Disney Earnings Please Wall Street. But, OTA TV Growth Lags
The fiscal third quarter 2022 financial results for The Walt Disney Co. were released late Wednesday, and for the period ending July 2, 2022, the performance was everything magical for investors in the owner of ESPN, ABC and fast-growing OTT platform Disney+. Revenue grew at both Disney's Cable and Broadcasting units. What fueled the improvements?
Radio Revenue Weakness Overcome For Urban One In Q2
There is some particular shakiness for the company's heritage radio stations, as net income shrunk in the three-month period ending June 30. No matter. The company led by Alfred Liggins III expressed pleasure with its Q2 '22 results even with the slowdown in the radio business. Investors were happy, sending UONE up sharply in trading on Wednesday.
Nielsen Postpones Two Important Steps Toward Elliott Privatization
A “Court Meeting” and a “Special Meeting” were scheduled for Tuesday to vote on proposals for Nielsen to be acquired for $28 per share in cash by a consortium led by an affiliate of Elliott Investment Management. Less than two hours before the day's events were to commence, they were postponed. Why?
Political, Subscription Growth Power TEGNA In Q2
Despite what the Tysons Corner, Va.-headquartered company calls "a volatile macroeconomic environment," broadcast television station owner TEGNA enjoyed a 7% year-over-year revenue gain in the second quarter. It will likely be the final Q2 report for TEGNA as a publicly traded company, as a privatization plan has received shareholder approval and awaits regulatory approval.
‘Deteriorating Macroeconomic Conditions’: Audacy’s Q2 Woe
Upbeat second quarter earnings reports from a variety of publicly traded broadcast media companies are in sharp contrast to the Q2 2022 earnings report delivered Friday by Audacy Corp. The company formerly known as Entercom and led by President/CEO David Field cited "increasing uncertainty" as one reason for the disappointing earnings. The comments came as the U.S. gained 528,000 jobs in July.
Final Results of Emmis Tender Offer Arrive
The final results of a cash tender offer to purchase up to 1 million shares of its Class A common stock have been released by Emmis Corporation, the Indianapolis-based operation founded by Jeff Smulyan that is exiting radio station ownership to focus on other technology-driven endeavours.
Goldman Sachs Trims Long-Term Outlook for iHeartMedia
The nation's No. 1 creator and distributor of audio content has joined Audacy Corp. in being bestowed with a noteworthy downgrade of its stock, as Goldman Sachs has just lowered its rating on IHRT.
NABOB Expresses ‘Broad and Deep’ ZoneCasting Support to Rosenworcel
The lobbying efforts to get the FCC to say yes to a proposed rule that would permit program origination on FM boosters — the lynchpin to GeoBroadcast Solutions' "ZoneCasting" technology — have reached new heights, as the National Association of Black-Owned Broadcasters (NABOB) offered its "broad and deep support" of the proposal directly to the Commission's Chairwoman.
Progress, As HD Radio Parent Tops Earnings Estimates
“We are excited with the progress we made against our strategic initiatives across the business.” Those are the words of Xperi CEO Jon Kirchner, commenting on the second quarter results for the parent company of such brands as HD Radio. How did Xperi perform, fiscally speaking, in the three-month period ending June 30?
An Inspired AM Twin Spin For Salem in Seattle
He's the EVP and Secretary for Salem Media Group family member Inspiration Media. This explains why Salem legal head Christopher J. Henderson (pictured) on June 23 signed off on the sale of two Inspiration stations, both AM facilities. The properties are heading to two different owners, each seeking to gain audience in the Pacific Northwest's biggest market.
A Progressive Push to the Top At Spot Radio
Across multiple Q2 2022 earnings calls, broadcast media executives noted that there's an auto insurance specialist ad-sales slump taking hold. The category, more competitive than ever, has seen Liberty Mutual Insurance aggressively go after State Farm, Allstate and GEICO, as well as the top spot holder in the latest Media Monitors Spot Ten Radio report.
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‘Big WECK’ Owner Adds Some ‘NRG’ To His Holdings
He's known for his success owning and operating WECK, the nation's No. 1-ranked Oldies station based in Buffalo. Now, Buddy Shula is acquiring an FM radio station in his second home — the heart of the Conch Republic.
A Key Wall Street Analyst’s Lone ‘Outperform’ Goes to FOX
It is the only company with an "Outperform" rating on its publicly traded stock among the companies included in the Media coverage provided by MoffettNathanson. Why is that the case? Senior Analyst Robert Fishman offers a simple explanation: "[B]ecause we know exactly what the company is and maybe more importantly, what it isn’t."
Disney+ Gets An Ad-Supported Tier
On December 8, Disney+ will introduce its much-anticipated ad-supported subscription offering in the U.S., a move that all but erases the subscription-as-a-revenue driver philosophy that built "over the top" (OTT) offerings and made them desirable in the first place.
Samba TV Enters Spanish Market
Here's a deal that will make some say, "¡Olé!" and saudade. TV industry and "omniscreen" advertising and analytics firm Samba TV has signed a new strategic partnership with an adtech platform that enables it to enter España for the first time.
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NABOB Fall Conference Is On. It’s Opposite NAB Show NY
The National Association of Black Owned Broadcasters (NABOB) will host its 46th annual Fall Broadcast Conference and 22nd Power of Urban Radio Forum as a live in-person event in mid-October. Attendees may want to plan their trip carefully. Dates highly conflict with NAB Show New York radio industry events.
Global Smart TV Sales Growth Returns
The global TV market is forecast to show signs of recovery in 2022 and beyond, thanks largely to improvements in the supply of large LCD panels — the primary obstacle manufacturers struggled with in 2021.
SMI: Linear Ad Spend Continues to Recede
National TV (Linear) ad spend receded for the second month in a row, falling 1% in June 2022 vs. June 2021. This is according to Standard Media Index, which captures actual invoicing data from all major holding companies and most major independents, representing 95% of national brand ad spend.
TV Pubcasters Chime In On FCC State of NextGen TV NPRM
America’s Public Television Stations (APTS), the Corporation for Public Broadcasting (CPB) and the Public Broadcasting Service (PBS) submitted comments on Tuesday in response to the third Further Notice of Proposed Rulemaking on the state of the “Next Generation” broadcast television transition.
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ARK Multicasting joins Streaming Video Tech Alliance
ARK, led by CEO and co-founder Joshua Weiss, joined the industry forum comprised of leading companies from the online video ecosystem to further their development and use of the new television standard ATSC 3.0.
Inovonics CEO Gets Company Torch As Jim Wood Steps Aside
In 1972, broadcast equipment manufacturer Inovonics opened its doors. It was initially financed and has been wholly owned by Jim Wood, and his immediate family, across the last 50 years. Now, Wood, who stepped into retirement 16 years ago, is giving up his stake in Inovonics.
Telestream at IBC: Products Delivering Production Through Distribution
A California-based digital media technology company is preparing to demonstrate its portfolio of products designed to "empower production and post production teams, operations personnel, and engineers to ensure the highest quality customer experience while providing maximum business value" at September's IBC 2022 conference and expo. What can attendees in Amsterdam expect from Telestream?
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