Blowback Over Audacy’s $825,000 Employee Contract

INSIDE …

  • Details of the lucrative pay package from the same guy who has been firing radio people.
  • A bonus for leaving?
  • What’s gotten into David Field to make him spend like this.
  • How does this bode for other employees ahead?

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Click to read previous stories: Programming to Short Attention SpansHow ChatGPT Can Help a Radio StationRadio Groups Pressured to Cut StaffVideo Podcasts More Popular Than AudioHow Radio Will Beat FTC’s Non-Compete BanAudacy Bankruptcy Becoming More LikelyAudacy on a Spending SpreeiHeart Suckers 43 Air PersonalitiesSaga’s First Big Bungle Invasion of Foreign Owners to Local Radio

You may also like: The Pivot Away from Podcasting …  Consolidators Adopt New Layoff StrategyAudacy’s Sale of Radio.com Exposed 2023 PredictionsConsolidator to Cut Sales CommissionsCh-ch-changes Ahead for RadioBongino Exit Only the BeginningMusic Tax Compromise May be NearA Threat Even Bigger Than No Car Radio

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Programming to Short Attention Spans

INSIDE …

  • Solutions to short attention span tune-out
  • What holds attention longer – one voice or two for shows and commercials
  • A no added expense way to keep audiences listening longer
  • A surprising finding about content and attention span

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Click to read previous stories: How ChatGPT Can Help a Radio StationRadio Groups Pressured to Cut StaffVideo Podcasts More Popular Than AudioHow Radio Will Beat FTC’s Non-Compete BanAudacy Bankruptcy Becoming More LikelyAudacy on a Spending SpreeiHeart Suckers 43 Air PersonalitiesSaga’s First Big Bungle Invasion of Foreign Owners to Local RadioThe Pivot Away from Podcasting

You may also like: Consolidators Adopt New Layoff StrategyAudacy’s Sale of Radio.com Exposed 2023 PredictionsConsolidator to Cut Sales CommissionsCh-ch-changes Ahead for RadioBongino Exit Only the BeginningMusic Tax Compromise May be NearA Threat Even Bigger Than No Car RadioCumulus Scrambles to Sell More Assets 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

How ChatGPT Can Help a Radio Station

INSIDE …

  • Six specific things artificial intelligence can now do for radio stations at no cost.
  • How AI can help discover new music – the number one interest of in-demo listeners.
  • Microsoft is considering investing $10 billion in ChatGPT – here’s an early look as to why.
  • The future for radio jobs if AI takes off.

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Click to read previous stories: Radio Groups Pressured to Cut StaffVideo Podcasts More Popular Than AudioHow Radio Will Beat FTC’s Non-Compete BanAudacy Bankruptcy Becoming More LikelyAudacy on a Spending SpreeiHeart Suckers 43 Air PersonalitiesSaga’s First Big Bungle Invasion of Foreign Owners to Local RadioThe Pivot Away from PodcastingConsolidators Adopt New Layoff Strategy

You may also like: Audacy’s Sale of Radio.com Exposed 2023 PredictionsConsolidator to Cut Sales CommissionsCh-ch-changes Ahead for RadioBongino Exit Only the BeginningMusic Tax Compromise May be NearA Threat Even Bigger Than No Car RadioCumulus Scrambles to Sell More AssetsCash Infusion Deals Exposed

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Radio Groups Pressured to Cut Staff

INSIDE …

  • The most likely radio group to start cutting personnel first
  • How many gross firings can be expected
  • Layoffs net minor savings so what triggers radio groups to do them
  • One radio group may even see their CEO kicked out

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Click to read previous stories: Video Podcasts More Popular Than AudioHow Radio Will Beat FTC’s Non-Compete BanAudacy Bankruptcy Becoming More LikelyAudacy on a Spending SpreeiHeart Suckers 43 Air PersonalitiesSaga’s First Big Bungle Invasion of Foreign Owners to Local RadioThe Pivot Away from PodcastingConsolidators Adopt New Layoff StrategyAudacy’s Sale of Radio.com Exposed

You may also like: 2023 PredictionsConsolidator to Cut Sales CommissionsCh-ch-changes Ahead for RadioBongino Exit Only the BeginningMusic Tax Compromise May be NearA Threat Even Bigger Than No Car RadioCumulus Scrambles to Sell More AssetsCash Infusion Deals ExposedNot So Fast on No Saga Sale 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Video Podcasts More Popular Than Audio

INSIDE …

  • The research that has radio consolidators concerned
  • The new podcast tool TikTok is currently testing
  • Using music to get short attention spans to focus on podcasts

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Click to read previous stories: How Radio Will Beat FTC’s Non-Compete BanAudacy Bankruptcy Becoming More LikelyAudacy on a Spending SpreeiHeart Suckers 43 Air PersonalitiesSaga’s First Big BungleInvasion of Foreign Owners to Local RadioThe Pivot Away from PodcastingConsolidators Adopt New Layoff StrategyAudacy’s Sale of Radio.com Exposed2023 Predictions

You may also like: Consolidator to Cut Sales CommissionsCh-ch-changes Ahead for RadioBongino Exit Only the BeginningMusic Tax Compromise May be NearA Threat Even Bigger Than No Car RadioCumulus Scrambles to Sell More AssetsCash Infusion Deals ExposedNot So Fast on No Saga SaleAQH Erodes As Listener Demands are Ignored

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

How Radio Will Beat FTC’s Non-Compete Ban

INSIDE …

  • The workaround already in the works
  • “Firing” horror stories that radio groups cover up – revealed
  • New ways to retaliate against sellers, managers and talent
  • How soon could radio see non-competes disappear

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Click to read previous stories: Audacy Bankruptcy Becoming More LikelyAudacy on a Spending SpreeiHeart Suckers 43 Air PersonalitiesSaga’s First Big Bungle Invasion of Foreign Owners to Local RadioThe Pivot Away from PodcastingConsolidators Adopt New Layoff StrategyAudacy’s Sale of Radio.com Exposed2023 PredictionsConsolidator to Cut Sales Commissions

You may also like: Ch-ch-changes Ahead for RadioBongino Exit Only the BeginningMusic Tax Compromise May be NearA Threat Even Bigger Than No Car RadioCumulus Scrambles to Sell More AssetsCash Infusion Deals ExposedNot So Fast on No Saga SaleAQH Erodes As Listener Demands are IgnoredTaylor Swift Fans Go After Ticketmaster

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy Bankruptcy Becoming More Likely

INSIDE …

  • What’s the critical importance of April to Audacy
  • They wouldn’t do a brutal employee layoff after just giving their digital chief over a million in salary and incentives, would they?
  • How the sale of Cadence13 and Radio.com URL is going
  • What to expect when Audacy is delisted from the NYSE

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Click to read previous storiesAudacy on a Spending SpreeiHeart Suckers 43 Air PersonalitiesSaga’s First Big Bungle Invasion of Foreign Owners to Local RadioThe Pivot Away from PodcastingConsolidators Adopt New Layoff StrategyAudacy’s Sale of Radio.com Exposed2023 PredictionsConsolidator to Cut Sales CommissionsCh-ch-changes Ahead for Radio

You may also like: Bongino Exit Only the BeginningMusic Tax Compromise May be NearA Threat Even Bigger Than No Car RadioCumulus Scrambles to Sell More AssetsCash Infusion Deals ExposedNot So Fast on No Saga SaleAQH Erodes As Listener Demands are IgnoredTaylor Swift Fans Go After TicketmasterFinancial Troubles at SiriusXM 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Townsquare May Shut More AM Stations

INSIDE …

  • Townsquare’s thinking behind shutting more AM stations.
  • The big radio group that is most likely to follow next.
  • Apple’s plan for CarPlay that makes reassessing viability of AM suddenly more pressing.
  • Where does the concept of offering radio as a paid app leave AM stations?
  • Where does that leave sports betting as the savior of AM?

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Click to read previous stories: Audacy on a Spending SpreeiHeart Suckers 43 Air PersonalitiesSaga’s First Big Bungle Invasion of Foreign Owners to Local RadioThe Pivot Away from PodcastingConsolidators Adopt New Layoff StrategyAudacy’s Sale of Radio.com Exposed2023 PredictionsConsolidator to Cut Sales CommissionsCh-ch-changes Ahead for RadioBongino Exit Only the Beginning

You may also like: Music Tax Compromise May be NearA Threat Even Bigger Than No Car RadioCumulus Scrambles to Sell More AssetsCash Infusion Deals ExposedNot So Fast on No Saga SaleAQH Erodes As Listener Demands are IgnoredTaylor Swift Fans Go After TicketmasterFinancial Troubles at SiriusXM5 Warning Signs at Audacy

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy On a Spending Spree

INSIDE …

  • Pay and benefits that are unlike Audacy’s stingy reputation.
  • Dig deeper into an actual new contract (since the new year).
  • Learn who is fortunate enough to get this type of compensation.
  • First acknowledgement that there could be a change of control ahead.
  • Where this leaves the expected RIFs due first quarter.

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Click to read previous stories: iHeart Suckers 43 Air PersonalitiesSaga’s First Big Bungle Invasion of Foreign Owners to Local RadioThe Pivot Away from PodcastingConsolidators Adopt New Layoff StrategyAudacy’s Sale of Radio.com Exposed2023 PredictionsConsolidator to Cut Sales CommissionsCh-ch-changes Ahead for RadioBongino Exit Only the BeginningMusic Tax Compromise May be Near

You may also like:  A Threat Even Bigger Than No Car RadioCumulus Scrambles to Sell More AssetsCash Infusion Deals ExposedNot So Fast on No Saga SaleAQH Erodes As Listener Demands are IgnoredTaylor Swift Fans Go After TicketmasterFinancial Troubles at SiriusXM5 Warning Signs at AudacyFeds Nail iHeart for Fake Ads

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

iHeart Suckers 43 Air Personalities

INSIDE …

  • A $10 million plus scam of major proportions that has shaken the company.
  • How they put some of their most compelling air personalities in harm’s way without fully disclosing the risk.
  • Even involving their children.
  • The story so embarrassing that their “most trusted name in radio news” publication refused to cover it.
  • How low iHeart went to bolster billing.

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Click to read previous stories: Saga’s First Big Bungle Invasion of Foreign Owners to Local RadioThe Pivot Away from PodcastingConsolidators Adopt New Layoff StrategyAudacy’s Sale of Radio.com Exposed2023 PredictionsConsolidator to Cut Sales CommissionsCh-ch-changes Ahead for RadioBongino Exit Only the BeginningMusic Tax Compromise May be NearA Threat Even Bigger Than No Car Radio

You may also like: Cumulus Scrambles to Sell More AssetsCash Infusion Deals ExposedNot So Fast on No Saga SaleAQH Erodes As Listener Demands are IgnoredTaylor Swift Fans Go After TicketmasterFinancial Troubles at SiriusXM5 Warning Signs at AudacyFeds Nail iHeart for Fake AdsTownsquare’s Next Head Fake 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Saga’s First Big Bungle

INSIDE …

  • Proof that the Ed Christian era is over
  • The one big change that will disrupt the company
  • Why its founder will soon be turning over in his grave
  • The new Saga management model – would you sign off on this?

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Click to read previous stories: Invasion of Foreign Owners to Local RadioThe Pivot Away from Podcasting Consolidators Adopt New Layoff StrategyAudacy’s Sale of Radio.com Exposed2023 PredictionsConsolidator to Cut Sales CommissionsCh-ch-changes Ahead for RadioBongino Exit Only the BeginningMusic Tax Compromise May be NearA Threat Even Bigger Than No Car RadioCumulus Scrambles to Sell More Assets

You may also like:  Cash Infusion Deals ExposedNot So Fast on No Saga SaleAQH Erodes As Listener Demands are IgnoredTaylor Swift Fans Go After TicketmasterFinancial Troubles at SiriusXM5 Warning Signs at AudacyFeds Nail iHeart for Fake AdsTownsquare’s Next Head FakeAmazon’s Commercial Free Podcast Blitz 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

The Pivot Away from Podcasting

  • A “new” replacement for podcasting as a radio revenue source
  • Changes managers are noticing from corporate about selling podcast ads
  • Deadly honest quote:  “Declining attention spans that now average around 5 seconds make a 20-minute, half-hour or full-hour podcast an impossible task for distracted audiences.”

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Previously: Consolidators Adopt New Layoff StrategyAudacy’s Sale of Radio.com Exposed2023 PredictionsConsolidator to Cut Sales CommissionsCh-ch-changes Ahead for RadioBongino Exit Only the BeginningMusic Tax Compromise May be NearA Threat Even Bigger Than No Car RadioCumulus Scrambles to Sell More AssetsCash Infusion Deals ExposedNot So Fast on No Saga Sale

You may also like: AQH Erodes As Listener Demands are IgnoredTaylor Swift Fans Go After TicketmasterFinancial Troubles at SiriusXM5 Warning Signs at AudacyFeds Nail iHeart for Fake AdsTownsquare’s Next Head FakeAmazon’s Commercial Free Podcast BlitzOnly 2 Radio Groups are ProfitableiHeart Deal Buzz

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

2023 Predictions

  • 7 radio predictions, 2 on podcasting, 4 for music industry, 2 for cable news and 3 devoted to streaming video.
  • Predictions about David Field, iHeart, Urban One, Beasley, Cumulus, Townsquare among others.
  • What’s ahead for further consolidation.
  • Area of major concern for the booming music business.
  • Radio’s best company in 2023.

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Previously: Consolidator to Cut Sales CommissionsCh-ch-changes Ahead for RadioBongino Exit Only the BeginningMusic Tax Compromise May be NearA Threat Even Bigger Than No Car RadioCumulus Scrambles to Sell More AssetsCash Infusion Deals ExposedNot So Fast on No Saga SaleAQH Erodes As Listener Demands are IgnoredTaylor Swift Fans Go After Ticketmaster

You may also like: Financial Troubles at SiriusXM5 Warning Signs at AudacyFeds Nail iHeart for Fake AdsTownsquare’s Next Head FakeAmazon’s Commercial Free Podcast BlitzOnly 2 Radio Groups are ProfitableiHeart Deal BuzzCould Audacy’s Board Do a Disney CEO Firing? Audacy & Beasley Destroy their Vegas Station SwapRadio’s Role in Taylor Swift’s Success

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

AQH Erodes as Listener Demands Are Ignored

  • Listening has been eroding for years during consolidation due to content decisions made by lenders and hedge funds more interested in cutting costs than attracting new listeners – turns out listeners want something very different.
  • Here’s what they have to say about firing Scott Shannon.
  • If you have to run commercials, here’s what goes over best.
  • How do you play more variety when Nielsen rewards you for playing the more familiar hits?

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Previously: Taylor Swift Fans Go After TicketmasterFinancial Troubles at SiriusXM5 Warning Signs at AudacyFeds Nail iHeart for Fake AdsTownsquare’s Next Head FakeAmazon’s Commercial Free Podcast BlitzOnly 2 Radio Groups are ProfitableiHeart Deal BuzzCould Audacy’s Board Do a Disney CEO Firing? Audacy & Beasley Destroy their Vegas Station SwapRadio’s Role in Taylor Swift’s Success

You may also like: A Recession Would Trip Radio LayoffsShakeup in Station Management … Townsquare Distances Itself from RadioAudacy Burning Cash and Adding DebtSaga’s Hidden ProblemsWhat Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealRadio Groups Drowning in DebtiHeart Targeting Audacy

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Taylor Swift Fans Go After Ticketmaster

  • Taylor Swift’s fans are going after Ticketmaster for their part in high fees, cancellations and other outrages in the sale of tickets for her upcoming tour Eras.
  • How consumers are joining to fix the inequities caused by lack of government oversight.
  • The Randy Michaels/Lowry Mays prequel to today’s consumer revolt.
  • Why radio may see revolts like this from disgusted audiences.

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Previously: Financial Troubles at SiriusXM5 Warning Signs at AudacyFeds Nail iHeart for Fake AdsTownsquare’s Next Head FakeAmazon’s Commercial Free Podcast BlitzOnly 2 Radio Groups are ProfitableiHeart Deal BuzzCould Audacy’s Board Do a Disney CEO Firing? Audacy & Beasley Destroy their Vegas Station SwapRadio’s Role in Taylor Swift’s SuccessA Recession Would Trip Radio Layoffs

You may also like: Shakeup in Station Management … Townsquare Distances Itself from RadioAudacy Burning Cash and Adding DebtSaga’s Hidden ProblemsWhat Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealRadio Groups Drowning in DebtiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning Shows

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Financial Troubles at SiriusXM

  • Financial troubles based on declining auto sales, a main component of the satellite network’s growth is spurring layoffs that will become evident over the next few weeks.
  • What went wrong with the satellite monopoly that was supposed to be the next great thing in radio – remember? AM, FM and that’s how the name XM was born.
  • But wait: In these ways, satellite is dragging down terrestrial radio, too.
  • And the behind-the-scenes greedy tricks coming from auto manufacturers that threaten satellite and even terrestrial radio.

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Previously: 5 Warning Signs at AudacyFeds Nail iHeart for Fake AdsTownsquare’s Next Head FakeAmazon’s Commercial Free Podcast BlitzOnly 2 Radio Groups are ProfitableiHeart Deal BuzzCould Audacy’s Board Do a Disney CEO Firing? Audacy & Beasley Destroy their Vegas Station SwapRadio’s Role in Taylor Swift’s SuccessA Recession Would Trip Radio LayoffsShakeup in Station Management …

You may also like: Townsquare Distances Itself from RadioAudacy Burning Cash and Adding DebtSaga’s Hidden ProblemsWhat Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealRadio Groups Drowning in DebtiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter Fail

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

5 Warning Signs at Audacy

  • On its way to a likely bankruptcy possibly next year, Audacy is exhibiting 5 dangerous signs that could make the company even more volatile.
  • They’re on the clock toward bankruptcy – what they will do to forestall it.
  • Wait, wait – have you checked their operating cash?
  • Surprise: who owns the most of this declining company’s shares.

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Previously: Feds Nail iHeart for Fake AdsTownsquare’s Next Head FakeAmazon’s Commercial Free Podcast BlitzOnly 2 Radio Groups are ProfitableiHeart Deal BuzzCould Audacy’s Board Do a Disney CEO Firing? Audacy & Beasley Destroy their Vegas Station SwapRadio’s Role in Taylor Swift’s SuccessA Recession Would Trip Radio LayoffsShakeup in Station Management … Townsquare Distances Itself from Radio

You may also like: Audacy Burning Cash and Adding DebtSaga’s Hidden ProblemsWhat Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealRadio Groups Drowning in DebtiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced Retirement

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Feds Nail iHeart for Fake Ads

  • Six states and the Federal Trade Commission announced a settlement with iHeart and Google for their part into a deceptive ad campaign that featured false endorsements of the Google Pixel 4 smartphone.
  • What iHeart did that was so bad that they are on a 10-year FTC probation.
  • iHeart’s efforts to cover up the story and the huge fine.
  • How they put radio personalities in a position to lie or get fired.

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Previously: Townsquare’s Next Head FakeAmazon’s Commercial Free Podcast BlitzOnly 2 Radio Groups are ProfitableiHeart Deal BuzzCould Audacy’s Board Do a Disney CEO Firing? Audacy & Beasley Destroy their Vegas Station SwapRadio’s Role in Taylor Swift’s SuccessA Recession Would Trip Radio LayoffsShakeup in Station Management … Townsquare Distances Itself from RadioAudacy Burning Cash and Adding Debt

You may also like: Saga’s Hidden ProblemsWhat Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealRadio Groups Drowning in DebtiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced RetirementThe Future of Free Radio

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Townsquare’s Next Head Fake

  • Townsquare expects no growth in broadcast -- actually a decline (ex-political) in the out years which is driving their move to consider radio a mature cash cow income source – growth will come from digital.
  • Are you SURE they are not a radio company?
  • A clinic for Audacy and iHeart on managing debt.
  • Next year will be very different.

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Previously: Amazon’s Commercial Free Podcast BlitzOnly 2 Radio Groups are ProfitableiHeart Deal BuzzCould Audacy’s Board Do a Disney CEO Firing? Audacy & Beasley Destroy their Vegas Station SwapRadio’s Role in Taylor Swift’s SuccessA Recession Would Trip Radio LayoffsShakeup in Station Management … Townsquare Distances Itself from RadioAudacy Burning Cash and Adding DebtSaga’s Hidden Problems

You may also like: What Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealRadio Groups Drowning in DebtiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced RetirementThe Future of Free RadioAttitudes About Radio Are Changing

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Amazon’s Commercial Free Podcast Blitz

  • Amazon is quietly getting ready to disrupt the podcasting industry and more specifically blow away radio’s perceived built-in advantage by going commercial-free.
  • A tactic that could further damage iHeart, Audacy and other radio companies.
  • And there’s this: new way to make podcast discovery easier.
  • Radio’s podcast infrastructure may have to be reinvented.

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Previously: Only 2 Radio Groups are ProfitableiHeart Deal BuzzCould Audacy’s Board Do a Disney CEO Firing? Audacy & Beasley Destroy their Vegas Station SwapRadio’s Role in Taylor Swift’s SuccessA Recession Would Trip Radio LayoffsShakeup in Station Management … Townsquare Distances Itself from RadioAudacy Burning Cash and Adding DebtSaga’s Hidden ProblemsWhat Now for Audacy

You may also like: iHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealRadio Groups Drowning in DebtiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced RetirementThe Future of Free RadioAttitudes About Radio Are ChangingRadio Pressured to Sell Podcasting Ads

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Only 2 Radio Groups Are Profitable

  • These are the shocking metrics they dare not utter publicly but analysts are whispering privately.
  • The thing the two most profitable radio groups in Q3 have in common.
  • One group is off a whopping -63% -- here’s what they did wrong.
  • A group by group ranking of radio groups that say they make money but don’t.

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Previously: iHeart Deal BuzzCould Audacy’s Board Do a Disney CEO Firing? Audacy & Beasley Destroy their Vegas Station SwapRadio’s Role in Taylor Swift’s SuccessA Recession Would Trip Radio LayoffsShakeup in Station Management … Townsquare Distances Itself from RadioAudacy Burning Cash and Adding DebtSaga’s Hidden ProblemsWhat Now for AudacyiHeart Stalling Another Bankruptcy

You may also like: Preview of Tomorrow’s Audacy Revenue RevealRadio Groups Drowning in DebtiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced RetirementThe Future of Free RadioAttitudes About Radio Are ChangingRadio Pressured to Sell Podcasting AdsAudacy Ignoring Their Debt Problem  

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Could Audacy’s Board Do a Disney CEO Firing?

  • The boards of Audacy and Cumulus would be wise to note the recent proactive move of the Disney Board firing CEO Bob Chapek and rehiring retired icon Bob Iger.
  • How this could affect their likely bankruptcy.
  • Audacy’s version of a ‘Bob Iger replacement’ for David Field.
  • But wait, the issue of Audacy’s board of directors.

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Previously: A Beasley Bankruptcy to WatchAudacy & Beasley Destroy their Vegas Station SwapRadio’s Role in Taylor Swift’s SuccessA Recession Would Trip Radio LayoffsShakeup in Station Management …Townsquare Distances Itself from RadioAudacy Burning Cash and Adding DebtSaga’s Hidden ProblemsWhat Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue Reveal

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

A Beasley Bankruptcy to Watch

  • The Beasley shortcoming that Wall Street worries about most.
  • Drastic cutbacks of high performing talent.
  • Concerns about burning through cash.
  • A far flung but possible solution with another company.

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Previously: Audacy & Beasley Destroy their Vegas Station SwapRadio’s Role in Taylor Swift’s SuccessA Recession Would Trip Radio LayoffsShakeup in Station Management … Townsquare Distances Itself from RadioAudacy Burning Cash and Adding DebtSaga’s Hidden ProblemsWhat Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealiHeart Targeting Audacy

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy & Beasley Destroy Their Vegas Station Swap

  • Their “shotgun marriage” just got worse.
  • Details on advertisers getting screwed before the transfer.
  • What’s the big rush?
  • iHeart’s role in all of this, yes iHeart!

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Previously: Radio’s Role in Taylor Swift’s SuccessA Recession Would Trip Radio LayoffsShakeup in Station Management … Townsquare Distances Itself from RadioAudacy Burning Cash and Adding DebtSaga’s Hidden ProblemsWhat Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning Shows 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Radio’s Role in Taylor Swift’s Success

  • She crashed streaming service Spotify when her latest album Midnights was released, she’s social media royalty and she sells millions of albums when most other artists can barely sell a fraction – and her career was enabled by radio.
  • How Taylor Swift sells albums.
  • The new role for radio’s third golden age in a streaming world.

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Previously: A Recession Would Trip Radio LayoffsShakeup in Station Management … Townsquare Distances Itself from RadioAudacy Burning Cash and Adding DebtSaga’s Hidden ProblemsWhat Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter Fail 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

A Recession Would Trip Radio Layoffs

  • Look only to the pandemic which was used as an excuse by radio consolidators to reduce their work forces for guidance on what will happen if a recession actually occurs.
  • The reason the big 3 consolidators would actually welcome a recession.
  • Revised bankruptcy dates for struggling consolidators (and why).
  • The type of radio station that will breeze through any economic downturn.

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Previously: Shakeup in Station Management … Townsquare Distances Itself from RadioAudacy Burning Cash and Adding DebtSaga’s Hidden ProblemsWhat Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced Retirement

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Shakeup in Station Management

  • Over indebtedness and failure to monetize scaled down on-air content are responsible for a virtual collapse of radio monopolies as growth businesses.
  • The on-air content they are moving toward.
  • A new twist on out of market management.
  • And yes, they’re going there – sales shakeup in advance of the recession.

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Previously: Townsquare Distances Itself from RadioAudacy Burning Cash and Adding DebtSaga’s Hidden ProblemsWhat Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced RetirementThe Future of Free Radio

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Townsquare Distances Itself from Radio

  • What happens to digital-first Townsquare if big tech implodes.
  • The future of their “mature cash cow” radio operation.
  • What we’re hearing about another Townsquare acquisition.
  • Beasley and Audacy are ferociously cutting jobs, what about Townsquare?

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Previously: Audacy Burning Cash and Adding DebtSaga’s Hidden ProblemsWhat Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced RetirementThe Future of Free RadioAttitudes About Radio Are Changing

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy Burning Cash and Adding Debt

  • The Third Quarter stats Audacy is hiding
  • Their current liquidity situation
  • The messy, painful months ahead
  • Can this company be saved?

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Previously: Saga’s Hidden ProblemsWhat Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced RetirementThe Future of Free RadioAttitudes About Radio Are ChangingRadio Pressured to Sell Podcasting Ads

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Saga’s Hidden Problems

  • Ed Christian’s succession plan
  • Is a management shakeup imminent?
  • The prospects for selling the company
  • Saga warning: What happened to the Maytag repairman

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Previously: What Now for AudacyiHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced RetirementThe Future of Free RadioAttitudes About Radio Are ChangingRadio Pressured to Sell Podcasting AdsAudacy Ignoring Their Debt Problem

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

What Now for Audacy

  • Station sales, delisting, refinancing and bankruptcy
  • Straight talk about RIFs
  • Major assets that will likely have to be sold
  • Maybe another name change?

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Previously: iHeart Stalling Another BankruptcyPreview of Tomorrow’s Audacy Revenue RevealiHeart targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced RetirementThe Future of Free RadioAttitudes About Radio Are ChangingRadio Pressured to Sell Podcasting AdsAudacy Ignoring Their Debt ProblemBeasley Botches Their Own Layoffs

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

iHeart Stalling Another Bankruptcy

  • The best bet on when the next restructuring will come.
  • Which competitors iHeart is hurting most just to break even.
  • Their way of raising executive compensation while eliminating other jobs --- confirmed.
  • 3 questionable trouble areas to watch.

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Previously: Preview of Tomorrow’s Audacy Revenue RevealiHeart targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced RetirementThe Future of Free RadioAttitudes About Radio Are ChangingRadio Pressured to Sell Podcasting AdsAudacy Ignoring Their Debt ProblemBeasley Botches Their Own LayoffsRadio’s Attention Span Problem

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Preview of Tomorrow’s Audacy Revenue Reveal

  • By the end of the day tomorrow, the country may not know who won the mid-term elections, but they will know Audacy is out of options to survive as a going concern.
  • What’s going on the block to pay debt.
  • An expected signal for lenders from their CFO Richard Schmaeling – decoded.
  • On the DEFCON scale, Audacy’s condition for readiness to survive.

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Previously: Radio Groups Drowning in DebtiHeart Targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced RetirementThe Future of Free RadioAttitudes About Radio Are ChangingRadio Pressured to Sell Podcasting AdsAudacy Ignoring Their Debt ProblemBeasley Botches Their Own LayoffsRadio’s Attention Span Problem

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Radio Groups Drowning in Debt

  • It’s been just a week since the first of the 3rd quarter radio financial results have been released and early indications are that the major consolidators are so losing the debt battle that their operations promise to change as soon as next year.
  • The real debt numbers, not sugar-coated
  • What to keep an eye on
  • Pencil these desperation moves in for early 2023

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Previously: iHeart targeting Audacy“Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced RetirementThe Future of Free RadioAttitudes About Radio Are ChangingRadio Pressured to Sell Podcasting AdsAudacy Ignoring Their Debt ProblemBeasley Botches Their Own LayoffsRadio’s Attention Span ProblemDigital Dimes Killing Terrestrial Revenue 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

iHeart Targeting Audacy

  • iHeart is now moving to weaken its largest competitor Audacy by going after the sports rights franchises they now dominate, continuing to pressure ad prices where they compete and possibly steal their talent. 
  • Their predatory tactics to take down Audacy 
  • How their main growth is now coming from hurting competitors 
  • The dirtiest trick of all that could humiliate Audacy

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Previously: “Commercial-Free” Hours Killing Morning ShowsCumulus Masquerading 3rd Quarter FailScott Shannon’s Forced RetirementThe Future of Free RadioAttitudes About Radio Are ChangingRadio Pressured to Sell Podcasting AdsAudacy Ignoring Their Debt ProblemBeasley Botches Their Own LayoffsRadio’s Attention Span ProblemDigital Dimes Killing Terrestrial RevenueBeasley Headed Towards Bankruptcy

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

“Commercial-Free” Hours Killing Morning Shows

  • After workarounds designed to bury huge commercial loads, stations are finding that sacrificing some of the morning show for a commercial blitz to make other hours commercial free is provoking some unintended consequences.
  • Audacy got themselves into trouble with this – here’s the research.
  • iHeart’s even more radical approach.
  • But here’s what the audience wants. 

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Previously: Cumulus Masquerading 3rd Quarter FailScott Shannon’s Forced RetirementThe Future of Free RadioAttitudes About Radio Are ChangingRadio Pressured to Sell Podcasting AdsAudacy Ignoring Their Debt ProblemBeasley Botches Their Own LayoffsRadio’s Attention Span ProblemDigital Dimes Killing Terrestrial RevenueBeasley Headed Towards BankruptcyThe Other Audacy/Beasley Deal

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Cumulus Masquerading 3rd Quarter Fail

  • Cumulus reported third quarter revenue down 2% - that’s the good news
  • You won’t believe their fastest growing revenue stream
  • And how they are hiding debt in broad daylight
  • The net effect of staff reductions on actual financials
  • Net leverage of other groups is averaging 5.5x – here’s Cumulus’

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Previously: Scott Shannon’s Forced RetirementThe Future of Free RadioAttitudes About Radio Are ChangingRadio Pressured to Sell Podcasting AdsAudacy Ignoring Their Debt ProblemBeasley Botches Their Own LayoffsRadio’s Attention Span ProblemDigital Dimes Killing Terrestrial RevenueBeasley Headed Towards BankruptcyThe Other Audacy/Beasley DealOlivier Rising at Audacy

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Scott Shannon’s Forced Retirement

  • Audacy walked away from WCBS-FM, New York morning personality 8½ years after CBS Radio President Dan Mason hired him but the real story is not what Audacy is publicly saying.
  • The surprise executioner.
  • A likely replacement who will work for a lot less.
  • Is David Field the next retiree?

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Previously: The Future of Free RadioAttitudes About Radio Are ChangingRadio Pressured to Sell Podcasting AdsAudacy Ignoring Their Debt ProblemBeasley Botches Their Own LayoffsRadio’s Attention Span ProblemDigital Dimes Killing Terrestrial RevenueBeasley Headed Towards BankruptcyThe Other Audacy/Beasley DealOlivier Rising at Audacy 

You may also like: Audacy Fire Sale Begins Fears Mediabase Merger Will Hurt Indie Artists Beasley Could Be an Audacy Merger PartnerThe Coming Audacy New York Fire SaleSports Betting as the Death of AM Talkradio ... iHeart Accused of Buying Podcast AudiencesWarshaw’s Double Acquisition RollupFirst Look at 3rd Quarter Revenue ProjectionsThe Street Expects Audacy to Sell “Prized” Stations 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

The Future of Free Radio

  • A way for free, commercial radio to charge for subscriptions
  • Why free radio is getting creamed by paid streaming
  • The proponent for making social media “paid” as an idea for free radio
  • The “you only pay for what you need” concept
  • Here’s what audiences will pay for on free radio 

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Previously: Attitudes About Radio Are ChangingRadio Pressured to Sell Podcasting AdsAudacy Ignoring Their Debt ProblemBeasley Botches Their Own LayoffsRadio’s Attention Span ProblemDigital Dimes Killing Terrestrial RevenueBeasley Headed Towards BankruptcyThe Other Audacy/Beasley DealOlivier Rising at AudacyAudacy Fire Sale Begins 

You may also like: Fears Mediabase Merger Will Hurt Indie Artists Beasley Could Be an Audacy Merger PartnerThe Coming Audacy New York Fire SaleSports Betting as the Death of AM Talkradio ... iHeart Accused of Buying Podcast AudiencesWarshaw’s Double Acquisition RollupFirst Look at 3rd Quarter Revenue ProjectionsThe Street Expects Audacy to Sell “Prized” StationsSurprise: Young People Prefer Talk Radio

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Attitudes About Radio Are Changing

  • A new time for the morning show
  • The desire for more than just music but still including music
  • What streamers are sensing audiences want next
  • How they’re already adapting content to their shorter attention spans
  • Young demo wish list for radio 

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Previously: Radio Pressured to Sell Podcasting AdsAudacy Ignoring Their Debt ProblemBeasley Botches Their Own LayoffsRadio’s Attention Span ProblemDigital Dimes Killing Terrestrial RevenueBeasley Headed Towards BankruptcyThe Other Audacy/Beasley DealOlivier Rising at AudacyAudacy Fire Sale BeginsFears Mediabase Merger Will Hurt Indie Artists

You may also like: Beasley Could Be an Audacy Merger PartnerThe Coming Audacy New York Fire SaleSports Betting as the Death of AM Talkradio ... iHeart Accused of Buying Podcast AudiencesWarshaw’s Double Acquisition RollupFirst Look at 3rd Quarter Revenue ProjectionsThe Street Expects Audacy to Sell “Prized” StationsSurprise: Young People Prefer Talk RadioSpotify’s Pivot to Audio Books 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy Ignoring Their Debt Problem

  • The sensible way back to health that Audacy refuses to take
  • Proof the current fiscal crisis was avoidable
  • How spending $25 million could have saved $6 million plus a year in lower interest costs
  • The downside of the reverse stock split to avoid NYSE delisting

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Previously: Beasley Botches Their Own LayoffsRadio’s Attention Span ProblemDigital Dimes Killing Terrestrial RevenueBeasley Headed Towards BankruptcyThe Other Audacy/Beasley DealOlivier Rising at AudacyAudacy Fire Sale BeginsFears Mediabase Merger Will Hurt Indie ArtistsBeasley Could Be an Audacy Merger PartnerThe Coming Audacy New York Fire Sale

You may also like: Sports Betting as the Death of AM Talkradio ... iHeart Accused of Buying Podcast AudiencesWarshaw’s Double Acquisition RollupFirst Look at 3rd Quarter Revenue ProjectionsThe Street Expects Audacy to Sell “Prized” StationsSurprise: Young People Prefer Talk RadioSpotify’s Pivot to Audio BooksAudacy Hiring Cheaper While Laying OffHeadwinds in Cox Radio Selloff

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Radio’s Attention Span Problem

  • When attention span starts to drift for radio (and podcasts)
  • How radio stations are losing listeners by making it worse
  • Tactics that work against listener attention erosion
  • A simple fix for lost listening for commercial overload and music

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Previously: Digital Dimes Killing Terrestrial RevenueBeasley Headed Towards BankruptcyThe Other Audacy/Beasley DealOlivier Rising at AudacyAudacy Fire Sale BeginsFears Mediabase Merger Will Hurt Indie ArtistsBeasley Could Be an Audacy Merger PartnerThe Coming Audacy New York Fire SaleSports Betting as the Death of AM Talkradio ... iHeart Accused of Buying Podcast Audiences

You may also like: Warshaw’s Double Acquisition RollupFirst Look at 3rd Quarter Revenue ProjectionsThe Street Expects Audacy to Sell “Prized” StationsSurprise: Young People Prefer Talk RadioSpotify’s Pivot to Audio BooksAudacy Hiring Cheaper While Laying OffHeadwinds in Cox Radio SelloffWhy Audacy Continues to Deny BankruptcyLate-Stage Consolidation 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

The Other Audacy/Beasley Deal

  • A reported factor that preceded the Las Vegas station swap
  • Why Audacy took an AM stiff and swapped a better FM
  • A premonition of things to come between Audacy and Beasley
  • The current Beasley layoffs as a bellwether of the next few weeks

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Previously: Olivier Rising at AudacyAudacy Fire Sale BeginsFears Mediabase Merger Will Hurt Indie ArtistsBeasley Could Be an Audacy Merger PartnerThe Coming Audacy New York Fire SaleSports Betting as the Death of AM Talkradio ... iHeart Accused of Buying Podcast AudiencesWarshaw’s Double Acquisition RollupFirst Look at 3rd Quarter Revenue ProjectionsThe Street Expects Audacy to Sell “Prized” Stations

You may also like: Surprise: Young People Prefer Talk RadioSpotify’s Pivot to Audio BooksAudacy Hiring Cheaper While Laying OffHeadwinds in Cox Radio SelloffWhy Audacy Continues to Deny BankruptcyLate-Stage Consolidation Expanded Firings on the Table at AudacySaga Off the Sales BlockNow It Can Be Told About Lowry Mays

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

The Coming Audacy New York Fire Sale

  • Cash the minute you want it – how the long-delayed all-news move for AM to FM went down.
  • The disrupted future of all-news in New York City.
  • The immediate advantage to David Field.
  • Station sale options.
  • The missing piece of the puzzle – suddenly found.

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Previously: Sports Betting as the Death of AM Talkradio ... iHeart Accused of Buying Podcast AudiencesWarshaw’s Double Acquisition RollupFirst Look at 3rd Quarter Revenue ProjectionsThe Street Expects Audacy to Sell “Prized” StationsSurprise: Young People Prefer Talk RadioSpotify’s Pivot to Audio BooksAudacy Hiring Cheaper While Laying OffHeadwinds in Cox Radio SelloffWhy Audacy Continues to Deny BankruptcyLate-Stage Consolidation

You may also like: Expanded Firings on the Table at AudacySaga Off the Sales BlockNow It Can Be Told About Lowry MaysAudacy & Lenders Reportedly Lawyering UpiHeart’s Newest Way to Fire Without FalloutHow Audacy Lost $1 Billion in 3 YearsAn Unexpected Development at SagaWhat Would Make Young Demos Put Up with Commercials 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Remembering Todd Wallace

Late Friday caller ID flashed my longtime friend Todd Wallace was on the phone.

I answered with “hey, how ya doin’” in my best Phillyese.

The voice on the other end was Todd’s son-in-law who said “I don’t think this call is going to go the way you thought it would” and informed me of Todd’s passing.

His credentials were rich:  Big 8 Drake jock, program director, consultant here and in Australia and New Zealand, the “father of call out passive music research” and on and on.

I know him from our long relationship and mutual love of radio.  When I founded Inside Radio, Todd supplied his audience ratings even before the publication made it big.

When I moved to Phoenix, Todd along with fellow buddy Bill Gardner founded the “Scottsdale Study Group” to study the lunch menu at local restaurants and pursue non-stop two-way conversation about all things radio.

Bill and I once stayed on after one of our lunches to talk right up until dinner – non-stop talk with no commercials in a way.

We had regulars like Bruce St. James and John Sebastian and a host of friends like Gary Edens, the late Jim Taszarek and many others.

We’d have guests passing through join us like Scotty Brink – sometimes in ways a bunch of program directors could appreciate like the time I invited a radio acquaintance who said he was on his way to check into hospice where he expected to die.

Lowry Mays picked up the tab because every time I got my Amex out I told them that the hardnosed founder of Clear Channel who tried to sue me for $100 million wound up settling for millions to get me to drop my countersuit so before wallets came out, the question would be posed, is Lowry paying?

Back to the programmer on his way to hospice -- he died and I covered it in Inside Music Media but a few years later he returned from the dead – that’s right, he never died – to stage a bank holdup.  You can’t make this stuff up.

Bank bandit or not, how could we know – he was a programmer who loved radio, that was the ticket to admission. 

Todd often encouraged me to give voice to the radio industry and its people we love who know how to do the best local radio and expose the evil ways of hedge funds and their CEO puppets – like I needed encouragement.  Still, I appreciated that my friend appreciated what I was doing.

I don’t have to tell you that every loss is a tough one and particularly so when it is a radio friend.

Radio is like ice hockey – we compete ferociously but always shake hands in the end to show respect.

I’m glad I never had to go up against “One-book Wallace” as he was called for his ability to fix stations quickly and make them bulletproof.

And now that I’ve had a few days to let it sink in Todd’s passing reminds me of how fortunate we are to be in an industry where we care about the audience, probably make less money than we could doing something else and forge wonderful lasting relationships with everyone -- even competitors.

Todd was an outstanding radio guy and devoted friend, I celebrate his life today by reminding myself and all who will listen that like radio, even friendship is local.

Previously: Surprise: Young People Prefer Talk RadioSpotify’s Pivot to Audio BooksAudacy Hiring Cheaper While Laying OffHeadwinds in Cox Radio SelloffWhy Audacy Continues to Deny BankruptcyLate-Stage ConsolidationExpanded Firings on the Table at AudacySaga Off the Sales BlockNow It Can Be Told About Lowry MaysAudacy & Lenders Reportedly Lawyering Up 

You may also like: Uncertainty at SiriusXMiHeart’s Newest Way to Fire Without FalloutHow Audacy Lost $1 Billion in 3 YearsAn Unexpected Development at SagaWhat Would Make Young Demos Put Up with CommercialsA Hail Mary for AudacyThe Truth About Radio Performance RoyaltiesA Warning About All Those Audacy Bankruptcy DenialsSaga Wants to AcquireAudacy Weighs More Layoffs

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Why Audacy Continues to Deny Bankruptcy

  • What Audacy fears even after iHeart and Cumulus succeeded in bankruptcy
  • How employees are being played for fools
  • Proven employee advantages of bankruptcy
  • “Thoughts from CEO David Field on the iHeart Bankruptcy Filing” that checks off all the boxes for an Audacy bankruptcy

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Previously: Late-Stage ConsolidationExpanded Firings on the Table at AudacySaga Off the Sales BlockNow It Can Be Told About Lowry MaysAudacy & Lenders Reportedly Lawyering UpUncertainty at SiriusXMiHeart’s Newest Way to Fire Without FalloutHow Audacy Lost $1 Billion in 3 YearsAn Unexpected Development at SagaWhat Would Make Young Demos Put Up with Commercials

You may also like: A Hail Mary for AudacyThe Truth About Radio Performance RoyaltiesA Warning About All Those Audacy Bankruptcy DenialsSaga Wants to AcquireAudacy Weighs More LayoffsSaga Cashing Out Why Millennials Reject RadioAudacy’s Lenders to Become the New OwnersUnexpected Drama at Saga Audacy’s Pre-Layoff Raises Revealed

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Expanded Firings on the Table at Audacy

  • Their cost-reduction pledge to lenders 
  • Why new debt reduction measures are coming
  • The stalling tactics up next 
  • Evidence that firing is backfiring on David Field

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Previously: Saga Off the Sales BlockNow It Can Be Told About Lowry MaysAudacy & Lenders Reportedly Lawyering UpUncertainty at SiriusXMiHeart’s Newest Way to Fire Without FalloutHow Audacy Lost $1 Billion in 3 YearsAn Unexpected Development at SagaWhat Would Make Young Demos Put Up with CommercialsA Hail Mary for AudacyThe Truth About Radio Performance Royalties 

You may also like: A Warning About All Those Audacy Bankruptcy DenialsSaga Wants to AcquireAudacy Weighs More LayoffsSaga Cashing Out Why Millennials Reject RadioAudacy’s Lenders to Become the New OwnersUnexpected Drama at Saga Audacy’s Pre-Layoff Raises RevealedSaga After Ed ChristianAudacy Rethinks its 5% Layoff Promise 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy & Lenders Reportedly Lawyering Up

  • Legal chatter heard on the street
  • What debtors and creditors fear will happen
  • A concern about what wounded management could do next
  • The fate of the Fields and current management

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Previously: Uncertainty at SiriusXMiHeart’s Newest Way to Fire Without FalloutHow Audacy Lost $1 Billion in 3 YearsAn Unexpected Development at SagaWhat Would Make Young Demos Put Up with CommercialsA Hail Mary for AudacyThe Truth About Radio Performance RoyaltiesA Warning About All Those Audacy Bankruptcy DenialsSaga Wants to Acquire …  Audacy Weighs More Layoffs …   

You may also like: Saga Cashing Out Why Millennials Reject RadioAudacy’s Lenders to Become the New OwnersUnexpected Drama at Saga Audacy’s Pre-Layoff Raises RevealedSaga After Ed ChristianAudacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local BuysLarkin’s Audacy CutsThe Cox Radio Sales Finalists

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Uncertainty at SiriusXM

  • Can they maintain a good cash flow business 
  • Changing listener attitudes becoming evident
  • SiriusXM danger signals
  • A bright spot and headwinds ahead 
  • The solution to SiriusXM’s biggest problem

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Previously: iHeart’s Newest Way to Fire Without FalloutHow Audacy Lost $1 Billion in 3 YearsAn Unexpected Development at SagaWhat Would Make Young Demos Put Up with CommercialsA Hail Mary for AudacyThe Truth About Radio Performance RoyaltiesA Warning About All Those Audacy Bankruptcy DenialsSaga Wants to Acquire …  Audacy Weighs More Layoffs …  Saga Cashing Out

You may also like: Why Millennials Reject RadioAudacy’s Lenders to Become the New OwnersUnexpected Drama at Saga Audacy’s Pre-Layoff Raises RevealedSaga After Ed ChristianAudacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local BuysLarkin’s Audacy CutsThe Cox Radio Sales Finalists…  The Big Revenue Source Cumulus is Hiding 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

How Audacy Lost $1 Billion in 3 Years

  • The mistakes killing Audacy’s chances of survival 
  • 3,500 employees are left – what’s the new number
  • The expected but painful remedies
  • A heads up for over 1,000 part-time employees

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Previously: An Unexpected Development at SagaWhat Would Make Young Demos Put Up with CommercialsA Hail Mary for AudacyThe Truth About Radio Performance RoyaltiesA Warning About All Those Audacy Bankruptcy DenialsSaga Wants to Acquire …  Audacy Weighs More Layoffs …  Saga Cashing OutWhy Millennials Reject RadioAudacy’s Lenders to Become the New Owners

You may also like: Unexpected Drama at Saga Audacy’s Pre-Layoff Raises RevealedSaga After Ed ChristianAudacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local BuysLarkin’s Audacy CutsThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff Revealed

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

What Would Make Young Demos Put Up with Commercials

  • The thing young demos want most 
  • The tradeoff – these 2 things for more commercials 
  • Radio “sampling” by the young has increased, but … 
  • Positive signs that youth is open to radio reinvented

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Previously: A Hail Mary for AudacyThe Truth About Radio Performance RoyaltiesA Warning About All Those Audacy Bankruptcy DenialsSaga Wants to Acquire …  Audacy Weighs More Layoffs …  Saga Cashing OutWhy Millennials Reject RadioAudacy’s Lenders to Become the New OwnersUnexpected Drama at Saga Audacy’s Pre-Layoff Raises Revealed

You may also like: Saga After Ed ChristianAudacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local BuysLarkin’s Audacy CutsThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff RevealedApollo Explores Selling Cox Radio How Employees Would Fix Audacy

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

A Hail Mary from Audacy

  • A desperate move to save the company from bankruptcy
  • What happens to David Field
  • Coming changes in programming and operations
  • The best-and-worst case outcomes

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Previously: The Truth About Radio Performance RoyaltiesA Warning About All Those Audacy Bankruptcy DenialsSaga Wants to Acquire …  Audacy Weighs More Layoffs …  Saga Cashing OutWhy Millennials Reject RadioAudacy’s Lenders to Become the New OwnersUnexpected Drama at Saga Audacy’s Pre-Layoff Raises RevealedSaga After Ed Christian … 

You may also like: … Audacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local BuysLarkin’s Audacy CutsThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff RevealedApollo Explores Selling Cox Radio How Employees Would Fix Audacy …  $5,000 Springsteen Tickets

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

The Truth About Radio Performance Royalties

  • Is the radio industry safe from rights fees for another year (or not)?
  • The deal that the NAB walked away from 
  • Why the music industry must have a deal with radio now
  • Why $100 million is the key

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Previously: A Warning About All Those Audacy Bankruptcy DenialsSaga Wants to Acquire …  Audacy Weighs More Layoffs …  Saga Cashing OutWhy Millennials Reject RadioAudacy’s Lenders to Become the New OwnersUnexpected Drama at Saga Audacy’s Pre-Layoff Raises RevealedSaga After Ed Christian …  Audacy Rethinks its 5% Layoff Promise

You may also like: … iHeart’s Plan to Take 100% Local BuysLarkin’s Audacy CutsThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff RevealedApollo Explores Selling Cox Radio How Employees Would Fix Audacy …  $5,000 Springsteen TicketsPlunging Morale is Costing Audacy

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

A Warning About All Those Audacy Bankruptcy Denials

  • What to expect when Audacy is expecting bankruptcy
  • Fears that the Field’s have “lost the room”
  • The staff memo that blames others for Audacy’s financial troubles
  • How much time do they have left?

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Previously: Saga Wants to Acquire …  Audacy Weighs More Layoffs …  Saga Cashing OutWhy Millennials Reject RadioAudacy’s Lenders to Become the New OwnersUnexpected Drama at Saga Audacy’s Pre-Layoff Raises RevealedSaga After Ed Christian …  Audacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local Buys …  

You may also like: Larkin’s Audacy CutsThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff RevealedApollo Explores Selling Cox Radio How Employees Would Fix Audacy …  $5,000 Springsteen TicketsPlunging Morale is Costing AudacyWhat iHeart Will Do

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Saga Wants to Acquire

  • Here’s the radio group Saga wants to buy 
  • Just how much cash does Saga have to spend on acquisitions
  • Saga secrets that change everyday operations 
  • Who owns the most Saga stock now – are THEY buyers?

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Previously:  Audacy Weighs More Layoffs …  Saga Cashing OutWhy Millennials Reject RadioAudacy’s Lenders to Become the New OwnersUnexpected Drama at Saga Audacy’s Pre-Layoff Raises RevealedSaga After Ed Christian …  Audacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local Buys … Larkin’s Audacy Cuts 

You may also like: The Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff RevealedApollo Explores Selling Cox Radio How Employees Would Fix Audacy …  $5,000 Springsteen TicketsPlunging Morale is Costing AudacyWhat iHeart Will DoAudacy & iHeart Undercutting Ad rates by 75% 

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Field’s Ironic Words on iHeart’s 2018 Bankruptcy

EDITOR’S NOTE:  Audacy took exception to my recent article that emphasized the irony of David Field’s own words that were critical of iHeart and Cumulus when they filed for bankruptcy.

I also pointed out how Audacy, and then Entercom, were better for not making the same mistakes as their two biggest competitors. Audacy further took exception with my bankruptcy prediction, which I continue to stand by.

Audacy also complained that the article was behind the paywall. I have therefore decided to make the entire article available for everyone to see — his words, the claims, the context, the irony and a link to Field’s entire memo to staff that he asked them to circulate in 2018 so today everyone can decide for themselves:

In David Field's Own Words

On March 19, 2018, Audacy CEO David Field wrote a commentary for his employees on the iHeart bankruptcy – it included references to the Cumulus bankruptcy and what got his two biggest competitors into trouble but by his standard he has also confirmed Audacy’s bankruptcy.

The facts:  Field thought he was setting the record straight (“Since there seems to be a considerable amount of misinformation and inaccurate speculation floating around, I thought it would be constructive to share some facts and thoughts to help clarify the situation.” and invited everyone to share his reporting with “friends, colleagues, partners, and customers”.)

  • The memo which you can read here, is a premonition of things to come as Audacy heads into bankruptcy next year.
  • Several years ago, using his two competitors as examples of mismanagement, Field has now checked off all the same boxes that apply to his company now.

Why iHeart & Cumulus went bankrupt

  • Field: “First, iHeart and Cumulus went bankrupt because years ago prior management teams made ill-advised decisions to place too much debt on their companies.  Period, full stop”.
  • “We did not make the mistake of overleveraging ourselves and yet we still emerged as one of Radio’s two largest companies with the scale, brands and capabilities to compete to win”.
  • Audacy is overleveraged with almost $1.8 billion in debt that can barely be covered by quarterly earnings making it what Wall Street calls a “zombie company” existing to pay debt and not grow which explains their 54 cent stock price, delisting threat and baked in expectation of bankruptcy next year.

Famous last words:  Audacy will have the strongest balance sheet

  • Field: “And even after our competitors come out of bankruptcy, we will still have the industry’s strongest balance sheet, providing us with the financial strength to build and grow and invest and play offense for the years ahead.”
  • The truth: The value destruction he’s overseen has already dwarfed Cumulus CEO Berner’s disaster.
  • Approximately $2.5 billion of equity value destroyed since the CBS merger.
  • The debt value destruction is well over $500 million putting the total over $3 billion. 

Tell advertisers about iHeart’s problems  

  • “Let’s make sure we get the word out so that our advertisers, partners, and other key influencers understand the facts and don’t come away with any false perceptions.”
  • Advertisers and others are already getting the message that Audacy was no different from other radio groups that got in trouble and filed for bankruptcy making his words appear like arrogance when reflected on.

My deadly honest POV

  • I get the feeling that Field doesn’t play well with others – Audacy is his company and every decision has been his which means the low stock price, botched CBS Radio merger, out of control debt and the need to file bankruptcy is all on him.
  • A responsible board of directors would have replaced management - now they’re going to ride it over the cliff to Chapter 11. 

Email Jerry here

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The Musonomics podcast on Neighboring Music Rights that are similar to performance rights but paid to record labels and performing artists rather than to songwriters and publishers – and, there is a radio station component in this.  Hosted by NYU Professor & Music Business Program Director Larry Miller.  Listen here.

Upgrade to an annual subscription and save $19 here.

My thought-for-the-day here.

Jerry Del Colliano is a professor at NYU Steinhardt Department of Music and Performing Arts Professions Music Business Program.  His background includes Clinical Professor of Music Industry at the University of Southern California, TV, radio, program management, publishing and digital media.


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Previously: Audacy Weighs More LayoffsSaga Cashing Out Field’s Ironic Words on iHeart’s 2018 BankruptcyAudacy’s Lenders to Become the New OwnersUnexpected Drama at Saga Audacy’s Pre-Layoff Raises RevealedSaga After Ed Christian …  Audacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local Buys …  Larkin’s Audacy Cuts …   

You may also like: Details of Apollo Cox Selloff RevealedApollo Explores Selling Cox Radio How Employees Would Fix Audacy …  $5,000 Springsteen TicketsPlunging Morale is Costing AudacyWhat iHeart Will DoAudacy & iHeart Undercutting Ad rates by 75%  … The Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy Weighs More Layoffs

  • The reason Audacy isn’t firing greater numbers between now and December 
  • One position that will actually increase in number 
  • Why Audacy is dragging out the firings 
  • The revised estimated target for total layoffs

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Previously: Saga Cashing OutAudacy’s Lenders to Become the New OwnersUnexpected Drama at SagaAudacy’s Pre-Layoff Raises RevealedSaga After Ed Christian …  Audacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local Buys …  Larkin’s Audacy CutsThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year … 

You may also like: Details of Apollo Cox Selloff RevealedApollo Explores Selling Cox Radio How Employees Would Fix Audacy …  $5,000 Springsteen TicketsPlunging Morale is Costing AudacyWhat iHeart Will DoAudacy & iHeart Undercutting Ad rates by 75%  … Audacy’s Big RevealWarshaw Walks Away from Cumulus Audacy’s Long Goodbye

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

David Field Confirms Audacy’s Bankruptcy

  • Field on the danger of overleveraging
  • The startling amount of Audacy equity destroyed since the CBS merger
  • The missed opportunity of having the industry’s strongest balance sheet
  • A premonition of bad things to come in his own words using iHeart & Cumulus as negative examples.

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Previously: Why Millennials Reject RadioAudacy’s Lenders to Become the New OwnersUnexpected Drama at Saga Audacy’s Pre-Layoff Raises RevealedSaga After Ed Christian …  Audacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local Buys …  Larkin’s Audacy CutsThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …   

You may also like: Details of Apollo Cox Selloff RevealedApollo Explores Selling Cox Radio How Employees Would Fix Audacy …  $5,000 Springsteen TicketsPlunging Morale is Costing AudacyWhat iHeart Will DoAudacy & iHeart Undercutting Ad rates by 75%  … Audacy’s Big RevealWarshaw Walks Away from Cumulus Audacy’s Long Goodbye

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Why Millennials Reject Radio

  • Results of a real time perceptual research study reacting to a Z100 stop set
  • The unedited 14-minute video with comments (excruciating)
  • How many commercials you can get away with without mass tune-outs
  • All you need to know in their words to win them back

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Previously: Audacy’s Lenders to Become the New OwnersUnexpected Drama at Saga Audacy’s Pre-Layoff Raises RevealedSaga After Ed Christian …  Audacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local Buys …  Larkin’s Audacy CutsThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff Revealed … 

You may also like: Apollo Explores Selling Cox Radio How Employees Would Fix Audacy …  $5,000 Springsteen TicketsPlunging Morale is Costing AudacyWhat iHeart Will DoAudacy & iHeart Undercutting Ad rates by 75%  … Audacy’s Big RevealWarshaw Walks Away from Cumulus Audacy’s Long Goodbye Why Audacy Stock is Now Worth 77 Cents  

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy’s Lenders to Become the New Owners

  • A timetable is beginning to unfold
  • New owners’ effect on everyday operations
  • How their all-time low stock price triggers bankruptcy
  • David Field’s 4 fatal mistakes
  • Will new owners turn around Audacy?

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Previously: Unexpected Drama at Saga Audacy’s Pre-Layoff Raises RevealedSaga After Ed Christian …  Audacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local Buys …  Larkin’s Audacy CutsThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year…  Details of Apollo Cox Selloff Revealed …  Apollo Explores Selling Cox Radio …   

You may also like: How Employees Would Fix Audacy …  $5,000 Springsteen TicketsPlunging Morale is Costing AudacyWhat iHeart Will DoAudacy & iHeart Undercutting Ad rates by 75%  … Audacy’s Big RevealWarshaw Walks Away from Cumulus Audacy’s Long Goodbye Why Audacy Stock is Now Worth 77 CentsiHeart Crashing

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Unexpected Drama at Saga

  • The emerging problems causing all the uncertainty 
  • The warning about insane trading of Saga stock
  • Serious options that will be on the table
  • The life raft Ed Christian threw to his successors

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Previously: Audacy’s Pre-Layoff Raises RevealedSaga After Ed Christian …  Audacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local Buys …  Larkin’s Audacy CutsThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff Revealed …  Apollo Explores Selling Cox Radio … 

You may also like: How Employees Would Fix Audacy$5,000 Springsteen TicketsPlunging Morale is Costing AudacyWhat iHeart Will DoAudacy & iHeart Undercutting Ad rates by 75%  … Audacy’s Big RevealWarshaw Walks Away from Cumulus Audacy’s Long Goodbye Why Audacy Stock is Now Worth 77 CentsiHeart Crashing

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy’s Pre-Layoff Raises Revealed

  • The fortunate who got raises instead of getting fired
  • The way Audacy could have easily avoided laying off 5%
  • A $22.5 million rescue fund squandered 
  • A plan where they could have saved 50 mission critical employees – still can, but won’t

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Previously: Saga After Ed Christian …  Audacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local Buys …  Larkin’s Audacy CutsThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff Revealed …  Apollo Explores Selling Cox Radio …  How Employees Would Fix Audacy … 

You may also like: $5,000 Springsteen TicketsPlunging Morale is Costing AudacyWhat iHeart Will DoAudacy & iHeart Undercutting Ad rates by 75%  … Audacy’s Big RevealWarshaw Walks Away from Cumulus Audacy’s Long Goodbye Why Audacy Stock is Now Worth 77 CentsiHeart Crashing …  A Change in Radio Rates and Contract Length

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Saga After Ed Christian

  • Why Saga stock was up 15% upon the death of its CEO 
  • You can expect these changes over the next few months 
  • The major protection that Saga loses upon the death of Ed Christian

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Previously:  Audacy Rethinks its 5% Layoff PromiseiHeart’s Plan to Take 100% Local Buys …  Larkin’s Audacy CutsThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff Revealed …  Apollo Explores Selling Cox Radio …  How Employees Would Fix Audacy …  $5,000 Springsteen Tickets … 

You may also like: Plunging Morale is Costing AudacyWhat iHeart Will DoAudacy & iHeart Undercutting Ad rates by 75%  … Audacy’s Big RevealWarshaw Walks Away from Cumulus Audacy’s Long GoodbyeWhy Audacy Stock is Now Worth 77 CentsiHeart Crashing …  A Change in Radio Rates and Contract Length…  Warshaw Inciting Cumulus Shareholder Revolt

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Ed Christian – An Appreciation

I’ve written a lot of things about the fools who have ruined the radio industry by losing their local focus, firing staff, plugging in cost-cutting measures and devolving to selling ads at whatever they had to do to screw their competitor out of the buy.

This was not Ed Christian.

Ed was a radio junkie – listening to all his stations, regularly chatting with his market managers, insisting on rate integrity, local content and old school ideas.

My friend Tom Taylor, the fine journalist who covered the radio industry for decades remembered the person who lived the local radio life:

  • “Ed Christian was all about being (and appearing to be) local. The Norfolk stations aren't marketed as owned by Saga, but by "Tidewater Communications." The stations in Coastal Maine are "Portland Radio Group," etc.
  • “And when Ed came to town for a visit and there happened to be a client party, he didn't want the focus to be on him - but on the local market manager. Because that person was the one the business community was interacting with, and not The Big Out-of-Town Boss. 
  • “Also - Ed was insistent on the local facility looking business-like, and ready for a client visit, at any time. None of this stuck-away-in-the-back-of-the-strip mall stuff. (Jerry Lee was the same way - B101 had a prominent room up front for client/ad agency visits, and it was impressive as hell. It was like Mad Men, updated. I don't know about the liquor cabinet).”

Different in every way

  • Saga actually owned the buildings (with few exceptions) from which their stations operated – this in a world where larger group owners were rushing to get out of town.
  • A few weeks ago, he told me that he bought iHeart’s building in Norfolk for a little over $1 million – iHeart happy to get out, Eddie thrilled to get in saying within a few years the move would save them on rent.
  • He was kind in very private ways – I know of circumstances where he helped employees through health issues by opening up his wallet and being supportive and never looked to publicize or take credit for it.
  • He was right about Nielsen and when they sued him for what I believe was a trumped-up charge of stealing ratings, his ‘punishment’ was to become a Nielsen subscriber but when the mandated ‘punishment’ was over, he cancelled that day – years later he subscribed in a few larger markets at his price and terms.
  • Ed was a pioneer in the use of translators to cover a market and also reluctant to spend on streaming where he didn’t think it contributed to the bottom line – different, unheard of but apparently it worked for Saga.
  • He used to tell me some of the old school promotions that his local clients were eating up that helped Saga return profits for their shareholders and marketing help to retailers.
  • We talked about teaching – he shared his experience as a visiting professor.

Eddie loved reading me unless I got out of line and then in the earlier days we would have at it but as the years went on we agreed on the sorry state of radio and the importance of local radio in reality not just name.

And when he got mad at me, he let me have it.  But I always loved him – we didn’t have to agree to be friends.

His death caught me by surprise – as I’ve said, he seemed to be doing fine – but I have this empty feeling for the loss of a friend who had a great sense of humor, who kind of admired what I did and how in the end, he turned out to be the only beacon focused on authentic local radio.

A saga is a long story of heroic achievement.

To those of us who are proponents of local radio instead of hedge fund shortcuts, Ed Christian’s Saga and (small ‘s’) saga was completed with consistency, dignity and sense of purpose and profitability.

As Tom Taylor says “They don't make 'em like Ed Christian any more” and therein lies the reason for the mess radio is in today.

Saga After Ed Christian

Audacy Rethinks Its 5% Layoff Promise

  • What they’re not revealing about their one and done layoff promise
  • The real number of layoffs for the next four months
  • A surprise area Audacy will target next for mass firings
  • A formerly untouchable cutback is suddenly on the table

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Previously:  iHeart’s Plan to Take 100% Local Buys …  Larkin’s Audacy CutsThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff Revealed …  Apollo Explores Selling Cox Radio …  How Employees Would Fix Audacy …  $5,000 Springsteen Tickets …  Plunging Morale is Costing Audacy …   

You may also like: What iHeart Will DoAudacy & iHeart Undercutting Ad rates by 75%  … Audacy’s Big RevealWarshaw Walks Away from Cumulus Audacy’s Long Goodbye Why Audacy Stock is Now Worth 77 CentsiHeart Crashing …  A Change in Radio Rates and Contract Length …  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

iHeart’s Plan to Take 100% of Local Buys

  • iHeart rate hardball just got worse 
  • The surprises iHeart is readying next
  • You may have to defend against the practice of “limbo” selling 
  • A heads up for iHeart competitors fighting over the same ad buys

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Report Newstips here (even the KGB doesn’t know where we get our tips).

Previously:  Larkin’s Audacy CutsThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding…  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff Revealed …  Apollo Explores Selling Cox Radio …  How Employees Would Fix Audacy …  $5,000 Springsteen Tickets …  Plunging Morale is Costing Audacy …  What iHeart Will Do

You may also like:  Audacy & iHeart Undercutting Ad rates by 75%  … Audacy’s Big RevealWarshaw Walks Away from Cumulus Audacy’s Long Goodbye Why Audacy Stock is Now Worth 77 CentsiHeart Crashing…  A Change in Radio Rates and Contract Length …  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel …  Westwood One to Shutter Another Division

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Larkin’s Audacy Cuts

  • A first indication of size and locations
  • Larkin’s whereabouts next week
  • What David Field is reportedly telling employees privately 
  • A warning about sales changes and a revised compensation plan 

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Previously:  Audacy’s Unspoken Plan to Avoid BankruptcyThe Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff Revealed … Apollo Explores Selling Cox Radio …  How Employees Would Fix Audacy …  $5,000 Springsteen Tickets …  Plunging Morale is Costing Audacy …  What iHeart Will Do

You may also like: Audacy & iHeart Undercutting Ad rates by 75%Audacy’s Big RevealWarshaw Walks Away from Cumulus Audacy’s Long Goodbye Why Audacy Stock is Now Worth 77 CentsiHeart Crashing…  A Change in Radio Rates and Contract Length …  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel …  Westwood One to Shutter Another Division The Danger of Electric Cars to Radio

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy’s Unspoken Plan to Avoid Bankruptcy

  • Options to stave off losing control of the company 
  • There’s a problem with a plan to get their stock up over $1 
  • Stuff you should know about Audacy’s podcasting businesses 
  • What to expect when you’re expecting massive layoffs – there is a safe time

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Previously: The Cox Radio Sales Finalists …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff Revealed …  Apollo Explores Selling Cox Radio …  How Employees Would Fix Audacy …  $5,000 Springsteen Tickets …  Plunging Morale is Costing Audacy …  What iHeart Will Do …  Audacy & iHeart Undercutting Ad rates by 75% … 

You may also like: Audacy’s Big RevealWarshaw Walks Away from Cumulus Audacy’s Long GoodbyeWhy Audacy Stock is Now Worth 77 CentsiHeart Crashing …  A Change in Radio Rates and Contract Length…  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel …  Westwood One to Shutter Another Division The Danger of Electric Cars to Radio

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

The Cox Radio Sale Finalists

  • The most serious bidder 
  • Who else is likely kicking tires
  • What Apollo/Cox is doing ahead of any potential sale
  • How the Apollo/Cox selloff will end 

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Previously:  The Mother of All Audacy Expense Cuts …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff Revealed …  Apollo Explores Selling Cox Radio …  How Employees Would Fix Audacy …  $5,000 Springsteen Tickets …  Plunging Morale is Costing Audacy …  What iHeart Will Do …  Audacy & iHeart Undercutting Ad rates by 75% … 

You may also like: Audacy’s Big RevealWarshaw Walks Away from Cumulus Audacy’s Long GoodbyeWhy Audacy Stock is Now Worth 77 CentsiHeart Crashing …  A Change in Radio Rates and Contract Length…  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel …  Westwood One to Shutter Another Division The Danger of Electric Cars to Radio

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

The Mother of All Audacy Expense Cuts

  • Admissions about belt-tightening
  • The plan they’ve been working on behind the scenes
  • The way they plan to handle stock delisting
  • Unspoken trouble ahead that could disrupt everything

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Previously: iHeart Revenue Wins at Audacy’s Expense …  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff Revealed …  Apollo Explores Selling Cox Radio …  How Employees Would Fix Audacy …  $5,000 Springsteen Tickets …  Plunging Morale is Costing Audacy …  What iHeart Will Do …  Audacy & iHeart Undercutting Ad rates by 75%

You may also like: …  Audacy’s Big Reveal  Warshaw Walks Away from Cumulus Audacy’s Long GoodbyeWhy Audacy Stock is Now Worth 77 CentsiHeart Crashing …  A Change in Radio Rates and Contract Length…  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel …  Westwood One to Shutter Another Division The Danger of Electric Cars to Radio

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

iHeart Revenue Wins at Audacy’s Expense

  • Tactics iHeart is using to squeeze their 2 competitors out of business
  • How monopoly has turned against Audacy and Cumulus 
  • How this affects iHeart’s debt problem 
  • What a whiz bang quarter means for layoffs
  • And my deadly honest POV 

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Previously:  The Big Revenue Source Cumulus is Hiding …  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff Revealed …  Apollo Explores Selling Cox Radio …  How Employees Would Fix Audacy …  $5,000 Springsteen Tickets …  Plunging Morale is Costing Audacy …  What iHeart Will Do …  Audacy & iHeart Undercutting Ad rates by 75% …  Audacy’s Big Reveal

You may also like:  Warshaw Walks Away from Cumulus Audacy’s Long Goodbye Why Audacy Stock is Now Worth 77 CentsiHeart Crashing …  A Change in Radio Rates and Contract Length …  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel …  Westwood One to Shutter Another Division The Danger of Electric Cars to Radio …  A Paid FM App Replacing Car Radio

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

The Big New Revenue Source Cumulus is Hiding

  • Their dumbest move of the year – almost everybody agrees
  • Repercussions from the dismantling of Westwood One
  • The real story on Cumulus digital
  • Their mysterious new business revealed yesterday only as “Other” but is suddenly 10% of their total revenue

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Previously:  Audacy Faces Bankruptcy Next Year …  Details of Apollo Cox Selloff Revealed …  Apollo Explores Selling Cox Radio …  How Employees Would Fix Audacy …  $5,000 Springsteen Tickets …  Plunging Morale is Costing Audacy …  What iHeart Will Do …  Audacy & iHeart Undercutting Ad rates by 75% …  Audacy’s Big Reveal …  A Paid FM App Replacing Car Radio

You may also like:  Warshaw Walks Away from Cumulus Audacy’s Long Goodbye Why Audacy Stock is Now Worth 77 CentsiHeart Crashing …  A Change in Radio Rates and Contract Length …  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel …  Westwood One to Shutter Another Division The Danger of Electric Cars to Radio …  Audacy & iHeart Playing Dirty with Ad Rates

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

Audacy Faces Bankruptcy Next Year

  • What this means for Audacy stations and personnel
  • Can David Field remain in power as Berner and Pittman did? 
  • Why Audacy market managers are in ill-humor 
  • The 10-to-1 reverse stock split as a Hail Mary

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Report Newstips here (even the KGB doesn’t know where we get our tips). 

Previously:  Details of Apollo Cox Selloff Revealed …  Apollo Explores Selling Cox Radio …  How Employees Would Fix Audacy …  $5,000 Springsteen Tickets …  Plunging Morale is Costing Audacy …  What iHeart Will Do…  Audacy & iHeart Undercutting Ad rates by 75% …  Audacy’s Big Reveal …  A Paid FM App Replacing Car Radio …  Radio Ad Revenue to Drop 10%Next Year … 

You may also like:  Warshaw Walks Away from Cumulus Audacy’s Long Goodbye Why Audacy Stock is Now Worth 77 CentsiHeart Crashing …  A Change in Radio Rates and Contract Length …  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel …  Westwood One to Shutter Another Division The Danger of Electric Cars to Radio …  Audacy & iHeart Playing Dirty with Ad Rates

Journalism is printing what someone else does not want printed.  Everything else is just public relations --  George Orwell

$5,000 Springsteen Tickets

  • It’s dynamic pricing – and oh, by the way, radio sellers should learn about it.
  • What former American Airlines CEO Bob Crandall told my radio workshop about “continuous pricing”.
  • The threat bigger than $5,000 tickets that could impact the future of live events. 
  • Taylor Swift’s answer to ticket scalpers that made her $50 million more on tour.

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Previously:  Plunging Morale is Costing Audacy …  What iHeart Will Do …  Audacy & iHeart Undercutting Ad rates by 75% …  Audacy’s Big Reveal …  A Paid FM App Replacing Car Radio …  Radio Ad Revenue to Drop 10%Next Year …  Warshaw Walks Away from Cumulus …  Audacy’s Long Goodbye …  iHeart & Audacy Driving Down Ad Rates …  Why Audacy Stock is Now Worth 77 Cents 

You may also like:  iHeart Crashing …  A Change in Radio Rates and Contract Length  …  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel …  Westwood One to Shutter Another Division The Danger of Electric Cars to Radio …  Audacy & iHeart Playing Dirty with Ad RatesTownsquare’s Major ExpansionCumulus Just Screwed ItselfAverage Song Length Nose Dives

What iHeart Will Do

  • A warning about how they will operate after missing revenue goals
  • Starting to change the way they handle local sales
  • How they will make up the decline in local and national revenue 
  • Their new podcasting narrative 
  • How their bankruptcy may have to be re-engineered

Read the full article now   

Forward to a friend

Newstips here

Email me privately here

 

Previously:  Audacy & iHeart Undercutting Ad rates by 75% …  Audacy’s Big Reveal …  A Paid FM App Replacing Car Radio …  Radio Ad Revenue to Drop 10%Next Year …  Warshaw Walks Away from Cumulus …  Audacy’s Long Goodbye …  iHeart & Audacy Driving Down Ad Rates …  Why Audacy Stock is Now Worth 77 CentsiHeart Crashing …  A Change in Radio Rates and Contract Length 

You may also like:  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel … Westwood One to Shutter Another Division The Danger of Electric Cars to Radio …  Audacy & iHeart Playing Dirty with Ad RatesTownsquare’s Major ExpansionCumulus Just Screwed ItselfAverage Song Length Nose Dives

Audacy & iHeart Undercutting Ad Rates by 75%

  • The dire warning from Katz rep firm about Audacy’s predatory tactics (read it)
  • How NASCAR got duped into out of target stations due to aggressive Audacy rate cutting 
  • The way Audacy beats the asking price even before competitors get to bid
  • Two big advertisers who are spending 25% of their previous budget to get the same number of ads -- or more. 
  • What happened when Saga deliberately undercut Audacy to see how low they would go.

Read the full article now   

Forward to a friend

Newstips here

Email me privately here

Previously:  Audacy’s Big Reveal …  A Paid FM App Replacing Car Radio …  Radio Ad Revenue to Drop 10%Next Year …  Warshaw Walks Away from Cumulus …  Audacy’s Long Goodbye …  iHeart & Audacy Driving Down Ad Rates …  Why Audacy Stock is Now Worth 77 CentsiHeart Crashing …  A Change in Radio Rates and Contract Length   

You may also like:  Warshaw Inciting Cumulus Shareholder RevoltCumulus to Layoff Station Personnel … Westwood One to Shutter Another Division The Danger of Electric Cars to Radio …  Audacy & iHeart Playing Dirty with Ad RatesTownsquare’s Major ExpansionCumulus Just Screwed ItselfAverage Song Length Nose Dives