Radio accounts for $210.0 million and TV $5.1 million in Q3 2019 deal volume
U.S. broadcast station mergers and acquisitions (M&A) volume reached a total of only $215.1 million in the third quarter of 2019 as tracked by Kagan, a media research group within S&P Global Market Intelligence. This is the lowest quarterly deal volume since the fourth quarter of 2016.
In the radio business, the largest deal of the quarter took place in New York, where Emmis Communications Corp. partnered with investment firm Standard General L.P. and founded a newly public company, Mediaco Holding, which will own and operate Emmis FM stations WBLS and WQHT. Standard General will pay $91.5 million in cash and a $5 million note receivable to Emmis, while Emmis will have a 23.7% minority stake in the new company.
The second-largest deal was Stephens Media Group’s acquisition of Mapleton Communications, which agreed to sell its 29 FM and eight AM stations, together with a number of boosters and translators, for $21.0 million.
Another $16.9 million was added to the radio deal volume through the sale of 12 AM stations and seven FM translators from Salem Media Group to Starboard Media Foundation, the parent company of Immaculate Heart Media. The deal was announced in two parts, with four AM stations and three translators sold for $8.2 million in July, followed by eight AM stations and four translators for $8.7 million in August.
In the TV sector, the only major deal of the quarter was the announced sale of KMBH-DT in Harlingen, Texas, from MBTV Texas Valley LLC to Entravision Communications Corporation for $2.9 million.
Nielsen’s Latest Report Reveals How Technology and Culture Drive Black Buying
African Americans want more for themselves and from corporate America, and they express it with their dollars as they move through the consumer journey, from brand awareness to purchase, as revealed today in Nielsen’s 2019 Diverse Intelligence Series (DIS) Report on African Americans.
It’s in the Bag: Black Consumers’ Path to Purchase explores the non-linear and uniquely technologically driven road that African Americans follow to make purchasing decisions, which ultimately maximizes both online and in-person shopping options. This path highlights several differences in shopping behavior and purchasing when compared to the total U.S. population. The report also includes deeper insights into how culture, socio-economics and business influences how, why and what motivates African American spending in a special co-authored section by advocate and media commentator Angela Rye, CEO and Principal of Impact Strategies.
“At 47.8 million strong and a buying power that’s on par with many countries’ gross domestic products, African Americans continue to outpace spending nationally,” said Cheryl Grace, Nielsen’s Senior Vice President of Community Alliances and Consumer Engagement and co-creator of the DIS Report. “This year, we wanted to help brands and marketers understand the multi-faceted process that Blacks take to buy the products they buy. There are several drivers, but culture is at the center of them all. Further, with their love for technology, they are much more savvy and conscious consumers. They are as we say, ‘woke.’ They pay attention to how companies are speaking to them. As they spend more, they want more for themselves and from the brands they support.”
Dating back to 2011, this is Nielsen’s ninth report highlighting the media consumption, purchasing habits, lifestyle interests and economic advancements of African Americans. It is the third in a theme, released by Nielsen this year following the comprehensive purchasing processes of Asian American and Latinx consumers. Key takeaways from It’s in the Bag: Black Consumers Path to Purchase include:
African Americans are welcoming recipients of advertising across all channels. However, while the trends of the Black buying power and over-indexing in spending continue to increase, companies’ investments to advertise to them have decreased.
- African Americans are more likely than the total population to agree that advertising provides meaningful information on most platforms, including a mobile (42% higher), television (23% higher), radio (21% higher) and the internet (18% higher).
- Advertising spend designed to reach Black consumers declined by 5% between 2017 and 2018.
Physical appearance reflects a sense of cultural pride and self-expression in the Black community. This is evidenced by the top spending priorities for African Americans from everyday soap to luxury handbags.
- African Americans outspend the total market on personal soap and bath needs by nearly 19% ($573.6 million).
- Men are making an impact on grooming habits, outpacing the total market by 20% on toiletry items.
- Blacks are 20% more likely than the total population to say they will “pay extra for a product that is consistent with the image I want to convey.”
- They are also more likely to say they shop at high-end stores including Saks Fifth Avenue (63%), Neiman Marcus (45%) and Bloomingdales (24%).
While online shopping grows, African Americans continue to head to physical stores for the personal touch and feel experience—but with more discerning eyes.
- More than half (52%) of African Americans find in-store shopping relaxing, compared with 26% of the total population.
- 55% of Black consumers say they enjoy wandering the store looking for new, interesting products.
- When shopping, African Americans are more influenced than the total population by store staff (34% more likely), in-store advertising (28% more likely) and merchandising (27% more likely).
The “for us by us” trend of Black-owned brands is profoundly impacting the African American path to purchase and consumer marketplace. Black consumers support brands that align with their lifestyles and values.
- African Americans dominate the ethnic hair and beauty aids category, accounting for almost 90% of the overall spend.
- 42% of Black adults expect brands they purchase to support social causes (16% higher than the total population).
- 35% of African American shoppers are more likely to agree, “when a celebrity designs a product, I am more likely to buy it.”
- Procter & Gamble (P&G) is the largest advertiser in African American media, spending more than a half-billion dollars ($544.3 million). Five of the top 20 baby care category products come from P&G’s Pampers and Luvs brands.
Soul food drives African American consumers’ top grocery purchases. These consumers are also passionate about the environment, wanting to buy safe, locally sourced food items.
- African Americans outpace the general market on Quaker grits ($19 million); Louisiana Fish Fry ($11 million); Glory Greens (frozen and fresh, $9.5 million combined) and Jay’s Potato Chips (nearly $2.7 million).
- 61% say produce is the most important category to buy local, followed by a bakery and prepared foods (56%), eggs (55%) and dairy (52%).
- Blacks over-index the total population concerned about food safety issues: antibiotic use in animal production (by 20%); artificial ingredients (by 19%) and GMO crop development due to climate change. The biggest worry is rising prices due to trade tariffs (68% Blacks vs. 56% total population).
“Nielsen continues to unearth undeniable data and insights that highlight both the agency and power of Black consumers, and the plethora of opportunities that exist for companies that are focused on nurturing and empowering how they move through the world,” said Jonathan Jackson, former 2019 Nieman-Berkman Klein Fellow in Journalism Innovation at The Nieman Foundation for Journalism and member of Nielsen’s African American External Advisory Council.
Nielsen uses U.S. Census data to determine population estimates that inform its U.S. panels and it’s understanding of consumer behavior. Given the rapid diversification of the U.S. population, an accurate census has never been more important. That’s why Nielsen has signed on as a 2020 Census Official Partner with the U.S. Census Bureau and utilized census data to show the economic and demographic impact of African American consumers. This is the second time the company has leveraged this partnership for the Diverse Intelligence Series, after the 2019 Latinx consumer report, released in August.
For more data and insights, download It’s In the Bag: Black Consumers Path to Purchase at Nielsen’s African American community site. Nielsen invites consumers to weigh in on the discussion using the hashtag #TruthBeTold on social media. Follow Nielsen on Facebook (NielsenCommunity) and Twitter (@NielsenKnows).
First-of-its-kind integrated global licensing solution makes podcast licensing easier for music creators
SoundExchange today announced plans to collaborate with SourceAudio to provide a new solution for the rapidly growing podcast industry to secure music with fully integrated, global licenses. The collaboration would provide Podcastmusic.com, a digital music marketplace for podcasters, with access to SoundExchange’s vast membership of music creators and offer to license for the label and publisher-owned music.
“The podcast industry is rapidly growing, and this collaboration will provide SoundExchange’s music creators – both labels and publishers – with an additional way to monetize their work by making their music available on Podcastmusic.com if they choose,” said Michael Huppe, President, and CEO of SoundExchange. “Our collaboration with SourceAudio will make the process of licensing music simpler through a one-stop licensing marketplace.”
With the podcast industry forecasted to produce more than $1 billion in advertising revenue by 2021*, Podcastmusic.com will provide music creators an opportunity to tap into this rapidly growing market by simplifying how podcasters license music for their programming.
This collaboration will enhance Podcastmusic.com’s current database of 700,000 production and music bed tracks by providing a global license for all rights needed to use feature music in a podcast, including master use, performance, synchronization, and mechanical rights. Through this digital marketplace, podcast producers will be able to license label and publisher-owned music with the click of a button.
“Currently there is no simple way for a podcaster to acquire rights for feature music in their podcasts. We are solving that by working with SoundExchange,” said Geoffrey Grotz, CEO/Co-Founder of SourceAudio. “By connecting with SoundExchange’s community of music creators including labels, artists, publishers and songwriters, and benefitting from their deep expertise, we will be able to deliver a high-quality repertoire of music for podcasters.”
The service will launch in 2020. Participation in this service by publishers, labels, and other rights owners is on a voluntary basis. Music creators interested in making their sound recordings available for podcasts can visit www.podcastmusic.com/rights-holders for more information.
* Interactive Advertising Bureau (IAB)/PwC. (2019). FY 2018 Podcast Ad Revenue Study: A Detailed Analysis of the US Podcast Advertising Industry: June 2019. Retrieved from https://www.iab.com/wp-content/uploads/2019/05/Full-Year-2018-IAB-Podcast-Ad-Rev-Study_5.29.19_vFinal.pdf
SoundExchange provides royalty solutions for sound recordings and publishing, serving as a critical backbone to today’s digital music industry. The organization collects and distributes digital performance royalties on behalf of more than 192,000 recording artists’ and master rights owners’ accounts. SoundExchange provides leading services to the publishing community through subsidiaries SXWorks and the Canadian Musical Reproduction Rights Agency (CMRRA). Its technology solutions help turn massive amounts of data into accurate revenue for creators and include: Music Data Exchange (MDX), International Standard Recording Codes (ISRC) Search, the Notice of Intention to Use (NOI) LOOKUP, and the Unclaimed Works Portal (via CMRRA Direct). To date, SoundExchange has paid out more than $6 billion in royalties. For more information, visit www.SoundExchange.com.
Based in Los Angeles, SourceAudio is a white label B2B music technology platform for publishers, labels, broadcasters, production companies, and creative agencies. Iconic brands across the media landscape leverage SourceAudio’s industry leading music search, distribution, licensing, monitoring, and management capabilities to generate revenue, enhance creative, and maximize efficiencies.
SourceAudio is also the same company behind other innovative, technology-powered music solutions like Alpha Libraries for Radio, the single largest production music resource for radio. Alpha Libraries has significantly enhanced the way radio groups and stations license music for programming, promos, commercials, jingles, and other production elements. Recently, SourceAudio launched PodcastMusic.com, a one-stop licensing solution for using music in podcasts.
Cadence13, ESPN, iHeartRadio, NPR, PodcastOne, Stitcher and Wondery reveal new shows and partnerships for 2019 in Detroit and San Francisco
The industry’s top podcast publishers and platforms are continuing a U.S. tour to unveil new shows, partnerships, and trends of 2019. Podcast Upfront, “Podfront,” launched in Los Angeles earlier this year, and will stop at the historic GEM Theater in downtown Detroit today and in San Francisco on Sept. 11.
Podfront Detroit will give advertisers, agencies, and media in the Motor City an up-close look at the newest partnerships, talent, and programming slated for the second half of 2019. With more than 26 percent of adults reporting having listened to a podcast in the car last year, presentations will explore podcasting’s strong brand partnership potential in Detroit, the heart of the American auto industry.
The upfront tour will continue across the U.S. with a stop in San Francisco in September, with an emphasis on insights and unique opportunities specific to Bay Area industries. Presenters in San Francisco will include Authentic, ESPN, iHeartRadio, NPR, PRX, Stitcher, WNYC and Wondery. More details on the presentations and hosts will be announced in the coming months.
Among the highlights planned for the Detroit Podfront:
Cadence13 will preview its fall slate, presented by C13’s Chief Revenue Officer Nick Freeman, including the next breakthrough docuseries from C13Originals, home of the No.1 podcast “Root of Evil” and critically acclaimed “Gangster Capitalism;” the lineup on C13’s Ramble network of influential creators; and the latest from Malcolm Gladwell and Jacob Weisberg’s Pushkin Industries, including Gladwell’s music podcast “Broken Record” and “The Happiness Lab,” hosted by Yale professor Laurie Santos. Tenderfoot TV co-founders Donald Albright and Payne Lindsey (host of “Up and Vanished”), will join Freeman to unveil a new anthology series of bizarre, scary, untold stories from the mind of Payne Lindsey, debuting fall 2019.
ESPN’s segment will be hosted by Daniel Dopp and Sarah Spain. Dopp, a Michigan native, currently hosts “Fantasy Focus Football,” “Fantasy Focus Baseball” and “Ariel Helwani’s MMA Show.” He also co-hosts “The Fantasy with Matthew Berry” on ESPN+. Spain is the host of the “That’s What She Said” podcast, part of the popular “Le Batard and Friends Network,” as well as “Spain and Company” on ESPN Radio. They will review ESPN’s focus on the podcast space through new talent and shows, new networks of verticals including “The LAF (Le Batard and Friends) Network” and opportunities focused on “sports passions” like NFL and NBA, as well as continued innovative and quality storytelling with “30 for 30” and “CFB 150.”
iHeartRadio will discuss the latest podcast trends and programming and its unique ability to provide scale through its broadcast radio stations to introduce podcasts to the vast majority of Americans. The iHeartPodcast Network features some of today’s most listened to podcasts, including “Stuff You Should Know,” “The Ron Burgundy Podcast,” “Disgraceland” and Chelsea Handler’s “Life Will Be the Death of Me.” iHeartRadio will give a sneak preview of its upcoming fall and winter lineup featuring some of the best creators in the medium – like Jake Brennan, Aaron Mahnke, and Will Ferrell.
NPR podcast hosts Sam Sanders of “It’s Been a Minute”; Glen Weldon and Stephen Thompson “Pop Culture Happy Hour;“ and Hanna Rosin and Alix Speigel of “Invisibilia“ offer an exclusive preview of what’s coming up on each of their programs this year. Gina Garrubbo, President and CEO of NPR’s sponsorship subsidiary, National Public Media, will present insights into spoken word listening habits, changing consumer patterns in audio and sponsorship offerings.
PodcastOne, home to “The Adam Carolla Show,” which holds the Guinness World Record for “most downloaded podcast,” reveals upcoming additions to their star-studded lineup, which includes Shaquille O’Neal, Ladygang, Steve Austin, A&E’s Cold Case and hundreds more. Featuring cameos by Adam Carolla, Rich Eisen, Kaitlyn Bristowe and other hosts, network CEO, Peter Morris, will also highlight the news-making successes from 2019 thus far, including the breakthrough hit “22 Hours: An American Nightmare,” the exciting projects to come and how advertisers can leverage these opportunities with innovative custom offerings.
Stitcher and its advertising arm, Midroll, will be represented by Chief Revenue Officer Sarah van Mosel and Chief Marketing Officer Amy Fitzgibbons. They will discuss the untapped potential of advertising in Detroit and why podcasts are a perfect fit for all industries within the city, ranging from automotive to high tech. Featured new shows include the breakout hit “Dead Ass” with social media influencers Khadeen and Devale Ellis, “Secret Lives of Black Women” with Charla Lauriston and Lauren Domino and the latest show from Team CoCo and Earwolf, “Three Questions with Andy Richter.”
Wondery, with hit programs such as “Dirty John,” “Life is Short with Justin Long,” “Imagined Life,” “Dr. Death” and “Business Wars.” Wondery’s mission is to bring a world of entertainment and knowledge to our audiences, wherever they listen. Wondery’s founder and CEO, Hernan Lopez, will reveal Wondery’s high-quality, emotionally immersive content slate for 2019. Wondery will demonstrate what it means to “feel the story,” and share how advertisers can be part of this brand-safe and high engagement medium.
In addition to the podcast presentations above, sponsors Authentic and Podcast Media Marketing (PMM) will also be onsite to meet with brands and share the latest opportunities in podcasting:
For 14 years, the team at Authentic has been the ad partners for top podcasts including “This American Life,” “Serial,” “The Motley Fool,” “This Week in Tech” and others. Leading brand and direct response agencies and advertisers rely on Authentic to test and scale successful podcast ad campaigns to reach their targets with measurable results.
Podcast Media Marketing, PMM, is the sales team for top podcasts including “The Joe Rogan Experience,” “Armchair Expert” with Dax Shepard, “This American Life” and “Serial.” PMM also represents other top comedy podcasts including “Your Mom’s House,” “Bertcast” and Andrew Santino’s “Whiskey Ginger.” PMM offers a unique approach to partnerships, pairing sponsors with individual shows and offering custom opportunities that extend beyond just spots.
Sun Broadcast Group will utilize Nielsen Media Impact to quantify the effect of adding Network Radio to Media Plans
Today, Nielsen (NYSE: NLSN) announced that Sun Broadcast Group has expanded its relationship to licensing 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. Nielsen Media Impact will enable Sun Broadcast Group to demonstrate the value that its unique audiences bring to an advertiser’s media plan and illustrate radio’s incremental reach.
“With Nielsen Media Impact, we can show advertisers the effect on overall campaign reach and frequency when money is moved between media,” said Jay Bailey, President, and Founder, Sun Broadcast Group. “As we continue to expand our footprint to better serve our affiliates, advertisers and partners across the country, the usage of Nielsen Media Impact will have a vital part in evaluating the efficiency of our plans and demonstrating the true value of radio in driving sales.”
Nielsen Media Impact is a personalized media planning solution that enables cost-effective decision making about where and when to engage audiences with content and advertising. For national planning, Nielsen Media Impact uses respondent-level data from Nielsen’s Total Media Fusion, which includes TV, video-on-demand (VOD), subscription VOD (SVOD), TV-connected device, digital, digital-place based, print, radio, and cinema. Nielsen national radio data within Nielsen Media Impact allows buyers and sellers to understand the value of radio as a medium at the national level and the incremental reach achieved by including national radio in the media mix. Along with the ability to compare radio with other national media, radio within NMI is flexible and includes several market breaks, including custom dayparts, radio formats, owner groups, and RADAR networks.
One Platform. All Media. Nielsen’s Total Media Fusion, the data fueling Nielsen Media Impact, incorporates the most granular respondent-level data from Nielsen measurement panels along with U.S. census calibration for the most comprehensive view of the media landscape in one data set.
“We are pleased to welcome Sun Broadcast Group as a subscriber to Nielsen Media Impact,” said Brad Kelly, Managing Director, Nielsen Audio. “The media landscape is evolving quickly. Cross-platform planning and buying are becoming ‘table stakes’ with big advertisers. Equipped with this powerful new Nielsen solution, Sun Broadcast Group will be using real data to effectively demonstrate how its radio assets can supplement and amplify the effectiveness of TV ad campaigns.”
Nielsen Holdings plc (NYSE: NLSN) is a global measurement and data analytics company that provides the most complete and trusted view available of consumers and markets worldwide. Our approach marries proprietary Nielsen data with other data sources to help clients around the world understand what’s happening now, what’s happening next, and how to best act on this knowledge. For more than 90 years Nielsen has provided data and analytics based on scientific rigor and innovation, continually developing new ways to answer the most important questions facing the media, advertising, retail, and fast-moving consumer goods industries. An S&P 500 company, Nielsen has operations in over 100 countries, covering more than 90% of the world’s population. For more information, visit www.nielsen.com.
ABOUT SUN BROADCAST GROUP
Named one of the fastest growing companies in America by Inc. Magazine three years in a row, Sun Broadcast Group is a national radio network reaching over 205 million listeners through its more than 5,500 affiliates in both English and Spanish-language. Headquartered in New York City and with offices in Boston and Boca Raton, FL, Sun offers ad sales representation, syndication, and programming support to producers, hosts and radio networks nationwide. Its growing program and sales offerings include the Sun Select RADAR® Network, The Hit List with Fitz, Country Fried Mix, The Michael Baisden Show, The Jim Brickman Show, Retro Pop Reunion, Throwback Nation Radio, Woody & Wilcox and many more.
Web Site: http://www.nielsen.com
National study also contains insights on implications for radio
Most podcast users are millennial males, listen weekly, and engage with podcasts at home, according to a major new study by the University of Florida College of Journalism and Communications (UFCJC) and Futuri Media, a leading audience engagement and sales intelligence technology firm.
Results were presented at the National Association of Broadcasters’ NAB Show on April 9 as part of a panel discussion titled “Radio’s New Analytics: Understanding Listeners, Delivering Results.”
The study, which included a national survey and in-depth interviews, was conducted in February 2019 with 2,000 regular podcast users who listened to podcasts in the past six months, and 18 participants who gave in-depth interviews on their habits. The study did not define podcasting vs. other types of on-demand audio, and respondents self-identified as podcast listeners. The study results suggest that consumers now consider several types of on-demand audio to be podcasts.
While the study was not limited to those who use terrestrial radio, the sample was large enough that it delivered several insights on the radio format preferences of those who also listen to podcasts regularly.
The study found that nearly three-quarters of users have been listening to podcasts for less than three years and, on average, listen to 4 podcasts per week for either 30 or 60 minutes. Users listen to podcasts on multiple platforms, but YouTube is far and away the dominant platform (70%), followed by Spotify (34%), iTunes/Apple Podcasts app (33%), Pandora (30%), and Google Play music app (23%).
Not surprisingly, nearly 80% of survey respondents listen to podcasts on their mobile devices. What is somewhat surprising is that the users listen to podcast most frequently at home (3.9 on a 5-point frequency scale), followed by in vehicles (2.8/5).
Politics and Government podcasts are the most popular, with 15% listing it as their favorite genre. Music was next (11%) followed by interviews/conversations, comedy, sports and recreation, and non-fiction storytelling, cited by 8 – 9% of respondents.
Listeners trust their podcast hosts highly, prefer host-read ads, and look for creative, informative, humorous, and integrated podcast experiences. They want to listen to hosts who are authentic, feel like a friend, and share the users’ passions and beliefs.
The study also found that among radio listeners who listen to podcasts regularly, 25-34 is the top age cell with both spoken word and music formats, with spoken word format attracting a more male audience (73% vs. 27% female), and music formats having a more even, but female-leaning split (51% female to 49% male). The top five favorite radio formats for regularly podcast listeners surveyed were Classic Rock (11%), Hip-Hop/Rap (10.9%), Country (10.4%), News/Talk (9.7%), and Alternative Rock (6.6%)
The study, which was supported by Futuri Media and their POSTpodcasting system, was designed and executed by UFCJC Telecommunication Professor and Director of Media Consumer Research Sylvia Chan-Olmsted with the help of doctoral student Ms. Rang Wang on the survey and undergraduate students in a capstone class who helped conduct the interviews. More insights from the study can be found at http://bit.ly/2019podcaststudy
SOURCE: University of Florida and Futuri Media
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
Nielsen Expands Nielsen Media Impact To Include Radio
Enhances Cross-Platform Media Planning Solution
Today, Nielsen (NYSE: NLSN) announced that Nielsen Media Impact (NMI) is expanding to include Radio as a media type available within its leading national cross-media planning and optimization solution. Nielsen Media Impact is a cross-platform planning solution available at a local and national level that allows users to understand cross-media reach, frequency, and duplication using advanced audience segments. This enables agencies, media owners, and advertisers to reach their desired audience with cost-effective media plans.
The Radio data will be derived from Nielsen’s National Regional Database (NRD) comprising Portable People Meter (PPM) and diary data. Nielsen national radio data within Nielsen Media Impact allows buyers and sellers to understand the value of radio as a medium at the national level and the incremental reach achieved by including national radio in the media mix. Along with the ability to compare radio with other national media, radio within Nielsen Media Impact is flexible and includes several market breaks, including Custom Dayparts, Radio Formats, Owner Groups and RADAR Networks.
“Having radio data incorporated into Nielsen Media Impact fills a clear need we have heard from the market,” said Jay Nielsen, VP, Product Leadership, Nielsen. “This enables clients to understand a more complete picture around advertising efficiencies across the media that consumers spend time with the most.”
“As the leading audio company in America with over a quarter of a billion monthly listeners on broadcast radio alone, we believe that including radio in Nielsen’s Media Impact offers a needed resource, enabling true comprehensive, cross-platform and cost-effective media plans for our national clients,” said Brian Kaminsky, President Revenue and Data Operations | iHeartMedia.
One Platform. All Media. Nielsen’s Total Media Fusion, the data fueling Nielsen Media Impact, incorporates the most granular respondent-level data from Nielsen measurement panels along with census calibration for the most comprehensive view of the media landscape in one data set. This means access to the de-duplicated insights necessary to make the most informed cross-platform decisions about where and when to engage your audience with advertising. The Total Media Fusion incorporates the following data: TV, radio, VOD, SVOD, mobile, tablet, desktop, print, cinema and digital place-based media.
Earlier this year, Nielsen launched Local Nielsen Media Impact, a local planning and optimization tool available in the 25 DMAs with Local People Meter (LPM) data, which included radio listening from the PPM’s in those markets. Having radio data in both national and local planning tools will give clients access to more comprehensive data for cross-media planning.