The FCC is once again a Federal agency with four Commissioners and its Chairman. While Jessica Rosenworcel was effectively reappointed, bringing the Democrat back to the Commission after a seven-month absence, today marked the start of what will be a lengthy tenure as a Commissioner for Republican Brendan Carr.
Pivotal Research Group Senior Research Analyst for Advertising Brian Wieser kept the midnight oil burning late Wednesday, as he reviewed the "weak advertising revenue trends for national TV" seen in Q2. He thinks they're down by about 1%. Get used to it, Wieser advises: He says growth for the traditional medium is unlikely to return any time soon. But, there are opportunities for growth, he adds.
From job growth picking up and income lagging behind to weak housing investments and the current political climate, consumers are being bombarded with a slew of mixed indicators that are making them less willing to open their wallets and spend. That's the important takeaway for broadcast media sales executives and the C-Suite from a newly released study from IRI.
Did Sinclair Broadcast Group go to Chicago Canine Rescue and adopt a dog? That's what some investors might start to ask, given the Q2 results Tribune Media just posted. Yes, the company's net loss was narrower. Yes, Tribune’s Diluted EPS failed to meet analysts' estimates.
The NextRadio app as originally conceived effectively unlocks the FM tuner that's hidden in an Android-powered device, including most — if not all — Samsung models presently on the market. According to the latest smartphone OS data from Kantar Worldpanel ComTech, Samsung regained the top sales spot in the U.S. for the three-month period ending May 30. However, its share is down.
"We are pleased to report another solid quarter that was in line with our expectations.” That's how Townsquare Media Chairman/CEO Steven Price opened his discussion this morning on the event marketing and small-market radio broadcasting company's Q2 results. While net revenue was up 2.6%, consistent with the company's guidance, net income and Adjusted EBITDA were pretty much a pancake — flat, but tasty enough to satisfactorily accept.
The addition of the Media General TV stations to Nexstar Media Group significantly impacted its bottom line in Q2: Nexstar enjoyed a 139% net revenue rise to a record $626.1 million.
Poor comps? Not here. Gray Television enjoyed a Q2 2017 that was nothing short of spectacular, as revenue surged to $226.7 million from $196.6 million, and net income catapulted to $70.6 million (97 cents per diluted share) from $17.7 million (24 cents). Thank the Spectrum Auction for the strong quarter, and buckle up for a bumpy Q3.
Following Monday's Closing Bell on Wall Street, CBS Corporation reported Q2 2017 results that surpassed expectations, coupled with profits that met the Street. Brian Wieser, a senior analyst at Pivotal Research Group who has emerged in recent months as a prolific pulse-taker of broadcast media's publicly traded companies, likes what he sees: CBS execs hint that the company is shifting its revenue mix away from advertising and toward other activities, and those moves are "particularly positive."
Holy Moly: Upon first glance of Salem Media Group's second quarter earnings release, distributed just past 1pm Pacific by the Southern California-based faith-focused and conservative talk broadcast company, one word glaringly sticks out among all others: Decreased. It set the tone for a quarter in which net income plummeted on slightly less revenue.
With all of the excitement over radio's renewed place in the home thanks to Smart Speaker devices such as the Amazon Echo and Google Home, it still loses — badly — in the one place you're most likely going to sleep and shower that you don't live in: The hotel. Here's what RBR+TVBR's Editor-in-Chief has to say on the subject, and why you should rally around him now.
The Multicultural Media, Telecom and Internet Council (MMTC) this week filed reply comments with the FCC to its "modernization of media regulation initiative." Co-authored by President/CEO Kim Keenan and President Emeritus and Senior Advisor David Honig, MMTC outlines seven priorities the Commission should take when proceeding with its plans.
The FCC is sticking with its timetable for public comments, reply comments, and responses to reply comments regarding the blockbuster Sinclair-Tribune Media merger. More time was requested by DISH Network, the American Cable Association (ACA), and Public Knowledge, who are waging a collective fight to stop the merger. A Monday press call will formally announce their FCC filings in opposition to the proposed deal, and local news is a big reason fueling their battle.
Legislation introduced March 30 by Rep. Jerrold Nadler (D-N.Y.) that would require AM and FM radio stations that play copyrighted sound recordings to pay royalties for the non-digital audio transmissions of the recordings has picked up another supporter in Congress. But, is the bill inching toward the ether? Is bipartisan opposition on both sides of Capitol Hill — backed by the NAB — too great to overcome? That's what it looks like.
The U.S. Senate on Thursday officially brought the FCC back to four Commissioners while ensuring Ajit Pai remains Chairman. Pai congratulated Rosenworcel on her reappointment as a Democratic Commissioner, and applauded Carr's arrival at the FCC.