ESPN Senior VP Traug Keller says we're experiencing a seismic shift in how consumers take in their audio. What he was talking about is the explosion in podcast listening. And he certainly has the numbers to back it up.
And if that happens, with the popularity of the iPhone, the sky is the limit for NextRadio. And Emmis CEO Jeff Smulyan will certainly keep pushing until he gets Tim Cook to flip that FM chip switch. NextRadio was the sponsor of the Wednesday lunch at the Radio Show in Nashville, Wednesday. That meant an opportunity for Smulyan to keep the pressure on broadcasters to continue to support and push NextRadio to their listeners.
That question was answered by Wells Fargo analyst Davis Hebert during his detailed economic presentation Wednesday morning at the Radio Show in Nashville. Hebert also said he expects radio to see a 1-2% increase in advertising revenue this year, and in 2017 he expects radio to give back about 1% because of fewer political dollars. So what do investors want? Here's Hebert's list.
It's clear many people in and around the radio business believe the debt issues both iHeartMedia ($20 Billion) and Cumulus ($2 Billion) are facing is a drag on the entire industry. At the Broadcast Finance Forecast panel at the Radio Show Wednesday morning, the issues facing those two companies came up several times during the 90 minute session.
Don Benson was first hired into the radio business in Nashville by the great Scott Shannon to answer phones. He would go on to become the CEO of Lincoln Financial from 2008-2015. On Wednesday, he received accolades from radio CEOs, former employees, and close friends as he accepted the 2016 NAB National Radio Award for his more than 40 years of commitment and service to broadcasting. In 2014, Benson was named Radio Ink's Radio Executive Of The Year. He's pictured here with his wife Martha after accepting the award Wednesday.
ABC Radio has further expanded its menu of offerings by adding radio shows and podcasts targeting female listeners. Covering everything from entertainment and lifestyle to family and relationships, the programs feature high-profile talent.
USRN is expanding its association with Scott Shannon by distributing his 24-hour True Oldies Channel to radio stations across the country. Shannon launched the channel back in 2004 and he still programs it and hosts on the channel.
If you're in Nashville this week, head to one of the magazine bins at the Omni Hotel, and grab the latest issue of Radio Ink. Open the issue up to the special Radio Wayne section and check out our exclusive interview with the new Cumulus CEO about her one-year anniversary and how she's improving the culture across Cumulus' hundreds of radio stations.
And that's thanks to the new subscription models being launched by online streaming companies, according to cNet. Sales from streaming music were up 8.1 percent to $3.4 billion in the first six months of 2016 compared with the same period last year, according to the website.
Texting provider Zipwhip has signed on 39 of CBS's radio stations, in 15 major markets, including New York, L.A., and Houston. The goal of the deal is to make engagement with CBS Radio listeners easier.