Tag: WAUK

Front Page News Industry News

Tuesday, August 2, 2022

By Editor | by Editor

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

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

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

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

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

Front Page News Industry News

Tuesday, January 4, 2022

By Editor | by Editor

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

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

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

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

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

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

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

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