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It was an unusually busy Thursday morning for radio broadcasting industry analysts and investors, as both Townsquare Media and iHeartMedia released their third quarter financial results and held earnings calls prior to the Opening Bell for U.S. financial markets.

While Townsquare Media’s earnings are fueled by digital growth, iHeartMedia, the nation’s largest owner of AM and FM properties, also enjoyed strong digital audio revenue in Q3. Podcast revenue was particularly noteworthy.

That said, Multiplatform Group revenue remains the bulk of iHeart’s total dollars, and the growth struggle will likely be a key focal point of iHeart’s C-Suite as 2024 arrives.

 

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At first glance, one may be disappointed with the third quarter financial report issued early Thursday by “digital first” media and digital advertising sales-focused Townsquare Media. The company swung to a net loss of $36.5 million from net income of $2.8 million. However, when examining the results on an adjusted basis, the owner of radio stations in markets such as Trenton, N.J.; Buffalo; Fort Collins, Colo.; and El Paso, Tex., experienced a small net income dip to $8.25 million ($0.46 per diluted share) from $8.3 million ($0.47). Given the poor year-over-year comps thanks to a bonanza of political dollars one year ago, investors may consider the Q3 results from Townsquare a success.

For the three analysts who cover Townsquare, the EPS consensus estimate was $0.32.

But, Townsquare fell short of their revenue estimate, with a consensus figure of $116.18 million presented by the analysts polled by Yahoo! Finance. Townsquare’s actual Q3 revenue came in at $115.1 million, down 4.6% from $120.64 million. On an ex-political basis, net revenue fell 3.8%, to $114.48 million from $119.05 million.

On an adjusted basis, Operating Income slipped to $33.78 million from $36.65 million. Adjusted EBITDA came in at $27.18 million, down from $30.91 million in Q3 2022.

One reason the adjusted results are key to understanding the fiscal health of Townsquare during Q3 2023 concerns impairment charges. As CEO Bill Wilson has explained in previous quarters, the decision of companies to take them may negatively impact the results. However, it is a non-cash line-item bookkeeping maneuver designed to reflect a reduction in the carrying value of its broadcast assets.

One can debate the continued practice of impairment charges, and how an investor may frown on putting money into an industry with long-term station valuation trends that continue to point downward. For Townsquare, a $30.97 million impairment charge is on the books for Q3 2023; in Q2 2022, even with robust political dollars for broadcast media, a $10.3 million charge was taken.

A ‘RESET YEAR’ FOR TOWNSQUARE INTERACTIVE

Speaking on the company’s earnings call, challenges at its Townsquare Interactive arm were addressed by Wilson, with “important changes to optimize and improve its customer service model,” moving to a pooled model, among the enhancements seen in recent weeks.

This, he said, led to favorable ratings of four stars on Google reviews.

Long-term growth and success is anticipated, thanks to “careful expense management,” Wilson added.

Looking at the three revenue segments in-depth for Townsquare:

• “Subscription Digital Marketing Solutions” revenue declined by 12.6%, to $20.26 million from $23.2 million.
• Digital Advertising, therefore, is the growth engine for Townsquare, with 5.5% year-over-year growth putting the Q3 number at $39 million, rising from $36.99 million.
• Broadcast Advertising fell by 8.6%, to $54.18 million from $59.29 million, but the “steep decline” in National advertising had less of an impact on Townsquare’s radio stations than its peers, Wilson noted on the call.

Political advertising dollars were down 60.5% to $627,000, from $1.59 million in Q3 2022.

CASH IS KING

In prepared comments ahead of its now-traditional sunrise-hour earnings call for analysts and shareholders, Wilson remarked that Townsquare’s Q3 results met its previously issued guidance. He also took note of Townsquare’s strong cash position. Yes, cash and cash equivalents, however, slipped to $38 million as of the end of Q3 from $43.42 million at the close of 2022. But, Wilson explained, “We were able to repurchase and retire approximately $14 million of our Unsecured Senior Notes at a discount during the third quarter, bringing our year-to-date total bond repurchases to $27 million.” In addition, Townsquare repurchased approximately 94,000 Class A shares in the third quarter as the company has
repurchased 1.7 million shares year-to-date.

Wilson also noted how, unlike its audio content creation and distribution company peers, Townsquare continues to pay “a high-yielding dividend” while also investing in its business. For the current quarter, Townsquare’s Board of Directors approved a quarterly cash dividend of $0.1875 per share, payable on February 1, 2024 to shareholders of record as of the close of business on January 2, 2024.

A QUESTIONABLE FOURTH QUARTER FOR TOWNSQUARE?

Looking ahead, Q4 net revenue is expected to be between $110.6 million and $112.6 million; the consensus estimate of the 4 analysts polled by Yahoo! Finance is $116.76 million. Adjusted EBITDA is expected to be between $24.8 million and $25.8 million, Townsquare said.

As of September 30, Townsquare Media had a total of $38 million of cash and cash equivalents and $503.6 million of outstanding indebtedness, representing 4.86x and 4.49x gross and net leverage, respectively, based on Adjusted EBITDA for the twelve
months ended September 30, 2023, of $103.6 million.

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Fred Jacobs helps us make the most out of that precious automotive real estate.

We talk to FCC watchers and ask what we might expect from the commission, beyond the net neutrality push, now that the chairwoman has a Democratic majority in place.

Josh Bohn preaches the religion of backups.

And we feature the recipients of the Radio World Best of Show Awards at the recent IBC Show.

Read it here.

And you can find other recent issues in our website Resource section.

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Dr. Tine Hicks and his brother Leigh, owners of WBTE Radio in Windsor, N.C., share this interesting variable coil used for HF (3 to 30 MHz) applications.

This was manufactured long ago by Barker & Williamson of Upper Darby, Pa. In the first photo, note the capacitor plates below the coil assembly.

This unique variable coil assembly was manufactured by Barker & Williamson.

The second image shows how the movable arm can couple more or less of the RF signal. 

Note how the pivoting coil can change the network coupling.

Do you have an interesting piece of radio or electronics history at hand? Send us a photo and tell us about it. Email johnpbisset@gmail.com.

I can and you can too

Scott Todd, who describes himself as a classic radio gear nut, loved the article on the refurbished Gates Biamote that we published in September. 

If you are into restoring old gear, Scott points you to Hayseed Hamfest LLC. The company can build pretty much any type of can capacitor for you. 

Scott notes, however, that defective caps can also be opened and re-stuffed. There are videos on YouTube if you are interested.

Kinky college story

Walt Konetsco is a former Foreign Service officer and field engineer for Voice of America. The photo of crushed coax that Larry Wilkins shared last month brought a smile to Walt’s face, along with memories of a situation he’d experienced years ago. 

Walt had his own consulting business and had contracted with a station to install a satellite receiving system. He dutifully installed and sighted the dish, but the station general manager felt he could save money by having a college student on staff run the coax cable from the dish to the interior of the building. 

When Walt came back to complete the installation, the coax had indeed been run and buried as he had instructed. But Walt installed the connectors on each end and fired it up. Nothing! 

He checked the receiver at the antenna and got an operational signal, leaving the coax as the likely source of the problem. Well, the college student came back and dug up the coax. It had multiple kinks, just like Larry’s photograph and with additional crimps and multiple damaged locations along the line. 

When Walt told the GM that he would have to buy a new expensive run of cable to replace the damaged one, he suddenly realized it would have been far less expensive had he simply paid Walt’s hourly rate. 

Surge solution

Years ago, Kenneth Lundgren was designing a remote-control console for a CCTV system that used a twisted pair cable to transmit a digital control signal up to a mile away. 

The signal went to an IC that would be susceptible to transients on that long twisted pair. Kenneth and his team had an internal standard to test for this. It consisted of charging a 4.7 uF capacitor to 600 volts and then discharging that capacitor into the input terminals. That’s almost 1 joule of energy.

This isn’t huge but enough to zap any semiconductor and to fry a 1/4-watt resistor or a Zener diode. Kenneth’s team needed a protection circuit that could dissipate the 1 joule and at the same time limit the transient voltage to 5 volts. 

They developed a two-stage circuit to separately absorb most of the energy and then limit the voltage. One can use a spark gap, but they are expensive. Their solution was to use a good old NE-2 neon bulb, which works just fine. 

The NE-2 would absorb the 1 joule but allows about a 70-volt transient to pass. The NE-2 was placed from each input terminal to chassis ground. That was followed by a series 150-ohm resistor and then a 5-volt Zener diode connected to the printed circuit board (PCB) ground. You don’t want the NE-2 ground to go to the PCB ground. 

It worked every time, Kenneth reports. If you repeat the test too often, the NE-2s will fail eventually; but for infrequent transients, the circuit does the job. 

Wisdom from the bird lady

That photo we published in July of what appears to be nest material in a transmitter room continues to cause chirping and clucking.

Bill Ruck, projects and contract engineer in San Francisco, shared the photo with his wife Sjoban. She reminded him that a nearby abandoned AT&T Trans-Pacific receive building in Point Reyes, Calif., has a continuing problem with broken windows and birds getting in. The staff at Point Reyes National Seashore eventually fix the windows, although they have been known to screw 1/8-inch acrylic across other broken windows to keep birds out. 

Birds in a building leave guano everywhere; and when we zoom in on our original photo we can see bird excrement all over the floor, so despite speculation to the contrary, this does appear to be an avian intrusion. But of what kind?

Bill points out that while osprey nest on towers all the time, they’re not cavity nesters and presumably wouldn’t go through an opening like the coax cable ports we discussed.

The mystery continues.

Workbench submissions aren’t for the birds! In fact they’re encouraged and qualify for SBE recertification credit. Email johnpbisset@gmail.com.

[Read Another Workbench by John Bisset]

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Eight days after the company known for its generative AI capabilities for radio and TV welcomed the former Chief of Police of Anaheim, Calif., Jorge Cisneros, as an advisor, Veritone released its third quarter 2023 results.

The company fell short of analysts’ estimates on revenue and greatly missed on its earnings per share, sending stock prices tumbling on Wednesday.

Revenue in Q3 came in at $35.13 million, down from $37.2 million. Analysts polled by Yahoo! Finance predicted earnings of $35.86 million. The four analysts also said earnings per share would come in at -$0.18. Instead, Veritone’s net loss widened to $20.91 million (-$0.57) from $4.89 million (-$0.13).

That triggered a sell-off on the Nasdaq exchange of “VERI,” which finished Wednesday’s trading down 24.54% to $2.06 per share. This compares to $9.03 on the final day of January 2023.

For Q4, the portrait for Veritone is equally glum:

• Revenue is expected to be in the range of $33.0 million to $34.5 million, as compared to $43.9 million in the fourth quarter of 2022.
• Non-GAAP net loss is expected to be in the range of $5.5 million to $6.5 million, compared to non-GAAP net loss of $2.2 million in the fourth quarter of 2022.

With cash and cash equivalents of $72.1 million on hand at the end of Q3, Veritone is taking out a loan. It entered into a commitment letter with certain funds managed by Highbridge Capital Management LLC and with certain other lenders on Tuesday (11/7) to provide a senior secured term loan facility in an aggregate principal amount of $77.5 million.

Veritone expects to use the proceeds of the Term Loan to repurchase an aggregate $50.0 million principal amount of its existing 1.75% convertible senior notes due 2026 held by the lenders at a purchase price of $37.5 million plus accrued and unpaid interest and for general corporate purposes.

The Term Loan has a four-year term, accrue interest at a rate of Term SOFR plus 8.50%, with a 3.00% floor for Term SOFR, payable quarterly, and will require quarterly amortization payments of 2.5% of the principal amount, commencing in June 2024.

Veritone has agreed to issue warrants to the lenders to purchase up to 3,008,540 shares of common stock, with 20% of the warrants to be issued for entry into the commitment letter and the remaining 80% conditioned on the closing of the Term Loan.

“We expect the Term Loan to close in the fourth quarter and replace our Senior Secured ABL Facility,” the company said.

In seven days, broadcasting takes over the Harvard Club in the City of New York for Forecast 2024.

With a full day of executive-level panels, discussions, and camaraderie, here are the showstoppers – highlights that you’ll be talking about until Forecast 2025.

Anthony Iannarino: The Negativity Fast
Get ready for an attitude adjustment. Bestselling author and strategic thought leader Anthony Iannarino will share how to transform your perspective and lead with positivity. In an inspiring and exciting take on leadership, Anthony’s Negativity Fast provides a radical approach on how to cultivate both a positive attitude and perspective that you can pass on to the people who follow you.

Jeff Charney: End of the World as We Know It
In the new age of nontraditional, code-cracking marketing and AI, Jeff Charney, heralded two-time CMO of the Year (formerly at Progressive) and now founder of the game-changing MKHSTRY, will transport you through an immersive rapid-fire conversation/presentation, both in 30 minutes. How?  See if you can hang with the treadmill pace of this provocative and unique “conver-tation” with Mike McVay where you will understand marketing, creativity, and relevance from the C-Suite and beyond.

Lou Paskalis: The News Is The News
From covering major weather events to uncovering corruption and advocating for consumers, local radio and television news has become even more critical. But news is expensive and broadcasters need advertising revenue to cover that budget. Lou Paskalis, CEO and Founder of AJL Advisory and Chief Strategy Officer of Ad Fontes Media, shines a spotlight on the problem and the role of advertisers in their commitment to supporting news. “Advertising alone cannot fix this problem, but we can be part of the solution,” says Paskalis. This is sure to be a provocative talk you won’t forget.

The Executive Super Session
Steve Jones, President/CEO, Skyview Networks, leads Salem Media Group CEO David Santrella, Townsquare Media Group CEO Bill Wilson, Graham Media Group CEO Catherine Badalamente, and Gray Television Co-CEO/President Pat LaPlatney in what has become Forecast’s most unforgettable tradition. What are the industry’s leaders thinking? Where do they see broadcasting headed next year and beyond? You’ll know at Forecast 2024.

Of course, there’s far more to Forecast 2024. We’ll talk local radio, AI, economic predictions, and regulatory happenings (with the NAB’s Curtis LeGeyt, no less!) It’s not too late to save your seat at broadcasting’s most prestigious conference. Get your ticket today and we’ll see you next Wednesday.

NEW YORK — The EVP/COO of Hearst, the former longtime leader of its privately held broadcast television division, has been selected as the 2024 recipient of the Broadcasters Foundation of America Golden Mike Award.

The award will be presented to Jordan Wertlieb during a black-tie fundraiser on Monday, March 4, 2024, at the Plaza Hotel in the City of New York.

“I am honored by this recognition from the Board of the Broadcasters Foundation,” said Wertlieb, who was promoted to his current role from Hearst Television President in May. “The Broadcasters Foundation’s mission is to provide financial aid to our colleagues whose lives have been impacted by illness, accident, or natural disaster. I am committed to helping those in need and grateful to all who support this important organization.”

Wertlieb is a member of the Broadcasters Foundation Board of Directors and currently serves as its Vice Chair.

“We’re proud to honor Jordan for his distinguished career, commitment to broadcasting, and dedication to the charitable mission of the Broadcasters Foundation,” said Scott Herman, Chairman of the Broadcasters Foundation of America. “He is a staunch believer in top-quality content that audiences want.”

Tim McCarthy, President of the Broadcasters Foundation, added, “Jordan’s impressive career is matched only by his inspiring commitment to the Broadcasters Foundation. He gives his time and energy to advancing our cause, including attending our recent Media Mixer in New York City, an event designed for junior professionals in broadcasting to meet and network with top-level executives.”

In addition to the Broadcasters Foundation Board, Wertlieb serves on the Board of the NAB Leadership Foundation and is a member of the A+E Networks Board. In 2021, he was recognized by the National Association of Television Program Executives (NATPE) with its Lew Klein Award for Leadership and by the Library of American Broadcasting Foundation (LABF) for Lifetime Achievement during the LABF’s Giants of Broadcasting & Electronic Arts awards ceremony.

The Broadcasters Foundation Golden Mike Award is presented annually to an individual for their excellence in and commitment to broadcasting, and their ongoing service to the community at large. Previous recipients include Bob Pittman, Chairman and Chief Executive Officer of iHeartMedia; David Barrett, former President and Chief Executive Officer of Hearst Television; Perry Sook, Chairman and Chief Executive Officer of Nexstar Media Group; Emily Barr, former President and Chief Executive Officer of Graham Media Group; Hilton Howell, Jr., Chairman and Chief Executive Officer at Gray Television; and Jack Abernethy, Chief Executive Officer of FOX Television Stations; among others.

The host, presenters, and performer will be announced at a later date.

The Broadcasters Foundation has distributed millions of dollars in aid to broadcasters who have lost their livelihood through a catastrophic event, debilitating disease or unforeseen tragedy. Personal donations can be made to the Foundation’s Guardian Fund. Corporate contributions are accepted through the Angel Initiative, and bequests can be made through the Foundation’s Legacy Society. More information, including how to make a donation or apply for aid, is available at www.broadcastersfoundation.org, or by contacting the Broadcasters Foundation at 212-373-8250. Email communication may be sent to info@thebfoa.org.

The fate of The CW Network‘s availability in the Motor City and its surrounding area has been put into question once again.

The owner of the station that pulled the network over an alleged non-payment — a property poised to become a Nexstar Media Group-controlled entity — has sent a cease-and-desist letter to the owner of a crosstown Detroit TV station ownership group that on Monday said it would happily pick up affiliation for the Detroit DMA.

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New WorldDAB President Jacqueline Bierhorst hit the ground running at the WorldDAB Summit 2023 on Nov. 8, 2023, one day after honoring outgoing president, Patrick Hannon, for his contributions to DAB digital radio. The one-day summit was held at the Design Offices München Atlas in Munich, Germany, and online as well.

Bierhorst began by outlining DAB’s success in the world to date. “Just look at what we already achieved through collaboration/legislation throughout Europe on cars, and the fact that DAB-equipped cars are there in countries where there’s no legislation,” she said. “Nearly 100 percent of all new cars come with DAB+ standard in Europe, and this forms a big advantage for countries that are yet to launch DAB+. It’s good that we collaborate and the radio button is preserved in the heart of the dashboard in the car, so broadcast radio is as easily accessible as ever before.”

Jacqueline Bierhorst at the 2023 WorldDAB Summit (photo via Twitter “X”)

She then focused on how Europeans continue to prioritize radio listening over other options. “Let’s zoom in on how drivers listen to radio in their cars,” said Bierhorst. “Figures from the UK show an exponential growth of DAB+ listening in the car. FM is declining and listening via online or apps show no growth. This pattern is also seen in Belgium, Netherlands and other countries, despite the fact that there are more options to listen to radio in the home. [And] More DAB+ radios are sold year on year.” 

This being said, Bierhorst acknowledged that there are varying levels of DAB adoption by listeners across Europe. This is why WorldDAB’s project office, committees and advocates “need to create DAB+ awareness and seduce listeners to buy new radios throughout public campaigns and collaboration with retail,” she said.

“As a starting point, all actions of our project office’s committees and groups, steering board members and myself will be aimed at achieving the key objectives [of the WorldDAB strategy document]. The top three objectives are, number one, sustain the core — making sure DAB+ stays a priority in countries where DAB+ has been for a long time. Number two, strengthen automotive — ensure that all new cars in and outside the EU have DAB+ standard in the car dashboard and keep on innovating DAB+. This is very important in the hybrid solutions with our partners and connected cars. And, number three is develop new markets — help out where needed to make sure all information, knowledge and expertise is shared with new territories.”

Bierhorst closed by rallying the assembled WorldDAB troops to her flag. “To roll out DAB+ on all three points, execution and collaboration are the key to success,” she declared. “These objectives will be achieved through the dedicated efforts of the various WorldDAB committees, groups and the project office, which work tirelessly to drive and foster cooperation with all stakeholders and ensure the seamless execution of our initiatives ultimately leading us towards our goals. It’s a privilege to be part of a mission that not only has the potential to revolutionize the way the world listens to radio, but also is already making a huge impact, helping radio thrive and making sure every person can enjoy free-to-air digital radio.”

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It boasts a FM translator at 105.5 MHz with programming fed from a Class D AM that during daylight hours enjoys a 50kw signal audible from Jupiter to Orlando’s easternmost suburbs.

Until now, it’s been owned by Bruce Maduri and his Genesis Communications. Pending FCC approval, that’s about to change.

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Broadcasters giving back to broadcasters is the key tenet of the annual Year-End Giving Campaign sponsored by the Broadcasters Foundation of America.

The nonprofit organization recognizes that life can change in an instant, whether that be because of severe illness, family tragedy, natural disasters or other accidents. And so, the organization’s Year-End Giving Campaign was created to provide aid to broadcast radio and television colleagues who are in immediate need of financial assistance.

“The Broadcasters Foundation is often the last hope for our peers suffering from severe illness or recovering from disaster,” said Tim McCarthy, foundation president. “To date, we have never turned away a broadcaster who qualified for aid. Donations, in any amount, can ensure that the Broadcasters Foundation continues that track record.”

Over the last 20 years, the foundation has distributed more than $15 million in aid. The foundation expects to award approximately $1.8 million in 2023.

As we approach the end of the year, the foundation is asking individuals and corporations for personal tax-deductible donations to its Guardian Fund. Corporate donations can be given to the Angel Initiative, which is also tax deductible.

Those interested in donating or in applying for aid should visit www.broadcastersfoundation.org, email info@thebfoa.org or call 212-373-8250.

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The long-imagined dream of building a museum honoring broadcasting and electronic media has just taken another step forward. 

Plans are in the works for the creation of the National Museum of Broadcasting in Pittsburgh that will explore the 103-year-old timeline of electronic media, from its humble beginnings in AM radio all the way to our modern era of streaming and social media. The city of Pittsburgh was specifically selected for its stamp on broadcasting history: station KDKA(AM) began broadcasting from the Steel City more than 103 years ago, making it the world’s first commercial radio station.

“[Our museum] will be an experience to show how electronic media began and evolved in immersive and interactive ways,” said Bill Hillgrove, Pittsburgh broadcaster and president of the museum board of directors. The National Museum of Broadcasting is a nonprofit organization dedicated to the preservation of radio and television and related broadcast and electronic industries.

The museum will include artifacts and tell stories through vintage equipment like those used during the early days at KDKA, and illustrate how the industry has evolved by highlighting the use of radio, television and media technology through the decades. The museum also intends to have in-house radio/podcasting and video production facilities where students can learn media, production and technical skills. 

A KDKA logo from the 1920s.

Individuals connected to the museum have been collecting devices and media that illustrate the history of broadcasting for more than 25 years, according to the museum’s website, including an unusual piece of architecture: the original workshop/garage of Frank Conrad, the amateur broadcaster and Westinghouse engineer who was primarily responsible for putting KDKA on the air.

One of the museum’s early goals is to retrieve the dismantled garage out of storage and reconstruct it adjacent to the center’s main building as a testament to Conrad’s contributions to radio. With only a seventh-grade education, the museum’s website said, Conrad is nonetheless credited with building a station that triggered a media revolution. 

Construction of the museum is expected to take several years but Hillgrove and the board credited the support of Pennsylvania State Senator Jay Costa and the Regional Industrial Development Corp., both of which are helping to raise the millions of dollars it will take to construct and develop the museum.

The museum is hoping to acquire a former Westinghouse Electric and Manufacturing location upon which the original KDKA radio studios was built atop the roof. The vacant building has 10,000 square feet of usable space and is in a location that makes it an ideal spot for a museum, Costa said. A historic marker was recently unveiled to memorialize the site where radio and media were born back on Nov. 2, 1920.

“This former bank building is several hundred feet from where the first broadcast took place at the former Westinghouse building,” Rick Harris, museum board secretary and treasurer, told Pittsburgh Magazine earlier this year. “I think this is an appropriate place to have the museum since it’s so close to the original site.” The board is in the midst of another round of fundraising from public and private sources in an effort to formally lease the building. 

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For weeks, the Federal Emergency Management Agency (FEMA), in participation with the FCC, promoted the October 4 nationwide test of the Emergency Alert System and the Wireless Emergency Alerts.

For those with a smartphone, the 2:20pm Eastern test indeed ensured that the system continues to be successful as a way to get emergency information to the public. How Radio and TV each fared is perhaps an emergency in and of itself, CTA research finds.

In short, broadcasters may be muttering amongst themselves, “What we have here is … a failure to communicate.”

Some 95%, or 245 million, U.S. adults received/heard the October 4 emergency alert via
their phone. Specifically, 92% of U.S. Adults — 237 million individuals — indicated they received the alert through their smartphone.

By comparison, 15% of U.S. adults, or 39 million individuals, received/heard the alert through their television, whether it was delivered via cable TV, live streaming or through over-the-air broadcast transmission.

How did Radio do, in an environment where keeping AM radio in vehicles is the biggest goal of the NAB in 2023, rallying broadcasters and key Members of Congress in getting auto companies to retain kHz band access in the name of public safety?

According to Consumer Technology Association research, just 6% of U.S. adults reported they received/heard the alert via Radio. Specifically, 5% heard the alert on FM radio. Only 1% — or 3 million consumers — reported hearing on AM radio.

That said, the CTA has a clear objective, given its role as a voice of technology — demonstrate the power of digital.

And, while 1% sounds tiny, it nevertheless represents some 3 million Americans who would be impacted if AM radio was not present; cities including Boston and Cincinnati would be particularly impacted.

The CTA survey was based on a poll of 800 consumers aged 18 and over, and was conducted between October 4-6, 2023.

 

NEW YORK — Newly appointed NBCUniversal Advertising and Partnerships Global Chairman Mark Marshall is forming his support team, and as such there are now individuals in place to serve as the division’s President of Advertising and Partnerships and as President of Client Partnerships, respectively.

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The NAB has announced that nominations are now being accepted for the 2024 National Association of Broadcasters Technology Awards. The awards honor contributions in digital leadership, broadcast engineering and technology innovation, and will be presented during the 2024 NAB Show, held April 13-17 in Las Vegas.

“Each year, the NAB Technology Awards celebrate the great minds behind the exciting innovations that improve our services, better entertain and inform our audiences, and advance our industry,” said NAB executive vice president and chief technology officer Sam Matheny. “We look forward to honoring these broadcast trailblazers at NAB Show in April and showcasing the breakthrough technologies on the horizon.”

The awards include:

• The NAB Digital Leadership Award honors an individual at a broadcast station, group or network who has had a significant role in transforming a traditional broadcast business to succeed on digital media platforms in a measurable way.
• Two Engineering Achievement Awards are presented each year, honoring individuals for their outstanding accomplishments in the radio and television broadcast industries.
• The Technology Innovation Award is presented to an organization for advanced research and development projects in communications technologies. The technology must demonstrate significant merit, be exhibited at NAB Show and not yet commercialized.

The deadline for nominations is Monday, Jan. 8, 2024. Nomination forms, award rules and lists of past recipients are available at nab.org/events/awards.

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If you thought the “macroeconomic headwinds” being faced by broadcast media companies were tough, cable TV network owner Warner Bros. Discovery, which seeks to establish itself as a OTT and MVPD entertainment hub, may as well be sailing on the roughest seas on Earth.

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