Category Archives: Radio
Revamped Nielsen Total Audience Report Packages An Unprecedented Look At Audience Behavior
Today, Nielsen (NYSE: NLSN) released a reimagined Nielsen Total Audience Report. The representative of first-quarter 2018, the industry-leading report offers a comprehensive view into the behaviors and stories developing across the dynamic media landscape. The Nielsen Total Audience Report expands upon its established cross-platform capabilities and provides a complete look at critical media sources and audience behaviors across both traditional and emerging platforms.
The redesigned report includes data on relevant subjects not featured in prior versions, including a detailed look at the usage of streaming content, as well as homes with a virtual multichannel video programming distributor (vMVPD) that provide streaming access to linear television. Additionally, the report features enhanced data from Nielsen’s wide-ranging suite of measurement solutions. This includes Nielsen’s Total Media Fusion, a cross-platform respondent-level dataset that best reflects activity on digital devices like smartphones and tablets, as well as Nielsen’s MediaTech Tender, a quarterly consumer tracking survey launched in first-quarter 2018.
“The way people consume content is vastly different from what it was five years ago, let alone 10 or 20,” said Peter Katsingris, SVP, Audience Insights, Nielsen. “Consumers have the luxury of more options now than ever before. They can watch videos or listen to music on their smartphone and then just as easily engage with completely different content on their television or radio—the opportunities for how marketers can reach them are endless. Understanding the trends of who aisconsuming content, what they’re consuming, and how are the foundations of the industry. Nielsen is uniquely positioned to accurately help the media ecosystem understand these behaviors.”
With the advertising industry shifting and the evolving way, marketers connect to audiences, understanding the evolution of the media and developing consumer habits is vital to marketers and media owners seeking to reach their best consumer. The revamped Nielsen Total Audience Report seeks to not only make sense of the relationship between consumers and the various sources of media but ultimately build the bridges that will empower media companies and advertisers to take full advantage of the growing opportunities to reach audiences.
Nielsen is committed to providing accurate and reliable third-party measurement and insight. The inclusion of these new datasets and capabilities into this updated report helps align it better with the shifting dynamics of consumer media behavior.
KEY NIELSEN TOTAL AUDIENCE REPORT INSIGHTS:
- 92% of U.S. adults listen to radio each week, the highest reach across platforms.
- On average, U.S. adults are spending over 11 hours a day connected to linear and digital media and almost six hours a day with video alone.
- Young adults 18-34 spend the largest percentage of time with TV-connected devices and digital devices compared to other demographics.
- Black adults are the heaviest users of media overall. Compared to the overall U.S., Hispanics listen to more radio, and Asian Americans spend more time with computers and tablets.
- Nearly three percent of TV homes subscribe to a vMVPD which includes “skinny bundles.”
- Almost 20% of consumers say they use a smart speaker in the household.
- Two-thirds of U.S. TV households have devices capable of streaming content to the TV set.
- One out of 10 minutes of television use in streaming capable homes is streaming to the TV set.
- Over 8 in 10 non-television households still view video content.
Download the report here.
Urban One, Inc. Second Quarter 2018 Results Conference Call
Urban One, Inc. (NASDAQ: UONEK; UONE) will be holding a conference call for investors, analysts and other interested parties to discuss its results for the second fiscal quarter of 2018.
The conference call is scheduled for Wednesday, August 08, 2018 at 10:00 a.m. EDT. To participate on this call, U.S. callers may dial toll-free 1-800-230-1085; international callers may dial direct (+1) 612-288-0337.
A replay of the conference call will be available from 12:00 p.m. EDT August 08, 2018 until 11:59 p.m. EDT August 11, 2018. Callers may access the replay by calling 1-800-475-6701; international callers may dial direct (+1) 320-365-3844. The replay Access Code is 452281. Access to live audio and a replay of the conference call will also be available on Urban One’s corporate website at www.urban1.com. The replay will be made available on the website for seven days after the call.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements represent management’s current expectations and are based upon information available to Urban One at the time of this release. These forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond Urban One’s control, that may cause the actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially are described in Urban One’s reports on Forms 10-K, 10-Q, 8-K, S-3 and other filings with the Securities and Exchange Commission (the “SEC”). Urban One does not undertake any duty to update any forward-looking statements.
Urban One, Inc.
Phone Manufacturer to Unlock the FM Chip
TagStation LLC, the owner of the NextRadio® app, announced today that Samsung, the largest Android handset maker in the world, is the latest device OEM to continue its support for NextRadio by unlocking the FM Chip in upcoming smartphone models in the U.S. and Canada.
Many smartphones in the world are manufactured with hardware capable of receiving free FM radio signals. Market leaders like Samsung are taking the step of unlocking the FM Chip, which will allow Samsung users to connect directly with the NextRadio app, listen to their favorite local stations, and use less battery and less data than streaming radio apps.
“Samsung should be lauded for taking this important step,” said Paul Brenner, President of NextRadio powered by TagStation. “They are providing their customers a more engaging, immersive radio experience and, as importantly, a means to connect with life-saving information in emergencies.”
When cellular coverage is congested or unavailable, the FM Chip will provide life-saving information from local radio stations. On the heels of widespread natural disasters in Puerto Rico, Houston, and the Florida coast, calls have increased for all phone manufacturers to unlock the FM Chip in smartphones as a public safety necessity. Samsung joins LG, Motorola, and Alcatel in taking this step to both meet consumer demand and to provide a lifeline in emergency situations.
Quotidian Technical Highlights on Selected Radio Broadcasters Stocks — Liberty SiriusXM, Sirius XM, Entercom Communications, and Pandora MediaPosted by:Consultant, December - 03 - 2017
In keeping with the commitment to dynamically provide members with timely information, WallStEquities.com has issued free tailored Stock Review on LSXMA, SIRI, ETM, and P which is a click away at www.wallstequities.com/registration. Featured on WallStEquities.com today is the Radio Broadcasting industry, which consists of broadcasting stations, networks, and syndicates that transmit audio programming through AM, FM, and satellite radio channels. Equities under assessment this morning are The Liberty SiriusXM Group (NASDAQ: LSXMA), Sirius XM Holdings Inc. (NASDAQ: SIRI), Entercom Communications Corp. (NYSE: ETM), and Pandora Media Inc. (NYSE: P). Wall St. Equities has a wide array of free research reports which include today’s stock picks, register now to access them at www.wallstequities.com/registration
Liberty SiriusXM Group
On Thursday, shares in Colorado headquartered The Liberty SiriusXM Group recorded a trading volume of 816,297 shares, which was above their three months average volume of 505,510 shares. The stock ended at $40.77, declining 0.10% from the last trading session. The Company’s shares have gained 18.11% on a YTD basis. The stock is trading slightly below 200-day moving average by 0.55%. Furthermore, shares of Liberty SiriusXM have a Relative Strength Index (RSI) of 44.64.
On November 09th, 2017, Liberty Media Corporation, which comprises Liberty SiriusXM Group, announced the latter’s results for Q3 2017. Revenue for Q3 2017 was $1.4 billion, net income was $276 million, and diluted EPS was $0.06. Adjusted EBITDA was a quarterly record of $551 million, operating cash flow rose to $521 million, and free cash flow grew to a quarterly record of $434 million. Follow the link below to your free research report on LSXMA at www.wallstequities.com/registration/?symbol=LSXMA
Sirius XM Holdings
New York-headquartered Sirius XM Holdings Inc.’s stock finished yesterday’s session 0.36% higher at $5.50 with a total trading volume of 15.93 million shares. The Company’s shares have gained 1.10% in the last one month and 23.60% on a YTD basis. The stock is trading above its 200-day moving average by 3.02%. Furthermore, shares of Sirius XM, which provides satellite radio services in the US, have an RSI of 54.36.
On November 08th, 2017, Sirius XM announced a new line-up of exclusive programming for its Urban View channel on Sunday mornings. The new Sunday line-up features thought-provoking programming, including powerful sermons from today’s leading pastors, discussions on financial security, civics, health, wellness, and more. These new programs air Sundays on SiriusXM Urban View Channel 126, starting at 6:00 a.m. ET. The free technical report on SIRI can be accessed at www.wallstequities.com/registration/?symbol=SIRI
At the close of trading on Thursday, shares in Pennsylvania-based Entercom Communications Corp. saw a correction of 4.13%, ending the day at $11.60. The stock recorded a trading volume of 6.32 million shares, which was above its three months average volume of 3.39 million shares. The Company’s shares have advanced 4.98% in the last one month and 12.62% in the previous three months. The stock is trading 1.52% and 1.91% above its 50-day and 200-day moving averages, respectively. Moreover, shares of Entercom Communications, which operates as a radio broadcasting company in the US, have an RSI of 51.08.
On November 22nd, 2017, Entercom Communications (ETM) and the Philadelphia Eagles announced a seven-year agreement to extend their 25-year partnership with SportsRadio 94.1 (WIP-FM) beginning with the 2018 NFL season. This deal is part of ETM’s strategy to expand on its position as the unrivaled leader in sports radio after the Company’s successful completion of its merger with CBS Radio. Sign up for free on Wall St. Equities and claim the latest report on ETM at www.wallstequities.com/registration/?symbol=ETM
California headquartered Pandora Media Inc.’s shares ended the day 1.38% lower at $5.00. A total volume of 10.38 million shares was traded, which was above their three months average volume of 8.76 million shares. The stock is trading 26.29% below its 50-day moving average. Additionally, shares of Pandora Media, which provides Internet music platform services in North America, have an RSI of 30.80.
On November 03rd, 2017, research firm SunTrust downgraded the Company’s stock rating from ‘Buy’ to ‘Hold’.
On November 07th, 2017, Pandora Media announced ‘Up Close’ with Luke Bryan, an intimate live concert experience celebrating the release of his sixth studio album, What Makes You Country, due out on December 08th, 2017. The live concert will be held on December 06th, 2017 at the Altman Building in New York City. Bryan curated an exclusive mixtape for the Company’s listeners to hear music from his new album and receive details on the free, live event. See the free research coverage on P at www.wallstequities.com/registration/?symbol=P
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Jacobs Media Strategies, jācapps and Sonic Ai Reveal New Online Study Showing Smart Speaker Penetration Set to Surge During 2017 Holiday Shopping SeasonPosted by:Consultant, November - 30 - 2017
Study also finds more than one in six online households already owns a voice-controlled smart speaker such as an Amazon Echo or Google Home
The “Alexa Revolution” continues. Detroit-based research and consulting firms Jacobs Media Strategies and jācapps, along with partner Sonic Ai, today revealed details from a new national online study showing that one in five (20%) respondents age 13 and older with Internet access plan to purchase a voice-controlled smart speaker such as an Amazon Echo or Google Home during the 2017 holiday season.
Notably, more than one in six online households (18%) now own at least one smart speaker, with 40% of this group already having two or more of the devices in their household. Smart speaker owners are also especially likely to purchase another of these voice command gadgets for themselves or as a gift this holiday season. In fact, six in ten smart speaker owners (61%) plan to purchase at least one more device during this all-important gift-buying cycle.
The study also shows that one in ten online households (11%) specifically owns an Alexa-enabled Amazon smart speaker such as the Echo, Echo Dot and Show devices; the majority of these owners (69%) have at least one Alexa “skill” enabled, while 45% have two or more Alexa “skills” enabled.
This study was designed by Jacobs Media Research Director, Jason Hollins. “New technologies such as the proliferation of smart speaker devices undoubtedly bring challenges to the AM/FM landscape, but with that comes vast opportunities for radio as well as audio consumers alike,” said Hollins.
Bob Kernen, COO of jācapps, notes, “With Black Friday and Cyber Monday now in the rearview mirror, both Amazon and Google continue to compete heavily to get as many of their smart speakers, now at their lowest price points ever, into as large a number of households as possible. This data strongly suggests smart speaker ownership will take off in the coming weeks.”
“Smart speakers are clearly the must-have gadget for the holidays. Like anything else, habits will form quickly which is the remarkable opportunity for broadcasters and podcasters. They need a smart audio strategy for smart speakers,” said Steve Goldstein, co-founder of Sonic Ai.
To download summary slides, visit:
From November 17 to November 21, 2017, Jacobs Media Strategies, jācapps, and Sonic Ai conducted a nationally representative web survey among 1,005 online respondents age 13 and older using the Survata Publisher Network. Survata’s full methodology can be found at survata.com/methodology.
About Jacobs Media Strategies
Jacobs Media Strategies is a Detroit-based research and consulting firm, specializing in work with commercial radio, public radio, and digital media companies to inspire innovation, as well as to generate audience and revenue growth.
jācapps is the leading developer of mobile applications for the radio industry. With over 1,100 apps developed generating more than 25 million downloads, jācapps focuses on creating strategic mobile solutions. Developing smart speaker skills is part of the company’s App Everywhere™ strategy, providing mobile connectivity on smartphones, in cars via Apple CarPlay, Android Auto, and Ford’s Smart Device Link.
About Sonic Ai
Sonic Ai is a partnership between jācapps and AmplifiMedia, designed to create smart speaker software for radio stations, podcasters and media companies for the Amazon Echo and Google Home voice assisted devices.
In the absence of large deals, Q3 2017 registered the lowest quarterly deal volume of the year…
U.S. broadcast station mergers and acquisitions volume reached $189.6 million in the third quarter of 2017, according to estimates from Kagan, a media research group within S&P Global Market Intelligence. This is the lowest quarterly deal volume of the year, but the previous two quarters were skewed by two billion-dollar deals. The volume of Q3 2017 is still higher than Q4 2016 volume ($116.1 million) and that of seven other quarters since 2008.
$123.0 million came from radio deals, with almost 50% attributable to the sector’s top deal. In the absence of bigger commercial deals, the largest radio deal of the quarter was announced on September 26 by non-commercial Educational Media Foundation, which agreed to pay $57.75 million($3.75 per pop) for three FM stations that Entercom Communications had to spin off after its merger with CBS Radio.
Q3’s second-largest radio deal was the $19.5 million sale of four AM and fourteen FM radio stations and two FM radio translators from Alpha Media LLC to Dick Broadcasting Company Inc. The stations are located in four small markets in Georgia and the Carolinas.
There were ten other radio transactions between $1.0 million and $7.0 million, with all other radio deals in Q3 worth less than $1.0 million.
In the top TV deal of the quarter, announced on July 21, OTA Broadcasting (PSP) LLC sold its two stations in the Palm Springs, California, market to Entravision Communications Corporation for $21.0 million. We estimate a 7.5x forward seller’s multiple, while Entravision reported a buyer’s multiple of less than 6.5x.
EVINE Live Inc. sold its TV station WWDP in the Boston market to WRNN-TV Associates Limited Partnership for $10.0 million. EVINE Live also entered into a $3.5 million channel-sharing agreement with WMFP, allowing NRJ TV to operate that station on one-third of WWDP’s spectrum.
London Broadcasting sold KTXD in Dallas to Cunningham Broadcasting Corporation, the local marketing agreement partner of Sinclair Broadcast Group Inc. for $9.5 million and Southern California License LLC sold KAZA in the Los Angeles market to Weigel Broadcasting Co. for $9.0 million. KAZA, which in April sold its spectrum at the Spectrum Incentive Auction, entered a channel-sharing agreement with KHTV-CD, owned by Venture Technologies Group LLC.
All other TV deals in Q3 registered $6 million each or less, bringing the total quarterly TV deal volume to $66.6 million.
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SOURCE S&P Global Market Intelligence
RADIO ON THE DIGITAL CLIFF: A Study of the Changing Audio Entertainment Paradigm and Radio’s ResponsePosted by:Consultant, August - 30 - 2017
New Report Examines Changing Market for Audio Entertainment and Threats to Traditional Broadcast Radio
Highly respected music industry expert, and head of the Steinhardt Music Business Program at New York University, Larry Miller, released a special report today, titled PARADIGM SHIFT: WHY RADIO MUST ADAPT TO THE RISE OF DIGITAL, which details the current state of terrestrial radio in the United States. The report examines the significant business and social challenges faced by one of the country’s oldest media sectors. The paper was published this morning on Mr. Miller’s website, Musonomics.com, and provides an in-depth analysis of how and why audiences are abandoning radio as their primary source of music discovery and enjoyment and the resulting diminishing economic importance of radio to the music industry.
“Terrestrial radio is facing monumental challenges as streaming continues on its path to becoming the go-to place for current and future generations to enjoy and discover music,” says Professor Miller. “The emergence of new platforms and the corresponding behaviors of Gen Z listeners have reduced radio’s relevance to a very important and growing demographic. Advertisers are challenging radio’s audience targeting and measurement methods as they seek ways of connecting directly with consumers via mobile telephones and other platforms. Radio is at a crossroads as an industry.”
The report also reveals that the rise of digital music services like Apple Music, Spotify and Pandora are causing traditional radio listeners, particularly younger ones (12-24 years old), to flee terrestrial radio on a massive scale. This exodus is creating a dire situation for radio where the format’s long-held monopoly as the only audio choice behind the wheel is overthrown by new technology. Additionally, radio’s dominance as a promotional vehicle for popular music and as a taste-making platform for new recording artists is being contested like never before.
Among the report’s conclusions:
- New research confirms that Generation Z, who are projected to account for 40% of all consumers in the U.S. by 2020, are showing little interest in traditional media, including radio, having grown up in an on-demand digital environment.
- AM/FM radio is in the midst of a massive drop off as a music discovery tool by younger generations.
- By 2020, 75% of new cars are expected to be “connected,” breaking radio’s monopoly on the car dashboard and relegating AM/FM to just one of a series of audio options behind the wheel.
- Year over year, radio advertising revenue dropped 4% while digital/mobile spend was up 11% according to Standard Media Index’s Q2 2017 report, showing that even in local advertising, radio cannot sustain its dominance.
- Notwithstanding the digital radio platform developed by iHeartRADIO, for which the payment of a performance royalty is required, broadcast radio does not pay a sound recording performance royalty to artists and rights owners. Economists have concluded that innovation has stalled out, because, in general, the business remains focused on driving EBITDA through reduced content cost (no sound recording royalty obligation) as a result of government price suppression (to $0) by current public policy.
- As a result, radio’s importance to music industry revenue is rapidly diminishing. In a business now driven by access to music versus ownership, record labels have shifted their focus to digital platforms to introduce new artists and monetize back catalog.
The full report can be downloaded for free at musonomics.com.
United Way Final
Investment to Provide Pandora Capital to Unlock Full Value
SiriusXM (NASDAQ: SIRI) and Pandora (NYSE: P) today announced an agreement under which SiriusXM will make a $480 million strategic cash investment in Pandora.
Under the terms of the agreement, a subsidiary of SiriusXM will purchase an aggregate of $480 million in newly issued Series A convertible preferred stock of Pandora. SiriusXM purchased $172.5 million of Series A preferred stock upon execution of the agreement and has agreed to purchase the balance of the Series A preferred stock at a second closing. The Series A preferred stock will represent a stake of 19% of Pandora’s currently outstanding common stock and a 16% stake on an as-converted basis.
The Series A preferred stock is convertible into common stock at a purchase price of $10.50 per share. The conversion price of the Series A preferred stock is approximately a 14.2% premium to Pandora’s volume-weighted average price for the 20-day period preceding June 9, 2017. The Series A preferred stock will bear a 6% cumulative dividend, payable in cash, accretion of the Series A preferred stock or a combination thereof.
Through this agreement, SiriusXM is making a strategic investment in the leading U.S. provider of ad-supported digital radio. With a loyal quarterly audience of nearly 100 million listeners in the U.S., Pandora is by far the leading player in the burgeoning digital audio advertising market. The capital provided through the SiriusXM investment will allow Pandora to make targeted investments and capitalize on opportunities to build on its position in the streaming radio business.
Jim Meyer, Chief Executive Officer of SiriusXM, said, “This strategic investment in Pandora represents a unique opportunity for SiriusXM to create value for its stockholders by investing in the leader in the ad-supported digital radio business, a space where SiriusXM does not play today. Pandora’s large user base and its ability to provide listeners with a personalized music experience are tremendous assets. With its strong technology and new product offerings, we believe there are exciting opportunities for Pandora to accelerate its growth and increase value for Pandora and SiriusXM stockholders.”
“Liberty Media has long recognized the strength of the Pandora brand and the opportunities in the ad-supported digital radio market,” said Greg Maffei, Chairman of the SiriusXM Board of Directors and Chief Executive Officer of Liberty Media Corporation. “We are very supportive of SiriusXM’s strategic investment.”
When the transaction closes, three individuals designated by SiriusXM will be named to the Pandora Board of Directors. One of those individuals will serve as Chairman and SiriusXM designated directors will serve as select Board committee representatives. With these appointments, the Pandora Board will be expanded to consist of nine directors.
“Pandora’s Board and management team are committed to driving stockholder value and have carefully evaluated alternative strategies as part of the process disclosed on May 8,” said Tim Leiweke, member of Pandora’s Board of Directors. “We are pleased that the conclusion of that process resulted in a major investment by SiriusXM. With this investment, we have the backing of one of the media industry’s most successful investors and significant capital to accelerate growth. Pandora is now poised to advance to the next stage of the company’s lifecycle. Lastly, this transaction ensures that Pandora stockholders get the benefit of additional capital from an important strategic investor who can help enhance stockholder value.”
“The investment from SiriusXM infuses resources to help Pandora continue to grow and innovate,” said Pandora CEO and founder Tim Westergren. “With the strategic review behind us, and a strong balance sheet, we look forward to focusing on business execution and the optimization of our strategy.”
In connection with the transaction, Pandora agreed with an affiliate of Kohlberg Kravis & Roberts to terminate their Investment Agreement announced on May 8, 2017, and pay KKR a termination fee of $22.5 million.
Pandora is required to redeem the Series A preferred stock on the fifth anniversary of the closing for an amount equal to its liquidation preference plus all accrued and unpaid dividends. Pandora can also redeem the Series A preferred stock at any time after the third anniversary of the closing if the daily volume weighted average price of Pandora’s common stock is greater than or equal to 175% of the then applicable conversion price for a period of at least 20 days during a 30 day trading window prior to the notice of redemption.
SiriusXM will be subject to certain standstill restrictions, including, among other things, that it will be restricted from acquiring additional securities of Pandora for 18 months. After that period and for so long as a director designated by it is serving on the Board of Directors, SiriusXM has agreed not to acquire more than 31.5% of Pandora’s equity securities without the approval of Pandora’s Board of Directors.
The second closing contemplated by the agreement is subject to customary closing conditions, including antitrust approval, and is expected to close by the fourth quarter. The agreement may be terminated by either party if the closing has not occurred by February 1, 2018.
Additional information relating to the SiriusXM investment may be found in the Form 8-K that will be filed by Pandora with the U.S. Securities and Exchange Commission.
Allen & Company LLC and BofA Merrill Lynch are serving as financial advisors to SiriusXM and Jones Day and Simpson Thacher & Bartlett LLP are serving as its legal counsel. Centerview Partners LLC and Morgan Stanley & Co. LLC are serving as financial advisors to Pandora and Sidley Austin LLP and Wachtell, Lipton, Rosen & Katz are acting as legal counsel.