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Top Radio News
Audacy Q1 Net Revenues Rose 1% to $261.8 Million
| RADIO ONLINE | Friday, May 10, 2024 |
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Audacy reported first quarter net revenues rose 1% to $261.8 million from $259.6 million in 2023. Total Radio revenues decreased 2% while Digital revenues increased 10%. Operating loss was $0.4 million down from an operating loss of $12.2 million. Adjusted EBITDA grew 73% to $9.6 million from $3.5 million. The company posted a net loss of $1.85 million (39 cents per diluted share) as compared to a net loss of $35.9 million (7.63) in the year-ago period.
Chairman, President and CEO David J. Field stated, "Audacy delivered a solid start to 2024 with Q1 EBITDA increasing 173% vs the prior year. Second-quarter revenues are currently pacing up low-single digits, and we expect another quarter of substantial EBITDA growth, enhanced by our continuing work on expense reductions. Our improving results are predominantly attributable to a significant acceleration in digital revenue growth, continuing meaningful revenue share gains, and declining expenses as our transformational investments bear fruit."
He added, "As previously announced, we received court approval of our consensual pre-packaged Plan of Reorganization, which will reduce our debt by 80%, and are now awaiting FCC approval to complete the process. I want to salute our team for their excellent work in driving financial and operating progress while simultaneously executing our reorganization plan, all without disruption to customers, listeners, partners, vendors or our staff."
Salem Media Q1 Total Revenue Down 7.5% to $58.6 Million
| RADIO ONLINE | Friday, May 10, 2024 |
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Salem Media Group reported first quarter total revenue fell 7.5% to $58.6 million from $63.4 million in 2023. Broadcast revenue was down 4.7% to $46 million and digital revenue was essentially flat at $10.7 million. Operating income fell to loss of $2 million from a loss of $4.1 million. Adjusted EBITDA was down 17.2% to $1.1 million from $1.3 million. The company posted a net loss of $5.1 million (19 cents per diluted share) as compared to a net loss of $5.1 million (19 cents) in the year-ago period.
Buffalo Bills PBP Radio Announcer John Murphy Steps Away
| RADIO ONLINE | Friday, May 10, 2024 |
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Longtime Buffalo Bills play-by-play radio announcer John Murphy will not return to the team's broadcast booth after a 35-year career, marked by his induction into the Buffalo Broadcasters Association's Hall of Fame. Murphy, who started as a color analyst in 1984, has been the voice behind many of the team's historic moments. Unfortunately, after suffering a stroke late in the 2022 season, his recovery has not progressed as hoped, particularly impacting his ability to communicate effectively.
Despite his efforts in rehabilitation, including daily workouts that led to significant weight loss, Murphy has acknowledged that his speech has not improved sufficiently to continue in his role. "I feel good, I just can't talk, and that's what's holding me back from being on the radio," he shared on WBEN in Boston.
While he steps away from the microphone, Murphy remains hopeful about his recovery, expressing a desire to possibly return to game day broadcasts in a different capacity. Head coach Sean McDermott and others have praised Murphy's contributions, and Bills owner Terry Pegula has expressed hope that Murphy can continue to be involved with the organization in some way. Chris Brown has been filling in since Murphy's stroke, though future plans for the play-by-play announcer position have not yet been announced.
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Report: Giuliani Out at WABC-AM/New York, Show Cancelled
| RADIO ONLINE | Saturday, May 11, 2024 |
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Rudy Giuliani has been removed from his role at WABC-AM/New York, leading to the cancellation of his show, as confirmed by station owner John Catsimatidis and reported by NBC News. Catsimatidis told NBC News that Giuliani had been previously cautioned twice by station management regarding his on-air assertions that questioned the validity of the 2020 election during his daily radio show, which he has hosted for the past three years. This development was initially reported by The New York Times.
A letter addressed to Giuliani, which NBC News obtained, indicated that Catsimatidis had instructed the former lawyer to President Donald Trump to avoid discussing issues related to the 2020 Presidential Election on his WABC programs. The prohibited topics outlined in the letter included the election's legitimacy, claims of fraud by election workers, and Giuliani's personal legal challenges connected to these claims.
The letter, dated Thursday, May 9 referenced a recent news piece involving two Georgia poll workers who last year won $148 million in a defamation case against Giuliani, accusing him of repeating false claims.
Catsimatidis's letter stressed, "You are again alleging fraud. This cannot occur on our broadcasts. Abiding by this is crucial for maintaining your association with WABC. We cannot support these actions nor bear the consequences of your behavior under any circumstances."
He also told NBC News that the cancellation of Giuliani's show was unplanned, expressing regret over the decision. "He remains America's mayor, but there has to be a line," Catsimatidis remarked.
Wondery Launches Wondery Ad Analytics Ad Measurement Suite
| RADIO ONLINE | Friday, May 10, 2024 |
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Wondery releases Wondery Ad Analytics, a new ad measurement suite to increase transparency, performance and measurement for podcast advertisers. This new product directly addresses requests from advertisers for the types of products and services they want. The measurement-as-a-service program gives advertising customers direct access to actionable campaign insights from trusted third-party providers.
Wondery Ad Analytics includes six measurement products, and over a dozen third-party vendors, supporting U.S. and non-U.S. locales, making it a comprehensive podcast ad measurement program for Brand Lift, Web Lift, Retail Traffic Lift, Offline Sales Lift, Brand Safety & Suitability, A/B experimentation and more.
Wondery Ad Analytics will also be working with Upwave on brand lift offerings, to create a direct data integration which allows measurement of baked-in and dynamic ads without the use of a pixel or URL pre-fix, making Wondery the first podcast publisher to ever measure baked in ads this way with Upwave.
"These innovations support the growing need for customers to prove their impact, performance, and return on advertising dollars spent," said Wondery Head of Ad Measurement Alyson Sprague. "Wondery is committed to improving data transparency, quality, and performance for advertisers through these first-to-market services, giving advertisers greater media planning controls, and has the potential to improve performance. The news of Wondery's alliance with Barometer and first-to-market ad analytics offerings demonstrates Wondery's commitment to serving its advertisers' custom needs."
For more information please visit wondery.com.
ESPN 30 for 30 Podcasts Announces Searching for Hobey Baker
| RADIO ONLINE | Friday, May 10, 2024 |
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ESPN 30 for 30 Podcasts has announced the upcoming debut of its new three-episode podcast series "Searching for Hobey Baker," which chronicles the life of collegiate athlete Hobey Baker, who many consider the first ice hockey star in America. Premiering June 12, the podcast is narrated by actor, writer, director, author and singer-songwriter David Duchovny, who like Baker, is an alumnus of Princeton University.
Every hockey fan knows the name Hobey Baker - collegiate hockey's most prestigious trophy is named after him - but very few know the real story of this all-time great athlete. Using an archive of personal letters and source materials provided by the Mudd Library at Princeton University, as well as original research, the series charts Hobey's glory days as the best collegiate hockey and football player in the nation, his post-grad ennui in Gilded Age New York City, and his exploits as a WWI fighter pilot, which ended tragically in a mysterious crash in 1918.
Beyond Hobey's adventures on the ice and in the air, this podcast also re-contextualizes the hockey legend through the lens of his lesser known struggles as a queer man in the early 20th century.
"As ESPN continues to delve into captivating narratives through our 30 for 30 stories, we are thrilled to illuminate the extraordinary legacy of Hobey Baker in an upcoming podcast," said ESPN Producer and Head of 30 for 30 Podcasts Preeti Varathan. "Collaborating with David Duchovny, a fellow Princeton alum, adds a unique depth to this exploration of Baker's life. It's crucial to showcase underrepresented stories like Baker's, especially his journey as a queer sports icon."
Baker was named one of the first nine inductees, and the only American, to the Hockey Hall of Fame, when it was founded in 1945, and was an initial inductee in the United States Hockey Hall of Fame in 1973. In 1981, The Hobey Baker Award, named after Baker, was first awarded to the top National Collegiate Athletic Association men's ice hockey player.
Executive Producers of the series are Ross Greenburg, Andrew Reynolds and Tim Smith and the series was produced by Ross Greenburg Productions and Silver Sound in collaboration with ESPN.
Salem Media Sells its Principal Office in Camarillo CA
| RADIO ONLINE | Friday, May 10, 2024 |
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Christian radio broadcaster and podcaster Salem Media Group has announced the sale of its principal office in Camarillo, California to Eclipse RE Holdings, for $5.5 million. The deal closes on May 1. Salem will leaseback the building for five years, an approximate 41,546 square foot building situated on approximately 121,532 (2.79 acres) square feet of CPD zoned land.
iHeartMedia Q1 Revenue Down 1.5% to $799 Million
| RADIO ONLINE | Thursday, May 9, 2024 |
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iHeartMedia reported first quarter revenue declined 1.5% to $799 million from $811.2 million in 2023. Excluding political revenue, revenue was down 2.5%. Operating loss fell to $35 million from $49 million. Consolidated Adjusted EBITDA climbed to $105 million from $93 million, while Free Cash Flow was down to a loss of $59 million from a loss of $133 million. The company posted a net loss of $18.1 million as compared to a loss of $22.3 million in the year-ago period.
"We're pleased to report our first quarter of year-over-year Adjusted EBITDA growth in five quarters, driven by the substantial sequential year-over-year improvement in the performance of all our segments: the Multiplatform Group, the Digital Audio Group, and the Audio and Media Services Group - with the Digital Audio Group hitting its best Q1 EBITDA margin ever," said iHeartMedia Chairman and CEO Bob Pittman. "Additionally, our Q1 results were in line with our previously provided Adjusted EBITDA and Revenue guidance ranges. Although the marketplace continues to be dynamic, we continue to see meaningful opportunities for growth in our businesses and we remain confident in 2024 as a recovery year."
"We continue to see signs of improvement throughout both our businesses and the broader advertising marketplace, and we expect 2024 to be a significant growth year," added iHeartMedia President, COO and CFO Rich Bressler. "Our high-growth Digital Audio Group's Adjusted EBITDA was up 26% over prior year with first quarter revenues up 7.0% vs. prior year, and represented thirty percent of the company's total revenue; we saw improvement in our Multiplatform Group; and as an early indication of the potential for political revenue, we are currently pacing up 16% for the full year in political revenue compared to 2020, the last presidential election cycle, which was the highest political revenue year for the company."
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Townsquare Q1 Net Revenue Down 3.4% to $99.6 Million
| RADIO ONLINE | Thursday, May 9, 2024 |
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Townsquare Media reported Q1 net revenue decreased 3.4% to $99.6 million from to $103.1 million in 2023. Subscription Digital Marketing Solutions net revenue decreased 15.3%, while Broadcast Advertising net revenue declined 1% and Other net revenue fell 7.8%. Adjusted EBITDA fell 9.9% to $17.5 million from $19.4 million. The company posted a net income of $1.6 million (6 cents per diluted share) as compared to a net loss of $1.9 million (14 cents) in the year-ago period. The increase was primarily due to a $6.9 million decrease in non-cash impairment charges and a $3.1 million increase in Other income.
"I am pleased to share that Townsquare's first quarter results met our previously issued guidance, and that we are building momentum and gaining market share, primarily due to our local focus and our unique and differentiated digital platform, commented Townsquare Media CEO Bill Wilson. "Our first quarter performance improved over the fourth quarter across each of our segments. Importantly, our Digital Advertising segment returned to revenue growth in the first quarter (1.3% year-over-year), and our Townsquare Interactive segment achieved net subscriber growth and month-over-month revenue growth in March, a meaningful turning point for the business."
Wilson continued, "Our performance and building momentum reinforces my confidence in our Digital First Local Media strategy, our focus on markets outside of the Top 50 U.S. cities, and our path moving forward. I am pleased to share that others share this view as well. Boyar Research, founded in 1975 and a leading firm of in-depth, independent research on publicly traded U.S. companies, highlighted Townsquare as their "Opportunity Pick" in March 2024, and in their report they derive an intrinsic value of Townsquare of $25.30 per share based on a sum-of-the-parts valuation."
Saga Q1 Net Revenue Down 2.5% to $24.7 Million
| RADIO ONLINE | Thursday, May 9, 2024 |
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Saga Communications reported first quarter net revenue decreased 2.5% to $24.7 million from $25.3 million in 2023. Station operating expense grew 5.9% to $23 million from $21.7 million. Operating loss was $2.4 million down from an operating income of $905,000, while station operating income decreased 40.9% to $2.8 million. Operating loss included a $971,000 other operating expense which was a non-cash write-off. The company posted a net loss of $1.6 million (25 cents per diluted share) as compared to a net income of $920,000 in the year-ago period.
Saga paid a quarterly dividend of 25 cents per share on March 8, 2024. The aggregate amount of the quarterly dividend was approximately $1.6 million. The company also paid a variable dividend of 60 cents per share on April 5, 2024. The aggregate amount of the variable dividend was approximately $3.8 million. To date Saga has paid over $130 million in total dividends to shareholders since the first special dividend was paid in 2012.
Apple Now Charting Broadcast Radio with Shazam
| RADIO ONLINE | Thursday, May 9, 2024 |
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Apple Music, leveraging Shazam's music recognition technology, has introduced a new feature called Radio Spins charts that tracks the most played songs on broadcast radio worldwide. This integration now allows Apple Music subscribers to access a daily updated global top 200 Radio Chart, along with genre-specific charts including Pop, Hip-Hop/Rap, Dance, Electronic and more. These charts are available on both Apple Music and the Shazam website, where they are updated daily.
To create these charts, Shazam analyzes nearly one million hours of music daily from over 40,000 radio stations across more than 200 countries and regions. This dataset not only helps in identifying what music is trending but also aids in discovering breakout talents and emerging trends through Apple's newly launched Music Partner Program. This toolkit offers record labels and distributors access to detailed metrics and analytics, including the new Shazam Radio Spins data, real-time listener counts and a Chart Explorer database that covers 270 countries and 60 genres.
The Music Partner Program, currently open to a select group of U.S. record labels and distributors, integrates with Apple Music through dedicated APIs and online dashboards, providing insights that can influence music promotion and distribution strategies. This move is part of Apple's broader strategy to enhance its music streaming service and compete more aggressively with other platforms like Spotify, also including the launch of a new personal "Discovery Station" and efforts to maintain a strong presence in the podcast market.
Urban One Signs Ryan Cameron to Multi-Year Agreement
| RADIO ONLINE | Thursday, May 9, 2024 |
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Veteran radio personality, actor, comedian and community advocate Ryan Cameron signs a multi-year agreement with Urban One and Reach Media for the "Ryan Cameron Uncensored Show" (RCUS). His afternoon show currently airs on WAMJ-FM (Majic 107.5/97.5) in Atlanta and syndicated with Reach Media across the country. An Atlanta native, Cameron is a member of the Georgia Radio Hall of Fame. He holds the distinction as the first African American P.A. Announcer in the history of the Atlanta Hawks.
Cameron shared, "When you do what you love every single day, it's not work. The relationship that I have with this company is historical and I look forward to our continued growth and success."
"Ryan is truly one of the most talented, creative and professional talent in the country," added Radio One Regional Vice President Tim Davies. "It is fantastic to be in the Ryan Cameron business for years to come."
In 2015, Cameron was named one of Atlanta's 55 Most Powerful by Atlanta Magazine and is one of The Source's Top 20 Influencers in hip-hop for 10 years running. In 2016, he was ranked by Radio Facts as the number one non-syndicated radio show in the country. In 2002, he founded The Ryan Cameron Foundation Leadership Academy, which recruits high school students and provides them with opportunities in academic, leadership, and career development along with community engagement for healthy lifestyles and anti-violence.
Joining Ryan Cameron on RCUS are Executive Producer, Sam Sirmons and Raymond "Big Ray" Dyer.
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AGC Kevin Krueger Joins Radio Research Consortium Board
| RADIO ONLINE | Thursday, May 9, 2024 |
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Radio Research Consortium (RRC) recently selected Atlantic Gateway Communications (AGC) President and CEO Kevin Krueger to join their board of directors. A graduate of Walla Walla University (where he was on-air and Program Director at the university station), Krueger played a pivotal role in the development of the Positive Life Radio Network in the Pacific Northwest and, in 2013, joined WGTS as General Manager.
"RRC was established in 1981 with a long and stable history, one that I am honored to be a part of," said Krueger. "Becoming a board member with this organization places me in a position to be a bridge to stations throughout my circle -- such as Christian media, and also to help speak into the future of media research in a way that benefits all non-commercial media and their listeners. It's truly an honor."
AGC owns and operates Christian stations WGTS (91.9) and WGBZ (88.3) based in Washington, D.C., and the Eastern Shore of Maryland. AGC also owns and operates the streaming platform, AllWorship.com.
Champaign Multimedia Group Closes on Ten in Illinois
| RADIO ONLINE | Thursday, May 9, 2024 |
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Champaign Multimedia Group has closed on its acquisition of ten radio outlets in Illinois from Neuhoff Media. Included in the deal were WDAN-AM, WDNL-FM, WRHK-FM and W284DD licensed to Danville; WDZQ-FM, WSOY-AM, WSOY-FM, WDZ-AM and W277DB licensed to Decatur; and WCZQ-FM licensed to Monticello.
The sellers, Neuhoff Media Danville, Neuhoff Media Decatur and Neuhoff Family LP are Illinois-based companies. Champaign Multimedia Group is an Illinois-based company headed by Larry Perrotto, which also owns stations in Champaign, IL.
Kalil & Co., Inc. was the exclusive broker for the transaction.
NABLF, For A Bright Future Foundation Strike Partnership
| RADIO ONLINE | Thursday, May 9, 2024 |
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The National Association of Broadcasters Leadership Foundation (NABLF) announces a partnership with the Foundation For A Bright Future (FABF), a nonprofit organization dedicated to supporting underprivileged and underrepresented children. This collaboration, rooted in shared values and objectives, aims to provide students with educational opportunities and sustainable employment prospects in the media industry.
NABLF and FABF are joining forces to create a distinctive educational journey for students by leveraging their shared missions. The NAB Leadership Foundation focuses on attracting talented individuals to broadcasting careers and promoting inclusivity within the industry, aligning with FABF's goal of providing cutting-edge dual credit instruction to secondary school students. Through this partnership, students will gain exposure to cutting-edge technologies in the media industry and develop valuable leadership skills, paving the way for sustainable employment opportunities.
The collaboration will initially focus on key markets in New York, California, Florida, Texas and other regions where NABLF and FABF can maximize their combined expertise and resources to create impactful programs. Additionally, the partnership will offer recipients of FABF's Media Lab and Creative Arts Scholarships increased opportunities to participate in NABLF's Technology Apprenticeship Program, Emerson Coleman Fellowship and Media Sales Academy.
"I am thrilled about our collaboration with NAB Leadership Foundation and the potential impact it holds for empowering students in media education. This partnership signifies a pivotal step towards fostering a vibrant and inclusive media sector, opening doors for diverse talents to flourish and create a positive impact. Together, we are sowing the seeds for a brighter and more equitable future," said For A Bright Future Founder and Chairman Louis Hernandez Jr.
"By joining forces with For A Bright Future, we will be able to scale our efforts in recruiting more young people to explore career-related education, specifically in broadcast technology, programming and marketing and sales," stated NAB Leadership Foundation President Michelle Duke. "Facilitating internships at television and radio companies are the cornerstones of our academic programs, and it synchronizes beautifully with FABF's goal of placing diverse talent in the world of creative arts and media. It's an exciting time for our two foundations to work together."
Nick Cannon, Courtney Bee and Annie Agar to Join Wondery
| RADIO ONLINE | Thursday, May 9, 2024 |
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Wondery announced its latest lineup of podcast hosts for original programming, during the 2024 IAB Podcast Upfront in New York. Actor, comedian and television host Nick Cannon, alongside comedian and actress Courtney Bee, will co-host season 2 of the original podcast video series, "We Playin' Spades." Cannon and Bee will take over the table, welcoming some of the biggest names in entertainment for no-holds-barred showdowns and weekly conversations where anything goes. Season 2 will launch in July.
Further expanding its slate of sports podcasts, Wondery also announced a new original series "The Offensive Line" hosted by NFL Insider and social media star Annie Agar. Each week Agar will break down the NFL's most exciting matchups, odds and drama in her signature quick hitting style. She'll be joined by current and former players, and celebrity superfans for a fiery, fun slant on all things football and fantasy. The Offensive Line will launch in August.
"Nick Cannon, Courtney Bee, and Annie Agar are all hosts with unbelievable charisma and fresh perspectives, and that's why we're so excited to have them as part of our talk-driven programming at Wondery," said Wondery Chief Content Officer Marshall Lewy. "Nick and Courtney ran the table when they came on We Playin' Spades last season, so I can't wait to see what they do and say as hosts. Annie is an up-and-comer in both the sports and comedy space, and it's that rare combination that makes her the social media star she is."
Audacy Podcasts Partners with AEW Superstar Chris Jericho
| RADIO ONLINE | Thursday, May 9, 2024 |
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Audacy Podcasts partners with AEW superstar and multiple world champion professional wrestler, rock singer, actor and author Chris Jericho for sales and distribution of his weekly podcast "Talk Is Jericho" as of May 1. The show was formerly with SiriusXM. New episodes are available Wednesdays and Fridays on the Audacy app and everywhere podcasts are available.
On "Talk Is Jericho," Jericho interviews some of the biggest names in entertainment, pro wrestling, comedy, and the paranormal and offers his engaging, weekly take on all things pop culture, with guests including Dennis Miller, Howie Mandel, William Shatner, Cheryl Burke, Method Man, Elizabeth Hurley, Paul Stanley, Cheryl Hines, Lars Ulrich, Brad Williams, Holly Madison, Mike Tyson, Dave Bautista, Kevin Smith and Slash, among others.
"I'm stoked to bring 'Talk Is Jericho' and our 10 years of excitement, entertainment & electricity to Audacy Podcasts!," said Jericho. "With Audacy's reputation as being one the hottest, & fastest growing platforms in the podcasting biz, I know it's the perfect forum to showcase the vision & variety that I've always had for TIJ. So put on your helmets and get ready for a twice weekly audio attack of adventure....Chris Jericho style."
"Both in and out of the sports arena, Chris is an engaging and gifted entertainer, and we are thrilled to welcome him to the Audacy family," added Audacy Podcasts EVP Jenna Weiss-Berman. "'Talk Is Jericho' will deliver quality content for our listeners and exciting opportunities for clients to connect with his many fans in wrestling and beyond."
"Talk Is Jericho" has amassed over 250 million downloads over more than 1000 episodes.
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