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| Pandora Lost $132 Million In Q1, Despite Losing Money, Revenue Was Up |
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| Radio Headlines For Tuesday 5-9-17 |
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 Following its Q1 earnings call, Monday, Pandora announced it received a $150 million infusion of cash from the investment firm KKR. And the company has made a public statement that it is "looking at all opportunities and to set a course for the future," and of course one of those options is a sale.
TechCrunch reports Pandora will look for a buyer before taking the money from KKR. [read more] |
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And that compares to $115 million the company lost in Q1 of 2016. The company says it ended the quarter with $203 million in cash and investments on the books, down from $243.3 million a year earlier. Pandora used $36 million of its cash to operate in Q1 of 2017, compared to $13.1 million in Q1 of 2016. The company projects it will lose another $50 to $65 million in Q2. [read more] |
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Pandora's revenue in Q1 was $316 million. Advertising revenue came in at $223.3 million, compared to $220.3 million in Q1 of 2016. The company said the only-modest year-over-year growth was due to several factors, including reassigning accounts to salespeople after a workforce reduction in January and clients signing contracts later than expected in the quarter. [read more] |
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 CEO David Field said his company's merger with CBS Radio is a game changer for Entercom, and the entire radio industry, and he expects the deal to close in the second half of the year, maybe even as early as the third quarter. Giving an update on the merger during his first-quarter earnings call, Monday, Field also said the company has had a significant number of strong offers for the stations that need to be divested in order to complete the merger. [read more] |
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 January was the strongest month for Entercom in Q1, February the weakest. Atlanta, Miami, and Milwaukee were the company's best-performing markets. Home furnishings, Telecom, and TV and Cable were the top-performing categories. Total revenue for the quarter came in at $97.5 million, including $300,000 in political, compared to $1 million in political in Q1 2016. [read more] |
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 In announcing the official name change Monday, CEO Alfred Liggins said, “More than 35 years ago, we proudly began representing Black culture by lifting our voices boldly, courageously and unapologetically. Urban One’s mission is to enhance and maintain our position as the largest distributor of urban content in the country.” [read more] |
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 And on May 23 at 1 p.m. we're going to show you how, as Ryan Steelberg, President of Veritone, and one of the world’s foremost experts in online advertising, co-hosts our first in a series of free webinars. Steelberg will reveal new AI tools that will help you and your advertisers increase ROI and campaign measurement. (REGISTER HERE). [read more] |
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 On Monday, Nielsen announced it has renewed its contract with CBS Radio for its 117 stations in 26 markets. CBS Radio will also use the Nielsen Data Management Platform, a Cloud application which, for the first time, includes using Nielsen Audio data from Nielsen’s PPM to connect with broadcast listeners through digital channels. [read more] |
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 The FCC's Chief Information Officer David Bray said the Commission has been dealing with multiple distributed denial-of-service attacks in its Electronic Comment Filing System which have caused delays for consumers who want to file valid comments. The Commission did not specify the problem was caused by Late Night TV host John Oliver who's been pushing his viewers to the site over Chairman Pai's plan to rollback Net Neutrality. [read more] |
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 CEO Ed Atsinger said he was quite pleased with the numbers for the quarter, due to the fact in Q1 2016 Salem took in $1.2 million in political revenue and this year only $100,000. Excluding political, Salem's broadcast revenue would have been up slightly. Total revenue for the company was $64.6 million. [read more] |
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 The only change to the weekly Media Monitors spot chart was Mattress Firm (29,550) and Boost Mobile (29,44) flipping one spot. The mattress giant was third last week and Boost Mobile moved down to fourth. The Home Depot (50,410) remained number one and GEICO (39,5360) number two. JC Penney rounds out the top five from last week (27,855). [read more] |
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 Brad Leask, Network Imaging Producer, NOVA Entertainment, Melbourne, Australia, captured the title of World’s Best Imager on Friday, May 5. He defeated 2016 Iron Imager Champion Sideshow Mike Andersen, Triple M Imaging, Southern Cross Austereo of Sydney, Australia, in the head-to-head live audio imaging competition presented annually by Benztown. [read more] |
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 It’s called Inside the Hive and it’s a collaboration between Vanity Fair’s Hive and DGital Media. Hosted by VF special correspondent Nick Bilton, the first episode streams May 19 and will feature Bilton in conversation with Bob Iger, Chairman and CEO of The Walt Disney Company. [read more] |
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 Designed for kids 5-12, the NPR podcast is called Wow in the World and looks at the wonders of science, technology, discovery, and inventions. Starting May 15, NPR’s Guy Raz and SiriusXM’s Mindy Thomas will take kids and their grown-ups on a journey into the most incredible science and kid-friendly news stories of the week. [read more] |
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 It’s a Cinco de Mayo kickoff for the new ESPN podcast, which features a rotating lineup of NBA insiders, writers, reporters, and hosts covering the latest news and analysis. Available daily, Monday to Friday, a new podcast comes out each Friday. [read more] |
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 The radio industry cheered when it became known that Ajit Pai would be elevated from FCC commissioner to the chairmanship thanks to President Trump’s 2017 designation. Pai has been a great friend and cheerleader for radio, and an advocate to fix the FCC’s archaic rules governing the industry. And, he's on the cover of the April 17 issue of Radio Ink Magazine. [read more] |
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 Does your company or station have a news item you'd like us to run in our morning headlines? Do you have a news tip we need to investigate? Is someone being promoted at your station you'd like to recognize? Send all the details to Radio Ink Editor Ed Ryan at edryantheeditor@gmail.com [read more] |
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 Thanks to Greg Merrill of Media Services Group for sending in this classic of himself from 1974 at KBLW-AM in Logan, Utah. The station was locally owned by a family at the time. We'd love to see your classic photo. Send us YOUR classic photo to
edryantheeditor@gmail.com [read more] |
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