Cumulus Q2 Revenue Declines 1.8%, Berner Expects $10 Million in 2018 Podcasting Revenue
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Radio Headlines For Tuesday 8-21-2018
Those were the words of Cumulus CEO Mary Berner and CFO John Abbot, who reported the company’s quarterly earnings to investors and employees Monday — the first such call since Cumulus' emergence from bankruptcy on June 4. Berner said the Cumulus business model is solid. [read more]
Fresh out of bankruptcy and back on the phone with investors, CEO Mary Berner reported on Monday that Q2 revenue was down from $290.5 million to $285.2 million, a decline of 1.8%. For the first six months of the year, revenue was off 1%, declining from $554.6 million to $549 million. [read more]
That is quite a jump from the $100,000 the Cumulus CEO says the company took in before this year. There is no doubt Berner sees podcasting as a major source of new revenue for the company as it grows the Westwood One Podcast Network, which Cumulus says reaches a quarter of a billion people each week. [read more]
This Friday, live at 9AM Eastern, on Podcasting for Radio Dummies our guest for the full half hour will be RawVoice / CEO, New Media Show host and Podcasting Pioneer Todd Cochrane. Todd is one of the most influential players in the podcasting space and is an encyclopedia of podcasting information.  [read more]
Radio Ink has learned from several sources that United States Traffic Network is winding down its radio operations. The last several months have been brutal for the traffic network, as Entercom has publicly berated the company about its financial problems. And Cumulus executives jumped on the bandwagon Monday when they announced they had to write off $5 million they were expecting from USTN. Here are all the details on USTN wind-down. [read more]
Cumulus executives told investors Monday that the USTN financial situation cost the company about $5 million in revenue in the second quarter, and it already has a long-term deal with a new provider. That provider is iHeart’s Total Traffic & Weather Network. Reports from TTWN will begin on Cumulus' 441 stations in September. [read more]
Beasley Media Group is the first company we’ve seen putting people specifically in charge of podcasting. The company plans to unveil a company-wide podcasting strategy later in the year. And on Monday, four of Beasley’s current employees were given the added title of Podcast Captain. [read more]
National morning show "The Kane Show," which originates from iHeartMedia’s Hot 99.5/WIHT in Washington, D.C., has launched three new podcasts related to the program. [read more]
Westwood One is launching a new podcast series focused on sports betting. "Ferrall on the Bets" features Scott Ferrall, host of CBS Sports Radio’s weeknight program "Ferrall on the Bench." Ferrall will give bettors the lines and picks for all major games being played that day. [read more]
77 WABC’s OG Podcast Network  has launched a new home improvement podcast, “Under Your Roof and In Your Backyard with Dean and Derek”. [read more]
After a few weeks behind GEICO, The Home Depot is back as radio’s number one advertiser, according to Media Monitors. With 51,306 spots aired on radio stations all over the country, HD pushed GEICO down to number two (32,915), while Lowe’s finished third (29,846), followed by Hyundai (26,773) and (25,617). [read more]
It’s a brand new 43,000 square foot state-of-the-art facility for iHeartMedia Boston’s WRKO-AM, WKAF-FM, and the recently acquired WZLX-FM and WBZ-AM. The company says the innovative space is designed to invoke collaboration and to embody the iHeartMedia brand. [read more]
Bonneville’s KOSI-FM in Denver is adding crosstown KWOF-FM morning personality Jenny D to its morning show as a co-host to Sean Henry. It’s a return to the cluster for Jenny; she worked as an air talent in the past at KYGO-FM. [read more]
iHeartMedia San Francisco has secured multi-year contracts for weekday morning hosts Marcus & Sandy on STAR 101.3 (KIOI-FM) as well as hosts of “The Morning Breeze” Jack Kulp and Carolyn McArdle, heard on 98.1 The Breeze (KISQ-FM). [read more]
Weaving an AI strategy successfully into your radio operation takes skill. Full mastery can come with advanced learning, and a free webinar in August accomplishes that with top-level knowledge and insights from Veritone. It’s broadcast media education at no cost, allowing executives, sales leaders, and AEs to gain a deeper understanding of AI. CLICK HERE. [read more]
In 2018, has been publishing advertiser success stories every Monday morning. We've found great local advertisers that are using radio to drive customers to their stores and dollars to their cash registers. We want to publicize your greatest advertiser success story of the year.  [read more]
Are you hearing things about your market? Let us investigate. Radio Ink Magazine is the only 25-year-old trade magazine in the radio industry. That's the result of a lot of trust over those years. Send all news tips in total confidence, and any other station news to Radio Ink Editor Ed Ryan at [read more]
Don't Miss Any News This Afternoon
Make sure you're registered for RBR+TVBR's daily newsletter, which delivers radio and TV business news every afternoon. Cumulus Media's Q2 earnings report was released following Monday's closing bell on Wall Street. Editor-in-Chief Adam R Jacobson has taken his magnifying glass and calculator out, and he's got a full assessment of how the company performed. Subscribe HERE to get the details.
This picture from 1952 is Al Sanders, founder of Ambassador Advertising Agency, who participated in the annual “Old Spanish Days” Fiesta Parade in Santa Barbara, California—on horseback!  Pioneers of Christian radio, Al and his wife Margaret celebrated 70 years of marriage on June 25. Send your Blast to [read more]

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