Radio+Television Business Report

Subscribe to Radio+Television Business Report feed
The Financial + Regulatory Voice of Electronic Media
Updated: 1 hour 26 min ago

Gray-Operated Stations Renew A Nielsen Deal

Wed, 01/27/2021 - 09:59

Four stations operated by Gray Television via a shared services agreement with their licensee now have new measurement services pacts with Nielsen.

But, Gray had nothing to do with the contracts, as the stations’ owner is responsible for inking such deals.

The agreement was signed between Nielsen and American Spirit. It includes a new contract for Local TV measurement and Nielsen Ad Intel for FOX affiliate WDBD-40 in Jackson, Miss., and a renewal for Local TV measurement and Nielsen Ad Intel for FOX affiliate WSFX-26 in Wilmington, N.C.

In addition, dual FOX/ABC affiliate KVHP-29 in Lake Charles, La., recovering from strong 2020 hurricane damage to the city; and FOX affiliate WXTX-54 Columbus Ga., have signed new agreements for Nielsen Ad Intel.

Nielsen Ad Intel is a provider of competitive advertising intelligence information, tracking ad activity and spending across all local markets.

American Spirit Media, based in Charlotte, was founded in 2003 by Thomas B. Henson as Ottumwa Media Holdings.


Categories: Industry News

¡Qué Bello! Meet iHeart’s New D&I Leader

Wed, 01/27/2021 - 09:49

She joined iHeartMedia in October 2019 as SVP of Multicultural Sales, responsible for developing sales opportunities with key advertisers and their agencies across the company’s broadcast stations, digital, podcast, events and its Premiere Networks arm.

Now, this former Google U.S. Multicultural Sales Lead, with experience at Hulu following a nearly eight-year run in sales at NBCUniversal Telemundo Enterprises, is iHeart’s D&I leader.

Yesenia Bello has been selected to serve as iHeartMedia’s first SVP of Diversity and Inclusion. She reports to Chief HR Offier and Chief Diversity Officer Michele Laven, who Bello will work closely with “to drive comprehensive long-term and measurable diversity and inclusion strategies across iHeartMedia.”

Bello will also be charged with the development and implementation of specific Diversity and Inclusion goals and solutions for employee, community, client and agency engagement that drive inclusive behaviors and business practices.

Further, iHeart says Bello will spearhead the development and implementation of inclusion strategies for iHeart that focus on employee retention and development, including identifying and showcasing existing high potential talent across iHeartMedia and promoting internal mobility; collaborating on ongoing Diversity and Inclusion training and education for employees and leadership; and attracting dynamic, diverse and multi-generational talent across the company’s spectrum of audio brands and platforms.

There’s more: Bello will be tasked with creating opportunities to engage and collaborate with iHeartMedia’s advertising and business partners on Diversity and Inclusion initiatives; supporting the advertising sales and marketing teams on Diversity and Inclusion client and agency conversations; working closely with iHeartMedia’s sales and marketing teams on sales and marketing materials; and partnering on Diversity and Inclusion events and projects supporting various iHeartMedia businesses across the country.

“At iHeart, we know that supporting our company’s diverse voices while continuing to bring in new ones is essential to our company’s success,” Laven said. “Throughout her career, Yesenia has made it a priority to understand the needs and goals of multicultural communities. This, combined with her deep knowledge of our company, makes her the right person to take on this newly created role.”

Bello added that she was excited to move into “this critical new role” at iHeart. “I’ve seen iHeart’s commitment to diversity and inclusion up close since joining the company in 2019, and I’m looking forward to working closely with our entire company on new, exciting initiatives to continue to enhance diversity, equity and inclusion at iHeart.”

Bello immigrated to the United States from the Dominican Republic at the age of 11. Upon graduating from CUNY-Staten Island in 2003, she traveled to Rome for a study abroad program. When she returned, she joined Telemundo as a sales assistant working on the network level and for Mun2, now Universo. She’d rise to a sales planner and eventually to a sales associate.

In December 2011, Bello departed to become Hulu’s Multicultural NSM, a role she’d hold for nearly five years.

In August 2016, Bello joined Google to lead multicultural sales, exiting in October 2019 for her most recent role at iHeart, in New York.

Categories: Industry News

‘The Media Sales Report 2020’: Expectations for Managers

Wed, 01/27/2021 - 09:30

The Center for Sales Strategy (CSS), a sales performance company, has released its 2020 Media Sales Report, an annual review of data from two surveys conducted in the final three months of last year.

The report studies the media landscape over the past year, including the expectations for sales managers and the strategies employed by media sales professionals to assess their impact across five key topics: Sales Department Structure, Training and Development, Setting Appointments and Sales Process, Sales Enablement, Culture and Industry Outlook, and the effects of COVID-19 on the Media Sales landscape.

Please Login to view this premium content. (Not a member? Join Today!)

Categories: Industry News

Nexstar Finally Gets Antietam To Add A D.C. DMA Property

Wed, 01/27/2021 - 09:15

It has been absent from the channel lineup of a small MVPD ensconced within the vast Washington, D.C. DMA since the end of 2018.

As of Wednesday, Jan. 27, 2021, this Nexstar Media Group property once owned by Quorum Broadcasting is back on the lineup.



Please Login to view this premium content. (Not a member? Join Today!)

Categories: Industry News

Mildred Carter Mentoring Program Application Window Extended

Wed, 01/27/2021 - 00:02

The Mentoring & Inspiring Women in Radio (MIW) Group is extending the application window for the 2021 Mildred Carter Mentoring Program.

The new deadline is Friday, February 5.

Established in 2002, the MIW’s heritage annual mentoring initiative connects mentees with accomplished women recognized as leaders, mentors, and game-changers within all aspects of radio broadcasting. vCreative, the nation’s leading provider of media workflow solutions, is sponsoring the 2021 Mildred Carter Mentoring Program for the second consecutive year.

Four candidates from the radio broadcasting industry within the sales, marketing, programming, and digital disciplines will be selected for the 2021 program.

For mentee criteria, and instructions on how to apply, please visit


“The MIW’s Mildred Carter Mentoring Program has been instrumental in providing guidance, leadership, and bridging connections within the industry,” said 2009 mentee and mentoring program chair Lindsay Adams, who serves as Entercom’s VP/National Partnerships. “From personal experience, I can attest It’s an invaluable experience that helps shape and curate career paths and potential.”

Jinny Laderer, founder and CEO of vCreative, adds, “Investing and supporting the personal and professional development of the next generation of female leaders in radio is something I am truly passionate about, and I look forward to watching the 2021 MIW Mildred Carter mentees continue to excel in their careers.”

The MIW Group Mentoring Program is named in memory of Mildred Carter, who, along with her husband, Andrew “Skip” Carter, founded the first African American owned radio station in the U.S. in 1950, when they turned on KPRS Kansas City, Missouri. Mrs. Carter ran the Carter Broadcast Group for many years after the death of Skip Carter, before turning over control of the company to her grandson, Michael Carter in 1987.

Categories: Industry News

Entry Window Opens For NYF Radio Awards

Wed, 01/27/2021 - 00:02

New York Festivals® Radio Awards, established in 1982, is now accepting entries.

Every year, NYF Radio Awards carefully evaluates and updates the category roster to provide the most current categories to reflect the innovative content produced in today.

“In a year marked by disruption of every kind, New York Festivals is implementing additional categories for social justice across all genres,” said Rose Anderson, VP & Executive Director of New York Festivals Radio Awards. “These categories spotlight storytellers who are using all of their creativity to engage with their listeners on this critical topic.”

New categories for 2021 include: Best Social Justice Report, Social Justice Reporting, Social Justice Documentary, Best Regularly Scheduled Social Justice Program, Best Social Justice Special, Social Justice Promo, Best Digital Social Justice Program, Social Justice Podcast, and Social Justice Student Content.

For a complete list of the 2021 Radio Awards Categories, click HERE.

This year is the eleventh year of NYF’s strategic partnership with NAB Show, the ultimate marketplace for people passionate about media, entertainment, and technology. All attendees will have access to the multi-day NAB event which is the world’s largest media entertainment marketplace.

“We will be honoring Radio winners at NAB Show in Las Vegas in October,” Anderson said. “Combined with our TV & Film Winners, it will be a celebration of innovative storytellers across all platforms.”

The Radio Awards receives entries from radio stations, networks, and independent producers from over 30 countries around the globe. The mission of the competition is to honor the achievements of the men and women who make up the global audio storytelling community.

NYF invites award-winning industry leaders from around the world to become members of their world-class Radio Awards Grand Jury. The 2021 Grand jury will be set in the coming months. Those jurors will include some of the most world’s recognizable voices and captivating content producers in the radio industry. Entries are judged on production values, organization, presentation of information, creativity, and use of the medium.

All Entries in the 2021 competition will be judged online by NYF’s Radio Awards Grand Jury of 200+ producers, directors, writers, and other creative media professionals from around the globe. Nominated Finalists are judged by a panel at the United Nations for the UNDGC Awards. Award-winning entries will be showcased on the Radio Awards winners gallery.

The deadline to enter the 2021 Radio Awards competition is May 20, 2021.

To enter please click HERE.

Categories: Industry News

Simington Appoints Advisors, Assistants

Tue, 01/26/2021 - 16:05

The newest FCC Commissioner has named his wireless advisor and chief of staff while also selecting a media advisor, confidential assistant and staff assistant.

At the same time, he’s already saying farewell to two individuals who helped him set up his office.



Please Login to view this premium content. (Not a member? Join Today!)

Categories: Industry News

The InFOCUS Podcast: Greg Palm, USSI Global

Tue, 01/26/2021 - 15:59

The C-Band, an essential for many broadcast TV and radio stations’ programming services, is in the midst of a four-year transition that’s moving at full speed. Some are likening this move to the TV repack process.

If you’re not wholly familiar with the importance of the C-Band, this InFOCUS Podcast, presented by DOT.FM, is just for you!

In just 10 minutes, Greg Palm, the Vice President of Broadcast and Network Solutions for USSI Global, shares with RBR+TVBR Editor-in-Chief Adam R Jacobson how satellite networks play a vital role in the broadcast content acquisition, distribution and delivery chain; the central purpose of the C-Band transition, and how broadcasters can work with companies like USSI Global to operate and maintain their systems.

Listen to “The InFOCUS Podcast: Greg Palm, USSI Global” on Spreaker.

Categories: Industry News

‘BETQL’ Launch Powers Up ETM On Wall Street

Tue, 01/26/2021 - 15:48

Entercom Communications on Monday launched an audio network that includes broadcast radio stations and its platform expressly for the sports gaming community.

It followed the November 2020 closing of Entercom’s all-cash purchase of sports data and iGaming affiliate platform QL Gaming Group (QLGG).

Investors liked the programming move. With 15 minutes remaining in Tuesday’s trading on Wall Street, ETM had climbed to its second-highest value in the last 12 months.

At 3:45pm Eastern, Entercom shares were priced at $4.42, up 18 cents.

Volume was slightly higher than average, at 2.80 million shares.

After an initial drop in value at the Opening Bell, ETM took off like a rocket, reaching $4.46 at 10:26am Eastern.

Trading softened slightly, only to pick up again in mid-afternoon.

As the Closing Bell approached, ETM’s activity increased, as did the slight price fluctuation.

Entercom’s short-term, mid-term and long-term performance outlooks are all “favorable” to Wall Street analysts.

Categories: Industry News

TV’s Biggest Advertisers Stick With The Plan

Tue, 01/26/2021 - 15:35

There’s little movement of significance in the latest Spot Ten TV report from Media Monitors.

And, that’s a good thing as it demonstrates the ongoing commitment of several brands to campaigns involving free-to-air television stations.

Please Login to view this premium content. (Not a member? Join Today!)

Categories: Industry News

No Rest for Rosenworcel As Feb. Open Meeting Agenda Arrives

Tue, 01/26/2021 - 15:30

“Congress has given the FCC its marching orders, and we are not wasting time.”

Those are the words of acting Chairwoman Jessica Rosenworcel, who released on Tuesday (1/26) the agenda for the Commission’s February Open Meeting.

It will be her first heading the agency.

Taking a cue from her predecessor, Ajit Pai, Rosenworcel released “Notes from the Acting Chairwoman” that follow his lead in offering a preview of what’s to be discussed at the next Open Meeting.

“There are significant tasks for the agency in last month’s new appropriations law,” she said, outlining what will be immediately taken up by the Commission, which presently is comprised of two Democrats and two Republicans. “They include helping Americans afford broadband, expanding access to telehealth technologies, building better maps that reflect where high-speed service is and is not, and improving the safety and security of our nation’s communications.”

Rosenworcel adds that the FCC’s challenge as of today “is to couple Congress’s vision with strategies for successful implementation, so we’re going to hit the ground running.”

And, she adds, “It’s not time to think small—and we can’t afford to act slowly either.”

That’s why I have asked the FCC staff to prepare presentations for the Commission’s February Open Meeting on the plans for each of these tasks.

What’s on deck? Progress on the effort to create an Emergency Broadband Benefit Program, next steps for the agency’s COVID-19 Telehealth program, the work the agency is doing to improve its broadband maps, and two rulemakings seeking comment on security initiatives from Congress are on the agenda.

Categories: Industry News

MFM 2021 CFO Summit, A Virtual Affair, Selects Co-Chairs

Tue, 01/26/2021 - 15:00

The EVP/CFO of the Radio Advertising Bureau, the VP/CFO of Graham Media Group, and the VP/Corporate Controller of Hubbard Broadcasting have been chosen to serve as the co-chairs for the Media Financial Management Association’s (MFM’s) 2021 CFO Summit.

Scheduled for March 11-12, this year’s two-day event will be held virtually.

And, it will be led by the RAB’s Van Allen, Graham executive Kimberly Parker, and Paul Yates (pictured), of Hubbard.

Now in its 15th year, MFM’s annual CFO Summit is an opportunity for senior media finance professionals to exchange thought leadership as they discuss issues facing the industry. Interactions with peers and expert speakers also result in real solutions to the challenges that media industry CFOs face daily.

Confirmed topics for 2021 include a look at live events now being constrained by pandemic restrictions, a media-specific economic overview, a deep dive into automotive industry trends, post-pandemic revenue opportunities, and a CFO roundtable.


Categories: Industry News

Scripps Selects A Ex-Turner Research Head As CRO

Tue, 01/26/2021 - 14:45

Most recently he provided brand strategy, consumer insights, and custom market research as a consultant for NBCUniversal, Disney, Crown Media and the Weather Channel.

Before that, he previously spent 14 years directing all programming and marketing analysis for Turner Entertainment Networks as SVP/Research.

Now, he’s the new Chief Research Officer at The E.W. Scripps Company.

Please Login to view this premium content. (Not a member? Join Today!)

Categories: Industry News

Jeff Greenfield Takes A ‘Buy Side’ Role at WideOrbit

Tue, 01/26/2021 - 12:35

He was the co-founder and COO of C3 Metrics, which he launched in May 2008 in Portsmouth, N.H.

Now, Jeff Greenfield, who in June 2020 became a strategic advisor to Overnight Dealer, has joined a media technology company devoted to making it easier to buy and sell advertising.

Please Login to view this premium content. (Not a member? Join Today!)

Categories: Industry News

CBS Stations Head, O&O News Leader Suspended On Misconduct Claims

Tue, 01/26/2021 - 11:00

It was a story first discussed in a front-page report penned by Meg James in the Sunday edition of the Los Angeles Times.

Now, the entire broadcast TV community is digesting the news that the President of CBS Television Stations and the stations’ SVP of News have been suspended while parent ViacomCBS investigates an increasing number of allegations against them for gender and racial misconduct.


ViacomCBS has suspended the two powerful heads of its TV station group, Peter Dunn and David Friend, amid widening allegations that the pair cultivated an environment that included bullying female managers and blocking efforts to hire and retain Black journalists.

In a statement late Monday, CBS said the two veteran executives were “placed on administrative leave, pending the results of a third-party investigation into issues that include those raised in a recent Los Angeles Times report. CBS is committed to a diverse, inclusive and respectful workplace where all voices are heard, claims are investigated and appropriate action is taken where necessary.”

CBS took action just one day after The Times published an investigation that detailed how senior executives disparaged CBS station employees in Philadelphia, the nation’s fourth-largest media market. Dunn ran the Philadelphia station from 2002 through 2004 before several promotions. For the last 11 years, he has been in charge of CBS’ 28 television stations across the country, including KCBS-TV Channel 2 and KCAL-TV Channel 9 in Los Angeles.

The division has 2,800 employees and provides local news for millions of viewers who live in cities where CBS owns a TV station, including Los Angeles, San Francisco, Dallas, Chicago and New York.

Hours after The Times’ published its investigation Sunday, the National Assn. of Black Journalists met with high-level ViacomCBS executives, including CBS Entertainment Chief Executive George Cheeks and ViacomCBS Executive Vice President Marva Smalls, who oversees the company’s diversity and inclusion efforts. During that meeting, NABJ leaders said they raised other complaints and demanded that CBS fire Dunn and one of his lieutenants, Friend, the senior vice president for news.

In a statement, NABJ criticized CBS’ hiring practices at its flagship TV station, WCBS-TV Channel 2 in New York, saying the station only recently hired a full-time Black male reporter in New York after five years without one. NABJ also said that WCBS has just one full-time Black female reporter and only one Black news producer in New York. In addition to overseeing the entire CBS TV stations chain, Dunn has managed WCBS since 2005.

Cheeks, who took over operations of the legendary broadcasting company last March, sent a note to the CBS staff a little before 7:30 p.m. Pacific time to announce the move, acknowledging that “these have been a difficult few days.”

Cheeks said that CBS Chief Operating Officer Bryon Rubin would assume the leadership of the TV station group on an interim basis. “Bryon is very familiar with your business and ready to support your efforts.”

He also noted the meeting with the NABJ delegation.

“We pledged to continue a dialogue with the NABJ on our best path forward,” Cheeks wrote.

The Times report shed new light on CBS’ $55-million purchase of a small independent television station, WLNY-TV Channel 55 on New York’s Long Island in 2011 — a deal that included a membership in the ultra-exclusive Sebonack Golf Club in Southampton, N.Y. The founder and previous owner of WLNY, entrepreneur Michael Pascucci, threw in a membership at his 300-acre retreat as part of the TV station sale.

CBS said the Sebonack membership belonged to the company but that it was put in Dunn’s name because the club did not have corporate memberships. The company said the membership was used to entertain clients and business partners.

Current and former CBS executives also questioned the thoroughness of CBS’ high-profile 2018 investigation into corporate culture, saying the outside law firms were aware of allegations about Dunn and Friend. The Times review of court filings, CBS’ internal communications and interviews with two dozen current and former CBS television station employees found that many were troubled by the outcome of the investigation and questioned the company’s commitment to cleaning up its culture.

“Senior management at the time addressed the situation with Mr. Dunn, and the company has not received any complaints about his conduct during the period since then,” CBS said last week.

Dunn declined to comment on the allegations.

CBS earlier defended its inclusion efforts at Philadelphia TV station KYW Channel 3, saying 45% of the station’s on-air reporters and anchors are Black, Indigenous or other people of color.

“I believe that I — and our stations — have a strong track record of hiring, supporting and placing women and BIPOC journalists in important roles as anchors, reporters and news directors,” Friend said in an earlier statement. “These comments I may have made about our employees or prospective hires were only based on performance or qualifications — not about anyone’s race or gender.”

Two former senior Philadelphia station executives — Margaret Cronan and Brien Kennedy — told The Times that Dunn made disparaging comments about the station’s popular evening anchor, Ukee Washington, who is a distant cousin to actor Denzel Washington. Among the complaints, Dunn allegedly called Washington “just a jive guy” and criticized Washington’s dancing.

After the report, the Philadelphia Inquirer and the Philadelphia Tribune wrote about the situation. CBS’ KYW also took a stand with sports anchor Don Bell, during the 5 p.m. newscast, calling Washington “our quarterback and the crown jewel of Philly…. The good people at this station reject racism and misogyny in all its forms — no matter where or who it may come from.”

Washington has been a fixture at KYW since the mid-1980s and was elevated to the lead anchor spot when Kennedy, the former general manager, arrived at the station in 2015. Before that, Washington spent 19 years as morning anchor and a decade as sports anchor.

In addition to the comments about Washington, Dunn allegedly refused to approve a contract extension for another Black anchor, Rahel Solomon, a Philadelphia native who served as KYW morning anchor for more than two years. Kennedy, in an interview, said that in a two-plus-hour phone call, Dunn raised “bizarre objections,” such as saying, “I hate her face.”

Solomon left CBS in 2019 for CNBC.

“We are heartened by our discussion with George and Marva that there will be real, substantial and substantive changes at CBS to ensure that it is a welcoming place for Black and other journalists of color to work, rise and succeed,” Roland S. Martin, NABJ Vice President for Digital, said in a statement earlier Monday.

Categories: Industry News

Apollo’s Black Mark: CEO’s Jeffrey Epstein Ties Lead To Resignation

Tue, 01/26/2021 - 10:15

Rewind the clock by a decade, and Leon Black made headlines in RBR+TVBR because of the strong dislike of the billionaire by Sirius XM shareholders. At the 2010 annual shareholders’ meeting, more voted against Black than for him as he sought to remain on the Board of Directors.

Who knew then that the founder of Apollo Global Management, which today has a majority stake in Cox Media Group, would end up emerging as a despised individual who would end up stepping down due to his ties to one of the most infamous American financiers of the modern era?

Please Login to view this premium content. (Not a member? Join Today!)

Categories: Industry News

Urban One Shares Rises On Big TCS Buy

Tue, 01/26/2021 - 09:15

On a historical five-year trend chart, Urban One‘s stock performance looks like a hospital patient who flatlined and suddenly received a powerful EKG to revive the heart.

After years of languishing between $1.25 and $3.50 per share, UONE in mid-June 2020 rocketed to $36.30 — only to dip to $3.48 by Sept. 7 — as “Black Lives Matter” protests ignited daytraders eager to capitalize on potential new interest in Urban One’s assets.

Since late September, Urban One shares found a new normal that, while much less in value than that mid-June burst, remains significantly higher than where UONE was one year ago.

Now, UONE is poised to get a further bump in its price — thanks to a big investment by an investment fund focused on media, technology and communications companies.

Please Login to view this premium content. (Not a member? Join Today!)

Categories: Industry News

‘Insider Tips (and Secrets) to Your Audio Processor’

Tue, 01/26/2021 - 06:59

Telos Alliance, the Cleveland-based broadcast audio technology company, has scheduled an Omnia webinar for February 3 that will offer participants the best advice on how to get their best on-air sound … “with confidence!”

The session, “Get Your Best On-Air Sound…with Confidence! Insider Tips (and Secrets) to Your Omnia Audio Processor”, is scheduled for 1pm Eastern on that Wednesday.

“Whether you already own an Omnia processor or are considering purchasing one, there is a world of untapped potential you may not even know about, waiting to be unlocked,” Telos Alliance says.

The session is to be hosted by Kirk Harnack, who will chat with Omnia experts and power users to bring participants “the little-known tips and insider secrets to getting the very best sound from your processor while exposing some of our favorite features.”

Those interested in attending the webinar can sign up here.

If you can’t make this time, register anyway and Telos Alliance will send you a recording of the webinar direct to your inbox.

Categories: Industry News

The COVID-19 Surge in Demand for Premium Audio Products

Tue, 01/26/2021 - 06:04

Over recent years, the audio market has witnessed a progressive shift to more premium products. Take, for example, headphones and models such as the Apple AirPods Pro, along with the Sony WH-1000XM series.

These, Futuresource Consulting notes, have helped democratize higher audio quality to the mass market.

This trend, which can be seen across most audio product categories, including wireless speakers and soundbars, took another turn in 2020.

Consumers homebound due to the COVID-19 pandemic have created a unique opportunity for premium audio product demand to thrive, Futuresource notes. “With movies and music consumption playing a central role in entertaining consumers during lockdown, having good audio quality at home has never been as important,” it says.

In the soundbar segment, consumers trying to replicate a cinema experience at home, with notably premium soundbars fitted with Dolby Atmos or DTS:X, has driven demand for models costing $1,000+.

In line with this, shipments have risen significantly, up 32% year-on-year in the period Q1-Q3 2020, according to Futuresource’s Home Audio report.

“People spending less on out-of-home activities such as going on holiday or eating out has freed up discretionary income to spend on high-end audio products,” Futuresource finds, noting that 2020 was a year where consumers who always wanted to invest in products such as a nice pair of speakers, a high-end amplifier or a turntable could justify this purchase, which ultimately drove average selling prices up across many audio product categories.

Record-high demand has also been seen for luxury audio products costing over $5,000 in 2020.

“The surge in vinyl consumption during lockdown has triggered a strong interest for luxury turntables, especially as wealthy individuals had more funds available to spend on ultra high-end turntables that can easily cost over $20,000,” Futuresource says.

The recently published Luxury Audio Report from Futuresource notably highlights that consumer spend on turntables costing over $5,000 was set to witness an impressive growth of 15% in 2020.

Another strong testament to this shift to premium devices is Apple venturing into high-end headphones with the AirPods Max, which retails at $549. “It demonstrates that Apple is confident that consumers are increasingly willing to pay for high-quality sound, but also for products using exquisite materials and integrating more tech features,” Futuresource says.

While 2020 provided exceptional circumstances, the COVID-19 pandemic is expected to have a long-term impact on consumers’ lifestyles, notably with remote working set to become more common, and with commutes and business travel also expected to reduce. The post-COVID world is likely to be more home focused, creating more opportunities for consumers to listen to music and watch movies at home, which will ultimately place a stronger emphasis on the quality of home audio products.

Futuresource, consequently, anticipates this trend to drive long-term growth for high-end audio products, especially as consumers who have experienced high audio quality are usually more likely to upgrade to perfect their listening experience or access the latest tech features.

Categories: Industry News

Technicolor Post Purchased By Picture Shop Parent

Tue, 01/26/2021 - 05:55

LOS ANGELES — Streamland Media, formerly Picture Head Holdings LLC, has entered into an agreement to acquire the Technicolor Post business.

The acquisition, which is subject to customary closing conditions, is backed by Trive Capital and Five Crowns Capital and is expected to close in the first half of 2021.

Streamland Media operates through integrated business units around the globe, including industry leaders Picture Shop, Formosa Group, Ghost VFX, Picture Head, The Farm Group, and Finalé Post.

These distinct businesses support feature film, episodic, interactive and emerging forms of entertainment by providing customized products for use in picture and sound finishing, visual effects and marketing.

The Technicolor Post business will be merged into Streamland Media’s existing portfolio of businesses. There will be no interruption to Technicolor Post’s clients during this integration, and all employees dedicated to Technicolor Post will be part of this transaction.

“The strategic sale of Technicolor Post is part of our long-term vision for Technicolor Production Services to focus on VFX and animation for the entertainment industry, and creative services and technologies for the advertising industry, which provide the maximum value to our clients,” said Technicolor CEO Richard Moat. “We will continue to focus on these core areas through our award-winning creative studios The Mill, MPC, Mr. X and Mikros Animation.”


Categories: Industry News