Radio+Television Business Report
The value of iHeartMedia shares continues to reach new heights. On Friday, IHRT gained another 3% to finish at a fresh post-bankruptcy high.
The bigger news: IHRT is up 236% from exactly one year ago.
A review of the last 12 months for iHeartMedia shares shows that, aside from a momentary blip in June, the value of IHRT has steady grown since the Independence Day holiday of 2020, when a $6.65 closing price was seen.
Come Election Day 2020, a $10 closing price was seen by iHeart.
Then, the engines went into overdrive, with March 1 seeing IHRT’s first $15-level finish. By March 15, a $16.87 closing price came.
The following two months have been nothing short of exceptional for the nation’s largest audio media company on Wall Street. On Monday, intrasession trading pushed IHRT as high as $23.49, before settling at $22.90.
With a $22.64 opening price set to start next week as Upfront presentations begin for the television industry, iHeart’s spot at the marketer’s planning table is perhaps more of a possibility than ever.
It’s Friday night, and the De’Lacy track “Hideaway” is booming out of the speakers. It’s a song featured as part of the Club Classics show heard on national Hot Adult Contemporary network Heart, found at 106.2 MHz across London.
If the mid-1990s “banger” isn’t your style, there’s always contemporary dance tracks over on CHR network Capital FM; love songs on Smooth Radio; Friday Night ’50s on Gold; or L’Heure Exquise with Emma Johnson & John Lenehan on commercial Classical network Classic FM.
Still not satisfied? How about a little Elastica, Doves and classic David Bowie over on Radio X? What about Krept & Konan & WizKid offering up some U.K.-flavored hip-hop on Capital Xtra?
Music not your thing? “Leading Britain’s Conversation” is popular Talk network LBC discussing holidays to Portugal, now open from a COVID-19 travel ban.
No matter your choice, consumption to each of these eight radio brands means you’re supporting a British audio media giant that wants a greater stake in iHeartMedia.
Radio Advertising Bureau (RAB), BMI and the Mentoring and Inspiring Women in Radio (MIW) Group will stage the 13th annual “Rising Through the Ranks” program virtually for 2021.
The program will be split into five days and will be held each Tuesday of the month of August, from Noon-3pm Eastern starting August 3.
BMI will offer 20 scholarships for this year’s program, which will cover the cost of the professional development course designed to foster and educate current and emerging female radio managers within broadcast radio.
“Rising Through the Ranks is a priceless opportunity for our scholarship recipients and we are excited to be bringing the event back this year,” said RAB President/CEO Erica Farber. “With the tools and experience we’ve all had with virtual events, we know that this year’s program will be as engaging and inspiring as our in-person event.”
This year’s agenda and speaker lineup will be announced at a later date.
Scholarship applications and registration are available on www.rab.com and will be accepted April 26, through 6:00 p.m. CT on May 28, 2021. Scholarship recipients will be notified of their selection by the week of July 1, 2021.
Some 60 miles from Omaha is the town of Firth, Neb.
Here, a Class A Sports Talker is trading hands, with paperwork filed following the May 11 signing of an asset sale agreement.
MIAMI — “Our quarterly results demonstrate that Univision’s transformation is continuing to gain momentum.”
That’s a statement made Friday by Univision Communications CEO Wade Davis, as the privately held company focused on superserving Spanish-speaking Hispanic consumers released its first quarter results.
How did the company do in Q1? Adjusted EBITDA was up slightly, while its recently launched PrendeTV over-the-top offering is off to a roaring start.
No, Tony Stark has nothing to do with it.
But, it could prevent a super new way for audio media purveyors to profit from what AI experts at Veritone are calling “hyper-realistic synthetic voices.”
With pre-market trading not as brutal as after-hours action had been for The Walt Disney Co.‘s stock, investors are now perhaps looking beyond shaky Disney+ OTT subscriber rolls and less-than-hoped for theme park attendance and revenue by looking at other segments of the company.
Among them, of course, is Broadcast. And, the fiscal Q2 tale shows network growth on a balance beam with owned-station revenue slowdowns.
By Jeffrey Hedquist
Every day you can see and hear commercials that were created by committee: politically correct, watered-down, automatically written ads that offend no one…and motivate no one. Commercials that sound like…well, like commercials. They make you want to change the station, or at best, ignore the message.
As anticipated, the radio industry took “a very big hit “in 2020 due to the pandemic and subsequent cutbacks in overall spending activity.
Over-the-air advertising revenues dropped to $9.7 billion, a 23.6 percent decline from $12.8 billion in 2019.
That’s according to the first quarter edition of BIA Advisory Services’ 2021 Investing In Radio Market Report.
To little surprise, BIA also determined that Digital ad revenues at stations demonstrated their continued strength, posting only a slight decline to $939 million in revenue in 2020 versus $1 billion in 2019.
“Local radio stations have been feeling the impact of new competition for the past few years; unfortunately, the pandemic just exacerbated the problem and it will take some time to recover,” said Dr. Mark Fratrik, BIA Advisory Services’ SVP and Chief Economist. “The shining star continues to be radio’s online digital advertising revenues, which will outpace over-the-air growth this year and moving forward. Those broadcasting groups that have invested-in and oriented their companies toward digital will benefit faster from that foresight.”
Fratrik forecasts 2021 total local radio revenues to reach $11.7 billion, with $1 billion coming directly from online revenues; a 9.7% increase over 2020.
“Mirroring the economic climate in 2020, radio station sales fell to levels that hadn’t
been seen in years,” BIA notes.
Only 534 stations were sold in 2020 for an estimated value of $139 million — a
stark contrast from the 1,080 sold in 2011 for $1.1 billion.
NextGen TV provider Evoca is partnering with a skills-to-jobs marketplace to develop “a critically missing piece of national educational infrastructure for adult learners.”
It will see Evoca work with Unmudl to create “the first locally relevant television channel for adult learners seeking short-term courses and credentials to advance their job prospects and navigate the future of work.”
Unmudl and Evoca will curate and produce multi-platform programming and services to inform learners about training and job opportunities and to connect them with community and technical colleges, employers, and social supports.
This new channel, called Path, enables research and development opportunities for interactive experiences and “seamless handoffs” to educational providers and employers, extending Unmudl’s online marketplace to the new medium.
In partnership with others, the pair will design and test the effort in Phoenix and in the Idaho cities of Boise and Twin Falls.
Initial efforts as part of this collaboration include highlighting stories and voices of learners and their educational and career experiences, changing the narrative around skills and technical education based paths.
“Television has been a missing piece of the picture in reaching adult learners. We can actually do something about that with the reach, efficiency, capacity and interactivity of our platform,” said Evoca President/CEO Todd Achilles. “The current approach leaves many unaware of their options and their potential. We are excited to work with Unmudl and their collaborative network of community colleges and employers.”
In episode 437 of the show, Joe berated his hosts on-air for disrespecting him in some way and fired them.
On Twitter Joe seemed to indicate that he may be ending the show when he responded to a fan by saying, “There are millions of podcasts, ppl will survive.”
So far, the episode has only been officially released to his Patreon subscribers and the episode is titled “You Want It To Be One Way…”
— Podcast Business Journal
The last time ViacomCBS had anything to do with audio, CBS Radio was a part of CBS Corporation, and a reunification of CBS and Viacom hadn’t yet been consummated.
Guess what? ViacomCBS is talking audio. Only, the discussion is fully focused on podcasts.
And, iHeartMedia is involved.
Of all of the audio media companies to report its quarterly earnings results, one sticks out for its bold decision to dare to compare its Q1 2021 results to that of Q1 2019.
That would be Townsquare Media, where digital ad prowess is now propelling its stock in noteworthy ways.
The Walt Disney Company has ended its fiscal second quarter of 2021 with 103.6 million Disney+ subscribers.
Uh-oh. Disney+ in early March said it surpassed 100 million subscribers for the first time, and it appears the excitement over the over-the-top platform is slowing down.
Its shares now bear an aggressive 1-year target price of $4.13. Its publishing arm is performing well, and its non-secular spoken word AM Talk stations could win over listeners to the late Rush Limbaugh.
All seems great for Salem Media Group, yet its stock price is now two months into a decline that has put a firm break on a big Wall Street recovery.
Standard Media Index, known for its global advertising spend and pricing data, has just released key findings from its Q1 2021 “Anglo Market Report.”
It’s a comprehensive look at English-speaking markets, looking primarily at North America, Australia and New Zealand, and the United Kingdom but not Ireland.
In these locales, SMI finds, combined ad spend has lifted 4% above the total recorded in Q1 2020 and 1% above the pre-COVID Q1 2019 period.
From the south side of historic St. Augustine, Fla., sits a broadcast tower that’s home to a Class B AM with 230 watts after dark and 2kw when it’s light out. It uses an FM translator to give a little “revitalization,” too.
Now, both are heading to a new owner.
On March 1, a California company focused on how cable television companies “can maintain its relevance” in the coming years as subscription video-on-demand (SVOD) continues to gain market share voluntarily reorganized by seeking federal bankruptcy protection.
At the time, the company, MobiTV, stressed it was “committed to working with its lenders and stakeholders towards a speedy and successful resolution” of its filing for relief under Chapter 11 of the U.S. Bankruptcy Code.
It’s now known that the successful resolution to its fiscal woes is a sale at auction of its assets to the highest bidder. The winning bid went to the parent of HD Radio.
On Tuesday, Saga Communications shares rocketed upward by 30%. This immediately led to questions as to why that even CFO Sam Bush couldn’t answer, when contacted by RBR+TVBR.
Now, a SEC filing shows what led to the jump, and small retraction in share value seen Wednesday. And, it only presents more questions regarding Saga — and its largest shareholder.