Monday Memo: Profiting from the Pandemic. “Turning lemons into lemonade,” as consultant Holland Cooke puts it. In this week’s column he lists six retail opportunities his client stations are selling to right now. Read it here.

De-Fund Police Movement/Rayshard Brooks Killing, Seattle ‘Autonomous’ Zone, Trump Health, COVID-19 Statistics & Projections, Confederate & Colonial-Era Statues, U.S.-China Relations/Outbreak in Beijing, Presidential Race/Trump Tulsa Rally, Financial Markets/Jobless Claims, and MLB Negotiations Among Top News/Talk Stories Over the Weekend. The concept of de-funding police departments as demanded by some protestors and the cop shooting death of Rayshard Brooks in Atlanta; the controversy over the Capitol Hill Autonomous Zone in Seattle; the health of President Trump after his apparent unsteady gait at the West Point graduation on Saturday; the regions of the U.S. that are experiencing a rise in confirmed COVID-19 cases; the movement to remove public statues commemorating Confederate or Colonial-era figures; the tense U.S.-China relations and a new COVID-19 outbreak appears in Beijing; the November presidential race, concerns about voting practices, and Trump’s planned rally scheduled for Tulsa on Saturday; the activity in the world’s financial markets and the recent jobless claims figure for the U.S.; and negotiations between the players and the league as the MLB tries to salvage its season were some of the most-talked-about stories on news/talk radio over the weekend, according to ongoing research from TALKERS magazine.

Pending Business: Time to Practice. Sales and marketing consultant Steve Lapa, president of Lapcom Communications, writes in today’s column that “every performance-driven activity you can think of requires some form of practice. Athletics, the performing arts, public speaking, teaching, bar mitzvahs, all require practice. Even your doctor, dentist, and lawyer required practice before they could open their… practice. So, what about the professional sales rep? Sellers, especially in today’s warp-speed changing environment must practice.” Read his column here.

Beasley Reports Flat Q1 2020 Net Revenue; Net Loss of $8.8 Million. Reporting on its first quarter 2020 financial numbers, Beasley Broadcast Group Inc. – parent of Beasley Media Group – announces its net revenue was flat at $57.7 million compared to the same period in 2019. However, after posting operating income of $6.8 million in Q1 of 2019, the company posted and operating loss of $7.1 million in Q1 of this year. Beasley reported a net income of $1.4 million in Q1 of 2019 and this year is reporting a loss of $8.8 million. Beasley’s flat net revenue figure “reflects strong political advertising revenue, an increase in digital advertising, and esports revenue and contributions from the August 2019 acquisition of WDMK-FM, partially offset by a year-over-year decrease in commercial advertising revenue and other revenue related to the impact of the COVID-19 pandemic.” Beasley CEO Caroline Beasley says, “Despite these challenges, first quarter net revenue was $57.7 million, primarily reflecting strong performance across our station clusters in seven markets during the months of January and February driven by robust political ad spending and contributions from WDMK-FM, as well as significant growth in digital and esports revenue. However, our top-line growth was not able to fully offset the acute challenges brought on by the COVID-19 pandemic during the three-month period, resulting in a year-over-year decline in first quarter SOI and Free Cash Flow. During the first quarter, we continued to advance our digital transformation and revenue diversification initiatives across the company. In this regard, Beasley generated digital revenue growth of approximately 49% on a year-over-year basis, with digital accounting for approximately 9% of total first quarter revenue, compared to 6% of total revenue in the prior year period. In addition, Beasley launched the first major esports event featuring the Houston Outlaws, which the company acquired in November 2019, securing several new sponsorships as the team began competing in Blizzard Entertainment’s Overwatch League matches in February. With our focus on quality content production and consumer engagement, we are growing audience share across our digital and esports platforms while delivering multi-platform turnkey marketing solutions to advertisers and brands. Overall, we are pleased with the momentum and trajectory of these digital and esports initiatives, which have been less impacted by COVID-19, and look forward to this growth trend continuing throughout the remainder of the year and beyond.”

Saga Seeks News/Talk Programmer. Saga Communications holds every one of our news/talk stations in extremely high regard. Our 11 AM/FM news/talkers have been and remain a most important part of Saga’s large portfolio of stations. They are near and dear to Saga president/CEO Ed Christian’s heart with a love and passion for the format that is truly eternal. Saga has a rare opening for a focused and skilled news/talk program director at WHCU in Ithaca, New York. The Cayuga Radio Group has a total of 10 outstanding radio stations in virtually every format and is led by president/GM extraordinaire Chet Osadchey and our terrific operations manager Chris Allinger. Check out Ithaca! It’s home to some of the most prestigious colleges and universities in the nation such as Ithaca College and Ivy League member Cornell University. Looking to make a difference in one of the most beautiful parts of the country? We want to hear from you. Send your materials, including cover and resume, to operations director Chris Allinger at callinger@cyradiogroup.com. Join one of the premiere broadcast companies in the world. Saga is an EOE. No calls please.

News Anchor. With the retirement of a 35-year morning drive veteran, Chicago’s top-rated station, WBBM Newsradio, has a rare opportunity for a talented news anchor. Solid skills as a journalist are a must, including writing and reporting, along with strong on-air delivery and ability to handle high-pressure, breaking news situations with ease and grace. Requirements and expectations along with an online application can be found here. Entercom is an Equal Opportunity and Affirmative Action Employer.

PR Gigs. In response to the recent layoffs of approximately 300 public relations pros by the giant PR firm Edelman due to the COVID-19 crisis, Jerry McGlothlin, president of talk media-oriented PR company Special Guests, tells TALKERS he is interested in talking to ex-Edelman employees about contracting with his Hickory, NC-based firm stating, “One man’s floor is another man’s ceiling, and if Edelman is laying off productive, experienced PR pros, Special Guests is interested in providing them with an income in their new agency home. Our generous straight commission offer gives publicity professionals exiting Edelman the opportunity to earn more commission money from Special Guests than from than their former paycheck.” Any PR professional from Edelman is welcome to apply by emailing McGlothlin directly at jerry@specialguests.com.

Tags: Beasley Media Group, Blizzard Entertainment, Caroline Beasley, consultant, COVID-19, eSports, flat, Holland Cooke, Houston Outlaws, Lapcom Communications Corp, Marketing, net revenue, news/talk radio, operating income, operating loss, Overwatch League, pandemic, Q1, retail opportunities, Sales, sales rep, Steve Lapa, Talkers Magazine, WDMK-FM

Category: Front Page News, Industry News