Radio News

Add Salem Media Group to the collection of broadcast radio companies that enjoyed a powerful first quarter, with respect to earnings growth. But, unlike some companies, things are a little rosier at Salem. There was no net loss in Q1 2021, and the positive momentum only continued in the first three months of 2022.

Townsquare Media's mantra is that it is a "digital first" company, focused on markets outside of the top 50 DMAs that haven't experienced the erosion and heavy competition for advertising as some of the nation's biggest markets. In Q1 2022, the corporate game plan for Townsquare paid off: It posted the highest Q1 revenue and Townsquare's highest Q1 profit ever.

Since the start of Q4 2021, it's been nearly impossible for iHeart shares to regain the momentum seen in summer 2001. In fact, the nation's leading creator and distributor of audio content has seen its stock price dip considerably since April 11, without cessation. The result is a 55.6% drop in value for IHRT over the last 11 months.

When describing the first quarter results for Beasley Media Group, the company founded by her late father, CEO Caroline Beasley said they highlight "ongoing progress toward our goal of returning all of our revenue sources to pre-pandemic levels." Net revenue was on the rise. And, the net loss was lower.  Still, there was a net loss. 

In the vast majority of cases, a press release from a media broker signals the consummation or closing of a transaction involving the transfer of control of a radio or television station. Sometimes, they involve a broadcast tower. Now, one broker has helped bring together a radio industry buyer and a seller in a somewhat different way. Two public affairs programs are being dealt.

That's what CEO Bob Pittman said on the iHeartMedia earnings call Thursday as the company reported an overall revenue increase of just under 20% to $843 million. Pittman said podcasting revenue jumped 79% over 2021 to $69 million.

The family-owned licensee of radio and television stations headquartered in Madison, Wisc., has promoted a 30-year veteran to the top role for its radio division, giving her oversight of operations for the company's AM and FM properties.

What did Saga Communications CEO Ed Christian and CFO Sam Bush have to add beyond the straight numbers, which the company distributed without comment earlier in the day? Take a listen to this InFOCUS Podcast, presented by dot.FM, and you'll get to hear it from the Saga leader himself. LISTEN HERE

How did radio industry pure-play Saga Communications perform in the first three months of 2022? Perhaps "superb" is a proper superlative. Net revenue grew by 12%, as net income chugged upward and surpassed $1 million. Plus, there is $52.1 million in cash on hand as of May 2, putting Saga in a positive position as the second quarter reaches its halfway point.

Digital revenues are soaring. Cable TV advertising revenues were up substantially, too. Oh, and radio advertising — ex-political and digital — was up 17.4%. That's the first quarter fiscal health synopsis for the largest media and entertainment company in the U.S. superserving African-American consumers.

The subsidiary of SiriusXM focused on ad insertion and programmatic audio advertising known as AdsWizz has just signed an exclusive global audio advertising inventory agreement with a 10-year old entity that has carved a niche for itself as a streaming and discovery service in the R&B and Afropop space.

In a shareholder letter offering details of its Q1 2022 earnings performance, Cumulus Media made it clear where it stands on an unsolicited bid from a purported consortium led by Jeff Warshaw, the founder and head of Connoisseur Media. In short, Cumulus' board gave it a thumbs down while noting that it is open "to all paths that continue to drive superior shareholder value."

With shares rising by 8.3% in Wednesday's trading, Cumulus Media stockholders are digesting three key topics of interest concerning the radio station owner and Westwood One parent. There's the refusal to consider a buyout offer from Jeff Warshaw. There's a multimillion-dollar share buyback plan. But, how did Cumulus do in the three months ending March 31?

With the release of its Q1 2022 earnings report, Cumulus Media revealed that it is moving forward with a share repurchase program — "a clear reflection" of the Board's confidence in Cumulus' long-term operating plan.

Matt Siegel, after a two-week absence from iHeartMedia-owned WXKS "Kiss 108" in Boston, returned to the Top 40 station at 8am Eastern to make a special announcement. Was this the end of a storied 41-year ride at the station first made famous by Sunny Joe White that eventually ended up becoming iHeart's CHR/Pop jewel of New England? Yes.