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Five analysts polled by Yahoo! Finance chimed in on where iHeartMedia’s Q1 2024 revenue would finish. This yielded a consensus estimate of $805.85.

Did the company led by CEO Bob Pittman and COO/CFO Rich Bressler meet or exceed that prediction? No, but the company was quick to note the 1.5% dip was in line with its own guidance range.

The RBR+TVBR InFOCUS Podcast, presented by dot.FM, offers an in-depth audio review of iHeartMedia’s brief first quarter 2024 earnings call, in which no questions were asked due to the call being held at the same time as that of Townsquare Media. It will be distributed from Noon PT/3pm ET on May 9 at RBR.com and at iHeartRadio, Apple Podcasts, Deezer and soon-to-be-sunset Google Podcasts.

 

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Termination of Licenses Under Section 312(g)

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FOX Corporation shares were up by 2.5% in early afternoon trading on Wednesday after the company offered up a fiscal Q3 2024 earnings report reflecting revenue that came in slightly higher than estimates as the company’s net income soared.

That achievement was met despite poor comps on ad revenue due to the absence of a Super Bowl telecast in 2024. The results led a MoffettNathanson analyst to offer a glowing report signaling its support of the company’s current leadership and profit-generation plan.

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The company behind the DTS AutoStage, HD Radio and TiVo is sticking with its previously announced guidance for 2024 as it released a Q1 2024 earnings report indicative of how it seeks to reduce its losses and soon turn a profit.

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Minutes after Wednesday’s Closing Bell for U.S. financial markets, Sinclair Inc. released its first quarter 2024 earnings report. How did the company that owns Dielectric, Compulse, and broadcast TV stations including WBFF-45 in its home market of Baltimore fare?

Core advertising revenue fell short of its guidance but “distribution revenue,” a.k.a. retransmission consent dollars, came in ahead of its own estimates. But did Sinclair’s Q1 2024 revenue meet Street expectations?

The consensus estimate of 7 analysts polled by Yahoo! Finance put revenue expectations at $801.31 million. And, Sinclair fell short, with its actual Q1 2024 revenue coming in at $798 million, up from $773 million one year earlier.

Core ad revenue came in at $297 million, while the expectation was a finish between $300 million-$308 million. That’s down from $306 million in Q1 2023. Retransmission consent dollars fueled distribution revenue of $436 million, surpassing the $431 million-$433 million range predicted by Sinclair Inc. That’s up from $426 million in Q1 ’23.

With adjusted EBITDA climbing to $136 million from $120 million, net income attributable to Sinclair fell to $25 million ($0.35 per share) from $185 million ($2.64 per diluted share).

Investors were pleased with the results, as SBGI, which trades on the Nasdaq GlobalSelect market, was up by more than 8% in immediate after-hours trading on Wednesday.

LOCAL MEDIA HOLDS IT OWN

While Local Media core ad dollars were down, excluding the Super Bowl and NCAA Final Four from the mix — along with “the temporary headwind from the sports betting category due to tough comps,” local media core advertising was up low-single-digits. Legal, pharmaceuticals and services (home repair/builders) were up year-over-year.

However, Automotive and Medical saw a slight miss on expected revenue versus guidance; a “slow sales environment” impacted Auto, Sinclair said ahead of an earnings call for analysts and investors late Wednesday.

Looking ahead at Q2 2024, Sinclair says Retail, Services and Entertainment are “pacing strong” as Medical and Pharmaceutical slightly are softer versus April 2023. As such, core advertising is forecast to rise between 2% and 6% in Q2 2024.

We partner with U.S. media companies to accelerate the growth of startups using the power of media capital.

That’s how a new independent media capital fund launching stateside describes itself, and how it is the first fund to invest media capital — namely digital and TV advertising — in what it believes are high-growth nascent technology companies in exchange for equity.

Given the oft-repeated macroeconomic headwinds that are impacting the nation’s largest broadcast radio and TV companies, are there any takers? Yes — two big ones.

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Some 118 radio and digital audio spots and campaigns have made it to the finals of the 2024 Radio Mercury Awards.

The 2024 finalists range from regional to large advertising agencies and radio stations as well as national and local advertisers from business categories including automotive, consumer packaged goods, entertainment, healthcare, nonprofits, quick-serve restaurants, retail, telecommunications, travel and hospitality. The submissions were created by advertising agencies, brands, production companies, radio stations and students.

“I’ve been a part of the Radio Mercury Awards as an entrant and a judge, and it’s always been an honor, but to be the chief judge and lead the jury to award the best of the best has been amazing,” said Mitch Bennett, the 2024 Radio Mercury Awards chief judge. “The work this jury heard led to meaningful conversations about the importance of radio and audio and where they’re headed.”

Mike Hulvey, the newly installed President/CEO of the RAB and Chair of the Radio Creative Fund, commented, “Being in the room where it happens for the first time was incredible,” said. Hearing the passion and esteem the jury had for radio and audio was exciting, and I look forward to honoring the finalists and awarding the winners at this year’s event.”

In addition to Bennett, the final round jury included Danny Alvarez, an Executive Creative Director at recently established Hispanic market specialty shop MEL; Chad Broude, co-founder/co-chief creative officer at Highdive; Marina Cuesta, group creative director at Creyentes; Rachel Dawer, associate creative director at Plot Twist Creativity; Danny Gonzalez, founder/co-chief creative officer at Bandits & Friends; Flor Leibaschoff, co-founder/chief creative officer at BeautifulBeast; and Alan Wilson, SVP and group creative director at BBH USA.

Sponsors for the event include dedicated sponsors Audio Milkshake and Beasley Media Group; livestream sponsor Hubbard Radio; participating sponsors Bonneville International, CUMULUS MEDIA | Westwood One, Katz Radio Group, Sound+Fury and Xperi; friends of the Radio Mercury Awards sponsors Audacy, CBS News Radio, Connoisseur Media, Cromwell Media, iHeartMedia, Media Monitors, Mr. Master, Neuhoff Media, Nielsen, Skyview Networks, Triton Digital, Townsquare Media, vCreative, World Wide Wadio and Zimmer Radio and Marketing Group. Radio Mercury Awards Donor sponsors include Benztown and Miller, Kaplan, Arase & Co.

The Radio Mercury Awards winners will be presented on June 6 at SONY Hall in New York City. As previously announced, O’Reilly Auto Parts is being awarded Radio Marketer of the Year.

2024 Radio Mercury Awards Finalists Broadcast Radio Campaign: Agency, Production Company or Advertiser   Particular Progressive Insurance Arnold Worldwide Renter’s MVP Progressive Insurance Arnold Worldwide Calling All Truckers Motel 6 Barkley Inflation Blues Westerra Credit Union Cactus “Replaced” Radio Campaign Liberty Mutual Copper Giants Best Clean, Pants Down DUDE Wipes Curiosity Danny’s Ideas Jersey Mikes Highdive Play It Safe Out There Airheads Highdive Playable Radio The Ohio Lottery Commission Marcus Thomas LLC Chain Restaurant, BBQ Smoker, Motorcycle Sport Clips Preacher The Place to Find a Place Apartments.com RPA KitchenAid Espresso Collection KitchenAid Whirlpool Corporation The Global Calming Crisis The CLEO Institute Zubi Advertising The Undercover Names The CLEO Institute Zubi Advertising Broadcast Radio Campaign: Radio Station or Group   Claritin 30 Doctor, Claritin Morning Person, Claritin Smelling Flowers Claritin Audacy Studios Refresh Computers-Richard-Walter-Barbara-Nancy Refresh Computers Cox Media Group Pantry fight, Closet Fight and Garage Fight Artisan Custom Closets Dickey Broadcasting Company Pass The Joint campaign The Joint Hubbard Radio Jim Bob Jen Roswell Tire and Appliance Seven Mountains Media, LLC Kevin the Dumpster Genie Green Leaf recycling Seven Mountains Media, LLC Four Percent Campaign (Pepperoni, Legroom, Waiting) Bluevine The Studio at iHeartMedia That’s Covered (Food Poisoning, Lawsuit, Missed Flight) Goose Insurance The Studio at iHeartMedia When You Really Need a Win (Bangs, Nuts, Bus, Oatmilk) Chumba Casino The Studio at iHeartMedia Buzz Connection Steve’s Pest Control Zimmer Communications Epic Bug Rap Battles Steve’s Pest Control Zimmer Communications Broadcast Radio Single Promotional Spot: Radio Station or Group Liv 105 Sign On Promo KITS FM Audacy Studios Up North, You Betcha Cumulus/KQRS/Cragun’s Resort CUMULUS MEDIA Monster Cash, Joetown 107.5 codeword contest promo Eagle Communications, Inc Eagle Communications, Inc Reminiscing about Driver Nation Lager Promo The Drive Radio Station Hubbard Radio Chicago St. Angus Day Promo The Drive Radio Station Hubbard Radio Chicago The Bears of Our Lives Promo The Drive Radio Station Hubbard Radio Chicago Touchdown Flyaways Townsquare Media of El Paso Townsquare Media of El Paso Broadcast Radio Single PSA: Agency, Production Company, Advertiser, Radio Station or Group Sensible Strumming SAFE Project CDM New York Sounds of NPC Coherus BioSciences CDM New York LGE Gas Safety “Rotten Eggs” Radio Louisville Gas & Electric Doe Anderson Cainan’s Story Cincinnati Children’s Hospital Hubbard Radio Cincinnati Special Retirement Gift Big Cat Rescue PPK WHZT – Breast Cancer Awareness PSA SUMMITMEDIA SummitMedia Broadcast Radio Single Spot: Agency, Production Company or Advertiser Just Saying Progressive Insurance Arnold Worldwide No Reward Progressive Insurance Arnold Worldwide A Drill and the Drive The Home Depot BBDO Atlanta Sensible Strumming SAFE Project CDM New York A.S.S.M.R DUDE Wipes Curiosity Bathe Your Bum DUDE Wipes Curiosity Voice of Ram Ram Highdive Dunkin’ Holiday Unboxing Dunkin’ Leo Burnett Chicago $80k PSA Naskila Casino Love Advertising Broadcast Radio Single Spot: Radio Station or Group Overnight November Pacific Coast Termite Audacy Studios Sugar Nutritional Weight and Wellness Hubbard Broadcasting – myTalk 107.1 Food Poisoning Goose Insurance The Studio at iHeartMedia Nuts Chumba Casino The Studio at iHeartMedia Shorter Waits Bluevine The Studio at iHeartMedia Epic Bug Battle Rap – Ticks vs Spiders Steve’s Pest Control Zimmer Communications Broadcast Radio Single Spot for Good: Agency, Production Company or Advertiser   A Drill and the drive The Home Depot BBDO Atlanta Ridiculous Laws Counter Narrative Project Fors Marsh Fire The CLEO Institute Zubi Advertising Water The CLEO Institute Zubi Advertising Local Market Broadcast Radio Single Spot: Agency, Production Company or Advertiser Inflation Blues: Eggs Westerra Credit Union Cactus Playable Radio The Ohio Lottery Commission Marcus Thomas LLC Hype The Minnesota Lottery Periscope Special Retirement Gift Big Cat Rescue PPK Pully Downy Thingy YMCA of the North Preston Spire The Undercover Names The CLEO Institute Zubi Advertising Local Market Broadcast Radio Single Spot: Radio Station or Group Rocky Mickey Half Price Hot tubs Audacy Studios Breda Wildlife Winter Rap Breda Pest Management Cox Media Group Sugar Nutritional Weight and Wellness Hubbard Broadcasting – myTalk 107.1 Teddy Herrmann Services Hubbard Radio Cincinnati Decks Are Made for Peeing Kretch’s Custom Exteriors Zimmer Communications Epic Bug Battle Rap – Ant VS Termite Steve’s Pest Control Zimmer Communications Multi-Platform Campaign with Broadcast Radio: Agency, Production Company, Advertiser, Radio Station or Group   “For You” Campaign Motel 6 Barkley Playable Radio The Ohio Lottery Commission Marcus Thomas LLC Don’t drink the green river Green River Bourbon Ugly The Undercover Names The CLEO Institute Zubi Advertising Spanish-Language Single Broadcast Radio Spot: Agency, Production Company or Advertiser, Radio Station or Group Tantrum Walmart Puerto Rico DDB Latina Puerto Rico No me llames We Save Lives El Autobus inc If You’re High, Don’t Drive Ad Council Studio Resonate, SXM Media Best in the City AT&T Translation/United Masters Student-Produced Radio Commercial    Central Bears vs Castle Knights 95.7 The Spin 95.7 The Spin/University of Southern Indiana Cheesy Hypnosis Cheetos Denver Ad School Grandma Candy Tootsie Roll Denver Ad School Still Got It Toots Tootsie Roll Denver Ad School I’m a YETI YETI Miami Ad School IT’S H2.O Lacroix Miami Ad School Department of Comm Song UTA Department of Communication UTA Radio.com Use of Emerging Technology in Radio or Audio: Agency, Production Company, Advertiser, Radio Station or Group   Sounds of NPC Coherus BioSciences CDM New York HBD KSF (Knott’s Scary Farm) Cedar Fair Cramer-Krasselt Hold for Wings Pizza Hut GSD&M Voice of Ram Ram Highdive The Unshakeables Chase for Business iHeartMedia Lifesaving Radio NextMed Health Klick Health Recycled Dell Technologies Sound Lounge Use of Humor in a Single Broadcast Radio Spot: Agency, Production Company, Advertiser, Radio Station or Group   Just Saying Progressive Insurance Arnold Worldwide Nuggets Progressive Insurance Arnold Worldwide Tacos Progressive Insurance Arnold Worldwide ED MIX 1 Total Body Therapy of Georgia Dickey Broadcasting Company Got Your Nose Airheads Highdive Made Ya Look Airheads Highdive Sugar Nutritional Weight and Wellness Hubbard Broadcasting – myTalk 107.1 Food Poisoning Goose Insurance The Studio at iHeartMedia Legroom Bluevine The Studio at iHeartMedia Don’t drink the green river Green River Bourbon Ugly KitchenAid Espresso Collection: Name KitchenAid Whirlpool Corporation Use of Songs/Music in a Single Broadcast Radio Spot: Agency, Production Company, Advertiser, Radio Station or Group   Inflation Blues: Eggs Westerra Credit Union Cactus Sensible Strumming SAFE Project CDM New York Dunkin’ Holiday Unboxing Dunkin’ Leo Burnett Chicago Playable Radio The Ohio Lottery Commission Marcus Thomas LLC O Holy Night YMCA of the North Preston Spire Food Poisoning Goose Insurance The Studio at iHeartMedia Lawsuit Goose Insurance The Studio at iHeartMedia Epic Bug Battle Rap – Ant VS Termite Steve’s Pest Control Zimmer Communications Use of Sound Design in a Single Broadcast Radio Spot: Agency, Production Company, Radio Station or Group   Sounds of NPC Coherus BioSciences CDM New York Voice of Ram Ram Highdive X the Cast – Most X-treme Radio Stunt Man Florida Lottery PPK Seashell Little Caesar’s Sound Lounge Banana Town Chumba Casino The Studio at iHeartMedia Fire The CLEO Institute Zubi Advertising Water The CLEO Institute Zubi Advertising Wind The CLEO Institute Zubi Advertising

When it comes to Comscore CEO Jon Carpenter‘s assessment of the company’s first quarter 2024 earnings report, he’s well aware of the results, which saw revenue finish “slightly below our expectations.”

That said, Carpenter said that this did not deter the company from making “encouraging progress against a number of key initiatives” deemed critical to its “transformation.”

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An unbuilt Construction Permit for a noncommercial radio station with 1,600 watts of power from a peak on the Hawaiian Island of Lanai, due west of Maui, has been sold.

The buyer is CSN Radio‘s parent.

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NBCUniversal has chosen an exclusive audio partner for the upcoming Summer Olympic Games from Paris. This will see the No. 1 audio content creator and distributor in the U.S. provide 24/7 play-by-play audio channels of select NBCU linear coverage of the Games; create an original Olympic-themed podcast; and produce Olympic-focused episodes from some of its current podcasts.

For iHeartMedia, the efforts include an Olympic iHeartPodcast hosted by Bowen Yang and Matt Rogers.

“We’re excited to partner with iHeartMedia to provide Olympic fans with even more ways to enjoy the Paris Olympic Games,” said Gary Zenkel, President of the NBC Olympics arm. “This partnership allows iHeart’s large audio audience to hear NBCU’s Olympic coverage away from their televisions and digital devices, as well as engage with the Games through iHeart’s celebrated and entertaining podcasts.”

Like NBC’s coverage, a focus on Team USA will be seen across the iHeartMedia content.

“We are thrilled to partner with NBCU on coverage of the Paris Olympics this summer and heighten the excitement around this year’s games,” said Michael Biondo, President of Business Development and Strategic Partnerships for iHeartMedia. “It’s an honor to be able to provide our platform and our massive reach to bring further awareness and up-to-the minute coverage of NBCU’s broadcast of this year’s Olympics.”

 

NBCUniversal named iHeartMedia as its audio partner for the Olympic Games in Paris, which begin in late July.

iHeartRadio will provide play-by-play audio channels of certain NBCU linear coverage of the games. It will also create an Olympic iHeartPodcast hosted by Bowen Yang and Matt Rogers. It will produce Olympic-specific episodes on other podcasts and promote viewership to NBCU’s coverage.

The announcement was made by Gary Zenkel, president of NBC Olympics, Michael Biondo, iHeart’s president of business development and strategic partnerships.

Zenkel said in the announcement, “This partnership allows iHeart’s large audio audience to hear NBCU’s Olympic coverage away from their televisions and digital devices, as well as engage with the games through iHeart’s celebrated and entertaining podcasts.”

The play-by-play channels will include a focus on the U.S. teams at the games. “NBCU’s coverage on iHeart’s channels is expected to include Team USA men’s and women’s basketball, soccer and volleyball, as well as swimming, gymnastics, track & field and more.”

The jointly created new podcast will have a weekly interview-based format.

 

The post NBCU Names iHeartMedia Its Olympic Audio Partner appeared first on Radio World.

A collection of NBC and Telemundo local and regional streaming news channels are heading to one of the most commonly known free ad-supported TV (FAST) channel platforms in the U.S., with five of the 15 channels already launched as of today.

A freshly signed agreement between NBCUniversal and Pluto means that, by June 1, fifteen NBC and Telemundo local and regional streaming news channels will be found on Pluto TV

In total, 11 NBC channels and four Spanish-language regional channels will be available on Pluto TV.

As of today, NBC New York News; NBC Los Angeles News; NBC Chicago News; NBC Philadelphia News; and NBC Washington D.C. News can be viewed.

Later in May, NBC Boston News; NBC Dallas Fort Worth News; NBC Bay Area News;
NBC South Florida News; NBC San Diego News; NBC Connecticut News; Noticias Telemundo Noreste; Noticias Telemundo California; Noticias Telemundo Texas; and
Noticias Telemundo Florida will be added to Pluto TV.

These channels join already available FAST channels from the NBCUniversal portfolio including entertainment, sports, news and true crime FAST channels, as well as NBC News NOW, TODAY All Day, Dateline 24/7, and Sky News International.

The owner of broadcast radio stations in markets ranging from Las Vegas and Detroit to Philadelphia; Boston; and Augusta, Ga.; experienced a nearly 6% dip in its net revenue during the first quarter of 2024 — a decline that perhaps fueled a 7% reduction-in-force initiative that became known on Tuesday.

 

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Two new technical workshops will be available during the Texas Association of Broadcasters TAB Show in August.

One will focus on repair and servicing of Continental 816 transmitters. Engineer Gil Garcia, who is involved in the planning, said thousands of these transmitters remain in service but that the expertise necessary to maintain them is waning. Steve Hasskamp and Bob Stroupe will conduct the training on Aug. 6 and 7. People who register can submit questions ahead of time to have answered during the session.

On Aug. 7, a workshop will explore fundamentals of RF; that one is led by Rusty Mooney. Also on that day, TAB will again offer the Chief Radio Operator certification class that it introduced in 2021.

The main convention sessions are held on Aug. 7–8, with exhibits on Aug. 8. Notable speakers include Jerry Gumbert, Daniel Anstandig, Shawn Dubravac, John Tkac and Paul Jacobs.

The conference schedule has now been posted. Registration fees for TAB members start at $105 per person, with additional fees for the workshops. Fees increase June 22.

This year the show moves 23 miles up the road from downtown Austin to Kalahari Resorts & Conventions in Round Rock.

The post TAB Adds Tech Workshops to August Convention appeared first on Radio World.

A 12-market footprint is now in place for the WNBA’s Indiana Fever that expands team coverage beyond TEGNA-owned WTHR-13 in Indianapolis. Seventeen of the team’s games will air not only on WTHR, but on co-owned WOI-TV in Des Moines and WQAD-TV in the Quad Cities of Illinois and Iowa, as well as on WHAS-TV in Louisville. Additionally, agreements have been finalized with Gray Television, Sinclair Inc., Nexstar Media Group, Coastal Television Broadcasting Group, and Weigel Broadcasting Co. putting WTHR-originating Fever broadcasts on stations owned by those respective companies. “This is a pivotal moment for our Fever team and women’s basketball, more broadly, and this groundbreaking partnership with TEGNA will ensure more fans than ever will be able to watch this historic season,” said Rick Fuson, Pacers Sports and Entertainment chief executive officer. TEGNA SVP/Media Operations Brad Ramsey added, “We could not be more excited to make these exciting WNBA games available to more fans, in more homes, across more markets, including Caitlin Clark’s home state of Iowa. We are grateful to the Pacers organization, the WNBA, and our broadcast partners for their trust, and for helping us create a first of its kind fan experience.” Gray Television COO Sandy Breland commented, “This is a key moment for women’s sports and live sports on broadcast television. Continuing Gray’s commitment to live local sports, Gray is beyond excited to bring the Fever free, over the air to local viewers in Cincinnati, Evansville, Fort Wayne, Lexington and South Bend.”

 

Stations airing the games (subject to change) include:

Indianapolis, Ind.: WTHR 13.1, 13.3 & WALV 46.1 (TEGNA)

Champaign-Springfield, Ill.: WCIX 49.1 & WCIA 3.1 (Nexstar)

Cincinnati, Ohio: WXIX 19.3 (Gray Television)

Davenport, Iowa: WQAD 8.1, 8.3 (TEGNA)

Dayton, Ohio: WKEF 22.3 (Sinclair)

Des Moines, Iowa: WOI 5.1 & KCWI 23.1 (TEGNA)

Evansville, Ind.: WFIE 14.2 (Gray Television)

Fort Wayne, Ind.: WPTA 21.3 (Gray Television)

Lafayette, Ind.: WPBY 35.1, 35.2 (Coastal Television Broadcasting Group)

Lexington, Ky.: WKYT 27.2 (Gray Television)

Louisville, Ky.: WHAS 11.1, 11.2 (TEGNA)

South Bend, Ind.: WCWW 25.1 & WMYS 69.1 (Weigel); WNDU 16.2 (Gray Television)

The 17 games available to viewers are:

Thurs., May 16 vs. Liberty, 7 p.m. ET

Wed., May 22 @ Storm, 10 p.m. ET

Sat., May 25 @ Aces, 9 p.m. ET

Thurs., May 30 vs. Storm, 7 p.m. ET

*Sat., June 1 vs. Sky, 1 p.m. ET (subject to change)

Sun., June 2 @ Liberty, 7 p.m. ET

Mon., June 10 @ Sun, 7 p.m. ET

Thurs., June 13 vs. Dream, 7 p.m. ET

Sun., June 23 @ Sky, 6 p.m. ET

Thurs., June 27 @ Storm, 10 p.m. ET

Wed., July 10 vs. Mystics, 12 p.m. ET

Mon., August 26 @ Dream, 7:30 p.m. ET

Wed., September 4 vs. Sparks, 7 p.m. ET

Sun., September 8 vs. Dream, 4 p.m. ET

Wed., September 11 vs. Aces, 7 p.m. ET

Sun., September 15 vs. Wings, 3 p.m. ET

Thurs., September 19 @ Mystics, 7 p.m. ET

TEGNA‘s Q1 2024 revenue fell 4% from last year, finishing at the midpoint of its guidance range, due to a retransmission consent impasse that impacted its “subscription” revenue.

That may not sit well with investors, as the revenue total fell $5 million short of the consensus estimate offered by six analysts polled by Yahoo! Finance. However, net income was up — thanks to a one-time non-operational dollar gain.

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Check out our roundup of photos from the spring NAB Show, where 61,000 people and one humanoid robot explored trends in tech.

Also, the Buyer’s Guide section features systems integrators and installers. Learn about the offerings of nine leading suppliers.

And in Workbench, Bill Ruck helps you prepare a carrying case for a Potomac field intensity meter.

Read it here.

 

The post Read the May 8, 2024 Issue of Radio World appeared first on Radio World.