Audacy, Inc.

KS&R Report: Podcasts are Replacing Traditional Media Consumption

Retrieved on:

Tuesday, March 5, 2024

Social media, Gen, KS&R, Audacy, Inc., Entertainment, Video, Generation Z, Wave, Virtual reality, VR, Research report

SYRACUSE, N.Y., March 5, 2024 /PRNewswire/ -- KS&R, an industry-leading strategic consultancy and marketing research firm, today announced the release of its research report, "Podcast Frenzy: Riding the Wave of Ever-Increasing Popularity."

Key Points:

This report found that podcasts are replacing traditional media consumption across all generations.
Additionally, a significant portion of Gen Z (more than a quarter) and Millennials (more than a third) listen to podcasts on a daily basis.
In fact, since they began listening to podcasts, listeners reported that 28% of them watch less TV, and 24% browse social media less often.
There are generational gaps in the types of podcasts to which aficionados listen, however:
Video podcasting is popular, particularly via YouTube (45%) which is especially popular among men.

Audacy Reports Third Quarter Results

Retrieved on:

Thursday, November 9, 2023

Audacy, Inc. (OTC: AUDA) today reported financial results for the quarter ended September 30, 2023.

Key Points:

Audacy, Inc. (OTC: AUDA) today reported financial results for the quarter ended September 30, 2023.
Net revenues for the quarter were $299.2 million, down 5.6% compared to $317.0 million in the third quarter of 2022
Digital revenues were $64.8 million, up 3% compared to the third quarter of 2022
Total operating expenses for the quarter were $580.8 million, which includes a non-cash impairment loss of $272.7 million, compared to $468.8 million in the third quarter of 2022, which included a gain on sale of $10.7 million and a non-cash impairment loss of $176.8 million
Cash operating expenses for the quarter were $276.1 million, down 2% compared to $280.6 million in the third quarter of 2022
Operating loss for the quarter was $281.7 million, compared to $151.9 million in the third quarter of 2022
Adjusted EBITDA for the quarter was $23.0 million, compared to $36.3 million in the third quarter of 2022
David J.
We gained revenue share in the quarter, most significantly in radio in which we have achieved accelerating share growth since the start of the year.
Fourth quarter is currently pacing down 9% on an as reported basis and down 4% on a same-station, ex-political basis.

Flamingo Unveils All-New Podcast, Unruly, Hosted by Author and Critic Kimberly Drew

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Wednesday, November 8, 2023

NEW YORK, Nov. 8, 2023 /PRNewswire/ -- Today, Flamingo, a brand of Harry's, Inc., whose mission is to champion women, their bodies, and their choices, unveiled the first episode of their all-new podcast, Unruly, produced by Audacy's Pineapple Street Studios. Hosted by author, curator, and critic Kimberly Drew, the eight-part podcast unpacks how women's bodies are quietly regulated in facets of everyday life, including through social media, the beauty industry, medicine, and more.

Key Points:

Hosted by author, curator, and critic Kimberly Drew, the eight-part podcast unpacks how women's bodies are quietly regulated in facets of everyday life, including through social media, the beauty industry, medicine, and more.
Together, Flamingo and Kimberly are examining various topics and tapping experts to educate and empower women to take control of their own narratives throughout different stages of their lives.
Unruly is a project we're so proud to release, especially with a partner like Kimberly, a long-time advocate for women's issues."
"It is always a good time to spark conversations about bodily autonomy," said Kimberly Drew.

Audacy Provides NYSE Listing Update

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Monday, October 30, 2023

Audacy, Inc. (NYSE: AUD; OTC: AUDA) (the “Company” or “Audacy”) today announced that its appeal of the determination by the New York Stock Exchange (“NYSE”) to commence proceedings to delist Audacy’s Class A Common Stock (the “Common Stock”) from the NYSE was not successful.

Key Points:

Audacy, Inc. (NYSE: AUD; OTC: AUDA) (the “Company” or “Audacy”) today announced that its appeal of the determination by the New York Stock Exchange (“NYSE”) to commence proceedings to delist Audacy’s Class A Common Stock (the “Common Stock”) from the NYSE was not successful.
As a result, the NYSE today filed a Form 25 relating to the delisting from the NYSE of its Common Stock with the Securities and Exchange Commission (the “SEC”), which will become effective on or about November 10, 2023.
Audacy stock has not been traded on the NYSE since May when the NYSE notified Audacy that it had elected to commence proceedings to delist the Common Stock from the NYSE based on Audacy’s “abnormally low” price levels.
Audacy continues to focus on growing and enhancing its capabilities as a leading, multi-platform audio content and entertainment company, and continues to engage in discussions with its lenders to deleverage its balance sheet and improve its capital structure to position Audacy for long-term growth.

Audacy Provides Capital Structure Update

Retrieved on:

Monday, October 2, 2023

TV and Radio, Podcast, Banking, Music, Technology, Professional Services, General Entertainment, Entertainment, Other Professional Services, Audio, Video, Finance, Growth, Note, AUD, AUDA, Audacy, Inc., NYSE, Security (finance)

Audacy, Inc. (NYSE: AUD; OTC: AUDA) (the “Company” or “Audacy”) today provided an update on its ongoing discussions with lenders to refinance its debt and optimize the Company’s balance sheet to position the Company for long-term growth, capitalizing on its scaled leadership position across the audio market.

Key Points:

Audacy, Inc. (NYSE: AUD; OTC: AUDA) (the “Company” or “Audacy”) today provided an update on its ongoing discussions with lenders to refinance its debt and optimize the Company’s balance sheet to position the Company for long-term growth, capitalizing on its scaled leadership position across the audio market.
Audacy intends to utilize the 30-day grace period to continue its dialogue with lenders regarding a potential plan to strengthen its capital structure to support Audacy’s strong operating business and position Audacy for long-term growth.
Audacy’s decision does not impact any of its business operations or obligations to advertisers, employees, suppliers or other stakeholders.
Audacy continues to focus on growing and enhancing its capabilities as a leading, multi-platform audio content and entertainment company.

Over 750 Walk Participants Raise $270,000 to Break Records at the American Foundation for Suicide Prevention's Walk on the Boardwalk in Atlantic City

Retrieved on:

Wednesday, September 13, 2023

ATLANTIC CITY, N.J., Sept. 13, 2023 /PRNewswire/ -- More than 750 walkers took to the Boardwalk in Atlantic City Saturday to raise more than $270,000 for the American Foundation for Suicide Prevention's "Out of the Darkness Community Walk."

Key Points:

Team members from Hard Rock Hotel & Casino Atlantic City led the walk and broke records for the number of walkers and the amount of money raised.
The record-setting amount of funds raised included a $50,000 contribution at the Machine Gun Kelly concert at Hard Rock Atlantic City.
"World Suicide Prevention Day was marked on the same weekend as our walk, amplifying our message that Suicide is Preventable."
If you would like to support the AFSP Walk and the team of walkers, please click here .

Audacy Names Boostr New OMS to Bring Greater Efficiency and Profitability to Local Digital Audio Ad Sales

Retrieved on:

Thursday, September 7, 2023

IO, Sale, Microsoft Dynamics, Collection, OMS, CRM, Daily Journal Corporation, Audacy, Inc., IOS, Salesforce, News, Media planning, Online shopping, Video game, Sales, Audacy

NEW YORK, Sept. 7, 2023 /PRNewswire-PRWeb/ -- Boostr (https://www.boostr.com/), the only advertising management platform built specifically to help complex media organizations scale, today announced Audacy as a new client. Boostr will provide its industry-leading order management system (OMS) solution to Audacy, the leading multi-platform audio content and entertainment organization with the country's best collection of local music, news, and sports brands. Audacy will leverage Boostr's OMS to bolster digital audio advertising campaigns supporting its local markets.

Key Points:

Boostr's Order Management System will enhance Audacy's Local Digital Audio Ad Sales processes.
Boostr will provide its industry-leading order management system (OMS) solution to Audacy, the leading multi-platform audio content and entertainment organization with the country's best collection of local music, news, and sports brands.
Audacy will leverage Boostr's OMS to bolster digital audio advertising campaigns supporting its local markets.
Boostr's OMS provides real-time visibility into inventory and delivery, enabling Sales and Ad Ops teams to make faster, data-driven decisions about media plan development, optimization, and campaign delivery.

5-hour ENERGY® billionaire invests heavily into media

Retrieved on:

Monday, August 14, 2023

NEW YORK, Aug. 14, 2023 /PRNewswire/ -- Manoj Bhargava, the founder of 5-hour ENERGY®, announced after market trading today that he is expanding his media interests by creating a significant media holdings portfolio with stakes in print and online media, television and radio broadcast, production and distribution, and digital advertising delivery:

Key Points:

Merging television broadcast network with The Arena Group:
Via Simplify Inventions LLC and its subsidiaries, IV Media LLC and Bridge Media Networks LLC, he has signed a binding LOI to combine its broadcast networks with The Arena Group Holdings, Inc. a technology platform and media company home to more than 265 brands, including Sports Illustrated, TheStreet, Parade Media ("Parade") and Men's Journal.
IV Media LLC acquiring iMedia Brands, and its flagship property, Shop HQ TV, via a successful bid for the company.
Bridge News, LLC also owns and operates 50 TV stations nationally, with an additional over 50 independent broadcast affiliates nationally.
Altogether, these investments create a portfolio of companies and services that is now an end-to-end media ecosystem of production, distribution, and advertising delivery solutions globally.

Audacy Reports Second Quarter Results

Retrieved on:

Friday, August 4, 2023

Audacy, Inc. (NYSE: AUD; OTC: AUDA) today reported financial results for the quarter ended June 30, 2023.

Key Points:

Audacy, Inc. (NYSE: AUD; OTC: AUDA) today reported financial results for the quarter ended June 30, 2023.
Net revenues for the quarter were $298.5 million, down 6.6% compared to $319.4 million in the second quarter of 2022.
Local spot was down 3.7%, while national spot was down 16.6%
Digital revenues, were $66.7 million, down 4% compared to the second quarter of 2022.
Field, Chairman, President and Chief Executive Officer, stated: “Second quarter net revenues were down 6.6% in line with our quarterly guidance, reflecting challenging ad market conditions.

Gemini XIII Acquires United Stations Radio Networks

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Wednesday, July 5, 2023

Gemini, Steinhauer, Radio, Westwood One, Acquisition, Audacy, Inc., Cadence13, United Stations Radio Networks, Service, USRN, Broadcasting, Relevant Radio

NEW YORK, July 5, 2023 /PRNewswire/ -- Gemini XIII announces the acquisition of United Stations Radio Networks (USRN). USRN has served advertisers, broadcasters and content creators for over three decades.

Key Points:

NEW YORK, July 5, 2023 /PRNewswire/ -- Gemini XIII announces the acquisition of United Stations Radio Networks (USRN).
Gemini XIII Expands Sales Reach and Services with Acquisition of United Stations Radio Networks.
This marks the return to network radio for Spencer Brown, CEO of Gemini XIII, and Charles Steinhauer, COO of Gemini XIII, who built Dial Global, currently part of Westwood One.
United Stations Chairman and CEO Nick Verbitsky commented, "Spencer Brown, CEO of Gemini XIII, and Charles Steinhauer, COO of Gemini XIII, have a track record of success in network radio having built Dial Global from the ground up.