iHeartMedia's second-quarter 2015 revenue of $697.8 million was 4.1 percent higher than one year ago when it took in $670.3 million. CFO Richard Bressler said automotive, food and beverage, and entertainment were the three best-performing categories in the quarter. He also said traffic and weather, and syndication businesses, specifically singling out the news/talk format as doing well. Bressler said, according to Miller-Kaplan, iHeartMedia was up 4 percent in markets the radio industry was down 3 percent. For the second quarter, the company is pacing up 3.8 percent. In 2014, iHeart had $20.3 billion debt and $457 million in cash. In 2015 it has $20.486 billion in debt and $289 million in cash.
Today's new cars are connected, capable of keeping consumers constantly in touch with their audio entertainment, services, and contacts. Almost since its inception, radio has owned the dash, but today's tech toys and digital platforms are changing the landscape. Everything is moving crazy fast -- but it doesn't have to be scary. Radio can continue to hold a primary spot in this ever-more-crowded space and stay engaged with the new opportunities of the connected car. And at Radio Ink's Convergence, coming up May 27-28 in San Jose, you can find out how, in a panel dedicated to radio's place on the digital dashboard. READ MORE!
With Overall net revenue (including TV) of $105.8 million, Radio One was the second major radio company in two days that report a big drop in the first quarter. The 9.4% decline in Radio One's radio division was blamed on the company's four largest markets, Atlanta, Baltimore, Houston and Washington D.C. Station operating income for the quarter was $36.6 million, up 4.0% Net loss was approximately $18.5 million or $0.39 per share compared to net loss of $25.2 million or $0.53 per share, for the same period in 2014.
At the end of March, an EF-1 tornado ripped through Moore, OK. This violent storm torn down two of the three radio towers of Tyler Media's KOKC-AM 1520, and broke the third tower in half. Efforts continue to bring the towers back, but in the meantime, KOKC is still heard in a few different ways throughout Oklahoma City. Continue reading...
Alpha Media announced Friday that they have closed on the purchases of seven radio stations, three from Coast Radio Company and four from Free Lance-Star Radio. The Coast Radio stations sold are KUIC-FM/Vacaville, CA, KKIQ-FM/Livermore, CA, and KKDV-FM/Walnut Creek, CA. The Free Lance-Star stations purchased are WFLS-FM and WNTX-AM/Fredericksburg, VA, WVBX-FM/Spotsylvania, VA, and WWUZ-FM in Bowling Green, VA.
Days after Westwood One dropped Dr. Oz from its stations, iHeartMedia has a new multiplatform content partnership with cardio-thoracic surgeon. Dr. Mehmet Oz announced the deal that will deliver Dr. Oz's content across iHeartMedia's broadcast, digital and mobile platforms. President of iHeartMedia Networks Darren Davis said, "We have been great fans of Dr. Oz and we are thrilled to be able to give him this much larger platform -- from broadcast to digital and mobile. We couldn't be more excited to be working with him." The new partnership will begin later this year.
iHeartMedia announced today that Jennifer Nettles and Darius Rucker will host the 2015 iHeartRadio Country Festival, which will take place in Austin, TX on May 2. The concert event will be heard live on iHeartMedia Country-formatted radio stations. It will also stream live exclusively on Yahoo Live. Additionally, the 2015 iHeartRadio Country Festival will be later televised on NBC on May 27 at 9:00pm.
It's rare you hear the iHeartMedia home office single out talent in an earnings call, unless its the syndicated Ryan Seacrest or Elvis Duran, but CFO Richard Bressler wanted to make a point about the importance of having strong market leadership and top local talent. Since Big Boy left Emmis' Power 106 to sign a huge deal with REAL 92.3 in Los Angeles, Bressler says the station has jumped to number two (18-34) in the ratings. Bressler said iHeartMedia was so lucky to get Big Boy. "He is one of the most famous radio personalities in L.A. It was a huge win for the market." The leadership Bressler was referring to is iHeartMedia L.A. Market Manager Greg Ashlock.
That's an increase of 34 percent from one year ago. Total listening hours for the app were up 17 percent in the quarter and mobile made up 62 percent of iHeart's total listening hours in the first quarter of this year. The second annual iHeartRadio Music Awards back on March 29 generated 14 billion social media impressions - nearly 75 percent more than last year's 8.5 billion.
Dickey said the decline was a result of a "continuation of Q4's choppy advertising environment and tepid economic recovery." He said March was very anemic and, unlike iHeartMedia which reported automotive as a strong categroy, Dickey said automotive was not good at all. Here's the breakdown of where the drop-off came from: $18.8 million from broadcast advertising, $1.6 million from digital advertising, and $1.5 million from political.
CEO Lew Dickey says March and April were both anemic. "We've seen pretty big swings both positive and negative. We hear this from our peers and other media as well." Dickey said he spoke to Mark Gray at Katz which controls 90 percent of national and was told the issue is non-returning business in the scatter market. He singled out retail, telecom, automotive, and home improvement as the categories giving him the most fits. Dickey said, "It's hard to say if it's the overall economy. There's a lot of nervousness and trepidation from the clients." On a positive note, Dickey said Cumulus now has the strongest operating team in the history of the company.
The sale of land in Los Angeles and Washington DC is expected to generate over $200 million in revenue for Cumulus which will be used to pay down debt. The company reported the 10-acre L.A. site where KABC and KLOS broadcast from will generate $125 million and is on target to close in early 2016. In DC a buyer has been chosen after a very healthy bidding process for the 75 acres where WMAL-AM broadcasts from. The Washington Post reported 300 new homes will be built on the property in Bethesda which is expected to generate at least $75 million for Cumulus.
In our next Radio Ink Live webinar, Tuesday at 11AM (Eastern), Imagine what it would be like to pursue only the most ideal prospects and schedule appointments knowing they are already qualified and interested. So much money is wasted on chasing leads that aren't going to pan out and we all know that just because an appointment gets scheduled does not mean a deal will be closed. Matt Sunshine, Managing Partner at The Center for Sales Strategy and LeadG2 is our guest. Matt will explain the new sales reality we live with and detail how you can be one of the best on the street today. REGISTER FOR OUR NEXT WEBINAR HERE.
A longtime Altoona, PA radio voice has passed away at the age of 65. Charlie Weston has hosted shows on WRTA and WFBG for over 30 years. He also served as the voice of the local high school Altoona Mountain Lions. Less than a month ago, he was diagnosed with cancer.
Chris "Lucky" Stewart and Scotty, a pair of personalities from Alpha Media's WNGY/Peoria, aka Energy 102.3, broke a record for longest radio broadcast by a disk jockey duo, staying on the air for 102 hours. According to RecordSetter.com, the previous longest broadcast was for 80 hours. The marathon was done to bring attention to Child Abuse Awareness Month.
Noalmark Broadcasting's KLAZ/Hot Springs AR has announced a revamped linup. Taking over mornings will be the all-new live and local morning show, Kramer and Tiffany. It will star Doug Kramer, the station's OM and afternoon host, along with Tiffany Thorton, a new addition to the station. Thornton is an actress/singer best known for her role as Tawni Hart on the Disney Channel series Sonny with a Chance and So Random. Kramer and Tiffany replaces the syndicated Kidd Kraddick Show. Read more...
Cumulus Media has announced that Scott Lindy has been named as Program Director for Country-formatted WFMS/Indianapolis. Lindy most recently served as Director of Operations/Program Director for Lincoln Financial Media in Atlanta. He replaces Mark Hamlin, who exited earlier in April after four years in that role.
Pastor Roy Patterson, who has been Moody Radio Chicago's Station Manager since January 2011, will be exiting that role this summer. President of Moody Global Ministries, Dr. Paul Nyquist, announced Friday that Patterson will serve as the President's special assistant for community relations, effective July 1. Although stepping away from the daily duties of WMBI-FM and WMBI-AM, Patterson will maintain his hosting roles for Moody's syndicated weekend shows Celebration of Praise and Music For Sunday.
Pulpo Media, a business unit of Entravision Communications, has promoted Oscar Padilla to Senior Vice President of Marketing, Digital Media & Insights. Padilla was previously the VP of Strategy for Entravision's Luminar Insights, an analytics and modeling provider focusing on U.S. Latino consumers data. Padilla succeeds Maria Lopez-Knowles, who was recently promoted to Chief Marketing Officer of Entravision.
Spencer Graves, the morning show co-host from WSTW/Wilmington, is being credited for helping to catch a thief who was stealing items from unlocked cars. According to sister news radio station WDEL/Wilmington, Graves was walking his dog at 3:30am before going to work, when he observed a woman trying car handles of parked cars to see which ones were open. She would then enter the cars, looking for items to steal. Graves called the Wilmington police who arrested the 28-year-old woman.
iHeartMedia has appointed Kavi Halemane as VP/Digital Media for Premiere Networks. He will be based in New York, working closely with iHeartRadio's Product and Editorial teams. Halemane previously served as Executive VP/Digital for The Collective, a California-based artist/talent management and media firm, as well as being an advisor to the board of Turnstile Live, a live event app.
Music-streaming service Grooveshark has been permanently shut down. The service began in 2006, having users to upload whatever song they wished, allowing its 35 million users to stream the tracks for free. In 2011, music industry giants Universal, Warner, and Sony began legal actions to have the website stopped. According to re/code, a settlement was reached where no penalties would be paid, but the service would be shut down, the servers would be wiped clean of all music, and Grooveshark would urge music lovers to utilize legitimate, subscription services. READ MORE
As part of the company's transition from mostly broadcast to mostly digital, NPR has made nearly its entire digitized archive, over 800,000 pieces of audio content, available to be easily embedded on other websites. NPR has had some audio content online before, but embedding was offered only sporadically, until now.
(By Paul Weyland) While attending the University of Texas, I had several jobs. One of which was a men's store (haberdashery). The owner was a terrific salesman named Sol Ginsberg. He was a diminutive man with white hair and big black horn-rimmed glasses. He spoke with an Eastern European accent.
(By Curt Krafft) In radio, formats come and formats go. The change usually comes as a result of less-than-stellar ratings coupled with a drop in advertising revenue. Research is done, consultants are consulted, and a new format is chosen. The usual stunting is done to "confuse" the listener. And shortly thereafter the new format is on the air. The ratings go up, the advertising revenue increases, and everyone is happy. Sometimes that happens. Sometimes it doesn't.
(By Loyd Ford) Social media is personal. So when you tweak your social media content strategy, make it...personal. Be visual, make your photos entertaining, personal, and engaging. Use a content strategy so that you have balanced content that can interest a variety of people within your target, based upon their passions.
(By Matt Sunshine) Sales acceleration is a new term, but it's being thrown around a lot these days, so you may have heard it. Here's what it means: Sales acceleration (or revenue acceleration — the terms are interchangeable) is the practice of increasing the speed of the overall sales process. Essentially, it is the space that exists between your sales process and your buyer's journey.
(By Jeff McHugh) Even as a young boy, I was fascinated by stand-up comedy. My dad and I would sit in front of our huge floor console Zenith color TV and howl with laughter at comics like George Carlin and Don Rickles. I've seen most of the big-name comics today. I recently saw Amy Schumer, and as I watch each performance I wonder, "How on earth do they do that?"
(By Ronald Robinson) Clear skies on a blistering, Africa-hot, summer afternoon – a perfect time for another six-hour remote at one of the local appliance stores. That the turntables and mic stand were squashed into a tilted, rickety corner of one of the front display windows guaranteed another sweltering shift of natural and panic sweat. Plus, melting in public can be such a gripping learning experience.
Thanks to Robert Sobczak for sending us this Blast From the Past. This is Larry Anderson at WGR in Buffalo. As a teenager and president of his High School Radio Club, Robert set up tours of Buffalo Radio stations. He took this picture in 1979. Read More About This Blast From the Past...