Tuesday, August 3, 2021
Townsquare Media 2021 Second Quarter Net Revenue Up 45%. The company releases financial data for the second quarter of 2021 and reports net revenue was $107.3 million, an increase of 45% over the same period in 2020. Townsquare Media says it achieved 99.4% of Q2 2019’s net revenue when excluding Live Events net revenue. Total digital revenue growth was up 36% year over year and contributed approximately 47% of the company’s total net revenue in the first six months of 2021.
Townsquare CEO
Bill Wilson says, “Over the next three years, we expect double-digit digital net revenue growth to continue, fueling the growth of our digital platform from $180 million of revenue (on a trailing twelve-month basis as of June 30, 2021) to $250 million. Most impressively, I am extremely proud to report that Townsquare’s second quarter Adjusted EBITDA of $30.3 million not only exceeded our expectations, our previously stated guidance, and
2019 levels (+1% vs. Q2 2019), but it was also the highest Adjusted EBITDA generated in any single quarter in Townsquare’s history. To accomplish this strong result only one year after the start of the pandemic is a testament to the strength of the Townsquare team, our digital platform and solutions for local businesses, and our careful expense management efforts.” Wilson adds, “As a Digital First Company, our digital revenue and profit growth has accelerated, driving the diversification of our business, total company growth and separation from our local competition. I am incredibly optimistic about Townsquare’s future, and very proud that we are on the path to achieving 2019’s Adjusted EBITDA in 2021, on the verge of a full revenue recovery in 2021, and plan on delivering strong revenue and profit growth in 2022.” Townsquare reports in three segments: Townsquare Interactive – its digital marketing solutions subscription business; Advertising – including broadcast and digital advertising products and solutions; and Live Events – including concerts, expositions and other experiential events. Advertising net revenue for Q2 of this year was $85.9 million, an increase of 50.4% over the same period in 2020. The company also reports net income of $10.1 million compare to the net loss of $28.9 million it posted during the same period a year ago. As of June 30, 2021, Townsquare had a total of $25.1 million of cash and cash equivalents and $550 million of outstanding indebtedness.
Ralph Nader is This Week’s Guest on Harrison Podcast. Legendary consumer advocate, political activist, prolific author,
Pacifica radio talk show host and five-time presidential candidate
Ralph Nader is this week’s guest on the award-winning
PodcastOne series, “The
Michael Harrison Interview.” Harrison and Nader engage in a fascinating discussion about “left/right political
thinking” in America as well as social and business changes influenced by advancements in technology, plus more. Nader says working class Democrats and Republicans alike have far more in common than they have differences and that unbridled corporatism is the true enemy of the poor and working class regardless of race or political ideology. To listen to the podcast in its entirety, please click
here.Ramsey Network Unveils New Podcast, ‘The Fine Print.’ The newest podcast from Ramsey Network is a show that shines a spotlight on the deceptive methods companies, marketers and scammers use to influence money decisions. ‘The Fine Print’
is hosted by Ramsey personality
George Kamel and is “a bi-weekly show featuring interviews with experts and industry insiders about the money traps and trends keeping people broke.” Ramsey Solutions CEO and “The Ramsey Show” host
Dave Ramsey says, “For 30 years, I’ve heard the pain in people’s voices when they call into the radio show because of a money trap that’s left them in a world of hurt. What if we could prevent that pain by empowering people to avoid the trap in the first place? That’s what ‘The Fine Print’ does. George educates listeners to recognize and steer clear of money minefields so they can be the heroes of their own stories.” Episodes of the podcast include: How TurboTax Is Screwing You; Could Bitcoin Be Your Ticket To Wealth?; The True Cost of Credit Card Rewards; The Dirty Truth Behind Your Credit Score; and How the Robinhood App Steals from the Rich AND the Poor. Find out more
here.
LiveXLive and PodcastOne Announces Podcast Competition. This competition is called “Self Made Podcast Edition” and is “an audio competition to find the next big podcast star for PodcastOne.” The company says the competition will be driven by
fans and PodcastOne’s panel of judges, as they listen to see who will take the top prize, a podcasting contract with PodcastOne and a total package worth over $100,000 including promotion across the network which features a roster of celebrity podcasters, including
Adam Carolla,
Kaitlyn Bristowe,
Barbara Schroeder,
Michael Irvin, and
Jordan Harbinger.” The contest kicks off today (8/3) and is open to amateur podcasters only. The winner of “Self Made Podcast Edition” will be crowned on September 30, 2021 – International Podcast Day. PodcastOne president
Kit Gray says, “There are so many wonderfully creative and innovative podcasters out there. We’re excited to be able to offer someone the opportunity to make their dreams of becoming a self-made podcast host come true.” Learn more
here.
TALKERS News Notes. Tomorrow evening (8/4), a debate among a number of the candidates running to replace California Governor Gavin Newsom in the September 14 recall election will will take place and Salem Radio Network is distributing the event nationally. It’s taking place from 9:00 pm to 10:30 pm ET at the Richard Nixon
Presidential Library and Museum in Yorba Linda, California. SRN host
Hugh Hewitt – who serves as president of the Richard Nixon Foundation – will moderate the debate along with panelists
Christine Devine and
Elex Michaelson of KTTV-TV, Los Angeles “FOX 11 News” and former U.S. National Security Adviser Ambassador
Robert C. O’Brien. Special radio coverage will be anchored by KRLA, Los Angeles morning host
Jennifer Horn and KRLA news anchor
Larry Marino. SRN host and candidate
Larry Elder is declining to take part saying his goal is “defeating Gavin Newsom not appearing in a circular firing squad with other Republicans.”…..The application window for programming candidates interested in
applying to the “Elevating Women in Audio: MIW & BDSradio Mentorship” is being extended through Tuesday, August 10. The “Elevating Women in Audio: MIW & BDSradio Mentorship” program is a year-long experience for women in music programming, provided by
Mentoring and Inspiring Women in Radio and
MRC Data (formerly Nielsen Music). Personalized conversations with the best programming minds in the business are geared to help advance a career within the radio/audio industry.
Additionally, the mentee receives a scholarship to attend Radio Show 2021 this October in Las Vegas. The mentorship is available to one female brand manager, content/program director, assistant program director, and/or music director from any U.S. based music format. To apply, click
here…..Today through Thursday, WHO, Des Moines afternoon drive talk host
Simon Conway (left) is pulling double duty as he fills in for
Joe “Pags” Pagliarulo (right) on his
Compass Media Networks nationally syndicated program. Conway’s WHO show is also heard on
iHeartMedia’s WMT, Cedar Rapids and WOC, Davenport, Iowa.
COVID-19 Delta Variant and Masks, Eviction Ban Expires, January 6 Investigation, Voting Rights, Southern Border Policy, Infrastructure Bill, and Olympics Among Top News/Talk Stories Yesterday (8/2). The rising rate of COVID-19 Delta variant cases in the U.S. and abroad and the issue of mask mandates; the White House puts the onus on states as the federal ban on evictions expires; the investigation into the January 6 Capitol attack and the suicide of Capitol police officer Kyle DeFreytag; today’s planned DC rally supporting the For the People voting rights bill; the Bidenadministration continues the Trump administration policy of deporting illegal migrants; the $1 trillion bi-partisan infrastructure bill; and Simone Biles returns to the Olympics to win bronze in the balance beam were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
Audacy Greenville-Spartanburg news/talk WYRD “106.3 WORD” has an opening for a full-time, aggressive, curious reporter/anchor to add to our award-winning news staff. Candidates must demonstrate creative instincts in finding local stories. He or she must have efficient and effective writing skills and the ability to react to breaking news. The successful candidate should be familiar with news gathering tools and be comfortable with social network postings and usage, including video for digital assets. Experience writing, producing, and reporting news is required. If you are passionate about reporting news and creating compelling, story-telling news features for on-air and digital platforms, show us you have what it takes. Please submit your resume, cover letter, and work sample
here.
“The Sons of Liberty” and Bradlee Dean are looking for an affiliate relations person to take over the current line-up. With 153 affiliates
nationwide – as well as broadcasting in over 53 countries – “The Sons of Liberty” and Bradlee Dean rank as the #1 and # 2 show on the Genesis Communications Network (out of 65 show hosts); they seek to build even more. If interested please call 1-866-233-0747 or visit
here.
Tags: Adam Carolla, Adjusted EBITDA, Advertising, audio competition, Barbara Schroeder, Bill Wilson, Cedar Rapids, CEO, Compass Media Networks, Dave Ramsey, Davenport, Des Moines, digital revenue, Gavin Newsom, George Kamel, Hugh Hewitt, Jennifer Horn, Joe Pags Pagliarulo, Jordan Harbinger, Kaitlyn Bristowe, Kit Gray, KRLA, Larry Elder, Larry Marino, live events, LiveXLive, Los Angeles, Mentoring and Inspiring Women in Radio, Michael Irvin, net income, net loss, net revenue, news/talk radio, Pacifica, podcast, Ralph Nader, Ramsey Network, Ramsey Solutions, Salem Radio Network, second quarter, Self Made Podcast Edition, Simon Conway, Talkers Magazine, The Fine Print, The Michael Harrison Interview, Townsquare Interactive, Townsquare Media, WHO, WMT, WOC
Category: Front Page News, Industry News