Friday's Top News Reports (Feb. 15, 2013)

RAB: Radio Records 3rd Straight Year Of Upward Momentum Q4 Surge Represents Highest Quarterly Gain in 2 Years Radio ended 2012 on a high note with Q4 revenue up 4% over 2011 to $4.349 billion, according to the RAB's report on the industry's revenue for the fourth quarter of 2012 and the full year. The Q4 gain "was the highest growth recorded over the past eight quarters and since the strong rebound gains registered throughout 2010," says the report. Full-year spending was up for the third consecutive year and totaled $16.482 billion (+1%). "This marks the third straight year of upward revenue momentum for the industry." Says RAB President/CEO Erica Farber, "The resurgent Automotive industry and the closely-contested Presidential political race provided the main impetus for 2012’s positive Spot performance. Our medium also enjoyed strong increases in Q4 spending by advertisers in the key Communications and Financial Services categories." Farber adds, "The continued stellar showing of the Digital sector -- up 11% in Q4 and with an 8% edge over 2011 full year -- underscores the fact that the Radio industry is finding additional ways to monetize these streams and that advertisers are taking advantage of new platforms to reach our listeners." In Q4 2012, spot revenue grew four percent to $3.75 billion, with digital revenue up 11 percent to $206 million. Off-air revenue fell by one percent to $393 million. For the full year, spot revenue grew one percent to $14.205. Digital revenue in 2012 was up by eight percent to $767 million, as off-air revenue grew by one percent to $1.51 billion. Five categories have consistently represented radio’s biggest spenders over the past six years. This list -- ranked on 2012 standing -- indicates Automotive has regained the high margin of dominance among radio's top five it enjoyed in 2007-2008, while the next four categories now contribute nearly equal dollars. Read the full RAB report here. CBS Radio Revenue Up 1% in Q4 2012 CBS Radio revenue was up by one percent in the fourth quarter of 2012, as parent CBS Corporation reports its fourth quarter and full year 2012 financial results. They combine TV and Radio under "Local Broadcasting," which shows fourth quarter revenue increasing nine percent to $787 million, due in part to political advertising and television retransmission revenues. CBS Radio revenue was up one percent year-over-year, while the TV segment's revenue increased 17 percent. OIBDA for the fourth quarter increased 22 percent to $325 million, primarily driven by the revenue growth. For the full year, Local Broadcasting revenue was up to $2.774 billion, from $2.689 billion in 2011. Overall CBS Corp. revenue in Q4 increased two percent to $3.7 billion. For the full year of 2012, CBS set a new record with $14.09 billion in revenue, a three percent increase from 2011's $13.64 billion. Says CBS Corp.Executive Chairman Sumner Redstone, "CBS has turned in another quarter of exceptional performance, capping off another terrific year. Our results today speak to the strength of our strategy -- producing and distributing great content and monetizing it over and over again. I am confident that Leslie and his team will continue to capitalize on all of the opportunities we have before us this year and beyond." "CBS had a record year in 2012, as well as a record fourth quarter, and the momentum is building for an even better 2013," says CBS Corp. President/CEO Leslie Moonves. "Advertising revenue is growing, and our revenue from non-advertising sources continues to grow even faster. This includes new recently signed streaming, retransmission consent, and reverse compensation deals as well as ongoing strength in domestic and international syndication sales. Meanwhile, the confidence and visibility we have in our operations, along with the strategic actions we’re pursuing at CBS Outdoor, have allowed us to announce today that we are accelerating the pace of our share repurchase program by another billion dollars. Going forward, returning value to our shareholders will continue to be a top priority for us. We feel very good about our future, and we are very encouraged by the strength of our core businesses and the increasing premium we are able to command for our content." Dial Global Suspends SEC Reporting Obligations Dial Global has suspended its reporting obligations under the Securities Exchange Act of 1934, filing a Form 15 with the SEC to accomplish the suspension, effective February 15. After that filing, "unless otherwise required by law," Dial Global doesn't intend to make "additional periodic reports with the SEC other than its annual report on Form 10-K with respect to its 2012 fiscal year." A news release from Dial Global offers this formal statement: "The Company's decision to suspend its reporting obligations under the Exchange Act was taken following a review by the Company's Board of Directors, which determined that such action would be in the best interests of the Company. In reaching this conclusion, the Company's Board of Directors considered numerous factors, including, among other things, the compliance costs associated with filing periodic reports with the SEC, the diversion of management attention from other matters that results from being a reporting company, the relatively limited historical volume of trading in the Company's common stock and the applicable federal securities laws. The Company presently anticipates that its common stock will continue to be quoted on OTC Pink following the suspension of its reporting obligations to the extent market makers continue to make a market in such stock. There can be no assurance, however, that a trading market in the Company's common stock through the over-the-counter market or any other market will be maintained." Jill Strada Named 'Hot 96.9' Boston APD/Digital Brand Manager Greater Media names Jill Strada to be Assistant PD and Digital Media Brand Manager at their new Rhythmic "Hot 96.9" at WTKK-FM, Boston. Strada, we're told, "will be responsible for assisting in the strategic planning and execution of the station's programming and promotional plans. In addition, she will play a key role in the creative development of the station's website and digital media platforms, as well as construct ways for the Hot 96.9 sales team to monetize the station's digital efforts." Strada most recently was Program Director at "Power 96" WPOW-FM, Miami. Previously, she was Program Director at "98.7 Kiss FM" WRKS-FM, and Assistant PD/Music Director at "Hot 97" WQHT-FM, New York. "Jill has both the programming and digital media experience to enhance Hot 96.9 as we continue to evolve and make our presence well known with the listeners of Boston," says Greater Media Boston Director of Programming Cadillac Jack McCartney. "Moreover, Jill is also a wonderful 'A' talent with a competitive spirit and contagious enthusiasm that will fit perfectly with our culture!" Philadelphia's 'Wired 96.5' Makes Its New Morning Show Official As the stunt introduction of its new morning show comes to an end, Beasley Rhythmic CHR "Wired 96.5" WRDW-FM, Philadelphia, makes the official announcement. Former "Z90" XHTZ-FM, San Diego, morning co-host Chunky joins to lead the morning show, and Ghia from WBLI-FM, Long Island, also joins the cast, which additionally includes Steve Tingle and Producer JP. We previously reported that Chunky had supposedly been making cheesesteaks at Philly's Pat's Steaks, and was asked to guest on the show. Playing out the stunt, VP and Market Manager Natalie Conner announces that Chunky has been "hired away from Pat's" as the station's new morning host. Says Chunky, also the former night host at "92.3 Now" in New York, "Getting the opportunity to host mornings in a top 10 market is a dream come true for me. The fact that it is mornings at Wired 96.5 is icing on the big ass cake. Special thanks to Bruce Beasley, Natalie Conner, Dan Hunt, Dom Theodore, Bill Tanner, Chris Ackerman and everyone that has helped and hired me along the way." Hunt, of course, is the "Wired 96.5" Program Director. He tells us, "I’m excited to have assembled America's next great young morning show. Chunky, Ghia, Tingle and Producer JP will give Philly a morning show that is real, relevant and local." Says Ghia, "I'm super excited to share a studio with such talented people! Big thank you to the Beasley Broadcasting Family for believing in me and giving me my dream job! Now it's time to kick ass in Philly!!!" And Tingle adds, "I am excited to be working with Chunky and Ghia. We are going to make this the most innovative morning show in Philadelphia." 'Earth' Moving in South Carolina Classic Hits "Earth 105.7" WOLI-AM, Greenville-Spartanburg, South Carolina, is moving to 103.3 FM, displacing CHR-Top40 "Spin 103.3" WOLT-FM. "Earth 105.7" has aired on 910 AM and FM translator W289BS at 105.7, offering "The Greatest Hits on Earth." The AM signal will be freed from originating the Classic Hits format for a translator and will become the home of "Yahoo Sports Radio 910" with some local athletics coverage. The "Earth" move, we're told, will give the Classic Hits format better coverage in the market. The Davidson Media station, operated by Earth Radio Broadcasting, has been actively promoting the change. "It may not be moving under your feet but it is coming to 103.3" says the station. The Classic Hits "Earth" debuted only about two months ago. The formal move to 103.3 FM is scheduled for March 1. We don't know yet if any call letters will be moved or changed. Study Finds Music Streaming Services Attract Differing Audience Segments The various available music streaming services -- Pandora, Rdio, Spotify, Last.fm, iHeartRadio and others -- are attracting different segments of the population, according to Fizziology Senior Analyst Patrick McMullen. Writing for DigitalMediaWire, McMullen offers his analysis, finding that iHeartRadio, Pandora and Songza, the three streaming services that work the most like traditional radio, are also used by people who enjoy the most popular radio formats: CHR, Hip-Hop and Country. In fact, iHeartRadio users mention CHR artists and songs in 28 percent of all social media posts about specific bands, artists, songs or genres. "In contrast to the relatively high amount of mentions of Top 40 artists in the social conversation from users of iHeartRadio and other streaming services, people who listen to music on Last.fm, Rdio and Spotify mention very little Top 40 music. Less than 2% of all music-talk from users of any of these services mention Top 40 music. Rdio and Spotify are also alike in that their users tend to listen to full albums from artists or bands. While Last.fm can work similarly to Pandora or iHeartRadio in function, users of the service mostly talk about listening to rock (29%) and indie (20%) music." McMullen also tells us, "YouTube (and Vevo) and Turntable.fm have users who are much different than the other groups. Turntable.fm caters to niche groups of electronic music enthusiasts who play varying formats of club and dance music. Its users also value finding obscure dance and electronic music that their peers haven’t heard. YouTube and Vevo cater especially to under-18 music listeners who enjoy popular acts such as Justin Bieber and emerging artists Austin Mahone and Austin Keller. They also enjoy engaging with the sites promotional banner ads mentioning upcoming albums and tours from their favorite artists." At Fizziology, McMullen manages predictive analytics, using SPSS and other tools to convert data into business intelligence. News Briefs Tim Johnstone Becomes PD at Boise 'River'. Longtime Music Director Tim Johnstone is promoted to Program Director at Triple-A "94.9 The River" KRVB-FM, Boise, Idaho. Station Manager Roy Williams says that after an extensive search for a new PD, they decided to remain in-house with Johnstone getting the promotion. "We are very excited to be able to have someone on staff with Tim's talent, ability and knowledge of the radio station and community that is qualified to handle the programming duties," says Williams. Kevin Stapleford Joins Slacker. Kevin Stapleford joins Slacker as Senior Director of Programming. In his new role, he will oversee all efforts in content-development. Stapleford most recently was Director of Network Operations at Binational Broadcasting X1FM.com. He's previously held programming positions at several San Diego radio stations, and at one time was the Alternative editor at Radio and Records (R&R). Slacker is in the midst of what it's calling "a major upgrade." Bob Davis Retiring from K. C. Royals Broadcast Team. Bob Davis is retiring from the Kansas City Royals broadcast team after sixteen years, most recently on a network produced by Entercom "610 Sports Radio" KCSP-AM, Kansas City. Steve Stewart will assume Davis' post on radio broadcasts with Denny Matthews, who is entering his 45th season with the Royals. Ryan Lefebvre and Steve Physioc continue to handle play-by-play. Davis will continue as the radio voice of University of Kansas football and men's basketball. Eastlan Ratings Adding Three Markets. Eastlan Ratings is adding three new markets -- Helena, Montana; Homosassa Springs, Florida; and Sebring, Florida. Sebring is a market recently dropped by Arbitron, while Helena and Homosassa Springs are previously unrated areas. Eastlan offers radio ratings in small and medium markets. Says Eastlan President/CEO Mike Gould, "At a time when the largest radio ratings vendor is focused on coaxing its billion dollar sale past federal regulators, we are thankful to remain focused on serving the needs of radio broadcasters."