In the unprecedented situation created by the coronavirus outbreak and the economic downturn, MAGNA is revising its media owners net advertising revenue forecasts for 2020 and 2021. While digital ad sales will be more resilient, total linear ad sales will dip by double digits. That said, a V-Shaped rebound is on the way.
Wall Street investors have been "incredibly swift" to punish the merger of Viacom and CBS Corp., notes esteemed financial analyst Michael Nathanson of MoffettNathanson. Free cash flow is a problem, he notes. What does MoffettNathanson urge? It points to the adage to “never let a good crisis go to waste” and re-think both the company’s asset base and OTT strategy.
Noting the company's "transformative" 2019, which included emerging from bankruptcy, Bob Pittman declared during iHeartMedia's Q4 earnings call held one month ago, "We're looking forward to an even more successful 2020." Now, Pittman and iHeart have effectively retracted that statement, thanks to the coronavirus pandemic. The company has also drawn millions of dollars from its credit line.
National Amusements, Inc., has largely directed the fortunes and future of what is now ViacomCBS. It is Shari Redstone who wanted Bob Bakish to lead the recombined companies, not a CBS Corp. C-Suiter. It is her that a block of any reunification of CBS and Viacom under former CEO Les Moonves never occurred. Now, however, NAI is "losing some of its ability to borrow money."
On Thursday, iHeartMedia disclosed that it was taking a big chunk of money out of a credit line established with its emergence from Chapter 11 bankruptcy, while withdrawing its full-year 2020 guidance. The reason is directly tied to the extreme impact to media of the COVID-19 pandemic. Hours later, Salem Media Group moved forward with a coronavirus-fueled move of its own.
The Broadcasters Foundation of America has received "a flurry of requests' for assistance from broadcasters who find themselves in need due to the Coronavirus pandemic. The non-profit organization is "currently looking into the best way" it can provide assistance to these broadcasters.
Every solid marketing campaign targets specifics that define prospects and probabilities. That includes time and circumstance. Staying in front of customers doesn’t always mean pitching a product or service. Letting them know you share their situation and will be there when they need you – that’s relatable marketing. And it resonates and will be remembered when things get back to normal.
What would your group of radio stations do if necessary news and information regarding the coronavirus pandemic was absolutely necessary for your listeners, but your resources were highly limited? In Seattle, stations known for entertainment programming and music linked up with another broadcasting company's News/Talker.
In February 2019, Dick Gleason was remembered for his five decades as an owner of radio stations in Maine, following his death from ALS at the age of 71. Now, the radio stations licensed to Gleason Media Services are saying goodbye -- and the coronavirus pandemic is one of the reasons why they are shutting down on March 29.
Community. Culture. Music. That's the brand promise from a noncommercial Jazz station serving the Denver metropolitan area and, until now, the ski resort community of Vail. What does the future hold for Vail? Some may ask, as the station carrying the Jazz station is trading hands.
A Spanish-language broadcast TV network that, until now, was not universally available to DirecTV and AT&T U-Verse consumers is being made available at no additional cost to all subscribers. The move is being done to provide Latinos who prefer news in Spanish the most available information regarding the continued coronavirus pandemic.
The FCC released a public notice that deals with the attempts of several broadcasters to support their advertisers, while at the same time filling advertising inventory holes that have been created by the cancellation of other advertising schedules. Wilkinson Barker Knauer partner David Oxenford explains why the Media Bureau issued it, and how it effects Lowest Unit Charge calculations.
The FCC's Media Bureau has established a temporary waiver process for brokered television stations, in light of COVID-19 pandemic. The NAB immediately responded, noting that it was grateful for the Commission's move.
Eric Rhoads, founder of Radio Ink and Chairman of Streamline Publishing's Radio + Television Business Report, has recorded a podcast with marketing guru Jay Abraham expressly designed for radio industry executives and sales professionals to share with clients. Click here for 20 minutes that could positively change your station, and a local business' fortunes.
To help educate Americans about the steps they can take to stop the spread of the coronavirus and why social distancing is important, the Ad Council is developing a series of informative public messages using the hashtag #AloneTogether — an effort supported by the ANA.
Given the myriad challenges many in broadcast media have been faced with due to the novel coronavirus, we are pleased to share the many ways the late Irwin Pollack believed one could best deal with tension, strain and pressure in challenging times.
Low power television and TV translator stations will soon be getting reimbursement checks from the FCC with respect to bills incurred for post-spectrum auction repack needs. An initial allocation of funds from the TV Broadcaster Relocation Fund was given the green light.
Internet and digital news for the broadcasting industry.
Johns Hopkins Medicine warns that “Studies suggest that coronaviruses may stay on surfaces for a few hours or up to several days.” As such, keeping common areas sanitized to protect on-air staff and production personnel is a top concern. Here are some tips for a clean work environment, protecting the remaining staff in your radio or TV station, courtesy of tech company LAWO.
From the Space Coast of Florida, Qligent has established itself as a source of monitoring, visualization and delivery analytics tools for broadcasters. Now, it has secured its largest U.S. broadcast project to date, and it involves one of the nation's biggest broadcast TV companies.
The Telos Alliance, known for its broadcast audio tools, is helping its customers in need of going on-air from anywhere by offering a temporary price break on a selection of its products best-suited for the task.