iHeartMedia's Q4 2016 revenue increased $40.1 million, or 4.5% thanks to strong political revenue. Even when you back out political, iHeart's Q4 revenue was up $19.9 million, or 2.2%. And, with that, iHeartMedia has turned in 15 consecutive quarters of year-over-year revenue growth.
That's what CFO Richard Bressler says, and he attributes that to iHeartMedia's massive scale and transformation into a multi-platform media company over the past five years. Bressler says iHeartMedia uses a master-brand strategy to increase the value of its radio stations and other brands, and Pixar is a great example.
And now to the item everyone wonders about. iHeart's debt. CFO Richard Bressler said, while staying focused on maximizing the value of the business, the company continues to look for ways to strengthen its capital structure. So how much debt does iHeart now have? Here's what Bressler had to say on the Thursday earnings call...
As expected, the FCC on Thursday approved an order that expands the site locations where FM translators can rebroadcast AM radio stations. The amended rule provides greater flexibility for an AM station to place a rebroadcasting FM translator in a location where it will better serve its AM station’s listeners. All three commissioners now on the FCC voted in favor of the order.
Is headphone and earbud listening even higher than the radio industry believes it to be? Radio executives are already concerned about being properly measured when listeners use headphones and earbuds. Now, consultant Alan Burns says, at least with women, this issue may be more serious than originally thought.
Univision has signed a multi-year extension on their agreement with Nielsen Audio. The renewal covers all of Univision's 64 owned and operated stations in 16 markets, which include the top 10 U.S. Hispanic markets, with an audience reach of more than 16.1 million listeners per week, as well as Univision's national radio network.
Alan Colmes, syndicated radio talk show host, and co-host and liberal half of the popular Fox political-debate show Hannity and Colmes, passed away Thursday morning. He was 66. Friend and “friendly adversary” Sean Hannity made the following statement...
Big news coming out of CBS RADIO Thursday as the company names veteran country music programmer Tim Roberts to his second VP role. Roberts will also retain his current position of VP of Music Programming for CBS RADIO Detroit, with direct programming oversight of Country station WYCD-FM, Classic Hits WOMC-FM, and Top 40 WDZH-FM.
During his Q4 earnings call, Entercom CEO David Field said he looked at buying both ABC and Citadel but was discipline enough to pass on those deals due to price, leverage and asset composition issues. "CBS has always represented the best fit, the strongest brands, people and culture and the optimal combined platform for the future."
Overall revenue for the quarter was up 5% and CEO David Field said it was another solid quarter of strong organic growth for the company. October and November were strong months for Entercom, with December being softer. Excluding political, same-station revenue was flat for the quarter. Entercom took in $4.7 million in political in Q4 and $8 million for the year.
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The Nebraska Broadcasters Association, established in 1972, will induct Craig Eckert into its Hall of Fame in a ceremony on August 15, during the NBA’s 82nd Annual Convention in La Vista, Nebraska. A Minnesota native, Eckert got the radio bug during a visit to the student radio station WMMR.
Pete Norden has begun work as the Area Senior Vice President of Sales. In this role, Norden will lead the sales team to create unique marketing opportunities that deliver a strong return on investment for clients, reaching consumers through iHeartMedia’s various assets. Norden has been with iHeartMedia for more than 19 years, most recently serving as the Market President in Sarasota for the past nine years.
Platinum-selling singer-songwriter Andy Grammer will perform at the 2017 Golden Mike Award, Monday, February 27, at the Plaza Hotel in New York City. This year, the Broadcasters Foundation honors Paul Karpowicz, President of Meredith Corporation’s Local Media Group, with the Golden Mike Award, and Bill Hoffman, retired President of Cox Media Group (CMG), with the 2017 Lifetime Achievement Award.
The Kicks 101.5 (Atlanta) morning host had surgery to install three stents to clear a blockage to one side of his heart, and is reportedly resting comfortably. The prognosis is good.
She comes to Q100 from KDND in Sacramento, to take over the 7 p.m. to midnight slot from Adam Bomb, who moves to afternoons. Ashley Z (aka Ashley Elzinga) has also worked with Ryan Seacrest Productions in Los Angeles as part of the digital media team, and was night personality at WKHQ in Traverse City, MI.
Westwood One has announced new podcast partnerships with NBC Sports Radio’s The Leisuremen, personalities Paul Pabst and Andrew Perloff; political website The Daily Wire, featuring two podcasts from Ben Shapiro and Andrew Klavan; and Entrepreneurs En Vogue, featuring Miss New York US, Iman Oubou.
Advisors to President Trump seem to be in the news constantly – and not necessarily for the best of reasons. But there’s good news for fans of one Trump insider with an impressive background in radio: Bill Bennett. Bennett has entered into a partnership with DGital Media to do The Bill Bennett Show weekly, debuting Thursday.
Hundreds of podcast hosts will be combining their powers in March to convert more listeners to the world of podcasts. According to Edison Research, one in five Americans listened to podcasts every month as of early 2016 – a number that has grown by double-digits for five years. But there are still plenty of folks who don’t know how to listen in.