Fresh off what it characterizes as a “successful” refinancing effort — in which it moved the maturation date of about $326 million in debt from 2026 to 2029 — Cumulus Media this morning announced its earnings results for the first quarter of 2024, reporting total revenue of $200 million. That was down 2.7% versus a year ago, but in line with previously issued guidance. Read moreCumulus CEO Praises Debt Restructuring, Q1 Digital Revenue Increase.
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Inside Radio News
The radio industry is currently enjoying a contest renaissance, with enthusiasm running high, especially among men and Black workers. In fact, newly shared research shows that among daily listeners of local radio, an overwhelming 79% express positive attitudes about contests, with more than half saying they’re likely to participate at least sometimes. That takeaway was shared Thursday in the third and final installment of a three-part webinar series called “What Workers Want.” Read moreAre Contests Worthwhile? Unquestionably Yes, New Research Finds.
Saturday’s iHeartCountry Festival in Austin will not only broadcast on iHeartMedia’s country-formatted radio stations across the U.S., but will for the first time be available on Hulu, with performances live-streamed exclusively to subscribers at no additional cost. This year’s festival features performances from Jason Aldean, Keith Urban, Jelly Roll, Old Dominion, Lady A, Riley Green, Ashley McBryde, Brothers Osborne and Walker Hayes. Read moreiHeartCountry Festival Will Run On Its Local Stations, Stream On Hulu.
While the lead story of Entravision Communications’ Q1 2024 earnings conference call was Meta’s termination of its authorized sales partnership with the company, executives are keeping the accent on the positive, especially given a digital- and political ad-driven revenue increase for the quarter. While Entravision posted a 16% year-over-year increase in quarterly revenue, driven by its digital segment and political advertising revenue, audio’s revenue was $11.7 million, down 7%. Read moreFollowing ‘Transformative’ Q1, Entravision Focuses On Post-Meta Future.
Meruelo Media recruits programming veteran Pio Ferro as Senior VP of Audio Brands and Content, effective May 13. Ferro makes the coast-to-coast move from New York City, where he has been serving as Senior VP of Programming for Mediaco’s WQHT and WBLS. At Meruelo Media, Ferro will oversee heritage rocker KLOS, rhythmic CHR KPWR, classic hip-hop KDAY/KDEY, and Spanish CHR KLLI. Read morePio Ferro To Oversee Meruelo Media Los Angeles Cluster.
“Uncle Johnny” (John Marino), a semi-regular cast member of “Elvis Duran and the Morning Show,” has died. “This morning we say goodbye to our Uncle Johnny,” the show posted on Facebook, accompanied by a video of Marino offering a speech and singing at the 2019 wedding of Duran and Alex Carr. Read moreElvis Duran and the Morning Show Remembers ‘Uncle Johnny.’
WGTS Washington, DC partners with King Story Company to promote the new movie “Unsung Hero” based on the story of the Christian band For King & Country… Steve Inskeep, co-host of NPR’s “Morning Edition,” celebrates 20 years with the national program… KUNC Fort Collins, CO was recognized with the top award for podcasting at the Colorado Broadcasters Association awards. Read moreNews Bites: WGTS, Steve Inskeep, KUNC.
Apollo Global Management, a majority owner of Cox Media Group, has made a joint $26 billion offer with Sony Pictures Entertainment to by Paramount Global. The deal would potentially make Cox Media Group’s 50 radio stations and 15 TV stations cousins to CBS and local CBS-owned TV stations. Read moreTwenty-Six Billion Reasons To Buy: Cox Owner Apollo, Sony In Bid For Paramount.
Libsyn Ads says the average one-minute ad sold on its platform had a $21.75 CPM last month. That is slightly under the $21.94 average CPM seen in March. The podcast genre with the highest CPMs remained Technology in April, which was followed by Education and Comedy. Bargain hunters found deals in genres like Games, Kids & Family, and Religion & Spirituality The data is derived from sales across Libsyn Ads’ network of more than 1,500 shows. Read moreHighest Podcast CPMs In April Were On Tech, Education And Comedy Shows.
There is growing opposition to the FCC’s recent order requiring stations to supply data about their employees. A group of 19 Catholic broadcasters argues that the agency not only went beyond its legal authority, but the inclusion of a gender non-binary option on the required Form 395-B compels Catholic broadcasters to affirm and endorse gender categories other than the traditional “male” and “female” options. Read moreCatholic Radio Operators Ask FCC To Rethink Employee Data Collections Over New Gender Option.
More News
- Judge Clears Path For Audacy To Spin Greenville-Spartanburg To Norsan Media.
- ‘The Twister’ Bringing Familiar Voices Back To Wichita.
- 2024 Radio Hall of Fame Induction Ceremony Trades Windy City For Music City.
- By ‘Staying Focused On Our Core Brand,’ San Diego’s Sunny 98.1 Sees Strong AQH Gains.
- For Some MLB Fans, Radio Play-By-Play May Rise Once Again.
- Winner Of NPR’s College Podcast Challenge Tells Of His Own Mental Health Challenges.
Recent Stories
- April Auto Sales: Toyota Motor Keeps On Rolling.
- Pio Ferro To Oversee Meruelo Media Los Angeles Cluster.
- Passwaiter: U.S. Senate Races Drive Political Ad Spending.
- Cumulus Gets Three More Years To Repay $326 Million To Lenders.
- Around The Globe, Survey Finds Four In Ten Listen To Podcasts On A Weekly Basis.
- Cox Owner Apollo Global Makes Joint $26 Billion Bid With Sony To Buy Paramount.
People Moves
DJ Gary Shelton, known on-air as DJ Rax, Operations Manager, Cumulus Savannah, and Program Director for WEAS-FM and WTYB-FM died on Wednesday (5/1) at the age of 49. He was with Cumulus Media for almost six years. "Today, with heavy hearts, we bid farewell to Gary Shelton, Operations Manager for Cumulus Savannah. Gary (DJ Rax) was a cherished member of our team," said Eric Mastel, Regional Vice President/Market Manager, Cumulus Savannah. Read moreDJ Rax
Ashley McIntyre has been promoted to LSM at Beasley Media Group Las Vegas. She has been with the cluster for 11 years as an Account Executive. She started her industry career at KJKK Dallas. Read moreAshley McIntyre
Northwestern Media contemporary Christian “Life 102.5” WNWC Madison, WI has named Natalie Gross morning show co-host and engagement specialist. “Natalie brings so much joy and talent to the team,” PD/Morning Show Host Dave Conour said in a release. “She fits the ‘Northie’ culture in every way, and it’s an honor to have her join the morning show.” Read moreNatalie Gross
Dustin “Haze” Monroe joins iHeartMedia CHR “Z 107.7” KSLZ St. Louis as APD and afternoon host. Monroe previously worked in the market at KYKY and KNOU. Monroe has held on-air positions in Dallas, Austin, and Virginia Beach. Read moreDustin 'Haze' Monroe
Drew Walker exits Audacy country “US 99” WUSN Chicago, after 20 years with the station. Walker, who has most recently been hosting late mornings (9am-12pm), also handled mornings after the exit of Katie Bright and Jason Pullman in June 2020 and before the arrival of Melissa McGurren and Austin Huff. Walker, who also hosted afternoons at “US 99,” hinted at his next in-market move in a Facebook post. Read moreDrew Walker