Radio Getting Left Behind in Media Spending

INSIDE …

  • Radio has some really good news and yet the industry is getting screwed by advertisers – look here, every other medium you can name is getting a better break. Time spent listening vs. ad spend. 
  • Even print gets a better break than radio – how radio is getting left behind in media spending.
  • A startling new finding about ecommerce and retail sales.
  • Why there are problems ahead for targeted advertising, the category that has been siphoning off radio ad dollars.
  • Should radio be worried about time spent with digital media?

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iHeart Entertaining Offers

INSIDE … 

  • Keep an eye on Bob Pittman – in running all of his previous companies Pittman knew the exact time to depart – how that applies to iHeart now.
  • Why iHeart can’t continue the way it is for very much longer – how much longer?
  • What’s on the table in dealing iHeart – the entire company or this handful of attractive assets.
  • As I have said previously, Liberty Media wants iHeart and now we know how far they are willing to go to put themselves in the best position to steal it.
  • What their market managers know about the sale of iHeart.

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Major Cumulus Asset Sale Coming Soon

INSIDE …

  • The next shoe is ready to drop – here’s where.
  • I’ve been tickled by how Cumulus is taking what little they get for WPLJ and other major market stations saying the proceeds are being used to pay down debt – but here’s the truth about who is really getting the proceeds.
  • When will Cumulus finally acquire a station instead of just sell them as they’ve been promising -- the board is under pressure to reshape Cumulus – here’s how.
  • How Cumulus is looking like Reader’s Digest, Mary Berner’s first bankruptcy.
  • Lew Dickey, Townsquare and the new Cumulus – what they all have in common now.

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EMF’s Mastery of Radio

INSIDE … 

  • I know few hardcore radio people who like what EMF is doing buying up stations cheaply, but they may have stumbled over the future of commercial radio as well – here’s a page out of their playbook.
  • How EMF is prepared to deal with local markets in which they operate but have no presence.
  • The way EMF is handling one-to-many broadcasting in an era of on-demand content.
  • Non-profit EMF refuses to price acquisitions based on revenue multiples suggesting new options for commercial broadcasters looking to expand.
  • What does EMF know about radio that makes them an aggressive buyer in the digital era.

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Emmis Reinvented

INSIDE …

  • Jeff Smulyan is sitting on $100 million from the 76% sale of Hot 97 and WBLS in New York.  Here’s what he’s aiming to do with it.
  • Smulyan is a radio guy so is he shopping for station sales that are steals?
  • Why split the radio company from whatever comes next – here’s the reason.
  • And what’s up with this guy Soo Kim of Standard General – I am hearing that he likes radio at fire sale prices and he’s got a lot of money. Is he a buyer of more distressed properties?
  • To be painfully honest, is all this the end of Emmis or the beginning?

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Entercom Revenue Decline Revealed

INSIDE …

  • I’ve got the revenue info for you for 2ndquarter 2019 compared to 2018 – important because this is the “pig” Entercom will be putting the “lipstick” on soon for analysts.
  • Best and worst markets, flat ones, troubling trends – not touched up by spin.
  • How Entercom will hide the major market revenue losses.
  • Now you see what investors are worried about – where revenue fails, why Entercom quarterly comparisons can’t be believed and the latest on their debt problems.
  • City by city revenue trends – the real trends – and why they are up or down.

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The Next Radio Boom

The present slump can’t last forever.

Radio station valuations are at an all-time low.

But some interesting things are beginning to happen.

Emmis and Cox have found ways to hand their debt to investors while they retain a minority interest and still get to manage their former companies.  Is that a sustainable model for others?

Apple Music and Spotify are cleaning up with audiences under 40 and yet a path forward is becoming evident for radio stations without having to have their own streaming music service.

What is projected to be the right time to start buying radio stations again and what will the next radio boom look like?

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Entercom’s Forced Errors

Yesterday Entercom stock (ETM) lost yet another 20 cents driving it to within 50 cents of being a $4 stock.

I have said many times over that the market knows a bad deal when they see it and from virtually the moment the CBS merger was announced Entercom stock crashed from the $16 range to $5.53 where it closed yesterday.

I’d like to have a dollar for every CBS survivor or victim purged by David Field who warned that Field was screwing up a merger so good all he had to do was essentially stay out of the way.

That didn’t happen and now even more information is coming forward to confirm that many if not most of what’s wrong with Entercom comes from forced errors that did not have to happen.

What’s worse, there are more huge mistakes that even investors don’t know about until this morning.

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Public Market Prepping for Entercom’s Fall

INSIDE …

  • Entercom stock is less than a dollar away from being worth only $4 – what is the public market fearing about Entercom.
  • Think the CBS firings have stopped – think again.  An update.
  • Why a CBS exec thinks CEO David Field is “guilty of malpractice”.
  • Sports was to be a big part of Entercom’s revenue, now this revelation.
  • And the one thing that absolutely cannot happen without Entercom’s revenue taking a huge hit is if 1010 WINS and/or other all-news money machines slip. Well, are they?

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iHeart In Worse Shape After Bankruptcy

INSIDE … 

  • Alright, Pittman and Bressler got most of what they wanted in bankruptcy, now almost 3 months later the 3 things that threaten to drive iHeart into ANOTHER bankruptcy.
  • What happens to the company now?
  • All radio companies are experiencing hard times right now, so what happens next if iHeart can’t service their new, reduced debt load (from $16 billion to $5.75b).
  • How long before Bob Pittman’s $100 million bet on podcasting pays off?
  • What are the new iHeart revenue initiatives in the pipeline?

Read the full article now.

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Visit our website for more – InsideMusicMedia.com