Record Revenue For SiriusXM In Q1
Thursday morning, CEO Jim Meyer told investors, "We had a fantastic first quarter. It was a quarter to be proud of." SiriusXM reported record Q1 revenue of $1.2 billion, up 11% over Q1 2015.
Pandora Revenue Increases 19%. Listener Hours Up
With Q1 2016 revenue of $275 million (which excludes ticket sales), Pandora's revenue was up 19% over 2015. Advertising revenue increased 23% in the first quarter of 2016 to $220.3 million, compared to $178.7 million in 2015.
Pandora Lost $115 Million In Q1
Revenue was up, listener hours were up, but the company is still struggling to make a profit. The $115 million loss in Q1 was compared to $48 million in Q1 of 2015. Content costs represented 58% of total revenue in Q1, an increase from the fourth quarter and year over year.
Westergren Lays Out His Vision
After abruptly taking over as CEO for Brian McAndrews in late March, Pandora founder Tim Westergren laid out his vision for the company he created 16 years ago. Westergren said he's returning to the helm at a very exciting time and admitted the company has had a rough couple of years.
$1 Billion In Revenue For ASCAP In 2015
It's the second year in a row the performing rights organization has topped the $1 billion mark in revenue. Domestic revenue was $716.8 million, up $61 million over 2014. Domestic distribution of that revenue was $573.5 million, up 6.2 percent over 2014. ASCAP, which is a non-profit, delivered $867.4 million in total royalty distributions to its 560,000 songwriter, composer, and music-publisher members in 2015.
Red Sox Renew With WEEI
Boston Red Sox baseball has been heard on WEEI since 1995 and it will continue until at least 2023. The deal was announced Thursday between the Red Sox and Entercom's sports station in Boston, WEEI.
Trump On Savage
As outsider Donald Trump closes in on the Republican nomination for President of the United States, he's agreed to be a guest on The Savage Nation with Michael Savage. Trump will appear on the program Friday at approximately 4:30 p.m. The Savage Nation airs from 3 -6 p.m. ET.
Reed Joins Cox In Tulsa
CMG Tulsa has named Nathan Reed as Director of Branding and Programming for Mix 96 (KRAV-FM). Reed was most recently Senior VP of Programming for iHeartMedia’s seven-station cluster in Toledo. Prior to that, he spent seven years as a Program Director and on-air host for Regent Broadcasting in Flint.
Is Your Radio Station Interactive?
Nextradio's Paul Brenner and Emmis CEO Jeff Smulyan have been saying from day one that the more interactive a radio station was in the NextRadio app, the more involved listeners would be with their stations on the app. And now NextRadio says it has the data to prove that philosophy.
iHeart Signs New Deal With University Of Louisville
WHAS-AM (Louisville), WWRW-FM (Lexington), WCKY-AM (Cincinnati), and WSFE-AM (Somerset) will carry the live football and men’s basketball games, including pre-game and post-game programming, as well as the coaches’ shows for each. Specific conflicts with WHAS-AM will be moved to WKRD-AM. Women’s basketball games will air on WKRD-AM.
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