As we reported yesterday, iHeart got into a bit of a battle with bondholders over its debt. Specifically, some of the lenders say iHeart violated covenants by transferring 100K shares of stock to a subsidiary called Broader Media. On Wednesday, the State District Court in Bexar County, Texas, issued iHeart a 14-day restraining order rescinding the notices of default issued by a several iHeart lenders. The court has the option to extend the temporary order another 14 days. As a condition to obtaining the temporary restraining order, iHeart agreed not to dispose of any additional shares until a hearing is held.
Even with only $425K in political revenue in Q4 of 2015, compared to $850K in 2014, Salem was able to increase broadcast revenue over 5%. When you back out political, as every public company loves to do, the increase was over 6%.
Despite still having issues with how Facebook algorithms push consumers to Salem's numerous websites, Salem reported an increase in digital revenue in Q4. The company took in $12.2 million in digital revenue, up 3.8% over 2014.
According to eMarketer digital advertising spending will grow 12.4% in 2017 to $77.37 billion, while traditional TV advertising climbs 2% to $72.01 billion. This year, digital is estimated to hit $68.82 billion, with TV hitting $70.60 billion. TV will take 36.8% of the total U.S. advertising pie with digital at 35.8%, print at 13.9% and radio at 7.4%. Now, let's take a closer look at the digital numbers.
The heart and center of Hispanic radio is heading to Fort Lauderdale as the industry’s most forward-thinking companies, researchers, and programmers attend the Hispanic Radio Conference March 22-23. Record numbers of Hispanic radio broadcast companies will be there,
Thanks to Cumulus Springfield Market Manager Craig Swimm for sharing the successful details about his team's 2016 CMN Radiothon at WMAS. The fundraiser broke an all time record by raising $343,377.
Industry vet and Univision EVP of Local Media Lee Davis has worked for a long list of iconic brands and well-known radio legends: WNBC, 1010 WINS, WFAN, Howard Stern, Mel Karmazin, Randy Falco, and Jose Valle just to name a few. We asked Davis to give as many of his secrets to success as he was willing to share. Here's what he had to say...
Compass Media Networks and Learfield have signed a multi-year extension giving Compass first right of refusal to broadcast any Learfield home football and men's basketball games and retains the exclusive national audio rights to broadcast the Big Ten Football Championship Game and the Big Ten Men's Basketball Tournament.
Hubbard Radio Seattle launched the CHR-focused Brooke & Jubal in 2011 on MOViN 92.5. Hubbard added the show to Portland's LIVE 95.5/KBFF-FM in 2015. Beginning March 14, Premiere will take over distribution rights to the show, which will continue to originate from KQMV in Seattle.
Edison Research President Larry Rosin is out with a new blog and the information he posted Tuesday is sure to cause a little controversy. Rosin says in Edison's most recent data, for the first time, among 18 to 24-year-olds, streaming audio (Pandora, Spotify, and others) has surpassed broadcast radio.