Radio+Television Business Report

Variety reports that Joe Budden has fired his co-hosts Rory Farrell and Jamil “Mal” Clay from the popular Joe Budden Podcast.

In episode 437 of the show, Joe berated his hosts on-air for disrespecting him in some way and fired them.

On Twitter Joe seemed to indicate that he may be ending the show when he responded to a fan by saying, “There are millions of podcasts, ppl will survive.”

So far, the episode has only been officially released to his Patreon subscribers and the episode is titled “You Want It To Be One Way…”

— Podcast Business Journal

The last time ViacomCBS had anything to do with audio, CBS Radio was a part of CBS Corporation, and a reunification of CBS and Viacom hadn’t yet been consummated.

Guess what? ViacomCBS is talking audio. Only, the discussion is fully focused on podcasts.

And, iHeartMedia is involved.

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Of all of the audio media companies to report its quarterly earnings results, one sticks out for its bold decision to dare to compare its Q1 2021 results to that of Q1 2019.

That would be Townsquare Media, where digital ad prowess is now propelling its stock in noteworthy ways.

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The Walt Disney Company has ended its fiscal second quarter of 2021 with 103.6 million Disney+ subscribers.

Uh-oh. Disney+ in early March said it surpassed 100 million subscribers for the first time, and it appears the excitement over the over-the-top platform is slowing down.

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Its shares now bear an aggressive 1-year target price of $4.13. Its publishing arm is performing well, and its non-secular spoken word AM Talk stations could win over listeners to the late Rush Limbaugh.

All seems great for Salem Media Group, yet its stock price is now two months into a decline that has put a firm break on a big Wall Street recovery.

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Standard Media Index, known for its global advertising spend and pricing data, has just released key findings from its Q1 2021 “Anglo Market Report.”

It’s a comprehensive look at English-speaking markets, looking primarily at North America, Australia and New Zealand, and the United Kingdom but not Ireland.

In these locales, SMI finds, combined ad spend has lifted 4% above the total recorded in Q1 2020 and 1% above the pre-COVID Q1 2019 period.

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From the south side of historic St. Augustine, Fla., sits a broadcast tower that’s home to a Class B AM with 230 watts after dark and 2kw when it’s light out. It uses an FM translator to give a little “revitalization,” too.

Now, both are heading to a new owner.

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On March 1, a California company focused on how cable television companies “can maintain its relevance” in the coming years as subscription video-on-demand (SVOD) continues to gain market share voluntarily reorganized by seeking federal bankruptcy protection.

At the time, the company, MobiTV, stressed it was “committed to working with its lenders and stakeholders towards a speedy and successful resolution” of its filing for relief under Chapter 11 of the U.S. Bankruptcy Code.

It’s now known that the successful resolution to its fiscal woes is a sale at auction of its assets to the highest bidder. The winning bid went to the parent of HD Radio.

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On Tuesday, Saga Communications shares rocketed upward by 30%. This immediately led to questions as to why that even CFO Sam Bush couldn’t answer, when contacted by RBR+TVBR.

Now, a SEC filing shows what led to the jump, and small retraction in share value seen Wednesday. And, it only presents more questions regarding Saga — and its largest shareholder.

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Shares of Black consumer-centric Urban One improved by 27 cents, to $4.87, on a day when nearly every media company stock price dipped — swept up in inflation fear worries.

The Dow Industrials were down by 2%, to 33,587.66. The Nasdaq index was down by 2.7%, to 13,031.68.

Joining UONE in a gain: Hemisphere Media Group, owner of Puerto Rico-based WAPA Television. HMTV gained 2%, to $12.25.

Otherwise, it was a dreary Wednesday for media stocks.

Audacy was down 5.4% to $4.02.

Veritone slipped 7.8% to $17.69.

Meanwhile, following its 30% surge on Tuesday, Saga Communications was down 8.5% to $25.10.

Now more than ever, companies are looking for ways to engage the remote workforce.

“A year after most of us were forced to work from home, I cringe when I hear from online meeting managers that they still struggle to get participants to turn on their cameras,” says noted communications and PR veteran Rosemary Ravinal, most recently with Univision Communications. “Speaking to a black tile on screen is a morale crusher. But when combined with overall lagging engagement and short attention spans, the situation becomes part of the broader challenge of team building on Zoom or your video platform of choice.”

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More radio stations reported running local news in 2020, new research from the RTDNA finds.

There’s one twist to that data, however. An increase among AM stations was seen, offsetting a slight decrease among FMs — even with NPR member stations experiencing a pandemic surge in consumption.

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Three unbuilt construction permits for low-power TV stations in Illinois, New Mexico and North Dakota, respectively, are being purchased by Roseland.

OK, so most New Yorkers may only know the former Roseland Ballroom on 52nd Street. One Gothamate knows of another, and it’s a Vice President at HC2 Broadcasting — the entity selling the facilities.

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Despite facing revenue shortfalls, budget cuts and unprecedented operational challenges, local TV stations aired more news in 2020 than ever recorded.

That’s the finding of a new RTDNA newsroom survey that also reveals 2020 saw a record amount of local TV news for the second year in a row.

In addition, a record number of stations are running local news.

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She began her career in 1997 as an assistant assignment editor at WPXI-11, Cox Media Group’s NBC affiliate in Pittsburgh.

Now, after some time in the South, she’s coming back to the Keystone State to serve as President/GM of a TEGNA ABC affiliate.

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Mark Chernoff, the veteran programming executive who is one of four members of the New York State Broadcasters Association (NYSBA) Hall of Fame Class of 2021, is stepping down on June 30.

While that puts a firm date on previously known news he’d be calling it a day, it is only now known who will be taking on the VP/Programming role for what is perhaps Audacy‘s most prestigious asset: Sports Radio WFAN-AM & FM in New York.

It’s hardly a surprise. The job is going to Spike Eskin.

Eskin is the Brand Manager of Sports WIP-FM, which successfully transitioned from Rocker WYSP, in Philadelphia. He’ll serve as the programming chief for not only the WFAN on-air brand, but also for CBS Sports Radio.

The transition date is July 1.

“Spike has the vision, creativity, and drive to craft the next chapter of the iconic and influential WFAN brand,” said Chris Oliviero, SVP and Market Manager for Audacy/New York. “Along with CBS Sports Radio, his experience will be ideal … As a long-time colleague of Spike, I am excited that he has joined our all-star team and have no doubt that he will succeed.”

Eskin added, “I’m humbled and excited for the opportunity to help lead WFAN into its next chapter. It’s an iconic station with incredible talent, and I’m looking forward to the challenge. I’m grateful to Chris Oliviero and Audacy for the opportunity. Working at 94WIP over the last decade has been one of the most rewarding experiences of my life. I’m grateful to David Yadgaroff for his belief in me and the staff who stepped up to every challenge.”

Eskin has been Brand Manager of 94WIP since 2014. Prior to that, Eskin held additional on-air and programming roles at the station and was a member of the WYSP staff.

On April 19, RBR+TVBR exclusively reported on the sale of WNUE-FM 98.1 in Deltona, Fla., as part of Entravision’s wind down of operations in the Orlando DMA.

The buyer is the operator of a “positive & encouraging Christian radio” non-commercial Contemporary Christian Music network, and programming has already shifted from secular Spanish-language programming.

Now, this Christian broadcast ministry is growing again, with the addition of FMs in the Treasure Coast and in the state capital.

Radio Training Network Inc., a Georgia-based non-profit corporation that owns The Joy FM, is agreeing to purchase WTSM-FM 97.9 in Woodville, Fla., presently an ESPN Radio affiliate, and Adult Contemporary WHLG-FM 101.3 in Port St. Lucie, Fla.

WTSM is a Class A covering Tallahassee from the southeast. WHLG’s Class A signal covers Martin and St. Lucie Counties, including Stuart and Fort Pierce; it is not to be confused with the original WHLG, at 102.3, which is today WMBX-FM.

The seller is licensee WJZT Communications, and licensee WHLG FM LLC, doing business as Horizon Broadcasting Co., led by Christopher D. Smith.

The deal was struck on May 5, with an asset purchase agreement posted to the FCC’s LMS after hours on Tuesday (5/11).

With Melissa G. Repp representing the seller, Horizon is pocketing $1.3 million from the asset sales.

A $65,000 escrow deposit is being held by Fowler Media Consulting, led by Todd Fowler, the buyer’s broker. Representing the seller is industry veteran Jay Meyers, of Broadcast Management & Technology.

With the divestments, Horizon’s holdings are reduced to WSBH-FM 98.5 in Satellite Beach, Fla., and WGSX-FM 104.3 in Lynn Haven, Fla. The station serve Melbourne and Panama City Beach, respectively.

For The Joy FM, the Florida footprint will now extend to the Panhandle, and closer to South Florida.

Listener-supported, The Joy FM in 2021 celebrates its 35th year of operation.

Alphonso Inc., recently rebranded as LG Ads, has successfully won a patent dispute with the developer of a content recommendation engine and viewer tracking application designed for Smart TVs regarding the use of television audience data for targeting viewers on digital devices.

It concludes 5 1/2 years of litigation, including a December 2018 Federal District Court ruling in Alphonso’s favor.

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If you didn’t think anyone could make money podcasting, think again.

The Interactive Advertising Bureau (IAB) has just released its U.S. Podcast Advertising Revenue Study, and it reveals that podcast advertising will grow as much in the next two years as it did in the past decade.

Do you want to learn how you can get in on some of that revenue? Join us in July for our virtual podcasting conference:
CLICK BELOW FOR MORE! How to Make Real Money Podcasting

 

Driven by a strong Q4 in 2020 (+37%), podcast ad revenues climbed to $842 million in 2020, up from $708 million in the year prior.

IAB projects podcasting will see $1 billion in ad revenue in 2021 and $2 billion in 2023.

Here are additional highlights from the IAB report:

• Dynamically-inserted ads, which enable ad placement at the point of listener download, increased share of revenue from 48% to 67% year over year.
• Announcer-read/pre-produced ads increased share from 27% to 35%.
• Host-read continues to represent over half of revenue by ad type.
• Brand advertising (45% of 2020 revenue) is approaching parity with direct response (51% of 2020 revenue).
• At 76%, mid-roll spot placements continued to account for three-fourths (76%) of revenues.
• Half of Podcast ads lasted longer than 30 seconds in length.
• News continued to be the top content genre for Podcast advertisers (22% market share).
• Direct-To-Consumer brands maintained the top advertiser category market share (19%), while Pharmaceuticals more than doubled in share Year-Over-Year (9%).