Beasley Q2 Net Revenue Down 3.6%, Earnings Up 28%
Beasley Broadcast Group reported second quarter revenue fell 3.6% to $25.9 million from $26.9 million in 2013. Operating income was down 12.1% to $6.5 million from $7.4 million, while station operating income (SOI) declined 5.9% to $9.5 million from $10.1 million. The company posted net earnings of $3 million (13 cents per diluted share) as compared to earnings of $2.4 million (10 cents) in the year-ago period.
The 3.6%, year-over-year decline in net revenue primarily reflected lower ad revenue at the company's Philadelphia, Wilmington and Greenville-New Bern clusters. The decline in net revenue was partially offset by $0.7 million in other revenue, resulting from an agreement with an electronics company and its affiliate concerning the use of BBG's and their respective logos. Lower net revenue in the 2014 second quarter was partially offset by a $0.4 million, or 2.3%, reduction in station operating expenses, resulting in a $0.6 million, or 5.9%, decline in Q2 SOI.
Chairman/CEO George G. Beasley said, "Second quarter revenue levels reflect slower advertising spending across most markets where we operate which led to declines in seven of our eleven markets and lower station operating income. Overall, we outperformed in our five market clusters that report to Miller Kaplan. In these markets, which accounted for approximately 78% of total second quarter revenue, Beasley station cluster revenue declined 5.2%, compared with the total revenue for all reporting radio stations in these markets which were down 6.0% for the quarter."
He continued, "Our year-over-year revenue decline is partially attributable to difficult comparisons with 2013 second quarter results when we generated double digit revenue gains in markets including Philadelphia and Las Vegas. However, our initiatives to expand our digital offerings are delivering results as we recorded an approximate 24% rise in digital revenue during the quarter."
RADIO ONLINE | Friday, July 25, 2014 | 2:19pm CT
WRQX/Washington DC Announces New Morning Show
Cumulus announces a new morning show on CHR WRQX-FM (All The Hits 107.3)/Washington, DC, with "The Sarah, Ty and Mel Show," featuring personalities Sarah Fraser, Ty Bentli and Melanie Glazener, set to launch on July 30. The show marks the return of Fraser to Washington, as she was the former co-host of WIHT's "The Kane Show" for six years. Fraser spent the past year in New York pursuing television opportunities while staying connected to the area as a contributor to FOX 5's "Good Day DC."
"The opportunity to talk with and entertain an audience with real stories and issues that affect their everyday lives while working with such huge talents like Ty and Mel was too good to pass up," said Fraser. "To do this in DC -- my home for nearly eight years -- makes it all the more exciting. DMV -- your mornings just got real."
Bentli is also a familiar voice in Washington, where he was heard on WMZQ-FM in DC and WPOC-FM in Baltimore from 2010 to 2012. His career in radio spans afternoons on WKSC-FM (103.5 KISS FM)/Chicago and then KBIG-FM/Los Angeles. Bentli most recently succeeded Nick Cannon as morning host of "Ty Loves NY" on CBS' mainstream flagship WNOW-FM (92.3 NOW-FM)/New York.
Bentli said: "I've known how special DC is since my first visit as a 12-year-old from South Dakota. The patriotic grandeur of Mt. Rushmore was quickly eclipsed by the unique history and vibrancy of the DMV! And I can't believe that Sarah has agreed to introduce me to Presidents Frank Underwood, Fitzgerald Grant, and the extraordinarily folksy Selena Meyer... Sarah said a Barack Obama introduction was a 'maybe.'"
The show will also feature another familiar voice: that of Melanie Glazener, another former co-host on "The Kane Show." Glazener's radio resume also includes five years on WLLD-FM (WILD 94.1)/Tampa. Glazener will be moving from Tampa to DC to join the show, as well as finish her college degree.
Senior VP/Programming Mike McVay said, "We consider ourselves fortunate to be able to assemble a team like Sarah, Ty and Mel for mornings. There is a high level of competition in DC. I believe in Gillette. He believes in the team. That makes me a big believer in this show."
PD Rick Gillette added, "Sarah, Ty and Mel are all in the demo -- and are fully plugged into the lifestyle of fellow Millennials. These are down-to-earth people who will talk about their lives with listeners and share their experiences in a completely authentic way. The show will be fun and edgy, but totally relatable. No fake prank calls or canned humor here. We're getting real with our listeners and believe the show will be a breath of fresh air and unlike anything that's on the air."
RADIO ONLINE | Friday, July 25, 2014 | 2:47pm CT
Maynard Exits Hubbard/Seattle as KQMV-KLCK PD
Hubbard Radio CHR KQMV-FM (MOViN 92.5) and Hot AC KLCK-FM (Click 98.9)/Seattle Program Director Maynard (aka Brandon Cohen) resigns after six years. In an internal memo from VP/GM Marc Kaye, he said that Maynard was leaving to join Clear Channel as a VP/Programming. No other details were disclosed. Maynard came to Seattle in 2007 from Hot AC KZZU-FM/Spokane where he served as PD.
In the memo, Kaye said, "Maynard has been an integral part in so many ways contributing to the success of these operations over the last six years and I will never be able to express my gratitude to him for the huge effort he has put forth every day he has been here. I personally wish him nothing but great success in the future and I will miss him more than anyone can imagine."
Prior to joining KZZU in September, 2005, Maynard served as Assistant PD/MD and nights for KKRZ-FM (Z100)/Portland, OR.
RADIO ONLINE | Friday, July 25, 2014 | 4:54pm CT
SCBA Research Targets Response to Radio Spots
The Southern California Broadcasters Association has published its latest SCBA White Paper Research Report entitled, "Consumer Response to Broadcast Radio Commercials vs. Digital and Social Media." The report provides in-depth analysis on subjects having a direct impact on Southern California Radio. It's focused on new SCBA-commissioned research that compares the strong recall and attention by consumers to radio commercials and then compares that data to digital platforms.
"The consumer clearly recalls and pays attention to radio commercials much more than to any digital, search engine, or social media ads," said SCBA President Thom Callahan. "This new research survey showcases Radio's favorable commercial environment and effectiveness in a way that will surprise and delight both advertisers and the Radio industry," said Callahan.
The SCBA White Paper Research Report provides consumer recall and attention data that showcases why more Adults 18+ recalled noticing an advertiser when listening to radio than while using a social network or search engine. The SCBA report also showcases radio's strong recall and attention to commercials from both the Millennial and Gen X age groups and how non-radio digital platforms performed poorly from a consumer recall and overall attention basis.
The rush to non-radio digital platforms by radio clients is being done without the benefit of this research. The SCBA's goal is to change minds and hearts about radio's place in advertising today and provide even more proof that the commercial environment of radio is clearly superior to that of non-radio digital platforms such as search engines, mobile ads and social media.
The SCBA White paper also makes reference to another study stating that 61% of online viewership is to non-human traffic to many digital sites and that 48% non-human traffic to video ads is recorded on non-content web sites. Read "A Responsibility to the Truth" at www.scba.com under "Thought Leaders" for more on fraudulent web sites and mobile apps and the study cited.
"The comparison of consumer recall and attention to Radio commercials vs. digital ads could not be any clearer," said Callahan. "We are urging every advertiser to look at this compelling data to not only improve the effectiveness of their advertising but to gain a new appreciation and recognition of Radio's enduring and measureable strength."
The full report is available at www.scba.com under SCBA White Paper Reports.
RADIO ONLINE | Friday, July 25, 2014 | 2:53pm CT
ESPN Deportes 1180 to Air Houston Texans in Spanish
Spanish Sports KGOL-AM (ESPN Deportes 1180 AM)/Houston signs with the Houston Texans to air the NFL team's play-by-play in Spanish during the 2014 season. Enrique Vasquez will continue calling the games with color analyst Gustavo Rangel. Rangel returns after serving as sideline reporter in 2002 and 2003. Daniela Rodriguez will become the sideline reporter. Game broadcasts will also include 30-minute pre-game and post-game shows and a one-hour weekly Texans program, beginning September 9.
KGOL VP/GM Joseph Casas said, "ESPN Deportes 1180 AM is proud to partner with the Houston Texans and provide our listeners and fans with the best coverage possible of the city's most popular team. This is a great opportunity for ESPN Deportes 1180 AM and for the Texans. We're excited and looking forward to a great season on the air and on the field."
Texans Senior Director of Broadcasting and English-language radio announcer Marc Vandermeer added, "We are excited to have ESPN Deportes 1180 AM as our radio partner for this season. The knowledge, insight and commentary Enrique and Gustavo bring to the broadcast will really benefit and entertain listeners. Texans fans know that they're going to hear a quality broadcast with great production from Texans Radio on ESPN Deportes 1180 AM when they tune in."
RADIO ONLINE | Friday, July 25, 2014 | 6:02pm CT
WNVZ (Z104)/Norfolk Ups Natalia to Program Director
Entercom Rhythmic CHR WNVZ-FM (Z104)/Norfolk acting PD Natalia is officially named the station's Program Director. Before being upped to acting PD after the departure of Mike Klein, Natalia served as Z104's Assistant PD and midday host. She'll continue to air in the midday slot. Natalia joined the station as an intern and worked her way up under Entercom/Norfolk OM Don London.
RADIO ONLINE | Friday, July 25, 2014 | 3:35pm CT
Townsquare Media Rolls Out IPO Shares at $11 Each
Townsquare Media rolls out its initial public offering (IPO), pricing shares at $11 each for 8,333,333 shares of class A common stock. Shares were expected to price in arange of $14-$16. Trading on the New York Stock Exchange under the symbol TSQ, shares fell as much as 7 percent in its market debut, giving the company a value of about $172 million. The Greenwich, CT-based media company raised about $91.3 million.
Townsquare's shares opened at $10.74 and touched a low of $10.22. The offering is scheduled to close on July 29. Bofa Merrill Lynch, Jefferies, RBC Capital Markets, Guggenheim Securities and Macquarie Capital are serving as joint bookrunning managers.
RADIO ONLINE | Thursday, July 24, 2014 | 2:53pm CT
WQHT/New York Names Dixon as Program Director
WQHT-FM (Hot 97)/New York appoints Jay Dixon as Program Director. He had served as interim PD since Ebro Darden vacated the post in March to focus on hosting "Ebro in the Morning" from 5-10am. The veteran programmer previously served as PD for Emmis co-owned Urban AC WRKS-FM (98.7 Kiss FM). Prior to Kiss, he was Cox Media Group's National Urban Format Coordinator until his position was eliminated. Dixon also served as PD of Urban AC WALR-FM (Kiss 104)/Atlanta.
"Jay's extensive knowledge of radio broadcasting and ratings, as well as his familiarity with the Emmis brand, makes him the perfect fit for WQHT," said General Manager Deon Levingston. "Over the past few months, Dixon has initiated innovative and creative ideas to the HOT 97 platform, further demonstrating his capabilities of leading and continuing to expand the global presence HOT 97 has in Hip Hop and music. We are thrilled to welcome him back to the Emmis family."
"I am excited to be back with Emmis and to continue my work with WQHT. I'd like to thank Rick Cummings, Jimmy Steele, Deon Levingston, Ebro Darden and the entire Emmis community for this opportunity. Look out of big things ahead for WQHT, Hip Hop, and New York," added Jay Dixon.
RADIO ONLINE | Thursday, July 24, 2014 | 3:26pm CT
CC/Asheville Launches ''The New 97.7 The Brew''
Clear Channel/Asheville, NC, launches Adult Hits "The New 97.7 The Brew" on WKSF-HD2. The station is playing "everything it wants" with artists such as Michael Jackson, Coldplay, Boston, Lady Antebellum, Madonna, Nirvana, Katy Perry, Bon Jovi, One Direction and U2 among others. GM Bill McMartin says that The Brew will offer listeners a "wide variety of music from the last 40 years, in a clean, limited-commercial and fun environment."
McMartin added, "Everyone at Clear Channel/Asheville is very excited about our opportunity to bring a new radio station to the area. With Asheville earning the 'Beer City USA' title for several years, we felt it was only fitting to name the new radio station after one of Western North Carolina's strongest economic drivers, craft beers."
RADIO ONLINE | Thursday, July 24, 2014 | 2:42pm CT
Philly's 97.5 The FANATIC New Home for Temple Football
Temple University Athletics, along with its multi-media rights holder, Learfield Sports' Temple Sports Properties, announced today a multi-year agreement with Greater Media Philadelphia naming WPEN-FM the official home to Owls Football. Starting with the 2014 football season, fans in the greater Philadelphia market can hear Temple football games on its new football flagship, "The Fanatic" 97.5 FM.
"We're excited to announce that The Fanatic, one of the nation's top sports stations, will broadcast Temple Football games for the next three years," said Temple University Vice President and Director of Athletics Kevin Clark. "We are looking forward to a great season on the field and happy to have an excellent broadcast partner to provide our fans all of the action."
"This is a wonderful partnership for us," said Program Director Matt Nahigian. "We are proud to be representing the Owls and their exciting college football program. August couldn't come soon enough!"
RADIO ONLINE | Thursday, July 24, 2014 | 12:11pm CT
AP's Denise Vance Named Head of U.S. Video & Radio
Associated Press Deputy Director of U.S. Video Denise Vance is adding AP Radio duties, becoming Head of U.S. Video and Radio, while continuing to oversee video and audio newsgathering and production in North America. The move is a part several leadership changes at the news agency's video division, which includes broadcast journalist Derl McCrudden's promotion to head of international video news and former CNN and Fox executive Vaughn Morrison appointment as the new head of U.S. video production.
VP/Director of Global Video Sandy MacIntyre said, "AP's video customers are going to be immensely well served by these changes. This editorial leadership team combines decades of knowledge of the needs of broadcasters and digital players with a passion to win on accuracy, speed and innovation."
RADIO ONLINE | Thursday, July 24, 2014 | 3:10pm CT
Chris Russell Named PD of WMXO-FM/Olean NY
Chris Russell joins Hot AC WMXO-FM (Mix 101.5)/Olean, NY, as Program Director, Digital Operations and air talent, effectively immediately. Russell is a 15-year industry veteran with previous stops in Texas, New Mexico and Illinois before moving to the Southern Tier region of New York. His most recent stops include programming and operations for Cromwell Radio Group's Effingham, IL, cluster, and Olean's Colonial Media & Entertainment.
"I can't tell you how excited I am at the opportunities our Hot AC format provides us here in the market, and what a fantastic group of radio folks I get to hang out with every day," said Russell. "And we have some big surprises in store for our great listeners and clients!" Tami Dunlavey, GSM, said "We are so proud to have Chris come aboard, he's the perfect fit to take us to the next level!"
RADIO ONLINE | Thursday, July 24, 2014 | 3:53pm CT
Clear Channel Q2 Revs Up 1%, Earnings Swing to Loss
CC Media Holdings, the parent of Clear Channel, reported second quarter consolidated revenues increased one percent to $1.63 billion from $1.61 billion in 2013. Media+Entertainment revenues grew slightly to $806.3 million from $805.6 million. Operating expenses were up $2 million during Q2 versus the same period in 2013, primarily due to higher sports programming costs. The company posted a net loss of $186.6 million companred to earnings of $7.2 million in the year ago period.
"Our growing digital and events businesses continued their strong momentum during the quarter, further demonstrating the unique value that Clear Channel delivers to advertisers through our diverse set of media assets," said Chairman/CEO Bob Pittman. "At iHeartRadio, we introduced an even more personalized listener experience with the release of iHeartRadio 5.0 and grew our registered users by 50% year over year -- surpassing the milestone of 50 million registered users in record time."
"We continued to reinforce our foundation for growth this quarter and make progress in advancing our strategy to become one of the leading technology-fueled multi-platform media and entertainment companies in America," said President/CFO Rich Bressler. "We grew overall revenues despite some market challenges, and I am especially pleased with our efforts in International Outdoor and Media+Entertainment."
RADIO ONLINE | Wednesday, July 23, 2014 | 2:41pm CT
Jake McCann Named VP/Sales WRQX & WMAL
Cumulus announces that it has appointed Jake McCann as Vice President, Sales for WRQX and WMAL in Washington, DC, effective immediately. McCann is the former Director of Sales for Greater Media stations WRIF, WCSX and Sports 105.1 in Detroit. Prior to that, Jake spent seven years in Philadelphia as the General Sales Manager for 97.5 Fanatic, Philly's first FM Sports station.
Gary Pizzati, Senior Vice President, Cumulus said: "We are thrilled to have Jake at the helm of our cluster in Washington. He is a natural leader and a relentless recruiter. Jake spent the majority of his career in sales management on the East Coast both in radio and cable. He's developed strong regional advertiser relationships during that time which will be beneficial to us. We look forward to his contribution."
McCann said: "I'm excited to join the Cumulus Media team. I'm looking forward to being a part of a company that is growing and shaping the next generation of radio broadcasting. While meeting with the leadership team of Lew Dickey, Jon Pinch and Gary Pizzati, I was impressed by their passion and vision for the future of our industry. I'm honored to lead WMAL and WRQX, two powerful stations in one of the most important and influential markets in the country."
RADIO ONLINE | Wednesday, July 23, 2014 | 10:38am CT
Brian Wallace Exits Clear Channel/New Orleans Duo
Urban WQUE-FM and Urban AC WYLD-FM/New Orleans Director of Urban Programming Brian Wallace exits. The veteran programmer joined the Clear Channel duo in March, 2013. Previously, he served as Operations Manager for Radio One/Indianapolis. Wallace has also programmed Radio One's Urban AC WTLC-FM, Rhythmic CHR WHHH-FM and CHR WNOU-FM in Indianapolis, as well as sister Urban AC WDMK-FM (105.9 Kiss)/Detroit.
Wallace's career also included stops in St. Louis and New Orleans. He can can be reached at firstname.lastname@example.org.
RADIO ONLINE | Wednesday, July 23, 2014 | 3:27pm CT
Todd Lawley Joins Townsquare Media as Regional VP
Todd Lawley joins Townsquare Media as Regional VP based in Dallas. He previously served as President/CEO of Peak Broadcasting. Before Peak, he was the former Citadel Broadcasting/Tucson Regional VP/GM before assuming duties as Regional President/West where he oversaw operations of some 60 Citadel outlets, mainly west of the Mississippi.
Lawley joined the company's Tucson outlets in 2002, after serving as GM and Director/Sales for Clear Channel's crosstown Tucson group. His sales background includes VP/Director of Slaes for CBS Radio and Regional Manager for McGavern Guild.
RADIO ONLINE | Wednesday, July 23, 2014 | 3:36pm CT
Jacobs Issues 6th Annual Public Radio Tech Survey
Six years of annual technology surveys on behalf of public radio stations throughout the U.S. has created a narrative about the impact of digital media on broadcast radio. In Jacobs Media's PRTS6, in partnership with the Public Radio Program Directors Association (PRPD), radio listeners paint a picture about the strength of public radio, as well as the opportunities and challenges presented by the digital revolution.
PRPD President Arthur Cohen commented, "The survey results reinforce the strength of public radio's offerings -- on our traditional platform (radio) as well as the many digital channels. Maintaining those core values in all we offer is an opportunity to remain of service to our communities, even as their media habits change."
Jacobs Media President Fred Jacobs noted, "PRTS6 points to the opportunities and challenges faced by public radio stations and the networks that provide its programming content. The audience's rapid migration to digital signifies the potential to satisfy their informational and entertainment needs on their preferred channels."
PRTS6 shows the following trends, impacting the entire public radio system:
RADIO ONLINE | Wednesday, July 23, 2014 | 2:51pm CT
The "why" of public radio: Credible programming, deeper news perspective, ongoing learning, and respect for the intelligence of the listener emerge as the four pillars of public radio's value proposition. Each is mentioned by more than seven of every ten respondents as main reasons for listening to public radio stations. The trust factor: Three-fourths (75%) of PRTS6 respondents agree that public radio news efforts are not influenced by advertisers or sponsors - another indication that credibility and trust are core assets. Streaming rising: Streaming - both audio and video - continues to grow at a rapid pace. On a weekly basis, six in ten (61%) access online video, while nearly half (49%) now stream audio every week. The mobile revolution: Seven in ten (71%) PRTS6 respondents own a smartphone, while over half (56%) carry a tablet. And by far, Apple is the preferred platform of choice. WOM: When it comes to recommendation, public radio stations are off the chart. Overall, the Net Promoter Score for public radio - which measures word of mouth - is an impressive 71-significantly stronger than the NPS for commercial stations in Jacobs Media's Techsurvey10-43. Cars, cars, cars: The "connected car" continues to play a more significant role for public radio. In this year's study, nearly six in ten public radio listeners (58%) are able to pair a phone or mp3 player in the vehicle they drive. Socializing: Three-fourths (75%) of these public radio respondents have a social media profile, led by Facebook and LinkedIn. But these platforms vary considerably by public radio formats and individual station brands. Twitter momentum: Of the most popular social media platforms, Twitter shows strong year to year growth. And one-third (33%) of Twitter users say they're using the platform more than they were one year ago. Big news: More than a third (36%) of these public radio fans say they're increasingly accessing news from digital sources (websites, texts, etc.). Fred Jacobs will present PRTS6 key findings at the Public Radio Program Directors Convention in Portland, OR, held September 9-11, as well as a special "stakeholders only" session for participants in PRTS6.
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