For iHeartMedia, A Q1 Loss Narrows As Stock Value Plummets
Did the company led by CEO Bob Pittman and COO/CFO Rich Bressler meet the street in Q1? No, but the company was quick to note its 1.5% revenue dip was in line with its own guidance range. Shareholders were unimpressed, with "IHRT" losing more than 30% of its value in Thursday's trading.
Nexstar Enjoys A Strong Start To 2024
"An excellent start to 2024." That's the summation from Perry Sook, founder and Chairman/CEO of Nexstar Media Group. Indeed, Nexstar's Q1 2024 net revenue were in line with analysts' expectations, thanks to "record" dollars during the three-month period.
Retrans Revenue Propels Sinclair In Q1
Core advertising revenue fell short of its guidance in Q1 2024. However, Sinclair's "distribution revenue," a.k.a. retransmission consent dollars, came in ahead of its own estimates. Did Sinclair's Q1 2024 revenue meet Street expectations? No.
‘Ongoing Softness’ For Audio Advertising Impacts Beasley
The owner of broadcast radio stations in markets ranging from Las Vegas and Detroit to Philadelphia, Boston and Augusta, Ga.; experienced a nearly 6% dip in its net revenue during the first quarter of 2024 — a decline that led to a 7% reduction-in-force initiative that became known on Tuesday.
Caitlin Clark ‘Fever’ Expands To 11 Markets
Seventeen Indiana Fever WNBA games will air not only on WTHR-13, but on co-owned TEGNA stations in Des Moines, Louisville, and in the Quad Cities of Illinois and Iowa. Additionally, agreements have been finalized with five other TV station ownership groups.
BMI Sale Proceeds Make The Difference For TEGNA
TEGNA's revenue for Q1 fell $5 million short of the consensus estimate offered by six analysts polled by Yahoo! Finance. However, net income was up — thanks to a one-time non-operational dollar gain. The bigger concern: lost revenue from a "temporary" retrans impasse.
Gray Swings To Q1 Income Gains That Sail Past Analyst Estimates
Gray Television on Tuesday not only revealed its Q1 2024 financial results, but the broadcast television station group headed by Hilton Howell Jr. and Pat LaPlatney also offered guidance for Q2. How did Gray fare, and are the second quarter numbers shaping up to beat last year's results?
Disney Shares Slide On Softer TV, Film Performance
For those looking for answers as to why The Walt Disney Co. stock price fell by 9.5% in trading on Tuesday, one can look to Disney+ as a culprit. In fact, some investors may be wondering if the movie studio and ABC Television Network need a bit more dollar-attracting pixie dust.
Additional NEXTGEN TV Stations Come To San Antonio
Some 23 months after NEXTGEN TV signals for the FOX affiliate, The CW Network affiliate, the NBC affiliate and an independent UHF facility launched in San Antonio, five additional stations have debuted their ATSC 3.0-powered digital broadcast signals for Alamo City viewers.
Adell Says No To Joint Appeal Of FCC’s WADL Sale Conditions
The owner of a UHF station serving Detroit has notified the day-to-day head of the TV broadcasting company that seeks to purchase the property that it will not participate in any regulatory appeal of a FCC decision allowing it to proceed with six big conditions. Could that doom the deal?
Fubo Shares Slide As Net Loss Lowers For vMVPD
Sports-first virtual MVPD Fubo successfully trimmed its massive debt in Q1 2024. However, even with a revenue beat, investors in the 10am Eastern hour began to sell off shares in droves after an early bump in value. Could bigger concerns be at play for those with Fubo stock?
Net Loss Dip, But Earnings Slip For Cumulus in Q1
For Cumulus Media, the first three months of 2024 brought some relief: Its net loss declined. But the company's adjusted EBITDA also fell, as its revenue also slipped, coming in just shy of a consensus estimate based on the input of two analysts who track the company led by Mary Berner.
Longtime Katz Television Head Leo MacCourtney To Retire
He was named President of the Katz Media Group entity in 2012 and has served in various high-profile television industry roles across 50 years. His last day is scheduled for June 30, at which time the individual serving as Chief Operating Officer for the past 12 years will succeed MacCourtney.
Linear TV’s Ad Dollar Vacuum? It’s Zuckerberg’s Baby
With Meta presenting Thursday afternoon at the NewFronts, the Mark Zuckerberg-founded parent of Facebook, Instagram and Whatsapp is poised to attract marketers galore. A just-released WARC report indicates Meta is now the biggest dollar-for-dollar competitor with TV.
Consumer Media Usage Flatlines In 2023
Digital and traditional media channel consumption across the world’s 20 largest markets and the rest of the countries in the four major global regions grew by just 0.3% in 2023 to an average of 56.2 hours per week, according to PQ Media. This marks a sharp deceleration for growth.