The Cumulus Ratings Collapse

  • Mary Berner says Cumulus is turning around.
  • She’s on a victory lap based on financials and ratings.
  • Investors are now questioning their ratings performance.
  • Leaked documents about their top ten markets.
  • Blunders, missed opportunities, flat out incompetence documented.
  • And in the one market where Cumulus hit it out of the park, they did the unthinkable to ruin it all making investors nervous.
  • Is it finally Mike McVay’s fault?
  • What’s the plan -- investors are now “woke” for answers.

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Why So Many Bidders Want Universal Music

  • A handful of new, powerful buyers have emerged in addition to Liberty Media – the rundown.
  • Why so much interest in owning one of the big 3 record labels.
  • How radio could be disrupted and upended if some buyers on the list above control some or all of Universal.
  • What happens to the media business if a cellular carrier buys Universal.

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The Glut of Radio Stations for Sale

Among brokers, the word is that almost every radio station is for sale.

That’s an over exaggeration, but it points to the desperate situation facing owners of radio stations.

The question is:  with few buyers and an industry that has been trending downward in revenue, what happens if owners who have to sell can’t find a buyer?

  • Panicked sellers can’t find buyers – here’s their 3 other options.
  • Why so many station owners want out so badly.
  • Prices are going down and still no buyers – what’s up with that?
  • No sale, no problem – look at the radio station of the future if owners have to keep them.
  • The one way sellers can find a buyer this minute – today – without lowering their prices – so why are they refusing.

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Radio’s Hip-Hop Problem

  • Radio is losing young audiences at a record pace because of music playlist mistakes – here’s a station that figured out and huge ratings followed.
  • Spotify and Apple Music are today’s radio to younger audiences – the secret sauce to their music playlists.
  • 22 million people subscribe to a Spotify playlist that features today’s hit music – here’s how many subscribe to the most popular hip-hop playlist.
  • Examples of how to play more hip-hop to attract more 18-34’s – and what to avoid.
  • Can pop coexist with hip-hop on a station that intends to be number one 18-34.

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Entercom’s Stock Apocalypse

Analysts may be starting to see things my way as it relates to Entercom.

Their stock price has been sinking from a $16 high before the CBS Radio acquisition to within a quarter from being a $4 stock as of close yesterday.

And that means institutional buyers may either be forbidden from investing in “ETM” by their own rules or because they have increasing concern.

Either way the CBS merger is appearing to be the bust we called it from outset and evidence of incompetence are everywhere around the company’s attempt to clean up their mess.

  • Even Wall Street is starting to turn on Entercom – their reasons, concerns, eye-popping quotes.
  • What one thing that almost nobody in radio can name is worrying the financial community the most about Entercom.
  • Previously untold details of how Entercom staves off the dumping of their stock – and it’s all legal if not deceiving.
  • Surprising doubts percolating from fans of David Field concerning Entercom’s growth plan.
  • Real concerns about the all-news stations Entercom bought from CBS Radio – identified and analyzed.

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Jerry will appear with Lew & John Dickey together on stage at the 2019 Conclave in Minneapolis June 20thin a deadly honest conversation about Cumulus and the future of the radio focusing on growth opportunities for radio people in the new modern media.  Details here.