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Wednesday, August 07, 2024
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| BIA: U.S. Local Ad Spend In 2025 To Hit $171 Billion.
Projected ad revenues across all local media in the U.S. will reach $171 billion in 2025, according to BIA Advisory Services’ latest U.S. Local Advertising Forecast. That’s an increase of 5.5% in non-political spending over BIA’s revised 2024 estimate. OTA and digital radio are both expected to see year-over-year gains. READ MORE
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| Townsquare Media Reports Q2 Loss; Digital 52% Of H1 2024 Total Revenue.
Townsquare Media posted a loss of $49.2 million in the second quarter — mostly due to non-cash impairment charges — while its Townsquare Interactive segment saw sequential month-over-month revenue growth during the period. The company also retired $14 million of debt and repurchased $22 million of its shares in the first half of the year. READ MORE
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| Political Ad Spend: Dems Far Ahead of GOP Overall. Radio Spending More Balanced.
The latest figures from AdImpact show Democrats spending nearly twice as much as Republicans on political ads year-to-date, bulking up on digital, broadcast, and connected TV, while there’s less of a difference between the party spend at radio and cable. AdImpact’s projections put Democrats’ total spend at $325 million vs. the GOP’s $181 million. As for radio, Democrats have spent $8 million vs. Republicans’ $6 million. READ MORE
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Quote Of The Day:
“Restaurants, Real Estate, and Retail — we’re referring to them as the Three Rs of 2025 — are ripe for expansion, and they all tie back to local advertising and media in meaningful ways. We’ll be keeping a close eye on opportunities in both traditional and digital ad spend across these verticals.” – Nicole Ovadia, VP of Forecasting & Analysis, BIA Advisory Services (FULL STORY)
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| Entravision, NFL Extend Radio, Audio Streaming Deal by 3 Years.
Entravision has renewed a longstanding partnership with the National Football League via a new three-year radio and audio Spanish-language streaming deal. According to a news release, the extension marks a decade of collaboration between the organizations and secures the partnership through the 2026-2027 NFL season. A goal of the expanded partnership is deeper engagement for the sport among U.S. Latino communities. READ MORE
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| Classic Hits Are Hot In Summer, And July PPMs Bring The Heat.
Classic hits stations in 12 markets reporting on Days 1 and 2 of Nielsen’s PPM July survey are either showing share growth from June, ranking in the top five, and in four markets, leading all other stations, the latter the case in Los Angeles, Dallas, San Diego, and St. Louis. In the eight markets where classic hits stations are showing share gains, they’re up nearly five share points from June. READ MORE
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| Historic Miami Station WQBA 1140 AM To Relaunch Brand.
Storied Miami station WQBA 1140 AM is undergoing a revitalization, with a new lineup and new programming aimed at Miami’s Latino community. It will all take effect on Aug. 12, 2024. A part of the Latino Media Network, WQBA also has a new slogan: “El Pulso de Miami” (“The Pulse of Miami”). READ MORE
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| Lake Tahoe Owner D&H Broadcast Tells Bankruptcy Court It Has Found A Buyer.
D&H Broadcasting, the owner of hot AC “93.9 The Lake” KRLT and news-talk “The Owl 1490” KOWL in South Lake Tahoe, CA, has told a federal bankruptcy court that it has lined up a buyer for the two stations. Rothschild Broadcasting has agreed to pay $275,000 for the AM/FM combo. READ MORE
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| Salem Sees Revenues Weaken For Its Radio Business During Q2.
The second quarter of 2024 is likely a period Salem Media Group is happy to have in the rearview mirror. The company reports total revenue dropped 7.8% during the quarter to $60.6 million. The results — which came without the traditional conference call for analysts and a barebones quarterly filing — show mixed results. Broadcast revenue fell 5.2%, while digital sales grew 10%. READ MORE
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| Survey Points To Why Podcasts Should Be On Retailers’ Buy List This Holiday Ad Season.
As retailers put together marketing plans for the coming months, including the critical holiday shopping season, they may want to consider the results of a Veritonic survey conducted last month. It finds three in four consumers would like to hear podcast ads for holiday shopping, while 58% say they would welcome back-to-school ads on podcasts. READ MORE
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| Hubbard, Skyview Networks Launch Syndicated ‘Donna & Steve’ Weekend Show.
Donna Valentine and Steve Patterson, weekday hosts of Hubbard Radio’s myTalk 107.1’s “The Donna & Steve Experience,” are launching a nationally syndicated weekend program, Donna & Steve. According to a news release, the show is in partnership with audio solutions company Skyview Networks. The program is expected to debut this fall. READ MORE
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| The Latest Nielsen Audio Ratings.
We've added Nielsen Audio share data from Baltimore, Boston, Denver-Boulder, Detroit, Miami-Ft. Lauderdale-Hollywood, Minneapolis-St. Paul, Phoenix, San Diego, Seattle-Tacoma, St. Louis, Tampa-St. Petersburg-Clearwater, and Washington, DC. Find a list of every station in a market, and ratings for Nielsen Audio subscribers, at Stationratings.com.
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