Month: March 2019
Westwood One to utilize Nielsen National Media Impact to quantify the effect of adding Network Radio to Television Media Plans
Today, Nielsen (NYSE: NLSN) announced that Westwood One has expanded its relationship with Nielsen to license the national version of Nielsen Media Impact (NMI) powered by Nielsen’s Total Media Fusion. Nielsen Media Impact is a cross-platform media planning and optimization solution that helps clients understand total campaign reach, frequency, and duplication using advanced audience segments. NMI will enable Westwood One to demonstrate the value that its unique audiences bring to an advertiser’s media plan and illustrate radio’s substantial incremental reach.
“With Nielsen Media Impact, we can show our advertising partners the effect on overall campaign reach and frequency when money is moved between media,” said Suzanne Grimes, EVP, Marketing, CUMULUS MEDIA and President, Westwood One. “Advertisers will be able to access this tool through the groundbreaking Westwood One ROI Guarantee audio insights platform. It’s a new dimension in making media investments work smarter for marketers using radio, podcasting, and streaming to drive ROI. We welcome the opportunity to demonstrate the power of adding audio to a media plan, giving agencies and brands the information they need to understand the true value of our medium in driving sales.”
“We are pleased to welcome Westwood One as a subscriber for Nielsen National Media Impact,” said Brad Kelly, Managing Director, Nielsen Audio. “With NMI we now have a much clearer understanding of how radio and TV complement, supplement and amplify one another. Westwood One is well positioned to make the most of this extraordinary new tool and shine a bright spotlight on how AM/FM radio can deliver more consumers that advertisers seek.”
“Brands are looking for strategies to fortify and enhance their TV plans, and as America’s largest audio network, we can now demonstrate the incrementality of adding radio to a media plan,” said Pierre Bouvard, Chief Insights Officer at Cumulus | Westwood One. “Radio makes your TV better, and now we have proof via the gold standard of Nielsen total audience measurement.”
In 2018, Nielsen enhanced Nielsen Media Impact, the industry-leading cross-platform media planning solution, to include national radio. Nielsen’s national radio data within Nielsen Media Impact allows buyers and sellers to understand the value of radio as a medium at the national level, as well as the incremental reach achieved by including national radio in the media mix. With the national version of Nielsen Media Impact clients can plan and optimize media allocation and compare total radio, radio formats and radio owner groups with other national media (including TV, digital, print, cinema, and digital place-based media) in advanced audience segments.
Townsquare Reports Strong Fourth Quarter: Net Revenue Rises 12% And Adjusted EBITDA Increases 9%
Saga Communications, Inc. Reports 4th Quarter and Year End 2018 Results; Net Operating Revenue increased 4.7% for the Quarter and 5.7% for the Year
Saga Communications, Inc. (Nasdaq: SGA) today reported net revenue increased 4.7% to $32.9 million for the quarter ended December 31, 2018. Income from continuing operations before tax increased $2.3 million to $6.0 million compared to $3.7 million last year. Operating income increased $2.1 million to $6.0 million and station operating expense increased $523 thousand to $23.8 million for the quarter. Diluted earnings per share from continuing operations was $0.72/share in the fourth quarter of 2018 compared to $2.52/share during the same period in 2017. During the 4th quarter of 2017, the Company recognized an income tax benefit of $11.2 million compared to an income tax expense of $1.7 million for the same period in 2018. The income tax benefit in 2017 was primarily due to an $11.5 million reduction in our deferred tax liability as a result of the Tax Cuts and Jobs Act. Free cash flow from continuing operations was $5.9 million for the quarter ended December 31, 2018, compared to $6.6 million for the same period in 2017.
Net revenue increased 5.7% to $124.8 million for the twelve months ended December 31, 2018. Income from continuing operations before tax increased $3.1 million to $19.4 million compared to $16.3 million last year. Operating income increased $2.5 million to $19.7 million and station operating expense increased $6.0 million to $93.7 million for the twelve month period. Diluted earnings per share from continuing operations was $2.30/share for the twelve month period in 2018 compared to $3.77/share during the same period in 2017. Free cash flow from continuing operations was $19.5 million for the twelve months ended December 31, 2018, compared to $17.4 million for the same period in 2017.
On a same station basis for the twelve months ended December 31, 2018, net revenue increased 1.1% to $116.5 million. Operating income increased $2.6 million to $19.4 million and station operating expense increased $642 thousand to $86.0 million.
The Company had $44.7 million in cash on hand as of December 31, 2018, and $40.7 million as of March 11, 2019. The Company’s total bank debt was $20 million of December 31, 2018, and $15 million as of March 11, 2019. Including the recently announced $0.30 per share dividend which will be paid on March 29, 2019, the Company will have paid over $64 million in dividends since December 3, 2012.
The results for the twelve month period ended December 31, 2017, were affected by the sale of the Company’s television stations and purchase of radio stations in Charleston and Hilton Head, SC on September 1, 2017.
Capital expenditures from continuing operations were $1.5 million in the fourth quarter of 2018 which was flat with the same period in 2017. For the total year, capital expenditures from continuing operations were $5.9 million in 2018 compared to $6.3 million in 2017. The Company expects to spend approximately $5.0 to 5.5 million for capital expenditures during 2019.
The Company closed on its purchase of the assets of radio stations WOGK(FM), WNDT(FM), WNDD(FM) and WNDN(FM), from Ocala Broadcasting Corporation, LLC on December 31, 2018. All the stations serve the Gainesville-Ocala, Florida radio market.
Saga’s 2018 4th Quarter and Year End conference call will be on Tuesday, March 12, 2019, at 11:00 a.m. EDT. The dial-in number for the call is 612/288-0329. A transcript of the call will be posted to the Company’s website as soon as it is available after the call.
The Company requests that all parties that have a question that they would like to submit to the Company to please email the inquiry by 10:00 a.m. EDT on March 12, 2019, to SagaIR@sagacom.com. The Company will discuss, during the limited period of the conference call, those inquiries it deems of general relevance and interest. Only inquiries made in compliance with the foregoing will be discussed during the call.
SOURCE: Saga Communications