolo states, “The current radio market is great for employment. There was a lot of trepidation for media companies in 2020 and 2021. People wanted to see how things would work out and if the radio business would bounce back, and it did stronger than ever. The most important and most rewarding investment an entrepreneur can make isn’t a new client or a cool piece of equipment, it’s your team of employees. I have built this business by surrounding myself with fantastic people who are visionaries and leaders. If all your employees become entrepreneurially minded or leaders in their own right, your organization will grow even faster. And the coolest thing about this entire recruitment campaign is we did all the outreach using only our local radio station assets! So yes, radio is working and radio works!”

 

Russia-Ukraine War, House Omnibus Bill, Gas Prices/Inflation, Biden Cryptocurrency Order, COVID-19, Midterms/Trump & the GOP, and MLB Season Among Top News/Talk Stories Yesterday (3/9). Russia’s ongoing invasion of the Ukraine and the West’s reaction; the U.S. House passes an omnibus bill that would include $14 billion in Ukraine aid; the soaring price of gas at the pump and high consumer retail prices; President Joe Biden signs executive order to investigate risks and opportunities of cryptocurrency; the falling rate of COVID-19 cases and the rolling back of mask mandates; the battle for control of Congress in the November midterms and Donald Trump’s influence over the GOP; and the failing negotiations between MLB owners and players were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.