Tuesday, May 10, 2022
Townsquare Media Reports Q1 Net Revenue Up 13%; Tops Pre-COVID Net Revenue by 7%. For the first quarter of 2022, Townsquare Media is reporting net revenue of $100.2 million, an increase of 13% over the same period in 2021 and an increase of 7% over the same period in Q1 of 2019. Townsquare is also reporting net income of 2.74 million for Q1 of 2022 compared to the loss of $6.1 million it reported in the first quarter of last year. Townsquare reports in three segments: 1) Subscription Digital Marketing Solutions – including its subscription digital marketing solutions
business, Townsquare Interactive. That segment reported revenue of $21.8 million, an increase of 15% over Q1 of 2021; 2) Digital Advertising – marketed externally as Townsquare Ignite that includes digital advertising on its owned and operated digital properties and its digital programmatic advertising platform. That segment reported revenue of $29.2 million, an increase of 16.6% over last year; and 3) Broadcast Advertising – including the company’s local, regional, and national advertising products and solutions delivered via terrestrial radio broadcast (plus other miscellaneous revenue associated with the broadcast advertising platform). That segment’s revenue was $48.1 million, an increase
of 7.7% over the same period a year ago. Townsquare CEO
Bill Wilson states, “I am proud to announce our strong start to 2022, with net revenue, Adjusted EBITDA and net income increasing year-over-year by +13%, +10%, and $8.9 million, respectively. In addition, net revenue and Adjusted EBITDA exceeded our previously issued guidance due to strong growth and strong margins. As a Digital First Local Media Company, our first quarter performance was driven by our digital platform and solutions, with total digital revenue increasing +16% year-over-year in the first quarter (representing 51% of our total Q1 net revenue) and total digital Adjusted Operating Income increasing +11% year-over year (representing 55% of our total Q1 Adjusted Operating Income). As we move forward, we expect double-digit digital net revenue growth to continue at strong margins, fueling our overall growth and subsequent debt reduction, from 4.66x net leverage today to 4.0x by year end. We are also pleased to re-affirm our 2022 guidance and our 2024 digital revenue target of at least $275 million. These results and confidence in our outlook are due, in part, to the fact that Townsquare is the only local media and digital marketing solutions company of scale focused principally on markets outside of the Top 50 in the United States, a vital differentiator for our company. Our new reporting segments highlight the profit characteristics of our digital platform, which is essentially equal to those of our broadcast platform, each with profit margins of approximately 30%. While we view local radio as an extremely valuable asset with significant and attractive cash flow properties, unparalleled consumer reach, and an important and trusted local connection to our audience and communities, it is not our primary growth driver. With approximately half of our total revenue and profit coming from digital today, we have a strong digital growth engine that will drive significant and consistent growth in the coming years. It is our belief that as a Digital First Local Media Company providing a detailed breakout of our digital revenue and digital profit, Townsquare should be afforded a sum-of-the-parts valuation that gives credit to our digital assets.”
FANTASTIC SPEAKER LINEUP AND AGENDA for TALKERS 2022.
TALKERS is presenting the 25
th annual installment of the talk media industry’s longest-running, largest and most important convention,
TALKERS 2022, on Friday, June 10, 2022 on the campus of Hofstra University in Hempstead, New York in association with the prestigious university’s multi-award-winning station WRHU Radio.
TALKERS 2022 will be a “who’s who” of the talk media industry…
Red Apple Media CEO/WABC, New York owner John Catsimatidis is set to keynote with special guest addresses to be provided by iconic Key Networks personality Bill O’ Reilly and FOX News Radio/FOX News Channel star Brian Kilmeade.
INCREDIBLE LINEUP: Speakers already booked with more to be announced (in alphabetical order): Dr. Asa Andrew, CEO/Host, The Dr. Asa Network (“Believe”); Bruce Avery, GM, WRHU-FM/WRHU.org, Hofstra University; Mike “Bax” Baxendale, Host, WAQY-FM (Rock 102), Springfield, MA; Marc Beaven, GM, WCBM, Baltimore; Vince Benedetto, CEO, Bold Gold Media; David Bernstein, GM Broadcast Operations, TALKERS; Michael Berry, Host, The Michael Berry Show (syndicated)/KTRH, Houston (local); Grace Blazer, VP, National NTS Brand Coordinator, Director of News and AM Programming Florida Region, iHeartMedia Miami; Phil Boyce, SVP/Spoken Word Format, Salem Media Group, Salem Radio Network/Operations VP, New York Region; John Caracciolo, President/CEO, JVC Broadcasting; John Catsimatidis, CEO, Red Apple Media/owner, WABC, New York; Kevin Casey, VP/executive editor, TALKERS; Heather Cohen, SVP, The Weiss Agency; Mandy Connell, Host, KOA, Denver; Michael Czarnecki, Director of Brand Operations, Binnie Media; Amy Daniels, PD, myTalk 107.1, Minneapolis-St. Paul; Kevin DeLany, VP, News & Talk Programming, Westwood One; Jimmy Failla, Host, FOX News Radio; Erica Farber, President/CEO, Radio Advertising Bureau; Alex Fife, VP Operations, Southeast, iHeartMedia – Total Traffic & Weather Network; Mike Gallagher, Host, Salem Radio Network; Dom Giordano, Host, WPHT, Philadelphia; Paul Gleiser, Owner/Host, KTBB, Tyler, TX; Lee Habeeb, Host/Producer, Our American Stories; Michael Harrison, Publisher, TALKERS; Erik Hellum, Chief Operating Officer, Townsquare Media, New York/RAB; Dottie Herman, Vice Chair, Douglas Elliman Real Estate/Host, Eye on Real Estate, WNYM (AM 970 The Answer), New York; Harry Hurley, Host, WPG, Atlantic City; Victoria Jones, executive director, DC Radio Company; Jeff Katz, Host, WRVA, Richmond; Brian Kilmeade, Host, FOX News Radio/FOX News Channel; Kraig Kitchin, President, Sound Mind, LLC; Josh Leng, CEO, Talk Media Network; Chad Lopez, President, Red Apple Media; Mike McVay, President, McVay Media Consultants; Frank Morano, Host, WABC, New York: John T. Mullen, OM, WRHU-FM/WRHU.org, Hofstra University; Chris Oliviero, Market President/GM New York, Audacy, Inc.; Bill O’ Reilly, Host/Commentator, Key Networks; Sid Rosenberg, Host, WABC, New York; Rob Schmitt, Host, Newsmax TV; Buck Sexton, Co-Host, The Clay Travis & Buck Sexton Show, Premiere Networks; Todd Starnes, Owner, KWAM, Memphis/Host, The Todd Starnes Show; Doug Stephan, Host, DJV Show/CEO, Stephan Multimedia; Walter Sterling, Host, Sterling On Sunday; Greg Stocker, PD, WPHT, Philadelphia; Julie Talbott, President, Premiere Networks; Joe Thomas, PD/Host, WCHV, Charlottesville, VA; Christine Travaglini, President, Katz Radio Group, New York/RAB; Paul Vandenburg, Owner/Host, WGDJ, Albany, NY; Dr. Daliah Wachs, Physician/Host, Genesis Communications Network; Lisa Wexler, Host WICC, Bridgeport/Probate Judge, Connecticut; Brett Winterble, Host, WBT, Charlotte; Larry Young, Host, WOLB, Baltimore; Rich Zeoli, Host, WPHT, Philadelphia; Martha Zoller, Host, WDUN, Gainesville, GA; and Michael Zwerling, Owner, KSCO, Santa Cruz, CA (more to be announced).
TALKERS publisher Michael Harrison says, “We are delighted to be able to join forces again with our colleagues at Hofstra – the site of our very successful 2021 and 2016 events – and enjoy the remarkable resources that its Lawrence Herbert School of Communication brings to the table.”
As was the case last year, this event will be held in a COVID-19 compliant environment based upon the circumstances at the time of the convention. As is its tradition, TALKERS 2022 will boldly address key issues – some existential – facing the talk radio and talk media industries at this dramatically critical juncture of rapidly accelerating technological and societal change as well as identifying the remarkable opportunities inherent in these developments. It will also provide participants with unique and powerful networking opportunities. Attendance at the conference is limited to members of the working media and directly associated industries as well as students enrolled in accredited learning institutions. All attendees will be required to register in advance on the phone with credit cards. Attendance will be limited, and the conference is again expected to be an early sellout. Full details about the agenda (more than 50 in-person, luminary speakers) sponsorship opportunities and hotel information will continue to be posted in TALKERS in the days ahead. The all-inclusive registration fee covering convention events, exhibits, food, and services for the day is $349. Because space will be limited and a sellout is anticipated, all registrations are non-refundable.
To register or to obtain sponsorship information, call Barbara Kurland at 413-565-5413.
Travel and Hotel Information for TALKERS 2022. The full-service Long Island Marriott Uniondale is serving as the closest and best hotel for TALKERS 2022. To reserve rooms, please click here. All New York area airports are a car ride away from the hotel and Hofstra: JFK (18 miles), LaGuardia (24 miles), MacArthur (34 miles), Newark (47 miles). Free and convenient parking information at Hofstra will be posted here shortly.
MIW Launches State Broadcasters Partnership Program. The non-profit organization Mentoring and Inspiring Women in Radio, Inc., dedicated to the advancement of female leadership in radio broadcasting, announces a new national
program designed to create mentorship opportunities in every state in the union. This three-to-five-year strategic plan exponentially expands the organization’s mentoring outreach across the United States. The first pilot program partners MIW with the
Minnesota Broadcasters Association to create, “Mentoring and Inspiring Women in Minnesota.” MIW’s long term plan includes establishing close working relationships with leadership from all interested state broadcasters associations and broadcasters across the country to create mentorship curriculums for female professionals in radio broadcasting. With MIW’s guidance, these state-centered programs will be based on the tenets, structure, and best practices of MIWs broad array of successful and established mentoring opportunities. MIW Board president
Ruth Presslaff says, “This program is designed to dramatically expand our mentorship outreach. We couldn’t ask for a better first partner than president
Wendy Paulson and the Minnesota Broadcasters Association as we work toward a mentee in every state. Cheers to the first. Forty-nine to go!” Find out more
here.
TALKERS News Notes. When the Radiodays Europe conference takes place in Malmö, Sweden May 15-17, Beasley Media Group CEO Caroline Beasley will take part in two
sessions. She will participate in a special one-on-one session titled, “American Regional Radio in the Digital Age,” hosted by
Benztown president
Dave “Chachi” Denes. In addition, Beasley will take part in the “Audio Summit” panel, featuring
Sibyle Veil (CEO Radio France),
Linda Pamgren (CEO Bauer Media Sweden) and
Cathinka Rondon (head of Radio-NRK). The session will be moderated by
Folder Media creative director
Matt 
Deegan…..The nationally syndicated, weekend shooting sports program “
Tom Gresham’s Gun Talk” adds
WBIN Media’s WTPL-FM, Hillsborough, New Hampshire and
Berkshire Broadcasting Corp’s WLAD-AM/W231DJ, Danbury, Connecticut to its roster of affiliate stations. The program is syndicated by
Talk Shows USA…..Chicago-based
MediaTracks Incorporated has sells “Radio Health Journal” and “Viewpoints Radio” to
American Urban Radio Networks, LLC. The two weekly public affairs programs are syndicated on a total of nearly 1,500 stations in more than 200 U.S. markets.
Bob Heymann of the Chicago office of
Media Services Group served as the exclusive broker for the seller in this transaction…..Audio content, marketing, and advertising services firm
Gemini XIII, joins forces with
Diversion Podcasts through an investment that will grow Diversion’s offerings under a new premium podcast network called Diversion Audio. Diversion Audio will become Gemini XIII’s content division. The division will leverage sister company Diversion Books’ publishing assets and author
relationships to offer a focused content model it says is unique to podcasting: expanding IP from books, authors, and personalities into the podcast medium as original audio content across both high-frequency episodic shows and engrossing narrative limited series. Gemini XIII co-founder and CEO
Spencer Brown says, “Through Diversion Audio, we will build upon the successful franchises and proven track record that
Scott [
Waxman] and his talented team have created at Diversion Podcasts. Together with our recent acquisitions of Phantom Producer and The Infinite Agency, Gemini XIII is well-positioned to optimize these premium assets and capabilities to build and grow a new breed of audio company. The creation of Diversion Audio advances that strategy considerably. We think podcast listeners and readers alike will love what they hear as we launch new podcasts tied to Diversion’s expansive intellectual property library.”
The Economy, Russia-Ukraine War, Roe v Wade, Midterms/Trump & the GOP, COVID-19, Vicki White/Casey White Manhunt, and Western Drought/Texas Wildfire Among Top News/Talk Stories Yesterday (5/9). The falling Dow and NASDAQ, the high price of gas & food, and concerns about a full-blown recession; Russia’s invasion of Ukraine and concerns about Vladimir Putin’s health and willingness to use nuclear weapons; the aftermath of the leak of a draft of the Supreme Court’s ruling to overturn Roe v Wade; the November midterm elections and Donald Trump’s influence over the GOP; the rate of cases, hospitalizations & deaths from COVID-19; the manhunt for Alabama corrections officer Vicki White and convict Casey White ends; and the drought in the U.S. West and the Texas wildfires were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
FOX News Media Seeks Freelance Radio Anchor. This is a New York or Washington, DC-based position. FOX News is looking for a freelance radio anchor to join the FOX News Audio family as on-air talent for FOX News Radio Network/FOX News Headlines 24/7 Sirius XM Channel 115. As the freelance radio anchor, you will work under tight deadlines and deliver top-notch newscasts. You have a passion for breaking news and the flexibility to work on a day’s notice. Find out more and apply here.
FOX News Media Has Opportunity for Freelance Producer/Editor. This New York-based position is a freelance producer/news editor role in which you will supervise the staff for network radio news operations (terrestrial and FOX News Headlines 24/7 – Channel 115 on SiriusXM Radio). As the freelance producer/news editor you are our editorial leader, working with news anchors to craft the content and structure of a 24/7 news operation. This is fast-moving news environment! Your ability to thrive in a fast-paced, deadline-driven newsroom allows you to deliver top-quality segments/newscasts. You excel at multi-tasking and pay close attention to details. Your writing and editing skills are excellent and your editorial judgment is first-rate. Find out more and apply here.
Podcast Producer Position Open at FOX News Media. FOX News Audio is looking for a producer for The Will Cain Podcast to be part of the fast-paced and growing FOX News Podcast Network. The producer for The Will Cain Podcast will develop ideas, pitch stories, and work with FOX News Channel talent in crafting daily and weekly podcasts. The producer will also direct bookings, edit shows, and work with production teams to create high-quality content every day. In addition to their production duties, they will also lead creative on social media posts and website write-ups to promote the product. This is a New York, Washington, or Nashville-based position. Find out more and apply here.
Tags: American Urban Radio Networks, Beasley Media Group, Bill Wilson, broadcast advertising, Caroline Beasley, digital marketing solutions, Diversion Podcasts, Gemini XIII, MediaTracks Incorporated, Mentoring and Inspiring Women in Radio, Minnesota Broadcasters Association, MIW, net income, net loss, net revenue, news/talk radio, pre-COVID, Q1, Radio Health Journal, Radiodays Europe, Ruth Presslaff, Talk Shows USA, Talkers Magazine, Tom Gresham's Gun Talk, Townsquare Ignite, Townsquare Interactive, Townsquare Media, Viewpoints Radio, Wendy Paulson
Category: Front Page News, Industry News